Disclosures
Truth in Savings Disclosure
High Yield Cash Account
Eligibility Requirements. You must be 18 years of age to open this account.
Rate Information. Please refer to our rate sheet for the interest rate and annual percentage yield (APY) on this account. The current rate sheet can be found at https://www.battlebank.com.
Determination of Rate. At our discretion, we may change the interest rate on your account.
Frequency of Rate Changes. We may change the interest rate on your account at any time.
Limitations on Rate Changes. There are no maximum or minimum interest rate limits for this account.
Additional Rate Information. Please go to our website, BattleBank.com/RATE SHEET where you can find our rate sheet for the most recent interest rate and annual percentage yield (APY) on this account.
Compounding and Crediting. Interest will be compounded daily and will be credited to the account monthly. If you close your account before interest is credited, you will receive the accrued interest.
Minimum Balance Requirements. A Monthly Service Charge of $5.00 will be imposed every statement cycle if the average daily balance for the statement cycle falls below $5,000.00.
The Monthly Service Charge of $5.00, if applicable, will be reflected as Minimum Balance Fee on your periodic statement.
What You Need to Know about Overdrafts and Overdraft Fees. An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts using our standard overdraft practices. Battle Bank will allow your account to overdraw up to $500.00. There is no fee for this service, it is supplied as a courtesy to you. If we pay the debit transaction or item on your behalf, you will be responsible for the overdrawn balance.
Balance Computation Method. We use the average daily balance method to calculate 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.
Accrual On Noncash Deposits. Interest begins to accrue on the business day you deposit noncash items (for example, checks).
Transaction Limitations. No transaction limitations apply to this account.
Additional Information Regarding Your Account. Global Markets Portfolio Clients. Global Markets Portfolio clients will receive additional disclosures applicable to their Global Market Account.Processing and Posting Order. We will process debit and credit transactions in accordance with our processing order policy. The processing order of these debits and credits is important because if your account balance has insufficient funds to pay for them in the order that they are processed, there may be an overdraft on your account. We generally post transactions to your account in the order in which we receive them. We post deposits before withdrawals. We reserve the right to post transactions – including ATM withdrawals, wire transfers, debit card transactions, checks and any other type of transaction – in any order we determine. We also reserve the right to change our order of posting from time to time. Since we don’t have control over the order in which other institutions present transactions to us, we can’t always control when transactions post and transactions may not post in the order in which you made the transaction. The order in which we post your transactions may affect whether you have sufficient funds and you could overdraft your account. Transactions conducted by you or received by us on non-Business Days are processed on the next Business Day in which we receive the transaction. Deposits received prior to the day’s cut-off time or from the previous Business Day (see the Funds Availability Schedule in our Terms and Conditions) and posted before the withdrawals.
Fees and Charges. Please refer to the Fee Schedule provided to you in these Terms for information about fees and charges associated with this account. A Fee Schedule is provided to you at the time you open an account, periodically when fees or charges change, and upon request.
