Compare our Money Market and Savings products
| Account Features | Money Market | Savings Builder | Premier High Yield Savings |
|---|---|---|---|
| Annual Percentage Yield | –%1 |
< $25,000: –% APY**/0.995% Interest Rate*** < $25,000 with minimum $100 monthly deposit: –% APY****/1.686% Interest Rate ≥ $25,000: –% APY/1.686% Interest Rate |
–%***** |
| Minimum to Open Account | $100 | $100 | $100 |
| Interest Earned | Interest earned on entire daily balance. Compounded daily; paid monthly. | Interest earned on entire daily balance. Compounded daily; paid monthly. | Interest earned on entire daily balance. Compounded daily; paid monthly. |
| Zelle® and PayPal® | Yes | No | No |
| External Transfer Limits |
Electronic transfer (ACH): $2 million per transaction/$2 million daily PayPal: $50 per transaction/$50 daily Bill Pay: Account balance Zelle: $300 per transaction/$600 daily |
Electronic transfer (ACH): $2 million per transaction / $2 million daily | Electronic transfer (ACH): $2 million per transaction / $2 million daily |
| Excessive Transaction Fee | $10 per transaction; assessed from the first violation. $50 monthly cap. | Not applicable | Not applicable |
| FDIC Insured4 | Yes | Yes | Yes |
| 24-hour Online Account Access | Yes | Yes | Yes |
| Bill Pay | Coming soon | No | No |
| Monthly Service Fee | None | None | None |
| Monthly Transaction Limits3 | 6 | 6 | 6 |
| Overdraft Fee | $25 | Not applicable | Not applicable |
| Outgoing Wire Fee (domestic only) | $10 fee for account with daily average balance < $25,000; $0 for balances> $25,000. |
$10 fee for account with daily average balance < $25,000; $0 for balances> $25,000. |
$10 fee for account with daily average balance < $25,000; $0 for balances> $25,000. |
Savings Builder Disclosure
Savings Builder is a tiered interest rate account. Tier levels are subject to change without notice. Interest rates and Annual Percentage Yields (APYs) are variable and may change without notice. Minimum
to open account is $100. Fees could reduce earnings on the account.
*APY assumes the account is opened on the 15th day of the month and no qualifying deposits of $100 are made following account opening. Actual APY may be greater or less depending on the date the account is opened.
**Interest Rate is 1.686% during the Introductory Period and 0.995% thereafter.
***APY assumes additional qualifying deposits are made each Evaluation Period.
Important Definitions
- “Introductory Period” – Begins the day of account opening and continues through the first Evaluation Day.
- “First Evaluation Day” – Will occur at the end of the First Evaluation Period after account opening.
- “First Evaluation Period” – Begins on the third business day prior to the end of the month after the month of account opening and ends at 4:00 pm PT on the next month’s Evaluation Day.
Following the Introductory Period, the following definitions apply:
- “Evaluation Period” – Begins the day after an Evaluation Day and ends at 4:00 pm PT on the next month’s Evaluation Day.
- “Evaluation Day” – The fourth business day prior to the end of a month.
Introductory Interest Rate
During the Introductory Period, all new Savings Builder accounts will be paid the Upper Tier interest rate. After the Introductory Period ends, accounts will be evaluated on the first Evaluation Day to determine
the interest rate to be paid for the next Evaluation Period.
Monthly Determination of Interest Rate
On each Evaluation Day the interest rate applicable for the next Evaluation Period will be determined. Accounts with an end-of-day balance of at least $25,000 on the Evaluation Day or with at least
one deposit of $100 or more that posts to the account during the Evaluation Period will earn the Upper Tier interest rate during the next Evaluation Period. Accounts with an end-of-day balance less than $25,000 on an Evaluation Day without a deposit
of $100 or more that posts to the account during the Evaluation Period will earn the Base Tier interest rate for the next Evaluation Period. This process will occur every month.
Example: A Savings Builder account opened on April 15, 2020, and funded with an initial deposit of $12,000 would earn the Upper Tier interest rate during the Introductory Period, which begins on the account opening date and ends on the First
Evaluation Day, June 25, 2020.
The First Evaluation Period for this account begins on May 27, 2020 and ends on the First Evaluation Day, Thursday, June 25, 2020. With a balance less than $25,000, in order to continue earning the Upper Tier interest rate during the next Evaluation
Period, the customer must make at least one deposit of $100 or more during the First Evaluation Period, May 27, 2020 through June 25, 2020.
