First International Bank & Trust
Kids Club Savings Account
TRUTH IN SAVINGS DISCLOSURE

This disclosure contains the rules which govern your deposit account. Unless it would be inconsistent to do so, words and phrases used in this disclosure should be construed so that the singular includes the plural and the plural includes the singular.

The current interest rate and annual percentage yield for this account may be obtained by calling us at 1-800-359-8092.


We reserve the right to at any time require not less than 7 days notice in writing before any withdrawal from an interest bearing account.

VARIABLE RATE:
The interest rate for your account is a variable rate. The interest rate and annual percentage yield for your account may change. The interest rate and annual percentage yield for your account depend upon the applicable rate tier. The interest rate and annual percentage yield for these tiers may change.

Determination of rate: At our discretion, we may change the interest rate on your account.

Frequency of rate change:We may change the interest rate on your account at any time.

Minimum Balance Requirements: To avoid the imposition of the service charge fee you must meet the following requirements: A service charge of $6.00 will be imposed every calendar quarter if the average daily balance for the calendar quarter falls below $200.00. 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.

Compounding and Crediting: Interest will be compounded every quarter. Interest will be credited every quarter.

If you close your account before interest is credited, you will receive the accrued interest.

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. The period we use is Calendar Quarter.

Accrual of interest on non-cash deposits:Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items, for example, checks.

Transaction Limitations:
You may make no more than 6 preauthorized or automatic withdrawals or transfers from this account per month.  Transfers include those by telephone and Personal Online Banking. Exceeding the transaction limitations is prohibited by regulation. In-person transactions are not limited. If the limits are repeatedly exceeded, we are required to change your account type or remove the account's transfer capabilities. Transactions made in person may still be allowed.

Additional Terms:
  • This account will be exempt from a minimum balance requirement and quarterly service charges until you reach the age of 24 or if you are age 65 or older.
  • Each Stop Payment requested will be charged $30.00 per item or $60.00 for a range of items.
  • A dormant service charge fee of $6.00 will be charged quarterly if for two years no deposits or withdrawals are made to the account and if the account balance falls below a constant minimum balance of $1,000.
  • If you use an automated teller machine that is not operated by us, you may be charged a fee by the operator of the ATM or Network.
  • If you conduct a transaction with the ATM card in a foreign country, there will be an International Service Assessment or an International Currency Conversion fee of up to one percent (1%) of the transaction amount that will be included in the transaction that appears on your monthly statement.
  • We charge a $30 overdraft fee for each item that causes your account to become overdrawn.
  • We charge a $30 continuous negative balance fee each 7th day the account is overdrawn.
  • An early account closing charge of $10.00 will be assessed on any account that has been open less than 6 months.
  • A non-sufficient funds (overdraft/negative balance) may result from: a) in-person withdrawals or other electronic funds transfers, or other withdrawal requests you initiate; b)payments authorized by you; c)the return of unpaid items deposited by you; d)charging your account for our applicable service charges and fees; or e)the deposit of items to your account which according to our Funds Availability Policy, are treated as not yet "available" or "finally paid".
  • Refer to the Fee Schedule for charges for other requested services.
Average Daily Balance APY* Interest Rate
$0.00-$99,999.99    
$100,000.00 - $499,999.99 For current interest rate and annual percentage yield information please call 1-800-359-8092.
$500,000.00 - $999,998.99    
$999,999.00 & Up    

*APY = Annual Percentage Yield
                                                                                                                       6.13
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First International Bank & Trust © 2014
100 North Main
Watford City, North Dakota 58854
1-800-359-8092 webmaster@firstintlbank.com
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