Interest Bearing Checking and Savings Accounts Sample Clauses

Interest Bearing Checking and Savings Accounts. Interest on checking accounts shall be 0.30% on all balances for the first year of this contract. Subsequent years will be at market rate, currently 0.20% with an increased floor of 0.20% for the life of the contract. Such rate shall be calculated at the end of each month and credited to the County’s accounts.
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Interest Bearing Checking and Savings Accounts. At our discretion, we may change the interest rate on your interest-bearing checking or savings Account (set forth in your Account’s Disclosures, Terms and Conditions (XXXX Disclosures)) at any time without notice. You agree that we may require at least thirty (30) days’ advance written notice of your intention to withdraw or transfer funds from an interest- bearing checking or savings Account. This advance notice period also applies to checks drawn against an interest- bearing checking Account. Interest Withholding We may be required under applicable law to, and if required we will, withhold a portion of the interest we credit to your Account (if the Account is interest bearing) and pay the amounts withheld to the U. S. Internal Revenue Service and/or the Puerto Rico Department of Treasury. You can even arrange for regular loan payments to be withdrawn automatically from your Account. Certificates of Deposit The Bank offers a variety of Certificates of Deposit with different terms. Minimum amount requirements may apply to purchase a Certificate of Deposit. Age Based Accounts
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Interest Bearing Checking and Savings Accounts. Interest on (1) checking accounts shall be paid on average collected balances in excess of average collected balances required to pay service charges and (2) money market accounts shall be paid on average collected balances each month at a rate equal to the 91 Day US Treasury Xxxx less 20 basis points, or the bank will utilize a floor of .0% if the calculated rate is below the floor. Such rate shall be calculated at the end of each month and credited to the City’s accounts.
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Interest Bearing Checking and Savings Accounts. At our discretion, we may change the interest rate on your interest bearing checking or savings Account (set forth in your Account’s XXXX Disclosures) at any time without notice. You agree that we may require at least thirty (30) days’ advance written notice of your intention to withdraw or transfer funds from an interest bearing checking or savings Account. This advance notice period also applies to checks drawn against an interest bearing checking Account.
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Related to Interest Bearing Checking and Savings Accounts

  • Checking Accounts The Credit Union may refuse any check or other item drawn against your account or used to withdraw funds from your account if it is not on a form approved by us. We also reserve the right to refuse any check or other item drawn against your account or used to withdraw funds from your account if made in a manner not specifically authorized for your account, if made more frequently or in a greater number than specifically permitted for your account, or if made in an amount less than the minimum withdrawal or transfer specifically permitted for your account. If we accept a check or other item not on a form approved by us, you will be responsible for any loss by us in handling the item. We may pay checks or other items drawn upon your account in any order determined by us, even if paying a particular check or item results in an insufficient balance in your account to pay one or more other items that otherwise could have been paid out of your account. Because of the nature of the Credit Union check program, neither the Credit Union nor any other processing entities shall be responsible for the authenticity of the checks with regard to the signature or alterations; and checks, when presented, shall be paid without verification. We may disregard all information on or any writing or memorandum attached to any check or item except for your signature, the amount and the information that is magnetically encoded. You agree that we do not fail to use ordinary care because our procedures do not provide for sight examination. You will notify us immediately if you learn or have reason to know that any of your checks have been lost or stolen. If you are negligent in safeguarding your checks or if there is a processing problem due to your use of a check printer we do not approve, we will not have any liability or responsibility for any losses you incur as a result if we act in good faith pursuant to standard commercial practices.

  • Interest Bearing Account If the Province provides Funds before the Recipient’s immediate need for the Funds, the Recipient will place the Funds in an interest bearing account in the name of the Recipient at a Canadian financial institution.

  • Certain Savings Accounts 1. An account established and maintained in the Slovak Republic that satisfies any of the following:

  • PJM E-Accounts Buyer and Seller shall work with PJM to establish any PJM E-Accounts necessary for Seller to provide Full Requirements Service. In a timely manner, Xxxxx shall establish PJM E-Account contract(s) for the entire duration of the Transaction(s) and Seller shall confirm the PJM E-Account contract(s) for the entire duration of the Transaction(s).

  • Multiple Accounts 3.2.1 Calculations, reporting and administration may be performed by us separately for each of your Accounts, so that (without limitation):

  • Disclosure Statement for Xxxxxxxxx Education Savings Accounts 1. Who is Eligible for a Xxxxxxxxx Education Savings Account? Anyone may contribute to a Xxxxxxxxx Education Savings Account regardless of his or her relationship to the beneficiary. The beneficiary of a Xxxxxxxxx Education Savings Account

  • Separate Accounts The trustee shall maintain within the trust fund a separate account for each Agricultural Contractor that signs the trust agreement to hold deposits made pursuant to this article.

  • User Accounts End User shall ensure that only Authorized Users can access the Services. User accounts may not be shared among individuals or used to provide access to the Services to individuals who are not the individual associated with the corresponding user account.

  • Settlement Account 4.1 The Scheduling Coordinator shall maintain at all times an account with a bank capable of Fed-Wire transfer to which credits or debits shall be made in accordance with the billing and Settlement provisions of Section 11 of the CAISO Tariff. Such account shall be the account as notified by the Scheduling Coordinator to the CAISO from time to time by giving at least 20 days written notice before the new account becomes operational, together with all information necessary for the CAISO's processing of a change in that account.

  • How Are Distributions from a Xxxxxxxxx Education Savings Account Taxed For Federal Income Tax Purposes? Amounts distributed are generally excludable from gross income if they do not exceed the beneficiary’s “qualified higher education expenses” for the year or are rolled over to another Xxxxxxxxx Education Savings Account according to the requirements of Section (4). “Qualified higher education expenses” generally include the cost of tuition, fees, books, supplies, and equipment for enrollment at (i) accredited post-secondary educational institutions offering credit toward a bachelor’s degree, an associate’s degree, a graduate-level or professional degree or another recognized post-secondary credential and (ii) certain vocational schools. In addition, room and board may be covered if the beneficiary is at least a “half-time” student. This amount may be reduced or eliminated by certain scholarships, qualified state tuition programs, HOPE, Lifetime Learning tax credits, proceeds of certain savings bonds, and other amounts paid on the beneficiary’s behalf as well as by any other deductions or credits taken for the same expenses. The definition of “qualified education expenses” includes expenses more frequently and directly related to elementary and secondary school education, including the purchase of computer technology or equipment or Internet access and related services. To the extent payments during the year exceed such amounts, they are partially taxable and partially non-taxable similar to payments received from an annuity. Any taxable portion of a distribution is generally subject to a 10% penalty tax in addition to income tax unless the distribution is (i) due to the death or disability of the beneficiary, (ii) made on account of a scholarship received by the beneficiary, or (iii) is made in a year in which the beneficiary elects the HOPE or Lifetime Learning credit and waives the exclusion from income of the Xxxxxxxxx Education Savings Account distribution. You may be allowed to take both the HOPE or Lifetime Learning credits while simultaneously taking distributions from Xxxxxxxxx Education Savings Accounts. However, you cannot claim a credit for the same educational expenses paid for through Xxxxxxxxx Education Savings Account distributions. To the extent a distribution is taxable, capital gains treatment does not apply to amounts distributed from the account. Similarly, the special five- and ten-year averaging rules for lump-sum distributions do not apply to distributions from a Xxxxxxxxx Education Savings Account. The taxable portion of any distribution is taxed as ordinary income. The IRS does not require withholding on distributions from Xxxxxxxxx Education Savings Accounts.

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