Daily Balance Method. Dividends are calculated by the daily balance method which applies a daily periodic rate to the principle balance in the account each day.
Daily Balance Method means the ap- plication of a daily periodic rate to the full amount of principal in the account each day.
Daily Balance Method means the application of a daily periodic rate to the full amount of principal in the ac- count each day.
Examples of Daily Balance Method in a sentence
The Average Daily Balance Method applies a periodic rate to the average daily balance in the account for the period.
The Daily Balance Method applies a daily periodic rate to the balance in the account each day.
We compound interest daily, using the Daily Balance Method to calculate the interest on an Investor’s Note.
Balance Computation Method: If I take advances on this LOC, I will pay an interest charge based on the Daily Balance Method.
We use the Daily Balance Method to calculate the interest on your account.
More Definitions of Daily Balance Method
Daily Balance Method. Dividends are calculated by the daily balance method which applies a daily periodic rate to the principle balance in the account each day. PRIVACY DISCLOSURE FACTS WHAT DOES REV FEDERAL CREDIT UNION DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account Balances and Payment History Credit History and Credit Scores When you are no longer our customer, we continue to share your information as described in this notice. How? All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons REV Federal Credit Union (REV FCU) chooses to share; and whether you can limit this sharing. Reasons we can share your personal information Does REV FCU share? Can you limit this sharing? For our everyday business purposes— such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus Yes No For our marketing purposes— to offer our products and services to you Yes Yes For joint marketing with other financial companies Yes Yes For our affiliates’ everyday business purposes— information about your transactions and experiences No We don’t share For our affiliates’ everyday business purposes— information about your creditworthiness No We don’t share For our affiliates to market to you No We don’t share For nonaffiliates to market to you No We don’t share To limit our sharing Call Toll-free 0.000.000.0000 – and one of our Contact Center Agents will be glad to assist you. If you are a new customer, we can begin sharing your information 30 days from the date we sent this notice. When you are no longer our customer, we continue to share your information as described in this notice. However, you can contact us at any time to limit our sharing. Questions? Call Toll-free 0.000.000.0000 What We Do How does REV Federal Credit Union protect my personal information? To protect your pe...
Daily Balance Method means the ap- plication of a daily periodic rate to the full amount of principal in the account each day.(j) Depository institution and institu- tion mean an institution defined in sec- tion 19(b)(1)(A)(i)-(vi) of the Federal Reserve Act (12 U.S.C. 461), except cred- it unions defined in section 19(b)(1)(A)(iv).(k) Deposit broker means any person who is a deposit broker as defined in section 29(g) of the Federal Deposit In- surance Act (12 U.S.C. 1831f(g)).(l) Fixed-rate account means an ac- count for which the institution con- tracts to give at least 30 calendar days advance written notice of decreases in the interest rate.(m) Grace period means a period fol- lowing the maturity of an automati- cally renewing time account during which the consumer may withdraw funds without being assessed a penalty.(n) Interest means any payment to a consumer or to an account for the use of funds in an account, calculated by application of a periodic rate to the balance. The term does not include the payment of a bonus or other consider- 12 CFR Ch. II (1–1–13 Edition)ation worth $10 or less given during a year, the waiver or reduction of a fee, or the absorption of expenses.(o) Interest rate means the annualrate of interest paid on an account which does not reflect compounding. For the purposes of the account disclo- sures in § 230.4(b)(1)(i) of this part, the interest rate may, but need not, be re- ferred to as the ‘‘annual percentage rate’’ in addition to being referred to as the ‘‘interest rate.’’(p) Passbook savings account means asavings account in which the consumer retains a book or other document in which the institution records trans- actions on the account.(q) Periodic statement means a state-ment setting forth information about an account (other than a time account or passbook savings account) that is provided to a consumer on a regular basis four or more times a year.(r) State means a state, the Districtof Columbia, the commonwealth of Puerto Rico, and any territory or pos- session of the United States.(s) Stepped-rate account means an ac-count that has two or more interest rates that take effect in succeeding pe- riods and are known when the account is opened.(t) Tiered-rate account means an ac-count that has two or more interest rates that are applicable to specified balance levels.(u) Time account means an accountwith a maturity of at least seven days in which the consumer generally does not have a right to make withdrawals for six days after the account is...
Daily Balance Method. We may use the Daily Balance Method to calculate interest on your Account. This method applies a daily periodic rate to the “Collected Balance” in the Account each day.
Daily Balance Method means the method used to calculate interest on your Account. We take the Daily Rate and multiply it by the Collected Balance in your Account each day. Daily Rate is the interest rate applicable to your Account divided by 365 days (or 366 days in a leap year).
Daily Balance Method means the application of the daily periodic rate (derived from the APY) to the calendar day average of USDC held in your USDC wal- let each day.
Daily Balance Method. We may use the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the “Collected Balance” in the account each day. Depositor: Any person who signs the Bank’s deposit account signature card. This includes each and every owner of the account and anyone else with authority to exercise control over the funds in the account. Item: Any instrument for the payment, transfer, or withdrawal of funds from an account, even though it may not be negotiable. Examples include checks, electronic transactions such as ACH and ATM withdrawals, drafts, automatic transfers, and online banking transfers. References to an “Item” include, without limitation, situations where a check or electronic transaction is re-presented or re-submitted (as well as situations where a check is converted into an electronic transaction and submitted for payment). This means one authorized check, electronic transaction, or other item could result in multiple fees if such Item is presented or submitted for payment multiple times.
Daily Balance Method. We may use the Daily Balance Method to calculate interest on your account. This method applies a daily periodic rate to the collected balance in the account each day. Daily Overdraft Fee: The fee charged to your account for each day the account remains overdrawn starting on the seventh (7th) consecutive business day of the overdraft. Debit card transaction: Any purchase or bill payment using your debit card. A debit card transaction may be either an everyday (not recurring) purchase transaction or a recurring payment, such as a monthly bill.