Savings Accounts

Withdrawal Transaction Limitations:Savings and money market accounts are governed by federal regulations, which limit the number of certain types of transactions. From your savings or money market accounts, you are limited to six preauthorized, telephone or on-line transfers to your other Capitals United Bank accounts or to third parties. Additionally, this limitation includes checks, drafts, or similar orders you make payable to a third party. The limitation applies per statement cycle for monthly statements or calendar month for quarterly statements. Due to IRS regulations, these transfer options are not available for money market IRAs. In determining when a transfer is made, the bank will use the date the transfer is paid. If you routinely exceed these withdrawal limitations on your savings or money market accounts, the bank may close the account or convert the account to a checking account. The foregoing limitations do not apply to withdrawals made by you or transfers to other accounts, which you have with us when these transfers are made by messenger, in person or through ATMs. The federal regulatory limit applies regardless of account balance.

At the bank’s discretion, rates and yields are subject to change without notice after the account is opened. Interest is calculated and compounded daily on the collected balance in your account and credited to your account monthly. Fees may reduce earnings. To the extent required by law, Capitals United will report to the Internal Revenue Service any interest that is paid.

Cash Rewards Redemption: After the close of the billing period in which you earn Cash Rewards, if your card account is in Good Standing, you may redeem a minimum of $5 for either a statement credit to your card account or an ACH credit to a deposit account. You can earn a Loyalty Cash Bonus of 10% if you redeem through an ACH deposit into a Capitals United deposit account. Clients who redeem Cash Rewards through an ACH deposit into any Capitals United checking, savings or money market account will receive a 10% Loyalty Cash Bonus. For example, a 10% Loyalty Cash Bonus on $100 in base Cash Rewards would earn an additional $10, totaling $110 in Cash Rewards earnings..

The $17 Monthly Maintenance Fee is waived for the Advantage Money Market Savings account for each statement cycle in which an incoming electronic transfer or electronic deposit totaling at least $100 occurs OR a minimum daily collected balance of $10,000 is maintained. ATM transactions and over-the-counter transactions do not apply. Please see the Fee Schedule at Capitals United.com/feeschedule for further details.

The use of all savings and money market accounts for overdraft protection will result in a transfer fee of $12.50 per transfer, charged to the protected deposit account. All advances are subject to funds availability. Overdraft Protection Service is not available for all Capitals United products or product service areas. See your Capitals United representative for details.

For Advantage Money Market Savings accounts, an excessive withdrawal fee of $15 is assessed regardless of balance, for each excessive withdrawal if more than six pre-authorized, telephone funds transfers or third party transactions are paid during the statement cycle with a maximum of 6. Applicable fees assessed at the time of the withdrawal. Please see Fee Schedule for further details.