Common use of Accrual of Interest on Deposits Clause in Contracts

Accrual of Interest on Deposits. Interest begins to accrue on a deposit on the business day it is received. If the deposit is received no later than the applicable cutoff time specified for the type of deposit in the "Cutoff Times" section above, we will consider that to be the day of your deposit. If the deposit is received after the specified cutoff time or on a day that is not a business day, we generally will consider the deposit received on the next business day. If you request a withdrawal or transfer from your account, the funds will be debited when we process the withdrawal or transfer and interest will not accrue or be credited to your account for that processing day on the amount of the requested withdrawal or transfer, regardless of the actual date of the transfer. See "Cutoff Times" for more information on the processing times for transfer requests.

Accrual of Interest on Deposits. Interest begins to accrue on a deposit on the business day Business Day it is received. If the deposit is received no later than the applicable cutoff time Cut-Off Time specified for the type of deposit in the "Cutoff “Cut-Off Times" ” section aboveof the Deposit Account Agreement, we will consider that to be the day of your deposit. If the deposit is received after the specified cutoff time Cut-Off Time or on a day that is not a business dayBusiness Day, we generally will consider the deposit received on the next business dayBusiness Day. If you request a withdrawal or transfer from your accountAccount, the funds will be debited when we process the withdrawal or transfer and interest will not accrue or be credited to your account Account for that processing day on the amount of the requested withdrawal or transfer, regardless of the actual date of the transfer. See "Cutoff Times" for more information However, in the circumstance where we receive and credit your deposit on the processing times for transfer requests.a non-Business Day, interest will begin accruing on that day. Balance Information‌