Checking Accounts

REGULAR CHECKING ACCOUNTS

  • No minimum opening balance
  • $7.00 monthly service charge if average available balance falls below $300.00
  • No interest
  • Monthly statement

YES CHECKING ACCOUNTS (Youth Exempt Checking)

  • 23 and younger
  • No monthly service charge
  • No minimum amount needed to open account
  • Monthly statement

NOW ACCOUNTS (Interest Bearing Checking)

  • $7.00 monthly service charge if average available balance falls below $1500.00
  • No minimum opening balance
  • Interest compounded monthly
  • Monthly statement

MONEY MARKET ACCOUNTS

  • No minimum opening balance
  • A minimum balance fee of $7.00 will be imposed every month if your average daily balance for the month falls below $2,500.00
  • You may make six (6) transfers from your account monthly, but only three (3) may be payments by check to third parties. You will be assessed a $2.00 fee for each transaction over six and will transfer to a regular checking account
  • Interest compounded monthly
  • Monthly statement
Crediting of Non-Cash Deposits
 You will receive credit on the business day that you deposit non-cash items (for example, checks).
Fee Schedule
Stop Payment Fee of a Check $15.00
Insufficient Funds per Check Returned $15.00
Insufficient Funds per Check Paid $15.00
Overdraft Charges:
Under $1,000 $3.00 Daily
$1,000 - $5,000 $7.00 Daily
Over $5,000 $17.00 Daily
Cashier's Check $5.00 each
Wire Fee $20.00 each
Check printing charges - price varies depending on style - ask for specific charges
Dormant Fees
 An account is considered dormant when there is no activity on the account for 18 consecutive months. A $3.00 fee will be imposed every month if the average daily balance for the month falls below $300.00. A $6.00 fee will be imposed every month if the average daily balance for the month falls below $50.00. Statements will be mailed semi-annually.
Other fees may be charged on your monthly statement, see the fee schedule for a listing of the charges

 

Savings Accounts

REGULAR SAVINGS ACCOUNTS

  • No minimum opening balance
  • A fee of $5.00 will be imposed every quarter if the average available balance for the quarter falls below $500.00.
  • Twelve (12) free withdrawals per quarter $2.50 per withdrawal after twelve
  • Interest will be compounded quarterly and credited quarterly
  • Quarterly statement

YES SAVINGS ACCOUNTS (Youth Exempt Savings)

  • 23 and younger
  • No quarterly service charge
  • No minimum opening balance
  • Interest will be compounded quarterly and credited quarterly
  • Subject to transaction limitation fees
  • You may make twelve (12) free withdrawals from your account each quarter. You will be assessed a $2.50 fee for each transaction over twelve per quarter.
  • Quarterly statement

Balance Computation Method
We use the Daily Balance Method to calculate the Interest on your account. This method applies a daily periodic rate to the balance in the account daily. 

 

Compounding and Crediting
Interest will be compounded quarterly and credited quarterly.

 

Accrual of Interest on Deposits Other Than Cash
Interest begins to accrue on the business day you deposit non-cash items (for example, checks).

 

Dormant Fees 
An account is considered dormant when there is no activity on the account for 24 consecutive months. A $5.00 fee will be imposed quarterly if the average daily balance for the period falls below $500.00. A $10.00 fee will be imposed quarterly if the average daily balance for the period falls below $50.00. Your statement and interest cycle will change to a semi-annual cycle.

CLUB SANTA (Christmas Club)

  • No minimum amount needed to open account.
  • After the account is opened, you may not make withdrawals from the account
  • All deposits to the account must be made electronically - Frequency (weekly, biweekly, monthly) and dollar amount of deposits cannot be changed after the account's opening deposit.
  • Any withdrawal from this account before November of the current year will cause you to lose all accrued interest.
  • Club Santa payout done annually in November; can make changes at that time.

 

 

Please send comments & suggestions to customerservice@fsbimperial.com