Deposit Management Program Fees Sample Clauses

Deposit Management Program Fees. Other fees may be paid to us or our affiliates by third parties for assistance in performing certain transactions with respect to our Deposit Management Program (“Program”). Program fees are associated with cash management activities, such as account maintenance, depository bank selection, transaction processing, sub- accounting, record keeping, and any other services performed for the Program. Program fees for bank accounts maintained by the Custodian for all HSAs shall be deducted solely from interest earned on uninvested Program cash prior to the crediting of such interest to the individual custodial account. For these services, the Custodian charges each bank account in the Program, a monthly fee at an annualized rate of up to 4.00% on the average assets maintained in the bank accounts, payable solely from interest earned on uninvested cash from the Program. The Program fees will be charged regardless of which bank accounts are being used by your HSA. The Custodian has no obligation to ensure that all such bank account pay the same rate of interest; however, the Custodian has the right, but not an obligation, to reduce (rebate) a portion of this fee to your HSA as to the balances in a specific bank’s bank account. The Program fee for administering the bank accounts can change from time to time without notice, but cannot exceed the annualized rate of 4.00% without 30 days prior notice to you and in accordance with Section 20.4 hereof. The Program fee is deducted directly from any interest paid on each bank account in the Program, and the net amount is paid to your HSA monthly.