Checking and Savings Solutions

Personal and Business
Checking and Savings
Solutions
© 2016 Bank of Texas, a division of BOKF, NA. Member FDIC. Equal Housing Lender.
TX CN 4000 | Rev. 05/16
Call our 24-Hour ExpressBank
Dallas Area
TABLE OF CONTENTS
(214) 987-8840
Personal Checking
02
Personal Savings
04
(713) 578-3500
CD Options
06
Fort Worth Area
QuickSaveSM08
Business Checking
10
Business Savings
12
Overdraft Solutions
14
Disclosures16
Houston Area
(817) 399-8840
Outside These Areas
(800) 346-5312
Stop by one of our many
convenient banking locations.
Visit us online at
www.bankoftexas.com
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4
Welcome to Bank of Texas.
Do you remember your first piggy bank?
Your first paycheck? Remember how hard you
worked for that money? At Bank of Texas,
we do. That’s why we offer products and services
designed with you in mind – to help you make
the most of your money. We’ll help you get more
value, find more savings and provide you more
convenient ways to access and manage your
money. It’s our commitment to you.
Solutions to fit every need:
Checking and Savings Accounts
Home Improvement
Business Solutions
Together we’ll work to stay focused on the big
picture and a healthy financial future by providing
you with personal attention and a wide array of
convenient banking services, such as our
Online Banking, Mobile Banking, and free
access to any ATM in the nation*. In addition,
be sure to visit our online Resource Center
where you will always find valuable articles,
tips and tools to help you make smart decisions
about your money.
We’re happy to have you as our client and as part
of our community.
Long Live Your Money.
*Although we will not charge you a fee for using a non-Bank of Texas ATM,
some banks will. If they do, simply mail your original ATM receipts, along with
a completed ATM Rebate Form, and we will reimburse you for the surcharges.
For details on our ATM Rebate Program, please visit www.bankoftexas.com.
1
PERSONAL CHECKING
We offer a full range of checking accounts to serve
your every need.
ACCESS CHECKING
CHOICE CHECKING
ADVANTAGE
CHECKING
ADVANTAGE 55
CHECKING
Convenient account
for individuals who prefer
self-service banking
(ATM, Mobile, Online).
Full service account to
meet your banking needs,
including options to avoid
monthly service fees
Provides perks and
premiums based on your
entire banking relationship
Provides services to
manage your money,
for those 55 or over
Free
Free
Free
Free
Free
25 free transactions
Free
25 free transactions
Free
Unlimited Transactions
Free
Unlimited Transactions
Free
Free
Free
Free
1/4% off with auto debit
1/4% off with auto debit
1/4% off with auto debit
1/4% off with auto debit
Emergency Medical
CD Option
---
---
No
Yes
CD Bonus
---
---
Earn an extra .10% on CDs
Earn an extra .10% on CDs
Earns Interest
---
---
Yes
Yes
---
---
Free initial supply of Advantage
checks or 50% off additional styles.
Free Advantage 55 checks or
50% off additional styles.
---
---
Free
Free
---
---
Free
Free
Account Features
Online & Mobile Banking
Online and
Mobile Bill Pay
Debit Card
Preferred Loan Discount
Checks
Official Checks &
Money Orders
Incoming and Outgoing
Domestic Wires
Small Safe Deposit Box
---
---
Free
Free
Online Statement
enrollment required to
waive monthly service fee
Free Imaged Statement
Free Imaged Statement
Free Imaged Statement
Overdraft Fee Refund
Yes
Yes
Yes
Yes
Minimum Opening
Deposit
$50
$50
$50
$50
$5.95
$7.95
$15
$10
Statement
Monthly Service Fee
Required
to Waive Monthly
Service Fee
2
• Enroll in online
statements by turning
off paper delivery,
AND
• Use self-service
options to complete
deposits and
withdrawals
(ATM, Mobile,
Online).
• Total of $300
direct deposit(s)
(per statement cycle)
OR
• $1,400 average monthly
collected balance OR
• $5,000 average
monthly collected
balance in combined
deposit balances
(checking, savings or
money market)
Refer to page 16 for additional details regarding
the products and features described above.
•$10,000 average collected in
combined balances
• $5,000 average collected in
combined balances
3
PERSONAL SAVINGS
Earn interest on one of our great savings accounts.
PERSONAL SAVINGS 2.0
PERSONAL MONEY MARKET
PREMIER MONEY MARKET
A basic interest bearing account that
allows you to build a savings base
Standard money market account that
offers competitive interest rates and a
low minimum balance
Pays premium interest rates for
maintaining higher balances while
offering check writing convenience
Online & Mobile Banking
& ATM Access
Free
Free
Free
Check Access
No
Yes
Yes
Free Incoming Wires
No
No
Yes
Monthly
Monthly,
with free check images
Monthly,
with free check images
Compounded and paid monthly
Tiered rates, compounded and paid
monthly
Tiered rates, compounded and paid
monthly
$50
$50
$4.95 per month
$7.95 per month
$15 per month
$100 average collected balance for the
month or monthly electronic transfer(s)
of at least $5 from your Bank of Texas
Personal Checking account
$1,000 average collected balance for
the month
$10,000 average collected balance for
the month
Yes
Yes
Yes
Account Features
Statement
Earns Interest
Minimum Opening Deposit
Service Fee
Balance Required to Waive
Monthly Service Fee
Eligible for QuickSaveSM
$25
Minor children (under 18 years of age)
of clients may open with
no minimum opening deposit
See Page 6 For
CD Investment Alternatives
Refer to page 17 for additional details regarding
the products and features described above.
4
5
CD AND IRA OPTIONS
Get the security of a savings account while earning
higher yields with a guaranteed interest rate.
IRA (TRADITIONAL AND ROTH)
CERTIFICATE OF DEPOSIT
Account Features
Online & Mobile Banking
Statement
PREMIER MONEY MARKET
CERTIFICATE OF DEPOSIT
Provides peace
of mind with
fixed rates and terms
Earn competitive
money market rates while
building your retirement
Build a retirement
nest egg with
tax-deferred earning
Free
Free
Free
At maturity
Quarterly
Annually
Tiered rates,
compounded daily and paid monthly
Earns Interest
Minimum Opening
Deposit
Service Fee
Balance Required to
Waive Service Fee
Compounded and
paid quarterly
Tier I
Tier II
Tier III
Tier IV
Tier V
Tier VI
$0 - $9,999
$10,000 - $24,999
$25,000 - $49,999
$50,000 - $99,999
$100,000 - $249,999
$250,000 +
Compounded daily
and paid monthly
$1,000
$1,000
$100
---
$10 per quarter
$10 Annually
No monthly
service fee
Average collected
balance of $2,500
for the quarter
$10,000 total
IRA Plan Balances
Refer to page 17 for additional details regarding
the products and features described above.
6
7
QuickSave
SM
Your official “savings” partner.
Saving for the future is an important goal but we know
it’s not easy…especially when you go at it alone.
But what if you had a partner to help you, to make it
easier to save? Now you do with QuickSaveSM from
Bank of Texas. With QuickSaveSM, you automatically put
something into your savings when you use your Debit
Card or pay a bill with Online Bill Pay.
Plus, we will match a portion of those savings…
100% of your QuickSaveSM savings for the first three
months and 5% thereafter. Just tell us the amount
you want to transfer to your savings account with each
transaction and we’ll do the rest.
How QuickSaveSM Works†
To enroll, tell us how much you want to save with each
Debit Card and Online Bill Pay transaction -- $0.25 or
$0.50. We’ll link your checking account to a savings or
money market account.
Each night, we’ll take the number of Debit Card and
Online Bill Pay transactions, multiply the total by
your QuickSaveSM amount, $0.50 or $0.25, and then
transfer that amount to your savings or money market
account in one transfer. Each year, we’ll automatically
transfer our match amount within 6-8 weeks after the
anniversary date of your account.
After you’ve enrolled, log on to Online Banking to see
the transfer activity in both your checking account and
savings account.
We’ve taken the tricky part out of saving for
the future -- having to do it all by yourself.
With QuickSaveSM, we’ve made saving effortless.
Just stop by one of our local banking centers or
call an ExpressBanker to get started today!
Refer to page 20 for QuickSaveSM terms and conditions.
†
8
For a list of Frequently Asked Questions or
more details about this product, please visit
www.bankoftexas.com/personal/quicksave
or ask your Personal Banker.
9
BUSINESS CHECKING
Business checking solutions that best
fit your needs.
FREE SMALL
BUSINESS CHECKING
BUSINESS INTEREST
CHECKING
Account Features
Designed for your basic business needs
Cover your basic business needs
while earning interest
Designed for businesses with
moderate transaction volume;
provides rewards based on the
entire banking relationship
Online & Mobile
Banking & Bill Pay
Free Online Banking
15 Free Bill Pay Transactions
Free Online Banking
15 Free Bill Pay Transactions
Free Online Banking
25 Free Bill Pay Transactions
Business Debit Card
Free
Free
Free
Merchant Services
Discount Available
Discount Available
Discount Available
Yes
Yes
First Order Discount - $25.00 discount
on Business Checks or 50%
off Personal Checks
Checks
Earns Interest
---
Tiered rates,
compounded and paid monthly
Tier I
Tier II
Tier III
$0 - $9,999
$10,000 - $49,999
$50,000 +
BUSINESS ADVANTAGE
CHECKING
---
Overdraft Protection
Yes
Yes
Yes
Minimum Opening Deposit
$50
$50
$50
Monthly Service Fee
---
$15
$20
First 200 transactions are free;
$0.40 per transaction thereafter;
Business Debit Card transactions do not
count toward 200 - transaction limit
First 200 transactions are free;
$0.50 per transaction thereafter;
Business Debit Card transactions do not
count toward 200 - transaction limit
First 400 transactions are free;
$0.40 per transaction thereafter;
Business Debit Card transactions do not
count toward 400 - transaction limit
---
$10,000 average monthly balance
Monthly Transaction Fee Details
Balance Required to Waive
Monthly Service Fee
$10,000 average monthly balance or
$25,000 combined deposit balances or
$50,000 combined loan balances
(Including Personal & Business Accounts)
Refer to page 18 for additional details regarding
the products and features described above.
10
See Page 13 For
Business Savings Solutions
11
BUSINESS SAVINGS
Our Business Savings accounts are designed to let you
invest your cash resources.
BUSINESS
SAVINGS
BUSINESS HIGH YIELD
INVESTOR FUND
CERTIFICATE OF
DEPOSIT
Designed to let
you invest your cash
resources
Earn higher interest
rates with check
writing convenience
Earn competitive
returns with the
security of FDIC
Online & Mobile Banking
& ATM Access
Free
Free
Free
Check Access
No
Yes
No
Quarterly
Monthly, with
free check images
At maturity
Account Features
Statement
Tiered rates,
compounded and paid monthly
Earns Interest
Compounded and
paid quarterly
Minimum Opening
Deposit
Tier I
Tier II
Tier III
Tier IV
Tier V
$2,500 - $19,999
$20,000 - $49,999
$50,000 - $99,999
$100,000 - $999,999
$1,000,000 +
Compounded and
paid quarterly
$100
$2,500
$1,000
Service Fee
$2 per month
$10 per month
---
Balance Required to
Waive Service Fee
$300 average
ledger balance
$2,500 average
collected balance
No monthly
service fee
Refer to page 19 for additional details regarding
the products and features described above.
12
13
Overdraft Solutions
Ever made a mistake with your checking account, such as
written a check for more money than the available balance?
We want to help you avoid these situations by offering a
number of solutions:
Keep Track of Your Account 24/7 with
Free Online Banking
It’s secure, fast, and easy to manage your account
anywhere you have Internet access.
With Online Banking, you can review pending transactions
and see detailed views of your account activity to determine
which checks have cleared or deposits have posted. You
can also review check images and account statements.
Plus, you can transfer funds between your Bank of Texas
accounts and establish email alerts to multiple email
addresses to monitor your account activity.
It’s easy to enroll.
Visit us online at www.bankoftexas.com.
Tips on How to Avoid Overdraft and
Returned Item Fees
•• K
eep track of how much money you have in your
checking account by keeping your check register
up-to-date. Record all checks when you write them
and other transactions when you make them.
And don’t forget to subtract any fees.
Protect Your Accounts with Overdraft Protection
Link your checking account to your Bank of Texas savings,
money market or line of credit account. In the event of an
overdraft, we will automatically transfer available funds to
cover the overdraft. A nominal transfer fee or interest
may apply.1
•• P
ay special attention to your electronic transactions.
Record your ATM withdrawals and fees, Debit Card
purchases, and other online payments.
Need to enroll, stop by your local banking center or call
our 24-Hour ExpressBank.
•• Keep an eye on your account balance.
•• D
on’t forget about automatic bill payments you may
have set up for utilities, insurance, or loan payments.
•• R
emember that some checks and automatic
payments may not have cleared yet.
Review Your Account Statements Each Month.
Between statements, you can find out which
payments have cleared and check your balance by
using Free Online Banking. You can also check your
account balances and listen to transaction history
with our automated phone service.
1. See Summary of Fees and Definitions for pricing. Ask a Personal Banker for the current personal
Line of Credit interest rate.
14
15
PERSONAL CHECKING DISCLOSURES
Feature: Monthly Statement
Products: Access Checking
Online Statements are required in order to avoid a service fee. Although your
account statements are available to you online at the time of your account opening,
you will still be required to Opt Out of paper statements by logging in to Online or
Mobile Banking, and accepting the Online Statements Terms and Conditions. Opting
out of paper statements will waive your monthly fee, and terminate the mailing of
your monthly statement. Should you choose to receive a paper statement via postal
mail, a $5.95 monthly service fee will be assessed per statement cycle.
Feature: Online Bill Pay
Products: Varies, see detail below.
•• Access Checking – There is no monthly maintenance fee. The first 25 Bill Pay
transactions per statement cycle are free, $0.40 per Bill Pay transaction thereafter.
•• Choice Checking – There is no monthly maintenance fee. The first 25 Bill Pay
transactions per statement cycle are free, $0.40 per Bill Pay transaction thereafter.
•• Advantage/Advantage 55 – There is no monthly maintenance fee and there
are unlimited Bill Pay transactions at no charge.
Feature: Preferred Loan Rates
Products: All Personal Checking
Discount applies to the Interest Rate at the time of application. Payment must be
automatically debited from a Bank of Texas checking account. Loan discounts do not
apply to all types of loans and are applicable for new loans only. Some restrictions
apply. All offers subject to credit approval.
Feature: Emergency Medical CD
Product: Advantage 55
Advantage 55 clients may designate one CD as an Emergency Medical CD,
from which they may withdraw funds without penalty in the event of a medical
emergency. We reserve the right to request documentation that verifies the medical
emergency prior to granting the penalty-free withdrawal.
Feature: CD Bonus
Products: Advantage and Advantage 55
Advantage/Advantage 55 clients can receive an additional .10% when you link your
new CD to your Advantage/Advantage 55 Checking Account. Contact a banker to
request your new CD be linked to your Advantage/Advantage 55 Checking Account,
as the linkage will not occur unless requested. If the linked CD renews into a
different term or product from the original type at maturity, please contact a banker to
request a link from the new CD to your Advantage/Advantage 55 Checking Account.
This premium does not apply to CDs opened before your Advantage/Advantage 55
account was opened or upgraded to Advantage. If you close your account or change
the product type from Advantage/Advantage 55, the .10% premium may not apply.
All other terms and conditions regarding the CD apply.
Feature: Interest-Bearing Accounts
Products: Advantage and Advantage 55
Tiered rates compounded and paid monthly. Maintain a daily collected balance
according to the tiers to obtain the disclosed annual percentage yield. Refer to page
22 for additional interest information.
Feature: Safe Deposit Box
Products: Advantage and Advantage 55
Advantage and Advantage 55 clients pay no annual rental fee for small box. Subject
to availability.
Feature: Overdraft Fee Refund
Products: All Personal Checking
One per calendar year, at client’s request.
Feature: Overdraft Protection
Products: All Personal Checking
Automatic transfers from your savings or money market account. Subject to
withdrawal limitations. A transfer fee will apply. See Summary of Fees and
Definitions for pricing.
16
Feature: Requirements to Waive Monthly Service Fee
Products: Varies, see detail below.
•• Advantage and Advantage 55 – A total average collected and combined
balance for the month. May be combined balance in any combination of the
following personal accounts: checking, money markets, savings, CDs, IRAs,
installment loans, lines of credit and/or a first mortgage from Bank of Texas
Mortgage. Personal accounts linked to your account to qualify as combined
balances may only be used once. For example, your CD can only be linked to one
account to offset the monthly maintenance fee.
•• Access Checking – The monthly service fee can be avoided by doing the
following:
1. Receive Online Statements and
2. Use self-service options to complete deposits and withdrawals.
•• Choice Checking – The monthly service fee can be avoided by doing one of
the following:
1. Maintain a $1,400 average monthly collected balance in your Choice
Checking account.
2. Maintain a $5,000 average monthly collected balance in combined
balances within your Choice Checking account and your other personal
Money Market or Savings accounts. Personal accounts linked to your
account to qualify as combined balances may only be used once. For
example, your Savings Account can only be linked to one account to
offset the monthly maintenance fee.
3. Direct Deposit. Qualifying direct deposits are deposits of regular
monthly income of at least $300 per statement cycle which are
deposited electronically to your account through the automated
clearinghouse (ACH). Examples would be your salary, pension,
government benefit payment, such as Social Security, or regular
monthly income from an employer or third party.
Other types of transfers and deposits do not qualify. Examples of nonqualifying transfers and deposits include: deposits made at a banking
location or ATM, wire transfers, Online Banking transfers, non-periodic
direct deposits (such as tax refunds or payments) or transfers from one
account to another.
PERSONAL SAVINGS, MONEY MARKET AND CD DISCLOSURES
Feature: Interest
Products: Personal Savings 2.0, Personal Money Market and Premier
Money Market
The interest rate and Annual Percentage Yield (APY) are administered by the Bank
and may change daily at the discretion of the Bank, unless stated otherwise. Account
fees may reduce earnings. Please ask for a current rate sheet for rate information.
Refer to page 22 for additional interest information.
Feature: Interest Compounding and Withdrawal Information
Product: Personal Savings 2.0
Permitted to make a total of 6 withdrawals a month by the following methods:
automatic transfers, preauthorized payments, telephone (including 24-Hour
ExpressBank and Online Banking) and wire transfers. A $2 fee will be assessed for
each transaction exceeding these limits. To comply with federal regulations, the Bank
may be required to close any account exceeding these limits.
Feature: Interest Compounding and Withdrawal Information
Product: Personal Money Market and Premier Money Market
Maintain a daily collected balance according to the tiers to earn the disclosed APY.
Permitted to make a total of 6 withdrawals a month by the following methods: thirdparty checks and drafts, automatic transfers, preauthorized payments, telephone
(including 24-Hour ExpressBank and Online Banking) and wire transfers. A $10 fee
will be assessed for each transaction exceeding these limits. To comply with federal
regulations, the Bank may be required to close any account exceeding these limits.
17
Feature: Interest and Related Information
Product: Premier Money Market IRA
Maintain a daily collected balance according to the tiers to earn the disclosed APY.
Federal regulations limit certain transactions from Money Market IRAs. No more
than six preauthorized or telephone withdrawals and transfers are allowed each
quarterly statement cycle. Check writing is not available with this account, although
withdrawals may be made at the banking center.
Withdrawals from IRAs prior to age 59 may be subject to a 10% additional federal
tax as well as being subject to ordinary federal and state income taxes.
Feature: Tax Deductibility
Products: Premier Money Market IRA and IRA CD
Consult your tax advisor regarding deductibility.
Feature: Account Administration
Products: IRA Certificate of Deposits
An annual (every March) maintenance fee of $10 will be charged for your Traditional
IRA, Roth or SEP plan. This fee can be avoided if your total IRA plan balance is
$10,000 or greater. If you have more than one IRA CD within your IRA CD, the fee
will be deducted from the IRA CD based on your current distribution order. Generally
the distridution order begins with the IRA CD with the lowest interest rate.
A transfer fee of $25 will be charged for Direct Custodian transfers to another
institution. If the amount you transfer is less than 100% of the balance in your plan,
the transfer fee will be deducted from your remaining account balance(s). If the
amount you transfer is 100% of the balance in your plan, the transfer fee will be
deducted from the balance before the transfer is completed.
Please refer to your IRA plan agreement for additional information.
BUSINESS CHECKING DISCLOSURES
Feature: Online Bill Pay
Products: Free Small Business Checking and Business Interest Checking
First 15 Bill Pay transactions per month free, $0.50 per transaction thereafter.
Feature: Online Bill Pay
Products: Business Advantage Checking
First 25 Bill Pay transactions per month free, $0.50 per transaction thereafter.
Feature: Interest
Product: Business Interest Checking
Tiered rates compounded and paid monthly. Maintain a daily collected balance
according to the tiers to obtain the disclosed annual percentage yield. Refer to
page 22 for additional information regarding interest.
Feature: Overdraft Protection
Products: Free Small Business Checking, Business Interest Checking and
Business Advantage Checking
Automatic transfers from your savings or money market account.
Subject to withdrawal limitations. A transfer fee will apply. See Summary of
Fees and Definitions for pricing.
Feature: Monthly Transaction Fee Details
Product: Free Small Business Checking, Business Interest Checking and
Business Advantage Checking
•• Transactions include checks written, debits, deposits, items deposited
and transfers.
•• Business Advantage and Business Interest Checking – Receive check
images at no fee.
•• Free Small Business Checking – Receive check images at no fee,
check return with monthly statement is $10 per month.
18
Feature: Balance Required To Avoid Monthly Service Fee
Product: Business Advantage Checking
The monthly service fee can be avoided by doing one of the following:
•• Maintain a $10,000 average monthly collected balance in your Business
Advantage account.
•• Or, maintain a $25,000 average monthly collected balance in combined
balances within your Business Advantage account and your other deposit
accounts (Money Market, Savings or CD balances). The other deposit
accounts may be in the business name and also include your personal
accounts. Business and personal accounts linked to your Business Advantage
account to qualify as combined balances may only be used once. For
example, your CD can only be linked to only one account to offset the
monthly maintenance fee.
•• Or, maintain a $50,000 average monthly collected balance in combined
balances with your Business Advantage account, other deposit accounts (as
noted above) and business and/or personal loans or advanced line of credit
balances. As described above, loans may only be used once as a combined
balance. Consumer Mortgages originated from the bank’s Mortgage
Company are not eligible.
Note: Monthly Transaction Fees are not eligible to be waived.
We reserve the right to limit the number of checking accounts that
may be opened per client or organization.
BUSINESS SAVINGS DISCLOSURES AND
BUSINESS HIGH YIELD INVESTOR FUND
Feature: Interest
Products: Business Savings and Business High Yield Investor Fund
The interest rate and Annual Percentage Yield (APY) are administered by
the Bank and may change daily at the discretion of the Bank, unless stated
otherwise. Account fees may reduce earnings. Please ask for a current rate
sheet for rate information. Refer to page 22 for additional interest information.
Feature: Interest Compounding and Withdrawl Information
Products: Business Savings
Maintain a daily collected balance of $100 to earn the disclosed APY. Permitted
to make 2 withdrawals a month by the following methods: automatic transfers,
preauthorized payments, telephone (including 24-Hour ExpressBank and Online
Banking) and wire transfers. A $2 fee will be assessed for each transaction
exceeding these limits. To comply with federal regulations, the Bank may be
required to close any account exceeding these limits.
Feature: Interest Compounding and Withdrawl Information
Products: Business High Yield Investor Fund
Maintain a daily collected balance according to the tiers to earn the
disclosed APY. Permitted to make a total of 6 withdrawals a month by
the following methods: third-party checks and drafts, automatic transfers,
preauthorized payments, telephone (including 24-Hour ExpressBank and Online
Banking) and wire transfers. To comply with federal regulations, the Bank may
be required to close any account exceeding these limits.
Feature: Deposit Item Fee
Products: Business High Yield Investor Fund
Includes 15 free deposited items a month, $0.07 per item thereafter.
19
QUICKSAVESM TERMS AND CONDITIONS
The QuickSaveSM Program
Other QuickSaveSM Requirements
It’s easy. You enroll in the QuickSaveSM program. You choose a QuickSaveSM
transfer amount, either $0.50 or $0.25. We transfer money to your savings
each time you use your Bank of Texas Visa® Debit Card or Bank of Texas’
electronic, Online Bill Pay service. We even match a portion of your savings.
To enroll for QuickSaveSM, you must have at least one Bank of Texas personal
checking account, linked to a Bank of Texas personal savings or money market
account and an open Bank of Texas personal Debit Card.
How QuickSaveSM Works
At the end of each business day, we determine the number of Debit Card
and Online Bill Pay transactions that are eligible QuickSaveSM transactions.
We multiply the number of eligible transactions by your QuickSaveSM transfer
amount, then we make a QuickSaveSM transfer, that is, we move a single
credit amount to your savings or money market account.
For example, if you have 3 eligible transactions (Debit Card or electronic,
Online Bill Pay) through your checking account and your QuickSaveSM transfer
amount is $.50, we will deduct $1.50 from your checking account and credit
your savings or money market account with $1.50.
Eligible transactions made on a non-business day will be combined with
eligible transactions made on the following business day. The term “business
day” means every day except Saturdays, Sundays, and federal holidays.
Enrollment in the QuickSaveSM program requires that you receive a combined
statement. This means your savings will be linked to a personal checking account.
After three successive months of no eligible QuickSaveSM transactions,
your account will be un-enrolled and any accrued bank match awards will
be forfeited.
The QuickSaveSM program is available only in association with personal
accounts. The program is not available to business entities.
Bank Match Award
The QuickSaveSM transfer will not be processed on any day that sufficient funds
are not available or if the QuickSaveSM transfer would result in an overdraft.
In such a case, the QuickSaveSM transfer will not be processed at a later date.
Each year, we will automatically transfer the bank match award to your
personal savings or money market account within 6-8 weeks after your
QuickSaveSM enrollment anniversary date.
You may change your QuickSaveSM transfer amount at any time by telephone
or by visiting any Bank of Texas banking center location.
During the first three months after your enrollment in the QuickSaveSM
program, we will match 100% of your QuickSaveSM transfers. Afterward,
we will match 5% of your QuickSaveSM transfers.
Eligible QuickSaveSM Transactions
Purchases you make with your Bank of Texas Debit Card (signature or
PIN-based) are eligible transactions. The purchase must result in a debit
transaction that posts to your preselected, personal Bank of Texas checking
account. The purchase of foreign currency, travelers checks, cashier’s
checks and other similar instruments are not eligible transactions. All other
transactions conducted using your Debit Card such as deposits, withdrawals,
balance inquiries, transfers, credits, pre-authorizations, reversals, and other
checking account inquiries are not eligible transactions, including any and all
small dollar transactions not executed within the spirit of the program (i.e.
multiple $1.00 transactions).
All electronic Bank of Texas Online Bill Pay transactions are eligible
transactions except for those small dollar transactions not executed within
the spirit of the program (i.e. multiple $1.00 transactions). Online Bill Pay
transactions that do not result in an electronic transfer of money are not
eligible transactions. These non-eligible transactions post to your account
(and are listed on your statement) as a paper check.
If the eligible Debit Card or electronic, Online Bill Pay debit transaction is later
cancelled or reversed, the original QuickSaveSM transfer will remain in your
savings or money market account.
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You may link up to three personal checking accounts to one QuickSaveSM
enrolled savings or money market account. You may have only one personal
savings or money market account enrolled in the QuickSaveSM program. At
least one checking account owner must also be an owner on the personal
savings or money market account.
To receive the bank match award, at the time the bank match award is
credited, you must be enrolled in and actively using the QuickSaveSM program.
Both of your enrolled accounts (savings or money market and checking) must
be open and in good standing.
The bank match award is limited to $250 annually.
You are only eligible for one, 3-month, 100% bank match award. If you enroll
in the QuickSaveSM program and we determine that you were previously
enrolled and have already received a 3-month, 100% bank match award, we
may immediately, and without notice to you, disqualify related transactions or
reduce the bank match amount.
The amount of the bank match award paid to you will be reported to the IRS
on Form 1099 as earned interest in accordance with IRS guidelines.
We may suspend, terminate, or change the QuickSaveSM program and/or these
terms and conditions at any time and without notice. We may also un-enroll
your account(s) from the QuickSaveSM program and/or disqualify any or all
transactions, eligible or otherwise, in our sole discretion, including any and
all small dollar transactions not executed within the spirit of the program (i.e.
multiple $1.00 transactions).
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INFORMATION REGARDING INTEREST-BEARING ACCOUNTS
Interest begins to accrue no later than the business day that the Bank receives
credit for the deposit of noncash items, such as checks. Unless stated otherwise,
we use the average daily collected balance method to calculate interest on
your account.
The interest rate and Annual Percentage Yield (APY) are administered by the Bank
and may change daily at the discretion of the Bank, unless stated otherwise.
Account fees may reduce earnings. Please ask for a current rate sheet for interest
rate information.
For additional information, read the Summary of Fees and Definitions and the
Agreements and Disclosures.
CD INTEREST COMPOUNDING AND PAYMENT OPTIONS
Time Deposit
Product
Compounding
Interest
Paid
Standard CDs
Term less than
3 months
None
At maturity
Standard CDs
Terms 3 months
and greater
Quarterly
Quarterly and
at maturity
Jumbo CDs
Quarterly
Quarterly and
at maturity
IRAs
Daily
Monthly and
at maturity
NOTE: Interest will be paid to the CD no less frequently than indicated above.
For other than IRA CDs, you may elect to have interest paid to you, rather than
to the CD, on a monthly, quarterly, semi-annual or annual basis. Interest begins
to accrue no later than the business day that the Bank receives credit for the
deposit of noncash items, such as, checks.
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