Laurel Road High Yield Savings^® for Doctors

Personal Savings Account Fees and Disclosures

Effective December 9, 2022.
Laurel Road, a Brand of KeyBank National Association, Member FDIC

Laurel Road High Yield Savings^® Account

It is important to note that there could be more than one interest rate balance tier earning interest at the same interest rate.

*For Personal Accounts, the Interest Rates quoted and corresponding Annual Percentage Yields (“APY”) are those which were in effect on the day the Account was opened or an inquiry was made as specified above. The applicable Interest Rate applies to the entire balance in the Account. Rates are guaranteed only to the extent specified in this Personal Savings Account Fees and Disclosures.

This Personal Savings Account Fees and Disclosures (“Disclosure”) provides information about deposit accounts we offer. While this Disclosure is accurate as of the effective date noted above, specific product features may be changed from time to time. A copy of the current Disclosure may be obtained upon request by contacting us. Current Interest Rate information may be obtained by contacting Laurel Road customer service at 1-833-HCP-Bank (1-833-427-2265), or writing Laurel Road P.O. Box 191, Bridgeport, CT 06601. For clients using a TDD/TTY device, please call 1-800-539-8336.

Interest Rates & Payments

All savings accounts pay interest at a variable rate and rates may vary based on the balance in your Account. Refer to the Interest Rate and Annual Percentage Yield (APY) chart for interest rate and APY information pertaining to your Account. We may change the interest rate and APY at our discretion and as often as daily. There are no limits on the amount that the interest rate or APY may change. The interest rate and APY for this Account may vary based on multiple factors including, but not limited to: your overall relationship with the bank as defined by other Accounts you have, the balances in all of your Accounts, Account location, Account usage and other bank services you use. We use the daily balance method to compute interest on Accounts. This method applies a daily percentage rate to the balance in the Account each day. To determine the daily percentage rate, we divide the interest rate by the actual number of days in the year. Interest begins to accrue on non-cash items (for example, checks) presented to us no later than the business day we receive credit for the deposit. Interest is compounded daily and credited to your Account monthly.

If you close your Account within ten (10) business days after the last interest payment date, the accrued but not yet credited interest will not be paid. If you close your Account after the tenth business day, interest accrued up to, but not including, the day of withdrawal will be paid at closing.

Laurel Road High Yield Savings Account

The minimum deposit required to open this Account is $0.00. This Account pays a variable rate of interest as described in the “Interest Rates & Payments” section. The monthly Maintenance Service Charge is $0.00. Your canceled checks and digital images of your canceled checks will be held by KeyBank in our secure system. We reserve the right to limit opening deposits in this account to $500,000.00 per account.

Additional Account Information

In addition to your specific Account service charges described above, your Account may also incur service charges as described in the OTHER CHARGES section listed at the end of this document. Your Account is also subject to our Deposit Account Agreement and Funds Availability Policy.

The term Withdrawal means any check, any preauthorized transfer or withdrawal (including any electronic debit or automatic payment), and any telephone transfer or wire transfer of funds from your Account. The term checks/withdrawals paid as referenced in this Disclosure means a check, or each withdrawal made in a KeyBank branch. Deposit means a deposit of funds into your Account, including any electronic direct deposit, automatic deposit or telephone transfer.

The Daily Balance is the balance in your Account each day. The Average Daily Balance is calculated by adding the Daily Balance in your Account for each day of the statement period and dividing that amount by the number of days in the statement period.

We provide detailed statements for all Accounts (except passbook savings). Check safekeeping is required. Check safekeeping means that your canceled checks and other items are not returned with the statement but are stored for you on microfilm records. If you request a copy of a canceled check or item, we will send you the copy (refer to the OTHER CHARGES section for applicable service charges), provided that the check or item was presented for payment within the time period during which we maintain copies of checks (normally seven years).

OTHER CHARGES

Excess Withdrawal/Transfer Charge

If the number of withdrawals/transfers made to another KeyBank account of yours or to a third party by means of a preauthorized or automatic transfer or telephonic (including data transmission) agreement, order or instruction, or by check, draft, debit card, or similar order and payable to a third party exceeds a total of seven (7) per monthly period, your account will be charged $15.00 for each transfer or payment over the limit.

Service Charges in Connection with an Account:

Overdraft Services

¹Paying your Account into overdraft is done at KeyBank’s discretion.

²In rare cases, OD Charges may not post on the same day as the transaction which triggers the fee(s). As a result, more than 3 OD Charges may post to your account on a single day, but you will never be assessed fees for more than 3 transactions posted per day.

³If more than 20 OD Charges are incurred within the monthly period, we may, in our discretion, continue to pay items into overdraft, but you will not be assessed additional OD Charges for such transactions.

⁴This fee is based on end of day current (Ledger) balance.

Current (ledger) balance shows the total amount of money in your account at the end of the day, but the total amount may not be ready for use.

*Available balance is the amount of money in your account available for use. This balance does reflect deposit and withdrawal transactions that have not yet posted.

For more detail on transaction posting please reference section 6 of your Deposit Account Agreement and Funds Availability Policy.

Other Service Charges

• Returned Statement Charge If your statement is returned to the bank due to an incorrect address, your Account will be assessed a $10.00 Returned Statement Charge. For each month that follows (months two through a maximum of 12 consecutive months) where a current address has not been provided, a Statement Information Safekeeping Fee of $10.00 per month will be assessed.
• Statement Special Handling Charge: If you request special handling of your deposit account statement, your Account will be charged $10.00 per month for this service. If you have combined statements for your deposit Accounts only your primary Account will be assessed the monthly charge.