Student Checking

Disclosure

• Minimum balance required to open the account         None
• Daily collected balance needed for interest to
      be paid on account                                                $100 or more
• Monthly basic service charge                                   None
• ATM/Debit card fee                                                $1.50/mo*
      *This fee may be offset by completing at least five debit card   
      transactions within the month.                 
• Images of checks returned in your statement             No
• Check Image Fee to receive images of checks with            
      your statement                                                       $5
• Photo Debit Card                                                    Free
• Item retrieval fee                                                    $2
• Foreign ATM withdrawals                                         Free

COMMON FEATURES FOR INTEREST BEARING PERSONAL CHECKING ACCOUNTS:

• The daily balance method will be used to calculate interest by applying a daily periodic rate to the full amount of principal in the account each day. The principal upon which interest will be paid will be the collected balance. The collected balance on any particular day is the ledger balance less any float connected with the current or previous day’s deposits.
• We pay the stated rate of interest on the entire collected balance, depending on what tier the balance falls.
• The interest rate and the annual percentage yield (APY) you will earn is variable and is set by the management of SCSB. The rate may change weekly. Please ask a Bank Representative for current rates or scsbnet.com.
• Interest will be compounded monthly and the interest will be credited to your account at the end of each statement cycle period. Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items, such as checks. Deposits received after 3 p.m. are credited to the next business day.
• If you close your account before interest is credited, you will receive the accrued interest.
• We reserve the right to require seven days notice before any withdrawal can be made from an interest-bearing account.
• Fees may reduce earnings.

ADDITIONAL COMMON FEATURES OF ALL SCSB PERSONAL CHECKING ACCOUNTS:

• Check printing fees may vary.
• 24 Hour Banker and Billpay                                           Free
• Transfer Fee (from a loan to cover an overdraft)             $5
• Automatic Transfer Fee (from a savings or checking
      account to cover an overdraft)                                     $5

 

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