TERMS, CONDITIONS, AGREEMENTS, AND DISCLOSURES FOR ELECTRONIC FUNDS TRANSFER SERVICES

As a customer of The Palmetto Bank, several services are available to you that allow you or some other person authorized by you to electronically transfer money to or from your accounts.  Here are some important things you should know about Electronic Funds Transfers (Electronic Services).

TYPES OF ELECTRONIC FUNDS TRANSFERS YOU MAY MAKE

The Palmetto Bank 24 Hour Teller Card. If you have the Palmetto Bank 24-Hour Teller Card your accounts may be coded to allow you to use your card any time of day at The Palmetto Bank 24 Hour Teller Machines to

• Withdraw Cash
• Transfer funds between your accounts
• Make consumer loan payments
• Obtain account balance information

You may also use your card to withdraw cash from your primary checking and primary savings accounts at certain banks’ automatic teller machines (ATM) which are participants in the STAR™ point-of-sale system.  Total withdrawals are limited to $500.00 per day.

The Palmetto Bank 24 Hour Account Information Line.  As a banking convenience, your accounts may be coded to allow you to access account information, transfer funds between accounts, and make payments to installment loan accounts from other accounts utilizing a touch-tone telephone.

The Palmetto Bank Check Card. If you have The Palmetto Bank Check Card, you may use it to obtain goods and services from businesses displaying the MasterCard sign, and obtain cash from any automated teller machine displaying the MasterCard sign.  The Palmetto Bank Check Card also allows access to all the services listed above for The Palmetto Bank 24-Hour Teller Card. Total withdrawals are limited to $500.00 per day at automated teller machines (ATM).  Point of Sale (POS) Signature based transactions are limited to $1,000.00 per day.  Point of Sale (POS) PIN based transactions are limited to $1,500.00 per day.

Internet Banking.  As a banking convenience, your accounts may be coded to allow you to access account balances and histories, transfer funds, view statements, download account information, and pay bills over the internet.

Direct Deposits and Withdrawals. You may authorize certain third parties to electronically transfer money to and from your account on a periodic basis.

Electronic Check Conversion. You may authorize a merchant or other payee to make a one-time electronic payment from your checking account using information from your check to:

• Pay for purchases
• Pay bills

CHARGES FOR ELECTRONIC TRANSFERS

Fees are disclosed in The Palmetto Bank Schedule of Fees Brochure delivered to you as a supplement to this disclosure.  The fees are subject to change at the option of The Palmetto Bank.  You will be notified of changes through delivery of a mailing of the schedule of fees, which will set forth the current fees being changed.  When you use an ATM not owned by us, you may be charged a fee by the ATM operator [or any network used] (and you may be charged a fee for a balance inquiry even if you do not complete a funds transfer).

DOCUMENTATION OF YOUR ELECTRONIC TRANSFERS

Periodic Account Statements. Your electronic transfers will be described on the account statements you receive monthly.

Automated Teller Machine Terminal Receipts. You will get a receipt at the time you make any electronic transfer to or a withdrawal from an account at an automated teller machine.

Purchases made with The Palmetto Bank Check Card or 24-Hour Teller Card at participating merchants.  You will receive a sales receipt at the time of purchase or a credit voucher to represent a refund when you have a point-of sale transaction with a merchant participating in the MasterCard or STAR™ system.

Confirmation of Direct Deposit.  If you have arranged to have direct deposits made to your account at least once every 60 days by the same person or company, you can call The Palmetto Bank 24 Hour Account Information Line (800-955-8393) or The Telephone Banking Center (800-725-2265) to find out whether any such deposits have been made.  Please remember that the Palmetto Bank can not credit your account until we have received funds from the person, government agency, or company making the deposit.

We may accept on your behalf payments to your account which have been transmitted through one or more Automated Clearing House (ACH) and which are not subject to the Electronic Funds Transfer Act and your rights and obligations with respect to such payments shall be construed in acceptance  with and governed by the laws of the state of New York as provided by the operating rules of the National Automated Clearing House Association.

LIABILITY FOR UNAUTHORIZED USE ON MASTERCARD CHECK CARD TRANSACTIONS*

Your liability for unauthorized use of your Palmetto Bank Check Card will be $0 for any MasterCard debit card transaction (that is ones for which you sign or do not otherwise provide a PIN) or any PIN transaction processed by MasterCard (Maestro and Cirrus transactions) provided:

• You have reported the unauthorized use.
• You have exercised reasonable care in safeguarding your card from risk of loss or theft,
• You have not reported two(2) or more incidents of unauthorized use to us in the immediately preceding twelve (12) month period, and,
• Your account is in good standing.

If you do not meet these conditions and you report the unauthorized use, your liability for the unauthorized transaction will be no more than $50.

YOUR LIABILITY FOR UNAUTHORIZED ELECTRONIC FUNDS TRANSFERS*

Tell us AT ONCE if you believe your 24-Hour Teller Card or check Card has been lost of stolen, or if you believe that an electronic funds transfer has been made without your permission using information from your check.  If an unauthorized person who knows your personal identification code has your card; you could lose all the money in your accounts (plus the maximum amount of your Credit Line Account).  An IMMEDIATE telephone call is the best way of keeping your possible losses down.  If you tell us within two (2) business days, you can lose no more than $50.00 if someone used your card without your permission.  If you do not tell us within two (2) business days after you learn of the loss or theft of your card, and we can prove we could have stopped someone from using your card without your permission if you would have told us, you could lose as much as $500.00.

Also, tell us AT ONCE if your periodic statements show transfers or withdrawals that you did not make,  including those made by card, code or other means.  If we do not hear from you within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time.  If a good reason keeps you from telling us, we may extend these time limits.

HOW TO GET IN TOUCH WITH US

If you believe that your 24-Hour Teller Card or Check Card has been lost or stolen, call us at 1-800-725-2265.

If you believe that someone has transferred or may transfer money from your account without your permission or a transfer has been made using the information from your check without your permission, call us during regular business hours at 1-800-725-2265,  or write to us at The Palmetto Bank, EFT Coordinator, P.O. Box 49, Laurens, SC  29360.

OUR BUSINESS DAYS

Our business days are Monday through Friday (not including bank holidays).

YOUR RIGHT TO STOP PAYMENT OF PREAUTHORIZED PAYMENTS*

If you have authorized us in advance to make regular payments out of your account, you can stop any of these payments.  Call during business hours or write to us in time for us to receive your request three days or more before the payment is scheduled to be made.  If you call, we will require that you put your request in writing and get it to us within 14 days after you call.

You must tell us the exact amount of the payment you want stopped and any other information we might request in order to identify that payment.  Our normal stop payment charge will apply to each stop payment order you give.

If you order us to stop one of these payments and have given us all the information we have requested three days or more before the payment is scheduled and we do not do so, we may be liable for your losses or damages.

If these regular payments may vary in amount, the person you are going to pay will tell you ten (10) days before each payment when it will be made and how much it will be (unless you choose to get the notice only when the payment would differ by more than a certain amount from the previous amount, or when the amount would fall outside certain limits that you set).

OUR LIABILITY FOR FAILURE TO MAKE TRANSFERS

If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we may be liable for your losses or damages.  However, there will be some exceptions.  We will not be liable for instance:

• If through no fault of ours you do not have enough available money in your account to make the transfer;
• If the transfer would go over the credit line limit on your Credit Line Account;
• If the terminal was not working properly and you knew about the breakdown when you started the transfer;
• If the circumstances beyond our control prevent the transfer despite reasonable precautions that we have taken.

There may be other exceptions stated in our agreements with you.

DISCLOSURE OF INFORMATION ABOUT YOUR ACCOUNT TO OTHER PARTIES

We may disclose information to third parties about your accounts or the transfer you make only:

• When it is necessary for completing transfers
• To comply with government agencies or court orders
• If you give us written permission

IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR ELECTRONIC TRANSFERS*

If you think your periodic account statement, automated teller machine receipt, or merchant sales receipt is wrong, or if you need more information about a transfer listed on your statement or receipt, telephone us at 1-800-725-2265 during regular business hours, or write to us at The Palmetto Bank, EFT Coordinator, P.O. Box 49 Laurens, SC  29360.

We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.  When you call or write us:

• Tell us your name and account number,
• Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information.
• Tell us the dollar amount of the suspected error.

If you tell us orally, we may require that you send us your complaint or question in writing within ten (10) days.

We will tell you the result of our investigation within ten (10) business days (twenty (20) days if within 30 days after the first deposit to the account was made) after we hear from you and will correct any error promptly.  If we need more time, however, we may take up to 45 days (90 days (1) if not in South Carolina, (2) resulted from a point-of-sale debit card transaction, (3) within 30 days after the first deposit to the account was made) to investigate your complaint or question. If we decide to do this, we will provisionally recredit your account within ten (10) business days twenty (20) days if within 30 days after the first deposit to the account was made for the amount you think is in error so that you will have the use of the money during the time it takes us to complete the investigation.  If we ask you to put your complaint or question in writing and we do not receive it within ten (10) business days we may not provisionally recredit your account.

If we decide that there was no error, we will send you a written explanation within three (3) business days after we finish our investigation.

OTHER TERMS, CONDITIONS, AND AGREEMENTS

Any person who requests, signs, uses, authorizes the use of or requests validation of The Palmetto Bank 24 Hour Teller Card (card), The Palmetto Bank Check Card (card), The Palmetto Bank 24 Hour Information Line (information line), or Internet Banking agrees with the following terms, conditions, and agreements.

After you have signed the card, you may use it to conduct banking transactions as described above for each service.  The Bank has no liability or responsibility, if for any reason, the card is not honored at any establishment.

You authorize the bank to debit your account for withdrawals and to debit or credit your account for transfers of funds between accounts. You agree that uses of the electronic services above will constitute a simultaneous withdrawal from and/or demand upon the account or will constitute a credit to the account even though the transaction may not actually post to the account until a later date.  Transactions will be posted with the same legal effects as checks drawn on the account.  At no time should the transaction exceed your available account balance.  When the account has Credit Line overdraft protection, the transaction should not exceed the account balance plus any unused portion of the credit line limit.

Certain uses of the card may be governed by the Truth in Lending Act, The Electronic Funds Transfer Act, or the South Carolina Consumer Protection Code.  Any use of the card may also be governed by the operating regulation/rules issued by Master Card, Inc.  In no event shall any provision in this agreement constitute a waiver of any right conferred or cause of actions created by the Electronic Funds Transfer Act.  If any provision of the agreement shall be prohibited by or invalidated under applicable law, the remaining provisions of this agreement remain valid and in full force and effect.

You will be responsible and legally obligated for all authorized transactions made through the electronic services.  The first time you or someone you authorize uses an electronic service, it means you have accepted this agreement and that you will be responsible for all authorized users of the service.  You authorize the bank to debit or credit your account in the same way other transactions on your account are handled.

Transactions from use of electronic services are subject to all agreements, rules, and regulations, which are now applicable to your accounts, or as may hereafter be adopted or modified.

If using an electronic service overdraws your deposit account, you will be notified and you agree to pay the bank the amount of the overdraft, plus any normal overdraft fees.  If your account is closed leaving outstanding, but unposted, drafts originated by an electronic service, you must upon notice, pay the bank for the amount of the outstanding drafts.  The bank may, at its option, charge the amount of any overdraft against any deposit account, certificate of deposit, or other collateral held by the bank.

Unless the law provides otherwise, you waive and release the bank from all defenses, rights and claims you have or may have against any third party on account of the use of an electronic service.

In consideration for using the card, you waive any rights to payments on a draft or item originated by  use of the card at any STAR™  or MasterCard ATM or business displaying the STAR™  or MasterCard sign.  You also waive any right to receive automatically with your periodic bank account statements a copy or facsimile of any draft or item originated by use of the card.  You have the right to inspect a copy of any draft or item upon your prompt request and compliance with reasonable procedures set by the bank.

As a security measure, the bank will limit the amount that may be withdrawn from your account by the card over certain periods of time.  The bank at its discretion may otherwise limit the use of the card.  The privilege of using the card or electronic services in no way constitutes an absolute right to withdraw all funds from your account through the use of these services.

The bank may refuse to issue a card or may revoke electronic service and information line privileges with or without cause or notice, other than that required by federal or state law.  The card at all times remains the property of the bank and may be repossessed by the bank at any time.  Upon cancellation of cardholder privileges, the card must be surrendered to the bank or its authorized agent upon demand or upon knowledge of cancellation.  You agree not to use or attempt to use an expired, revoked, or otherwise invalid card or electronic service.  If the card or electronic service is used other than as permitted by this agreement, the bank may, at its option and without waiving any rights, recognize the transactions and debit or credit your account accordingly.  The cancellation of card or electronic service privileges, by you or the bank, does not affect other rights and privileges under your account agreement.

Any refund for goods or services purchased with the card may only be made in the form of a credit to your account.  You are not entitled to receive the refund in cash.  All refunds shall be credited to your account, even if the refunded transaction originally required a transfer of funds from a credit account to your checking account through an overdraft line.  Any claim or defense with respect to property or services purchased with your card must be handled by you directly with the merchant or business establishment which accepts your card, and any such claim or defense which you assert will not relieve you of your obligation to pay the total amount of the sales draft plus any appropriate charges we may be authorized to make.  Any refunds to you by a merchant/seller of amounts charged by use of your card must be made on a credit voucher signed by you and/or the merchant and presented by the merchant to the bank.  The amount of the credit will be reflected in your next monthly statement after receipt of a credit voucher from the merchant.

If you have a problem with property or service purchased with a card, and you have tried in good faith to correct the problem with the merchant, you may have the right not to pay the remaining amount due on the property or services.  There are two limitations on this right:

• You must have made the purchase in your home state, or if not within your home state, within 100 miles of your current mailing address; and
• The purchase price must have been more than $50.

However, these limitations do not apply if the merchant is owned and operated by the bank or if the bank mailed you the advertisement for the property or service.

If your card or personal identification code is lost or stolen, you agree to IMMEDIATELY notify the bank.  You also agree to cooperate with the bank in its attempts to recover from unauthorized card users and to assist in their prosecution.

You agree to inspect any periodic statement of your account reflecting transactions originated by the card or information line and notify the bank immediately of any erroneous, improper, or unauthorized entry to the account.

A confidential Personal Identification Code enables you to be identified when using the card or electronic service.  The card, electronic service, and personal identification code are to be used as instructed and you agree not to disclose the personal identification code to anyone other than authorized users of the card or electronic service, not to allow any unauthorized use of the card or electronic service, and further agree not to write the personal identification code on the card or keep the card and personal identification code together.

The bank will assess a monthly service charge for the privilege of having The Palmetto Bank Check Card and 24-Hour Teller Card and may change the amount of the charges from time to time.  The Bank’s failure to assess any charges or to assess charges in any specific amount does not waive its right to increase or decrease the amount of charges later. 

Normal service charges that we impose on all accounts apply to transactions made through the use of electronic services.  Further, if any transaction results in an automatic advance from your Credit Line account, you may incur FINANCE CHARGES as described in your separate agreements with us for those additional services.

The provisions of any agreements between you and the bank for your deposit accounts, credit card account, or credit line account are included here by reference, except where they conflict or are inconsistent with this agreement.  In that case, this agreement governs as far as the use of the card or electronic service is concerned.  The term “draft” used here means the paper document approved by the bank for use when a transaction is originated by the card.  The meaning of the term “check” as used in your account agreements includes “draft” for the purpose of this agreement.

The bank may modify or amend this agreement, in whole or in part, at any time upon giving you notice as required by applicable law.

If the bank takes legal proceedings against you because of a default in the terms of this agreement, you must pay all collection costs and court costs, including reasonable attorney’s fees.  Your responsibility for fees and costs shall in no event exceed the maximum allowed by law.

If your account is joint with one or more persons, each of you is subject to this agreement and both individually and jointly responsible for any obligations arising from the use of the card or electronic service.  Any notice given by the bank shall be deemed given to all parties if mailed in writing to any one person bounded by this agreement at the person’s last address furnished in writing to the bank.

You understand and agree the completion of an application for the card or electronic service and acceptance of the application by the bank in itself does not constitute approval of the card or electronic service.  You agree to authorize the bank to check your credit and employment history and to answer questions about your credit experience with the bank.

*THIS SECTION APPLIES TO CONSUMER ACCOUNTS ONLY.

The term “Consumer” means a natural person for the purpose of this agreement.

The term “Account” for the purpose of this agreement means a demand deposit  (checking), savings, or other consumer asset account (other than an occasional or incidental credit balance in a credit plan) held directly or indirectly by a financial institution and established primarily for personal, family, or household purposes.  The term “Account” does not include an account held by a financial institution under a bona fide trust agreement or custodial agreement that qualifies as a trust under the Internal Revenue Code, such as a Health Savings Account.

YOUR ABILITY TO WITHDRAW FUNDS

Our policy is to make funds from your deposits available to you on the first business day after the day we receive your deposit.  Electronic direct deposits will be available on the day we receive your deposit.  Once they are available, you can withdraw the funds in cash and we will use the funds to pay checks that you have written.

For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays.  If you make a deposit before 6 p.m. on a business day that we are open, we will consider that day to be the day of your deposit.  However, if you make a deposit after 6 p.m., during Saturday banking hours, or on a day we are not open, we will consider that the deposit was made on the next business day we are open.

Longer delays may apply. In some cases, we will not make all of the funds that you deposit by check available to you on the first business day after the day of your deposit.  Depending on the type of check that you deposit, funds may not be available until the fifth business day after the day of your deposit.  However, the first $100 of your deposits will be available on the first business day.

If we are not going to make all of the funds from your deposit available on the first business day, we will notify you at the time you make your deposit.  We will also tell you when the funds will be available.  If your deposit is not made directly to one of our employees, or if we decide to make this action after you have left the premises, we will mail you the notice by the day after we receive your deposit.

If you will need the funds from a deposit right away, you should ask us when the funds will be available.

In addition, funds you deposit by check may be delayed for a longer period under the following circumstances:

• We believe a check you deposit will not be paid;
• You deposit checks totaling more than $5,000 on any one day;
• You redeposit a check that has be returned unpaid;
• You have overdrawn your account repeatedly in the last six months;
• There is an emergency, such as failure of communications or computer equipment.

We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available.  They will generally be available no later than the eleventh business day after the day of your deposit.

Special rules for new accounts. If you are a new customer, the following special rules will apply during the first 30 days your account is open.

Funds from electronic direct deposits to your account will be available on the day we receive the deposit.  Funds from deposits of cash, wire transfers, and the first $5,000 of a day's total deposits of cashier's, certified, tellers, traveler's, and federal, state, and local government checks will be available on the first business day after the day of your deposit if the deposit meets certain conditions.  For example, the checks must be payable to you.  The excess over $5,000 will be available on the ninth business day after the day of your deposit.  If your deposit of these checks (other than a U.S. Treasury check) is not made in person to one of our employees, the first $5,000 will not be available until the second business day after the day of your deposit.

Funds from all other check deposits will be available on the eleventh business day after the day of your deposit.

Holds on other funds. If we cash a check for you that is drawn on another bank, we may withhold the availability of a corresponding amount of funds that are already in your account.  Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it.

If we accept for deposit a check that is drawn on another bank, we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us.  The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you deposited.

FEE INFORMATION FOR PERSONAL ACCOUNTS

Relationship Checking

Relationship Checking With Interest

Palmetto Index Account

Palmetto Index Account II

Basic Checking

Banclub® Checking

Seniority Club Checking

Health Savings Account

Regular Savings/Medical Savings Account

Youth Savings (Children under 16)

Money Market Account

Premium Money Market Account

Super Money Market Account

Individual Retirement Account

Miscellaneous Services

24 Hour Banking Information

Safe Deposit Box Charges

Additional Information

Interest Bearing Checking Accounts
(Except Palmetto Index Account)

• Your interest rate and annual percentage yield may change.  At our discretion, we may change the interest rate on your account daily.
• Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
• Interest is compounded monthly and credited to your account monthly on the day your statement is produced. If you close your account before interest is credited, you will not receive the accrued interest.
• We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the collected principal balance in the account each day.
• You must maintain a minimum balance of $750 ($1,000 for Seniority Club Checking or Presbyterian College Checking) in the account each day to obtain the disclosed annual percentage yield.

Palmetto Index Account

• The minimum balance to open this account is $15,000.
• The minimum daily balance to avoid charges is $15,000.
• If balance falls below minimum:
       Monthly maintenance $30.00
       Per withdrawal $.35
• Interest rates are indexed directly to the Money Fund ReportTM all taxable, 7-day simple yield average as published by iMoneyNet, Inc. There are four interest rate tiers based on the following daily collected balances:
       $50,000 or more = 100% of published rate
       $30,000 - $49,999 = 85% of published rate
       $15,000 - 29,999 = 70% of published rate
       Less than $15,000 = Interest Checking rate
• Your interest rate and annual percentage yield may change weekly.
• Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks).
• Interest is compounded monthly and credited to your account monthly on the day your statement is produced. If you close your account before interest is credited, you will not receive the accrued interest.
• We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the collected principal balance in the account each day.

Palmetto Index Account II

• The minimum balance to open this account is $2,500.
• The minimum daily balance to avoid charges is $2,500.
• If balance falls below minimum:
       Monthly maintenance $15.00
       Per withdrawal $.35
• Interest rates are indexed directly to the Money Fund ReportTM all taxable, 7-day simple yield average as published by iMoneyNet, Inc. There are four interest rate tiers based on the following daily collected balances:
       $10,000 or more = 70% of published rate minus 25 basis points
       $5,000 - $9,999 = 70% of published rate minus 50 basis points
       $2,500 - $4,999 = 70% of published rate minus 100 basis points
       Less than $2,500 = Interest Checking rate
• Your interest rate and annual percentage yield may change weekly.
• Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks).
• Interest is compounded monthly and credited to your account monthly on the day your statement is produced. If you close your account before interest is credited, you will not receive the accrued interest.
• We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the collected principal balance in the account each day.

Health Savings Account

• Your interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on your account daily.
• Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks).
• Interest is compounded monthly and credited to your account monthly on the day your statement is produced. If you close your account before interest is credited, you will not receive the accrued interest.
• We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the collected principal balance in the account each day.
• You must maintain a minimum monthly balance of $1,000 to avoid a $3.00 fee.

Regular Savings Account, Youth Savings Account, Medical Savings Account

• Your interest rate and annual percentage yield may change.  At our discretion, we may change the interest rate on your account daily.
• Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
• Interest is compounded quarterly and credited to your account quarterly on the day your statement is produced.
• We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the collected principal balance in the account each day. 
• You may not exceed six (6) preauthorized Internet Banking or telephone banking transfers from your account during a month, none may be payments to third parties.

Christmas Club Account

• Your interest rate and annual percentage yield may change.  At our discretion, we may change the interest rate on your account daily.
• Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
• Interest is not compounded and is credited to your account annually on the day your distribution check is produced. If you close your account before interest is credited, you will not receive the  accrued interest.
• We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the collected principal balance in the account each day.
• We will impose a penalty of $5 if you close the account before the end of the club period.
• Withdrawals are not allowed.

Regular Money Market Account

• Your interest rate and annual percentage yield may change.  At our discretion, we may change the interest rate on your account daily.
• Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
• Interest is compounded monthly and credited to your account monthly on the day your statement is produced.
• We use the daily balance method to calculate the interest on your account.  This method applies a daily periodic rate to the collected principal balance in the account each day.
• You must maintain a minimum balance of $1,000 in the account each day to obtain the disclosed annual percentage yield.
• You may make six (6) preauthorized, Internet Banking, or telephone transfers from your account during a monthly statement cycle period, but only three (3) may be payments by check to third parties.

Premium Money Market Account

• Your interest rate and annual percentage yield may change.  At our discretion, we may change the interest rate on your account daily.
• Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
• Interest is compounded monthly and credited to your account monthly on the day your statement is produced.
• We use the daily balance method to calculate the interest on your account.  This method applies a daily periodic rate to the collected principal balance in the account each day.
• You must maintain a minimum balance of $10,000 in the account each day to obtain the disclosed annual percentage yield.  If your balance is at least $1,000, but less than $10,000, the rate will be that disclosed for Interest Checking Accounts.
• You may make six (6) preauthorized, Internet Banking, or telephone transfers from your account during a monthly statement cycle period, but only three (3) may be payments by check to third parties.

Super Money Market Account

• Your interest rate and annual percentage yield may change.  At our discretion, we may change the interest rate on your account daily.
• Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
• Interest is compounded monthly and credited to your account monthly on the day your statement is produced.
• We use the daily balance method to calculate the interest on your account.  This method applies a daily periodic rate to the collected principal balance in the account each day.
• You must maintain a minimum balance of $25,000 in the account each day to obtain the disclosed annual percentage yield.  If your balance is at least $1,000, but less than $25,000, the rate will be that disclosed for Interest Checking Accounts.
• You may make six (6) preauthorized, Internet Banking, or telephone transfers from your account during a monthly statement cycle period, but only three (3) may be payments by check to third parties.

IRA Time Deposit Open Account

• If you choose the variable rate option, the interest rate on your account may change. We may change the rate on your account on the first business day of each calendar month.
• If you choose the fixed rate option, the interest rate on your account will be paid until the maturity date of the account. The maturity date on your account is disclosed on the face of the account agreement.
• Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
• Interest is compounded quarterly and credited to your account quarterly on the last business day.
• We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the collected principal balance in the account each day.
• This account will automatically renew at maturity. You will have ten (10) calendar days from the maturity date to withdraw your funds without being charged a penalty.
• If any of the deposit is withdrawn before the maturity date, a penalty equal to three (3) month's interest on the amount drawn will be imposed. We will charge the penalty first against the accrued interest remaining in the account and any excess will be deducted from the amount of the withdrawal.

Certificates of Deposit

• The interest rate on your account will be paid until the maturity date of the account. Your certificate will mature on the date stated on the face of the certificate. The annual percentage yield assumes interest remains on deposit until maturity.  A withdrawal of interest will reduce earnings.
• Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
• Interest is compounded quarterly and credited to your account quarterly or at maturity (if the term is less than three (3) months) on the same day of the month that the account was opened.
• You must deposit at least $1,000 to open this account.
• We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the collected principal balance in the account each day.
• This account will automatically renew at maturity. You will have ten (10) calendar days from the maturity date to withdraw your funds without being charged a penalty.
• After the account is opened, you may not make deposits into or withdrawals from this account until the maturity date.
• If any of the deposit is withdrawn before the maturity date, a penalty as show below will be imposed:

For current interest rate information, call 1-800-PAL-BANK or 1-800-955-8393 or click here.