NOW ACCOUNT

FEE SCHEDULE

Regular Now

• $7.00 monthly service fee when the balance falls below $500.00 any time during the statement period, or $5.00 monthly service fee when the balance falls between $500.00 and $1,000.00 during the statement period.
• No monthly service fee when the balance is $1,000.00 or higher during the entire statement period.

Non-Profit Organization Now

•  No monthly service fee, regardless of minimum balance during the statement period.

Senior Citizens Now

•  No monthly service fee, regardless of minimum balance, for customers who have notified us that they are over 50 years of age.

Minimum Balance Requirement

•  You must deposit $50.00 to open this account.
• Accounts must have a minimum balance of $1,500.00 to earn interest.  If at any time during the statement period your balance falls below $1,500.00, interest is forfeited for that day. 
• Fee's could reduce earnings.

Rate Information

•  If your ending daily balance is more than $1,500.00 and less than $2,500.00 the interest rate paid on the entire balance in your account will be .096% with an annual percentage yield of .10%.
• If your ending daily balance is 2,500.00 or more, the interest rate paid on the entire balance in your account will be .146% with an annual percentage yield of 0.15%.
• The interest rate and annual percentage yield are subject to change at any time at the bank's discretion.
• The interest rate and annual percentage yield are accurate as of the last business date.

Balance Computation Method

•  The daily balance method is used to determine if interest is paid on your account. This method uses the balance in your account at the end of each day during the statement period.
• The daily balance method is used to determine the interest rate paid and to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
• The daily balance method is used to determine the applicability of a monthly fee on your account.  This method uses the balance in the account each day to determine if a fee should be assessed. 

Compounding and Crediting

•  Interest will be compounded and credited to your account on the monthly statement date of your account.
•  If the account is closed before interest is credited, you will not receive the accrued interest.

Accrual of Interest

•  Interest begins to accrue on the day funds are deposited to the account.

Overdraft Protection 

• If checking account becomes overdrawn, you may arrange for an automatic sweep of funds from your savings account, other checking, or NOW account.  Written customer authorization is required for this service.  The fee for this service will be charged to the recipient account.

Shelby County Bank ATM & Debit Cards   

• No charge for debit purchases. 
• ATM use at any Shelby County Bank Machine, no charge.  
• If you use an ATM that is not operated by Shelby County Bank, you may be charged a transaction fee of $2.00 by Shelby County Bank.  The first 5 transactions per month will be waived.  The operator of the machine and / or an automated transfer network may charge an additional fee.
• Fees may be charged on rejected transactions at a non-proprietary machine.
• ATM Card Users:  If funds are available, you may access $200.00 per card per day at an ATM.Visa
• Debit Card Users:  If funds are available, you may access $1,000.00 per card per day at an ATM.  You may also make purchases of up to $300.00 per card per day.