Truth in Savings Disclosure for INTRUST Health Savings Account
Thank you for choosing INTRUST Bank, N.A.! This disclosure offers an overview of our Health Savings Account. The overview includes balance and interest rate information.
Rate Information: Interest will be calculated on the daily collected balance in your account. Interest will be based on tiers; only one tier of interest will be applied to your account per day. The collected balance in your account will determine which tier of interest will be used to calculate your interest for that day. Interest will be compounded and credited to your account on a monthly basis. The interest rate and annual percentage yield tiers for this account are found on the INTRUST Health Savings Account Rates & Fees page.
Variable Rates: This account earns a variable rate of interest; the interest rate and annual percentage yield may change. At our discretion, INTRUST Bank may change the interest rate on each tier, thereby changing the annual percentage yield at any time.
Minimum Balance Requirements: There is a monthly cycle account maintenance fee of $2.50. Avoid the monthly cycle account maintenance fee by maintaining an average collected balance of $1,000 in this account per monthly cycle.
Fees: There is an account set up fee of $15. Refer to the current Personal Accounts Fee Schedule for a listing of fees that may be assessed.
Prior Notice of Withdrawal: We may require you to give us seven (7) days written notice of your intent to withdraw money from your account. This notice would be a precondition to the withdrawal of any sum of money. By permitting withdrawals without notice, we do not waive our right to require such notice.
Service Charge Fee: Total monthly cycle service charge is the sum of the account maintenance fee, other service charge fees and activity fees. The account maintenance fee will be waived for one monthly cycle after opening this account.
Account Closing: If you close your account before interest is credited, you will not receive the accrued interest.
Non-cash Deposits: When you deposit a non-cash item (i.e. check), interest, if applicable, begins to accrue no later than the business day we receive credit for the deposit.
Balance Computation Method: We use the daily balance method to calculate the interest on your account. This method applies the daily periodic rate to the principal in the account each day.
Average Collected Balance: The average collected balance is calculated by adding the collected principal in the account for each day of the period and dividing the figure by the number of days in the period.
Month: An approximate four (4) week period or cycle, not necessarily a calendar month.
Monthly Cycle Data: Date on which the monthly cycle ends and a statement is created. In most cases, monthly service charge fees are assessed on the monthly cycle date.