Win/Win Checking, offered exclusively by Legacy Bank, is a revolutionary checking account in which customers "win" in several ways.
*Only one account per account owner may be opened and maintained without a regular direct deposit to the account.
All Win/Win Checking® accounts receive a monthly statement electronically. A monthly e-mail notification will be sent to the e-mail address provided by the customer. Statements will be available online through the customer’s eBanking account. The customer has the responsibility to inform us of changes in their e-mail address.
INTEREST CALCULATION AND CREDITING
Annual Percentage Yields (APY) and corresponding interest rates quoted here are accurate as of July 1, 2013. If the account requirements noted below are met, an APY of 2.00% with a corresponding interest rate of 1.98% will be paid on balances from $0-$25,000. The portion of balances from $25,000.01-$50,000 will earn an APY of 1.00% with a corresponding interest rate of .995%. The portion of the balance above $50,000 will earn an APY and interest rate of 0.03%. For example, the effective APY on $75,000 would be 1.01%. The interest rate and APY on this account may change at any time at the bank’s discretion. Interest is calculated using the daily balance method which applies a daily periodic rate to the principal in the account each day. Interest begins to accrue on the collected balance which includes funds for which we have received credit - no later than the business day we receive credit for the deposit of your non-cash items (i.e. checks). Interest is paid, compounded, and credited monthly. If you choose to close your account, any interest accrued but not yet paid is forfeited.
REQUIREMENTS TO EARN STATED APY
In order to earn the maximum APY for balances in this account, the following requirements must be met. (1) A minimum of 12 Legacy Bank VISA® Check Card transactions must be recorded for the statement period for POS (point-of-sale) transactions for the purchase of goods or services. Each of the minimum required 12 transactions must be received and posted during the statement period regardless of when the actual purchase took place; ATM transactions are considered separate from POS transactions. (2) A valid e-mail address must be provided in order to receive monthly statements electronically. (3) Customer must sign up for eBanking within 30 days of opening the account. If the account requirements are not met, an APY of .03% will be paid on the entire account balance.
REQUIREMENTS TO RECEIVE ATM FEE REIMBURSEMENT
Non-Legacy ATM fees will be reimbursed up to $3 per transaction, and the Legacy ATM surcharges will be refunded, provided that the withdrawal is a minimum of $100 and the requirement of 12 POS transactions for the statement period has been met. On withdrawals of an amount less than $100, no fee or surcharge will be reimbursed.
MINIMUM BALANCE INFORMATION
This account requires a $100 minimum opening balance. There is no minimum balance to earn interest. Current customers may switch from their current account to this account without regard to the minimum balance requirement.
FEES AND CHARGES
For current rates, Annual Percentage Yields, and other account information, call 1-800-687- 9688 or check rates at www.legacybank.com/rates. No maintenance fee will be charged on this account. See “Personal Account Service Charge Schedule” for a complete listing.