Common use of Aspiration Save Interest Rate Disclosure Clause in Contracts

Aspiration Save Interest Rate Disclosure. As part of our Account, you may be eligible for a savings account (“Save Account”). Save Accountholders will earn 0.25% Annual Percentage Yield (“APY”) on balances in their Save Account. Customers not subscribed to Aspiration Plus (see below) will receive 0.00% APY on their Save Account balances. To earn 1.00% APY (3.00% APY if customer is enrolled in Aspiration Plus) interest on Aspiration Save Account balances up to and including $10,000.00 in any calendar month, customers must have settled debit card transactions of at least $500.00 or more, monthly, for that month with their Aspiration Debit Card. Debit card transactions for money transfer vendors (for example, but not limited to, CashApp, Venmo, Facebook Pay) do not qualify towards the $500.00 spend requirement. Balances over $10,000.00 will earn 0.00% APY (0.25% APY if the customer is enrolled in Aspiration Plus). If the requirements are not met each month, the APY will be 0.00% APY (0.25% APY if the customer is enrolled in Aspiration Plus) on a Save Account regardless of balance. Aspiration Plus requires a subscription fee that is billed monthly or annually at the option of the customer and can be canceled at any time. The Save Rate is a variable interest rate, which means that the interest rate and the APY are subject to change after the Aspiration Save Account is opened. The interest rate is set at the discretion of Aspiration and is paid to customers by the program banks that participate with Aspiration. Interest is calculated daily and is paid to a customer's Save Account on or after the first day of the next calendar month. Interest will be prorated from the date that the conditions above are met. If you close your account before interest is credited, no interest will be paid into your account.

Appears in 4 contracts

Samples: Account Agreement, Deposit Account Agreement, Customer Account Agreement

AutoNDA by SimpleDocs

Aspiration Save Interest Rate Disclosure. As part of our Account, you may be eligible for a savings account (“Save Account”). Save Accountholders will earn 0.25% Annual Percentage Yield (“APY”) on balances in their Save Account. Customers not subscribed to Aspiration Plus (see below) will receive 0.00% APY on their Save Account balances. To earn 1.00% APY (3.00% APY if customer is enrolled in Aspiration Plus) interest on Aspiration Save Account balances up to and including $10,000.00 in any calendar month, customers must have settled debit card transactions of at least $500.00 or more, monthly, for that month with their Aspiration Debit Card. Debit card transactions for money transfer vendors (for example, but not limited to, CashApp, Venmo, Facebook Pay) do not qualify towards the $500.00 spend requirement. Balances over $10,000.00 will earn 0.00% APY (0.25% APY if the customer is enrolled in Aspiration Plus). If the requirements are not met each month, the APY will be 0.00% APY (0.25% APY if the customer is enrolled in Aspiration Plus) on a Save Account regardless of balance. Aspiration Plus requires a subscription fee that is billed monthly or annually at the option of the customer and can be canceled at any time. The Save Rate is a variable interest rate, which means that the interest rate and the APY are subject to change after the Aspiration Save Account is opened. The interest rate is set at the discretion of Aspiration and is paid to customers by the program banks that participate with Aspiration. Interest is calculated daily and is paid to a customer's Save Account on or after the first day of the next calendar month. Interest will be prorated from the date that the conditions above are met. If you close your account before interest is credited, no interest will be paid into your account.

Appears in 1 contract

Samples: Deposit Account Agreement

AutoNDA by SimpleDocs

Aspiration Save Interest Rate Disclosure. As part of our Account, you may be eligible for a savings account (“Save Account”). Save Accountholders will earn 0.25% Annual Percentage Yield (“APY”) on balances in their Save Account. Customers not subscribed to Aspiration Plus (see below) will receive 0.00% APY on their Save Account balances. To earn 1.00% APY (3.00% APY if customer is enrolled in Aspiration Plus) interest on Aspiration Save Account balances up to and including $10,000.00 in any calendar month, customers must have settled debit card transactions of at least $500.00 or more, monthly, for that month with their Aspiration Debit Card. Debit card transactions for money transfer vendors (for example, but not limited to, CashApp, Venmo, Facebook Pay) do not qualify towards the $500.00 spend requirement. Balances over $10,000.00 will earn 0.00% APY (0.25% APY if the customer is enrolled in Aspiration Plus). If the requirements are not met each month, the APY will be 0.00% APY (0.25% APY if the customer is enrolled in Aspiration Plus) on a Save Account regardless of balance. Aspiration Plus requires a subscription fee that is billed monthly or annually at the option of the customer and can be canceled at any time. The Save Rate is a variable interest rate, which means that the interest rate and the APY are subject to change after the Aspiration Save Account is opened. The interest rate is set at the discretion of Aspiration and is paid to customers by the program banks that participate with Aspiration. Interest is calculated daily and is paid to a customer's Save Account on or after the first day of the next calendar month. Interest will be prorated from the date that the conditions above are met. If you close your account before interest is credited, no interest will be paid into your account.

Appears in 1 contract

Samples: Deposit Account Agreement

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!