RATE AND FEE SCHEDULE - BUSINESS SAVINGS ACCOUNT
Effective May 3, 2024
Member FDIC
Account Opening and Monthly Service Charge
Minimum Opening Deposit | $50 |
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Monthly Service Charge |
$3.50 |
How to Avoid the Monthly Service Charge |
$0
|
Interest Information
Range of Balances | Interest Rate | APY |
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$0.00 - $14,999.99 | 0.50% | 0.50% |
$15,000.00 and Over | 0.70% | 0.70% |
The interest rate and annual percentage yield may change at any time at our discretion. (Fees could reduce earnings on account.) Rates effective as of 10/03/2024. |
How the Interest Rate is Calculated | We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the collected balance in the account each day. |
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How Interest is Compounded | Interest will be compounded and credited to the account quarterly. If you close your account before the interest is credited, you will receive the accrued interest. |
When Interest Begins to Accrue | Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks). |
Account Limitations
Excess Withdrawal Fee | You are allowed two free withdrawals per month. There will be a $3.00 savings withdrawal fee for each additional withdrawal over two per month. |
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Item Count | If total item count exceeds 20 items for six consecutive months, the account will automatically convert to a Frost Business Checking account. |
ATM Fees
Frost ATMs | $0 |
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Pulse Point-of-Sale Terminals | $0 |
H-E-B, Corner Store, and Circle K Locations in Texas | $0 |
Non-Frost ATMs | $2 for any Transfers or Withdrawals while using a non-Frost ATM, plus any fees the ATM owner charges. |
Notice regarding ATM fee by others - If you use an automated teller machine that is not operated by us, you may be charged a fee by the operator of the machine and/or an automated transfer network and you may be charged a fee for a balance inquiry even if you do not complete a funds transfer |
Overdraft Fees
Overdrafts created by check, in-person withdrawal, ATM withdrawal or other electronic means | $35 for each item presented for payment we pay that overdraws your account more than $5, up to a maximum fee of $175 per day. |
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Non-sufficient Funds | $35 per item - If we determine, in our sole discretion based on information provided when the withdrawal or debit is presented to us for payment, that the Item is being represented for payment (meaning it was previously presented for payment and returned unpaid), we will not charge you an additional fee if your Current Balance is less than the amount needed to pay the Item and we return it due to non-sufficient funds. However, if we do not determine that the withdrawal or debit is a represented Item and we return it due to non-sufficient funds or we pay the Item that results in an overdraft, you will be charged the corresponding fee. |
Overdraft Protection Transfer, each advance from:
|
$0 $0 (interest will apply on the outstanding balance) |
Miscellaneous Fees
Check certification | $10 |
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Cashier’s check | $5 per item |
Money order | $5 per item |
Return item | $5 per item |
Stop payment | $30 per item |
Outgoing wire transfer | Fee varies |
Incoming wire transfer | $15 per item |
Domestic collection item | $20 per item |
Foreign collection item | $40 per item |
Hold mail at financial center for pick-up | $10 per month |
Signature Verification |
$3.00 per month plus $0.10 per item |
R(05/03/24)