Savings Account Required Clause Samples
The "Savings Account Required" clause mandates that a party must open and maintain a savings account as a condition of the agreement. Typically, this requirement applies to situations where funds need to be deposited, held, or managed separately, such as for security deposits, escrow arrangements, or automatic payments. By specifying the need for a dedicated savings account, the clause ensures that funds are properly segregated and managed, reducing the risk of misuse and providing clarity for both parties regarding the handling of money under the agreement.
Savings Account Required. All applicants and co-applicants on a credit card account must have an open savings account that carries a share par balance. You must continue to be a member of the Credit Union and comply with the basic account requirements to maintain eligibility for this Account. You may close your Account at any time by notifying us in writing and returning all Cards cut in half.
Savings Account Required. The Business Entity must have an open savings account with a $5.00 minimum balance. If the Business Entity does not have a savings account at the time of application, one will be opened at the time of credit card ap- plication approval. If your balance is less than $5.00, your Card may be charged with a purchase transaction to bring your balance to the minimum.
Savings Account Required. All Purdue Federal Account owners must have an open savings account with a $5.00 minimum balance. If you do not have a savings account, one will be opened for you at the time of your credit card application approval. If your balance is less than $5.00, your Card may be charged with a purchase transaction to bring your balance to the minimum.
Savings Account Required. If you fail to maintain a UCCU savings account with a minimum deposit balance, we may charge your credit card to bring your savings balance to the minimum and you shall pay interest on the amount charged.