Disclosures
Personal Banking Disclosures
FUNDS AVAILABILITY DISCLOSUREYour ability to withdraw funds at:
westbury bank
200 South Main Street
West Bend, WI 53095
This policy statement applies to "transaction" accounts. Transaction accounts, in general, are accounts that permit an unlimited number of payments to third persons and an unlimited number of telephone and pre-authorized transfers to other accounts of yours with us. Checking accounts are the most common transaction accounts. Feel free to ask us whether any of your other accounts might also be under this policy.
Transaction Accounts
Our policy is to make funds from your cash and check deposits available to you on the first business day after the day we receive your deposit. Electronic direct deposits will be available on the day we receive the deposit. Once the funds are available, you can withdraw them in cash and we will use the funds to pay checks that you have written.
Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit.
For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. If you make a deposit before closing on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit after closing or on a day we are not open, we will consider that the deposit was made on the next business day we are open.
If we cash a check that is drawn on another bank, we may withhold the availability of a corresponding amount of funds that are already in your account. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it.
If we accept for deposit a check that is drawn on another bank, we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us. The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you deposited.
Longer Delays May Apply
Case-by-case delays - In some cases we will not make all of the funds that you deposit by check available to you on the first business day after the day of your deposit. Depending on the type of check that you deposit, funds may not be available until the fifth business day after the day of your deposit. The first $100 of your deposits, however, may be available on the first business day.
If we are not going to make all of the funds from your deposit available on the first business day, we will notify you at the time that you make your deposit. We will also tell you when the funds will be available. If your deposit is not made directly to one of our employees, or if we decide to take this action after you have left the premises, we will mail you the notice the day after we receive your deposit.
If you need the funds from a deposit right away, you should ask us when the funds will be available.
Safeguard exceptions - In addition, funds you deposit by check may be delayed for a longer period under the following circumstances:
- We believe a check you deposited will not be paid.
- You deposit checks totaling more than $5000 on any one day.
- You deposit a check that has been returned unpaid.
- You have overdrawn your account repeatedly in the last six months.
- There is an emergency such as a failure of computer or communications equipment.
Special Rules for New Accounts
If you are a new customer, the following special rules will apply during the first 30 days your account is open.
Funds from electronic direct deposits to your account will be available on the day we receive the deposit. Funds from deposits of cash, wire transfers, and the first $5000 of a day's total deposits of cashier's, certified, teller's, traveler's, and federal, state and local government checks will be available on the first business day after the day of your deposit if the deposit meets certain conditions. For example, the checks must be payable to you (and you may have to use a special deposit slip). The excess over $5000 will be available on the ninth business day after the day of your deposit. If your deposit of these checks (other than a U. S. Treasury check) is not made in person to one of our employees, the first $5000 will not be available until the second business day after the day of your deposit.
Funds from all other check deposits will be available on the tenth business day after the day of your deposit.
Non-transaction Accounts
Checks deposited to non-transaction accounts will be available as follows:
- U.S. Treasury checks payable to you and State of Wisconsin and local government checks payable to you will be available for cash withdrawal and to pay for checks you have written to others on the second business day after the day of deposit.
- Checks drawn on an institution located in Wisconsin will be available on the fifth day after the day of deposit for cash withdrawal and to pay checks you have written to others.
The availability of your funds will be delayed for an additional reasonable period of time under the following circumstances: We have reason to believe that a check deposit to your account will not be paid. Your account has been open for thirty days or less.
IDEAL Rewards Checking
Rate Information - This account has a premium rate feature. Your interest rate and annual percentage rate may change based on meeting the criteria for the premium rate.
Frequency of Rate Changes - The rates may change on this account at any time.
Determination of Rate - This account has a premium rate feature. You must meet the following criteria in order to qualify for the premium rate during each qualification cycle. The qualification cycle period runs from the second Wednesday of the month to the second Tuesday of the following month.
- Complete at least 10 debit card point of sale transactions using the signature, or credit, mode.
- Receive your monthly statement electronically.
- Authorize at least one monthly direct deposit or auto debit.
- Access Online Banking at least once a month.
- You must also keep us informed of a valid email address.
Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.
Minimum balance to open the account - You must deposit $50.00 to open this account.
Daily 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 principal in the account each day.
Accrual of interest on non-cash deposits - Interest begins to accrue on the first business day after the banking day you deposit non-cash items (for example, checks). A dormant account fee will be charged each month to accounts with no activity for 60 days and a balance of less than $100.00.
RATE INFORMATION
When IDEAL Checking premium rate requirements are met, the interest rate on the account is: 5.84% for the first $50,000.00, and 0.30% for the balance in excess of $50,000.00, with an annual percentage yield of: 6.01% for the first $50,000.00, and 0.30% for the balance in excess of $50,000.00. When IDEAL Rewards checking premium rate requirements are not met the Annual Percentage rate on the account is: 0.20% for the entire balance of the account. Please refer to the Understanding Your Deposit Account booklet for other important account terms and conditions.
Totally Free Checking Account
Minimum Balance to open the account - You must deposit $50.00 to open this account.
ATM Value Added Checking Account
Minimum Balance to open the account: a minimum deposit of $50.00 is required to open this account.
Fees: an ATM access fee of $12.00 will be charged annually. A dormant account fee of $5.00 will be charged each month to accounts with no activity for 60 days and a balance of less than $100.00.
Premier Gold Checking Account
Rate Information - Your interest rate and annual percentage yield may change.
Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.
Minimum balance to open the account - You must deposit $20,000.00 to open this account.
Minimum balance to avoid imposition of fees - A monthly service fee of $15.00 will be imposed every statement cycle if the average daily balance in the account falls below $20,000.00. The average daily balance is calculated by adding the principal in the account for each dayof the period and dividing that figure by the number of days in the period.
Daily 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 principal in the account each day.
Accrual of interest on non-cash deposits - Interest begins to accrue on the first business day after the banking day you deposit non-cash items (for example, checks).
CHECKING-WITH-INTEREST Account
Rate Information - Your interest rate and annual percentage yield may change.
Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.
Minimum balance to open the account - You must deposit $50.00 to open this account.
Minimum balance to avoid imposition of fees - A monthly service fee of $6.00 will be imposed every statement cycle if the balance in the account falls below $400.00 any day of the cycle.
Daily 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 principal in the account each day.
Accrual of interest on non-cash deposits - Interest begins to accrue on the first business day after the banking day you deposit non-cash items (for example, checks).
Fees: A dormant account fee of $5.00 will be charged each month to accounts with no activity for 60 days and a balance of less than $100.00
UNLIMITED-INTEREST Checking Account
Rate Information - Your interest rate and annual percentage yield may change.
Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.
Minimum balance to open the account - You must deposit $50.00 to open this account.
Daily 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 principal in the account each day.
Accrual of interest on non-cash deposits - Interest begins to accrue on the first business day after the banking day you deposit non-cash items (for example, checks).
Fees: A monthly service fee of $4.00 will be charged each statement cycle. A dormant account fee of $5.00 will be charged each month to accounts with no activity for 60 days and a balance of less than $100.00.
ECONOMY-INTEREST Checking Account
Rate Information - Your interest rate and annual percentage yield may change.
Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.
Minimum balance to open the account - You must deposit $50.00 to open this account.
Daily 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 principal in the account each day.
Accrual of interest on non-cash deposits - Interest begins to accrue on the first business day after the banking day you deposit non-cash items (for example, checks).
Fees: A per item fee of $.20 will be charged for each debit transaction (withdrawal, check paid, automatic transfer, or payment out of this account). A dormant account fee of $5.00 will be charged each month to accounts with no activity for 60 days and a balance of less than $100.00.50
PLUS-INTEREST Checking
Rate Information - Your interest rate and annual percentage yield may change.
Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.
Minimum balance to open the account - You must deposit $50.00 to open this account.
Daily 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 principal in the account each day.
Accrual of interest on noncash deposits - Interest begins to accrue on the first business day after the banking day you deposit noncash items (for example, checks).
Fees: A dormant account fee of $5.00 will be charged each month to accounts with no activity for 60 days and a balance of less than $100.00.
VIP Interest Checking Account
Rate Information - Your interest rate and annual percentage yield may change.
Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.
Minimum balance to open the account - You must deposit $50.00 to open this account.
Daily 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 principal in the account each day.
Accrual of interest on noncash deposits - Interest begins to accrue on the first business day after the banking day you deposit noncash items (for example, checks).
Fees: A dormant account fee of $5.00 will be charged each month to accounts with no activity for 60 days and a balance of less than $100.00.
WALL STREET Checking Account
Rate Information - Your interest rate and annual percentage yield may change.
Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.
Minimum balance to open the account - You must deposit $2500.00 to open this account.
Minimum balance to avoid imposition of fees - A monthly service fee of $8.00 will be imposed every statement cycle if the balance in the account falls below $1000.00 any day of the cycle.
Daily 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 principal in the account each day.
Accrual of interest on non-cash deposits - Interest begins to accrue on the first business day after the banking day you deposit non-cash items (for example, checks).
PREMIER Checking Account
Rate Information - Your interest rate and annual percentage yield may change.
Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.
Minimum balance to open the account - You must deposit $5000.00 to open this account.
Minimum balance to avoid imposition of fees - A monthly service fee of $10.00 will be imposed every statement cycle if the average balance in the account falls below $5000.00.
Daily 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 principal in the account each day.
Accrual of interest on noncash deposits - Interest begins to accrue on the first business day after the banking day you deposit noncash items (for example, checks).
NOT-FOR-PROFIT - INDIVIDUAL/CLUB Account
Minimum balance to open the account - You must deposit $50.00 to open this account.
Minimum balance to avoid imposition of fees - A monthly service fee of $3.00 will be imposed every statement cycle if the balance in the account falls below $500.00 any day of the cycle.
Fees: A per item fee of $.10 will be charged for each debit transaction (withdrawal, check paid, automatic transfer, or payment out of this account). This fee will apply if you fail to maintain the minimum daily balance of $500.00 during the month.
STATEMENT Savings / PASSBOOK Savings Account
Rate Information - Your interest rate and annual percentage yield may change.
Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.
Minimum balance to open the account - You must deposit $10.00 to open this account.
Minimum balance to avoid imposition of fees - A monthly service fee of $.50 will be imposed every statement cycle if the balance in the account falls below $200.00 any day of the cycle. This fee will be waived for students 19 years of age and under.
Daily 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 principal in the account each day.
Accrual of interest on non-cash deposits - Interest begins to accrue on the first business day after the banking day you deposit non-cash items (for example, checks).
Transaction limitations: Transfers from a Statement Savings account/Passbook Savings account to another account or to third parties by preauthorized, automatic, or telephone transfer are limited to six per calendar month with no transfers by check, draft, or similar order to third parties.
SUPER Savings Account
Rate Information - Your interest rate and annual percentage yield may change.
Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.
Minimum Balance to open the account - You must deposit $5000 to open this account.
Daily 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 principal in the account each day.
Accrual of interest on non-cash deposits - Interest begins to accrue on the first business day after the banking day you deposit non-cash items (for example, checks).
Transaction limitations - Transfers from a Super Savings account to another account or to third parties by preauthorized, automatic, or telephone transfer are limited to six per calendar month with no transfers by check, draft, or similar order to third parties.
Daily Money Market Account
Rate Information - Your interest rate and annual percentage yield may change.
Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.
Minimum balance to open the account - You must deposit $1000.00 to open this account.
Daily 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 principal in the account each day.
Accrual of interest on non-cash deposits - Interest begins to accrue on the first business day after the banking day you deposit non-cash items (for example, checks).
Transaction limitations - Transfers from a Daily Money Market account to another account or to third parties by preauthorized, automatic, or telephone transfer are limited to six per calendar month with no transfers by check, draft, or similar order to third parties.
COMMON FEATURES
The following fees may be assissed against your account and the following transaction limitations, if any, apply to your account.
| Check Printing Fee | Depends on style of check ordered |
| Temporary Checks | $.50 |
| Money Orders | $2.00 each |
| Traveler's Checks | All customers with at least a $500.00 minimum balance are entitled to an unlimited number of traveler's checks issue charge free. |
| Traveler's Checks | $1.00 per $100.00 |
| Official Checks (issued in amount less than $1,000.00) | $3.00 |
| Deposited checks (and other items) returned unpaid | $6.00 |
| Garnishments | $75.00 |
| Collections | $40.00 |
| IRS levies | $75.00 |
| Non-sufficient funds (NSF) | The categories of transactions for which an overdraft fee may be imposed are those by any of the following means: check, in-person withdrawal, ATM withdrawal, or other electronic means. |
| Non-sufficient funds (NSF) fee per check - PAID | $29.00 |
| Non-sufficient funds (NSF) fee per check - Returned | $29.00 |
| Sustained overdraft fee* | $7.00 |
| Account Activity Printout | $3.00 |
| Special statement cutoff | $3.00 |
| Account research | $25.00 per 1/2 hour |
| Account balancing assistance | $25.00 per 1/2 hour |
| Stop payments (all items) | $29.00 |
| Rejected Items from non-approved vendor | $5.00 |
| Account closed within 90 days of opening | $25.00 |
| Lost passbook or certificate of deposit | $15.00 each |
| Photocopies of paid checks | $15.00 |
| Domestic wire transfers - Outgoing | $20.00 |
| Domestic wire transfers - Incoming | $10.00 |
| Foreign wire transfers - Outgoing | $40.00 |
| Foreign wire transfers - Incoming | $10.00 |
We may require not less than 7 days notice in writing before each withdrawal from an interest bearing account other than a time deposit, or from any other savings account as defined by Regulation D. Withdrawals from a time account prior to maturity or prior to any notice period may be restricted and may be subject to penalty. See your notice of penalty for early withdrawal.
EQUAL HOUSING DISCLOSURE
WE DO BUSINESS IN ACCORDANCE WITH FEDERAL FAIR LENDING LAWS.
UNDER THE FEDERAL FAIR HOUSING ACT, IT IS ILLEGAL, ON THE BASIS OF RACE, COLOR, NATIONAL ORIGIN, RELIGION, SEX, HANDICAP, OR FAMILIAL STATUS (HAVING CHILDREN UNDER THE AGE OF 18), TO:
- Deny a loan for the purpose of purchasing, constructing, improving, repairing, or maintaining a dwelling, or to deny any loan secured by a dwelling;or
- Discriminate in fixing the amount, interest rate, duration, application procedures, or other terms or conditions of such a loan or in appraising property.
IF YOU BELIEVE YOU HAVE BEEN DISCRIMINATED AGAINST, YOU SHOULD SEND A COMPLAINT TO:
Assistant Secretary of Fair Housing and Equal Opportunity
Department of Housing and Urban Development
Washington, D.C. 20410
For processing under the Federal Fair Housing Act
AND TO:
Director, Consumer Affairs
Office of Thrift Supervision
Washington D.C. 20552
For processing under Office of Thrift Supervision Regulations
UNDER THE EQUAL CREDIT OPPORTUNITY ACT, IT IS ILLEGAL TO DISCRIMINATE IN ANY CREDIT TRANSACTION:
- On the basis of race, color, national origin, religion, sex, marital status, or age;
- Because income is from public assistance; or
- Because a right has been exercised under Consumer Credit Protection Act.
IF YOU BELIEVE YOU HAVE BEEN DISCRIMINATED AGAINST, YOU SHOULD SEND A COMPLAINT TO:
Director, Consumer Affairs
Office of Thrift Supervision
Washington, D.C. 20552
© Copyright 2009 Westbury Bank. All Rights Reserved.
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