A minimum deposit of $100,000 is required to open this account. There are no limitations on the number of deposits that may be made in connection with this account. There is however a limit of six pre-authorized or telephone transfers and withdrawals to another account of yours at Kirkpatrick Bank or to a third party per statement cycle. No more than three of which may be made by check, draft, debit card or similar order that is payable to a third party.
In that the
Premium Excel Money Market Savings account is an interest bearing account, the following applies:
The balance on which interest is calculated is determined by the daily balance method.
Interest begins to accrue no later than the business day we received credit for the deposit of non-cash items (e.g. checks).
Interest will be compounded monthly and credited monthly. The interest rate paid on this account is
established by Kirkpatrick Bank and may change
daily. Any change to the interest rate is at our
discretion.
If the account is closed before interest
is credited, accrued interest will not be paid.
No
minimum balance is required to maintain this
account. No monthly maintenance fee will apply. Four
free withdrawals per statement cycle are allowed. Withdrawals exceeding four per statement cycle are subject to a $15 fee. Complete account disclosures, with current annual percentage yield information, are available upon request.
