Deposit Plus definition
Examples of Deposit Plus in a sentence
Thereafter, except with regard to 18- month Fixed Rate Deposit Plus Accounts (see below), you may make no additional deposits to this Account prior to the maturity of the certificate.
With regard to 18-month Fixed Rate Deposit Plus Accounts, you may make additional deposits, but any additional deposits must be made by electronic funds transfer or automatic payroll deduction.
In addition, under the Direct Deposit Plus Account the following additional features may be available to you: (i) for qualifying direct deposits in the Account, those funds may be available to you up to two days earlier than your normal pay date (see section above entitled “Early ACH Deposits” for more details), (ii) purchase cushion, and (iii) if you opt-in, overdraft protection.
Your Account will remain a Direct Deposit Plus Account with a qualifying deposit of $500.00 or more every 35 days.
DEPOSITS: The minimum balance required to open and maintain this Account is $500.00 ($250.00 for 18-month Fixed Rate Deposit Plus Accounts).
TRANSACTION LIMITATIONS: Except with regard to 18-month Fixed Rate Deposit Plus Accounts, after the Account is opened, you may not make deposits into the Account until the maturity date stated on the certificate.
If a Share DEPOSITS: With regard to 18-month Fixed Rate Deposit Plus Accounts, you may make additional deposits during the term of the Account without effect on the date of maturity of the Account.
After activation of overdraft protection, you must continue to receive at least one (1) recurring direct deposit transaction in the amount of $200 or more every 35 days if you have the Employee Account or $500 or more every 35 days if you have the Direct Deposit Plus Account or the Employee Plus Account.
Depending upon which type of Account we approve you for, your Account will be one of the following types of Accounts: (i) Non-Direct Deposit Account, (ii) Direct Deposit Plus Account, (iii) Employee Account, and (iv) Employee Plus Account.
If you have a Direct Deposit Plus Account, Employee Account, or Employee Plus Account, the overdraft fee applies to each transaction that results in a negative Balance of more than $15.00.