Direct Savings definition
Examples of Direct Savings in a sentence
Accrued Interest and Withdrawals As explained in the Popular Direct Savings Account Product Disclosure, accrued interest is credited to your Popular Direct Savings Account on the last business day of the monthly statement cycle.
In the event that we honor an item that is not a check or an item which creates an overdraft in the applicable Popular Direct Savings Account, you agree to deposit sufficient funds to cover the overdraft and/or any other applicable charges.
We may debit your Popular Direct Savings Account for a returned item after the earlier of either the day it is returned to us by electronic or other means, or the day we receive notice that the item is being returned to us.
An overdraft occurs when at the end of the business day we determine that your Popular Direct Savings Account does not have enough available funds to cover a transaction.
The daily interest rate is calculated by dividing 1 by 365 (number of days in year) and multiplying by the APY disclosed in the Popular Direct Savings Account Product Disclosure.
When you withdraw funds from your Popular Direct Savings Account, only the credited interest is available to you and you will not receive the interest accrued through and including the last business day of the monthly statement cycle that has not posted.
Additional information and other fees that may apply to your Popular Direct Savings Account are described in the Popular Direct Savings Account Product Disclosure and Schedule of Fees.
We may require written notice of an intended withdrawal from any Popular Direct Savings Account not less than seven (7) days before the withdrawal is made, consistent with applicable law.
We refer to these as “debits.” Under applicable law, we may accept, pay, certify, or charge to the indicated Popular Direct Savings Account these debits that we process on any given day in any order we choose.
In either case, we require that you promptly deposit sufficient funds to bring your Popular Direct Savings Account balance positive and pay any incurred NSF Fee(s).