BBVA Compass ClearChoice
Savings
Account Disclosure - Alabama
ACCOUNT OPENING AND USAGE
Minimum deposit needed to open account $25
Quarterly Service Charge $15
Ways to avoid quarterly Service Charge (1)Daily Collected Balance of at least $500 in this account; or
(2) Have an automatic, recurring monthly transfer of at least $25 from a BBVA Compass checking account to your savings account when the Service Charge would be assessed.
Does the account earn interest? Yes Interest is earned on the entire account balance. For additional interest rate and interest calculation information, see the account disclosures and Relationship Summary Form.
How often will statement be available? Quarterly
Quarterly Paper Statement Fee $3 How to avoid the Paper Statement
Fee?
(1) sign in to Online Banking; and (2) turn off paper statements After doing this you will receive your statements in Online Banking and will no longer receive a paper statement
Excess Transaction Fee $3 Charged for each withdrawal over 4
per statement cycle
Insufficient (NSF) Funds Charge- Paid Item $38 For each paid item presented against insufficient funds
Insufficient (NSF) Funds Charge- Returned Item $38 For each returned item presented against insufficient funds
Extended Overdraft Service Charge $25 Charged when your account remains
overdrawn for 10 consecutive calendar days. An additional $25 extended overdraft penalty will be charged if your account remains negative for 20 consecutive calendar days.
Stop Payment Fee $32 For each request made by telephone or in-branch
Early Account Closing Fee $25 If account closed within 180 days of opening
Dormant Account Fee $15 Per quarter
Other Service Fees Please consult your account disclosure
for a list of additional service fees, including the Paper Statement Fee
TRANSACTION LIMITS
Federal law governs withdrawal transactions from this account. And if transactions exceed limits, the account could be reclassified as non-interest bearing. Federal law limits transfers to another deposit account with BBVA Compass or to a third party to a total of 6 per month. These transfers include: preauthorized agreement, telephone request, check, check card, draft including Online Banking transfers and sweep transfers. There is no withdrawal limit from this account when made in person at a BBVA Compass banking office or at an ATM. Inter-Account Transfers are considered withdrawal transactions subject to these federal transaction limitations. Withdrawal transactions subject to Excess Transaction Fees described above and in your account disclosure.
PROCESSING POLICIES
Posting Order
The order in which withdrawals and deposits are processed We process and post transactions -both credits (including deposits) and debits - throughout the day. This approach allows us to more closely match the posting of transactions on your account with the timing of your actual account activity.
Note: Deposits received and posted late in the day will not cover payments and withdrawals posted earlier the same day.
Summary of Our Deposit Hold Policy
When funds deposited to your account are usually available for deposits less than $5,000 and absent exceptional circumstances - see the Consumer Deposit Account Agreement for a detailed description of our policy
Cash deposit with Teller or ATM: same business day as the day of deposit
Direct deposit or wire transfer: same business day as the day of deposit
Check deposit with Teller or ATM: same business day as the day of deposit
If something causes a longer hold on a deposit, the first $200 of that deposit will generally be made available the same business day as the day of deposit.
A "business day" is a non-holiday weekday. At branches, business days end at closing time. At ATMs business days end no earlier than 8:30 p.m.
DISPUTE RESOLUTION through jury trial. Please see the arbitration and waiver of jury trial provisions in your Consumer Deposit Account Agreement for additional details.
Full Terms & Conditions
ACCOUNT OPENING AND MAINTENANCE
Minimum deposit needed to open account
$25 Quarterly Service Charge $15 Ways to avoid quarterly Service Charge
(1) Daily Collected Balance of at least $500 in this account; or
(2) Have an automatic, recurring monthly transfer of at least $25 from a BBVA Compass checking account to your savings account when the Service Charge would be assessed.
Statement Cycle Quarterly
Paper Statement Fee $3 per statement cycle
The Paper Statement Fee will be assessed in the following statement cycle. For example, the Paper Statement Fee for the December statement will be assessed in March and will appear on the March statement.
How to Avoid the Paper Statement Fee You can avoid the Paper Statement Fee by turning off your paper statements and receiving your account statements electronically through Online Banking.
Early Account Closing Fee $25
The Early Account Closing Fee is assessed when a new account is closed within 180 days of opening.
Dormant Account Fee $15 per quarter
Excess Transaction Fee $3 Excess Transaction Fee charged for each withdrawal transaction in excess of 4 per statement cycle
HOW INTEREST IS EARNED ON YOUR ACCOUNT
The daily balance method is used to calculate interest on your account. This method applies a daily periodic rate to the daily Collected Balance in the account each day. Interest on deposits begins to accrue no later than the business day on which we receive credit for the deposit. Accrued interest is credited to the balance in the account on the first business day of the following statement cycle. Accrued interest that is credited to the balance in the account begins to earn interest no later than the next business day and compounds with each statement cycle. Statement cycles are generally quarterly, unless otherwise disclosed. If you close your account or convert your account to a non-interest bearing account before accrued interest, if any, is credited, you will not receive the accrued interest. A taxpayer identification number will be required to earn interest on these accounts.
Collected Balance is your account balance minus any funds you have deposited that have not been collected from the financial institution on which the deposited funds are drawn.
1-800-COMPASS or visit
www.bbvacompass.com
BBVA COMPASS CLEARCHOICE SAVINGS RATE
Annual Percentage Yield 0.05%
Interest Rate 0.050%
TRANSACTION LIMITS FOR SAVINGS AND MONEY MARKET ACCOUNTS
Federal law governs withdrawal transactions from this account. And if transactions exceed limits, the account could be reclassified as non-interest bearing. Federal law limits transfers to another deposit account with BBVA Compass or to a third party to a total of 6 per month. These transfers include: preauthorized agreement, telephone request, check, check card, draft including Online Banking transfers and sweep transfers. There is no withdrawal limit from this account when made in person at a BBVA Compass banking office or at an ATM. Inter-Account Transfers are considered withdrawal transactions subject to these federal transaction limitations. Withdrawal transactions subject to Excess Transaction Fees described above and in your account disclosure.
ATM FEES
Fee to Use BBVA Compass ATMs $0 for using BBVA Compass ATM to complete any transaction.
BBVA Compass Fee to Use Another Bank's ATMs
$2 per transaction† † ATM and/or service fees charged by other banks and ATM owners still apply
International Service Fee (ATM) 1% of transaction amount
International Service Fee (non-ATM) 3% of transaction amount
International Transactions are those transactions using your ATM or Check Card made outside of the United States, even those in US dollars. A full description of the currency conversion process is contained in your ATM/Check Card Agreement.
OVERDRAFT / INSUFFICIENT FUNDS FEES
Insufficient Funds Charge (NSF) - Paid Item
$38 per item
Insufficient Funds Charge (NSF) -Returned Item
$38 per item
The NSF charges described above are applied for processing items presented for payment against insufficient funds (NSF) with a maximum of six (6) charges per day. These charges are imposed on items created by check, in-person withdrawal, ATM withdrawal, Check Card transaction, or other electronic means.
Inter-Account Transfer Fee $12 per day in which there is a transfer. Transfers funds from customer designated account to cover potential overdrafts in checking account.
STOP PAYMENT FEES
Stop Payment Request (Branch/Phone) $32 per request
Stop Payment Request (Online Banking)(checks only)
$25 per request
DEPOSIT FEES
Deposit Item Returned $6 per item
Deposit Item Returned (Foreign) $25 per item
Deposit Item Re-run $7 per item
CHECK CARD FEES
Personalized Check Card Fee $10 per card
Replacement Card Fee $5 ($10 for personalized Check Card)
OTHER STATEMENT FEES
Online Statement No additional charge (Online Banking is Required)
Statement Upgrade Fee (Image Statement Fee)
$5 per statement cycle
Special Statement $5 per statement cycle
A special statement may include, but not be exclusive to the following: daily statements, duplicate statements, hold statements and statement printouts.
WIRE TRANSFER FEES (ALL FEES ARE PER TRANSFER)
Domestic:
- Incoming (Customer) $15
- Outgoing (Customer) $16
- Outgoing Repetitive (Customer) $14 - Outgoing (Non-Customer) $40 Confirmation: - Fax/Email $19 - Mail/Phone $21 International: - Incoming (Customer) $15 - Outgoing (Customer) $45 Confirmation: - Fax/Email $3 - Mail/Phone $5 MISCELLANEOUS FEES
Cash Handling Fees:
- Rolled Coin $0.10 per roll
- Strapped Currency $0.20 per strap
- Bank Bags (Zipper) $5 per bag
- Bank Bags (Locked) $20 per bag
Check Charges:
- Temporary Checks $1 each
- Personal Checks Personalized check order charges, including tax and shipping and handling, are debited from your account when your order is placed. Check order charges vary.
Collection Items (all fees are per item):
- Incoming $20
- Outgoing $20
- Bond Coupon $5
- International $20 plus costs
Deposit Fees:
- Deposit Correction Fee $2.50 per item
- Deposits to Closed Accounts $25.00 per deposit
Legal Fees:
- Garnishments, Levies, Court Orders $150 plus attorney fees
Reconcilement/Research Fees:
- Reconcile Statement $25 per hour
- Research $25 per hour
- Copy of Fax $3 per page
TELEPHONE BANKING FEES
Staff-Assisted Call (over 5/month) $1 per call over 5 in a month
Telephone Transfer Fee $3 per transfer
ONLINE AND MOBILE BANKING FEES
Online Banking No additional charge
Online and Mobile Bill Pay No additional charge
Mobile Banking No additional charge
Message and data rates may apply - check with your wireless provider.
Applicable Fees and Service Charges
Your account will be subject to the terms and conditions, including all fees and
service charges, applicable to BBVA Compass accounts in the state where we
maintain your account. For purposes of this disclosure, your account will be
deemed to be maintained in the state where you opened your account. Your
account is considered to have been opened: if you opened your account by mail,
at the location where the mail was received by us; or if you opened your account
electronically (including by telephone) and your address is in a state where we
have branch offices, in the state of your address at the time you opened your
account; or if otherwise, in Alabama.
For additional terms governing your account, please consult the Consumer
Deposit Account Agreement.
NOTE: The above noted fees and service charges are not set bank–wide. These
prices are driven by the competition in your local market.
AS REQUIRED BY FEDERAL LAW, BBVA COMPASS RESERVES THE RIGHT TO
REQUIRE AT LEAST SEVEN (7) DAYS NOTICE PRIOR TO WITHDRAWAL OR
TRANSFER OF FUNDS FROM THIS ACCOUNT.
BBVA Compass is a trade name of Compass Bank, a member of the BBVA Group. Compass Bank, Member FDIC.
