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Investors Choice Money Market Account Rate and Fee Schedule

Rate Information - Your interest rate and annual percentage yield may change. Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every day. Interest will be credited to your account every month.
Effect of closing an account - If you close your account before interest is credited, you will receive the accrued interest.
Minimum balance to avoid imposition of fees - A monthly service charge fee of $12.00 will be imposed each statement cycle if the average daily balance for the monthly statement cycle falls below $2,500.00. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum average daily balance of $0.01 to obtain the disclosed annual percentage yield. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. The period we use is the monthly statement cycle.
Average daily balance computation method - We use the average daily balance method to calculate the interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. The period we use is monthly.
Accrual of interest on noncash deposits - Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items for example, checks).
Transaction limitations:
You may make no more than $9,999,999.99 in deposits into your account.
Transfers from an Investors Choice Money Market account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer or by debit card, or similar order to third parties are limited to six per monthly statement cycle.

Fees:
A per item fee of $5.00 will be charged for each debit transaction (withdrawal, check paid, automatic transfer or payment out of this account) in excess of six during a monthly statement cycle.

 

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