LEGAL
COMMERCIAL TERMS & CONDITIONS
Last updated September 6, 2024
BUSINESS INTEREST CHECKING TERMS & CONDITIONS
Account Opening & Maintenance
Minimum Opening Deposit | $100.00 |
Statement Cycle | Monthly |
Monthly Maintenance Fee | $0.00 |
Abandoned Property | $50.00 per account1 |
These terms and your Deposit Account Agreement are subject to change with notice as required by law. See your Deposit Account Agreement for details.
1. An account will not be overdrawn by the Abandoned Property fee. An abandoned account with a balance of less than $50.00 will be assessed the amount available, reducing the balance to zero.
Debit Card Fees
LendingClub Fee to Use SUM or MoneyPass ATM (“In-Network ATMs”) | $0.00 |
LendingClub Fee to Use Out-of-Network ATM | $0.00 |
Currency Conversion Fee | .20% of the transaction amount2 |
Cross Border (International) Transaction Fee | .90% of the transaction amount3 |
Expedited Debit Card | $35.00 |
The Currency Conversion Fee and Cross Border (International) Transaction Fee are charged on International Transactions. International transactions are those transactions made using your ATM or Debit Card in person, online or via telephone with a party located or who processes transactions outside of the United States, even if the transactions are initiated within the United States and/or in U.S. Dollars.
2. This charge will be .20% of the non-U.S. dollar denominated transaction amount
3. Fee is charged whenever the country of the merchant is different than the country of the cardholder, even if the transaction is initiated within the United States and/or in U.S. dollars.
Wire Transfer Fees
Incoming Wires (Domestic and International) | $0.00 |
Domestic Outgoing Wire | $18.00 |
International Outgoing Wire | $40.00 |
Other Miscellaneous Fees
Stop Payment | $25.00 |
Deposited Item Reversal | $8.00 |
Canadian Item Collection | $7.00 |
Foreign Item Collection | $30.00 |
Research | $25.00 per hour |
Levy, Garnishment, Summons, Subpoenas and Court Orders | $75.00 |
Interest Earned
Interest Calculation | Daily Balance Computation Method. LendingClub Bank uses the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. The account earns interest on the entire account balance each day at the interest rate and annual percentage yield in effect for the appropriate balance tier. |
Interest Rate | Variable Interest Rate. LendingClub Bank may change the interest rate on the account at any time. Please refer to the table below for additional details. |
Accrued Interest | Accrued interest is credited to the balance in the account on the last business day of the statement cycle. We use a monthly statement cycle. Accrued interest that is credited to the balance in the account begins to earn interest no later than the next business day and compounds with each statement cycle. If you close your account or convert your account to a non-interest-bearing account before accrued interest, if any, is credited you will not receive the accrued interest. |
Interest Distribution | Interest earned on these accounts is remitted monthly. |
How Interest is Earned on Your Account
Daily Balance Computation Method — We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Your account earns interest on the entire account balance each day at the interest rate and annual percentage yield in effect for the appropriate balance tier. Accrued interest is credited to the balance in the account on the last business day of the statement cycle. We use a monthly statement cycle. Accrued interest that is credited to the balance in the account begins to earn interest no later than the next business day and compounds with each statement cycle.
If you close your account or convert your account to a non-interest-bearing account before accrued interest, if any, is credited you will not receive the accrued interest.
For additional terms governing your account, please consult the Business Deposit Account Agreement, Cash Management Services Agreement and rate disclosure document.
Business Interest Checking Interest Rate
Balance to Earn Interest | Interest Rate |
|---|---|
$0.01+ | 0.75% |
FREE BUSINESS CHECKING TERMS & CONDITIONS
Account Opening & Maintenance
Minimum Opening Deposit | $100.00 |
Statement Cycle | Monthly |
Monthly Maintenance Fee | $0.00 |
Abandoned Property | $50.00 per account1 |
These terms and your Deposit Account Agreement are subject to change with notice as required by law. See your Deposit Account Agreement for details.
1. An account will not be overdrawn by the Abandoned Property fee. An abandoned account with a balance of less than $50.00 will be assessed the amount available, reducing the balance to zero.
Debit Card Fees
LendingClub Fee to Use SUM or MoneyPass ATM (“In-Network ATMs”) | $0.00 |
LendingClub Fee to Use Out-of-Network ATM | $0.00 |
Currency Conversion Fee | .20% of the transaction amount2 |
Cross Border (International) Transaction Fee | .90% of the transaction amount3 |
Expedited Debit Card | $35.00 |
The Currency Conversion Fee and Cross Border (International) Transaction Fee are charged on International Transactions. International transactions are those transactions made using your ATM or Debit Card in person, online or via telephone with a party located or who processes transactions outside of the United States, even if the transactions are initiated within the United States and/or in U.S. Dollars.
2. This charge will be .20% of the non-U.S. dollar denominated transaction amount
3. Fee is charged whenever the country of the merchant is different than the country of the cardholder, even if the transaction is initiated within the United States and/or in U.S. dollars
Wire Transfer Fees
Domestic Outgoing Wire | $18.00 |
International Outgoing Wire | $40.00 |
Other Miscellaneous Fees
Stop Payment | $25.00 |
Deposited Item Reversal | $8.00 |
Canadian Item Collection | $7.00 |
Foreign Item Collection | $30.00 |
Research | $25.00 per hour |
Levy, Garnishment, Summons, Subpoenas and Court Orders | $75.00 |
For additional terms governing your account, please consult the Business Deposit Account Agreement and the Cash Management Services Agreement
Interest Earned
Interest Earned | No interest earned or distributed with this account type |
CUSTODIAL CHECKING TERMS & CONDITIONS
Account Opening & Maintenance
Minimum Opening Deposit | $100.00 |
Statement Cycle | Monthly |
Monthly Maintenance Fee | $0.00 |
Abandoned Property | $50.00 per account1 |
These terms and your Deposit Account Agreement are subject to change with notice as required by law. See your Deposit Account Agreement for details.
1. An account will not be overdrawn by the Abandoned Property fee. An abandoned account with a balance of less than $50.00 will be assessed the amount available, reducing the balance to zero.
Debit Card Fees
LendingClub Fee to Use SUM or MoneyPass ATM (“In-Network ATMs”) | $0.00 |
LendingClub Fee to Use Out-of-Network ATM | $0.00 |
Currency Conversion Fee | .20% of the transaction amount2 |
Cross Border (International) Transaction Fee | .90% of the transaction amount3 |
Expedited Debit Card | $35.00 |
The Currency Conversion Fee and Cross Border (International) Transaction Fee are charged on International Transactions. International transactions are those transactions made using your ATM or Debit Card in person, online or via telephone with a party located or who processes transactions outside of the United States, even if the transactions are initiated within the United States and/or in U.S. Dollars.
2. This charge will be .20% of the non-U.S. dollar denominated transaction amount
3. Fee is charged whenever the country of the merchant is different than the country of the cardholder, even if the transaction is initiated within the United States and/or in U.S. dollars.
Wire Transfer Fees
Domestic Outgoing Wire | $18.00 |
International Outgoing Wire | $40.00 |
Other Miscellaneous Fees
Stop Payment | $25.00 |
Deposited Item Reversal | $8.00 |
Canadian Item Collection | $7.00 |
Foreign Item Collection | $30.00 |
Research | $25.00 per hour |
Levy, Garnishment, Summons, Subpoenas and Court Orders | $75.00 |
For additional terms governing your account, please consult the Business Deposit Account Agreement and the Cash Management Services Agreement
Interest Earned
Interest Calculation | Daily Balance Computation Method. LendingClub Bank uses the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. The account earns interest on the entire account balance each day at the interest rate and annual percentage yield in effect for the appropriate balance tier. |
Interest Rate | Variable Interest Rate. LendingClub Bank may change the interest rate on the account at any time. Please refer to the table below for additional details. |
Accrued Interest | Accrued interest is credited to the balance in the account on the last business day of the statement cycle. We use a monthly statement cycle. Accrued interest that is credited to the balance in the account begins to earn interest no later than the next business day and compounds with each statement cycle. If you close your account or convert your account to a non-interest-bearing account before accrued interest, if any, is credited you will not receive the accrued interest. |
Interest Distribution | Interest earned on these accounts is remitted monthly. |
Balance to Earn Interest | Interest Rate |
$0.01+ | 0.75% |
ESCROW CHECKING TERMS & CONDITIONS
Account Opening & Maintenance
Minimum Opening Deposit | $10.00 |
Statement Cycle | Monthly |
Monthly Maintenance Fee | $0.00 |
Abandoned Property | $50.00 per account1 |
These terms and your Deposit Account Agreement are subject to change with notice as required by law. See your Deposit Account Agreement for details.
1. An account will not be overdrawn by the Abandoned Property fee. An abandoned account with a balance of less than $50.00 will be assessed the amount available, reducing the balance to zero.
Wire Transfer Fees
Domestic Outgoing Wire | $18.00 |
International Outgoing Wire | $40.00 |
Other Miscellaneous Fees
Stop Payment | $25.00 |
Deposited Item Reversal | $8.00 |
Canadian Item Collection | $7.00 |
Foreign Item Collection | $30.00 |
Research | $25.00 per hour |
Levy, Garnishment, Summons, Subpoenas and Court Orders | $75.00 |
Interest Earned
Interest Calculation | Daily Balance Computation Method. LendingClub Bank uses the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. The account earns interest on the entire account balance each day at the interest rate and annual percentage yield in effect for the appropriate balance tier. |
Interest Rate | Variable Interest Rate. LendingClub Bank may change the interest rate on the account at any time. Please refer to the table below for additional details. |
Accrued Interest | Accrued interest is credited to the balance in the account on the last business day of the statement cycle. We use a monthly statement cycle. Accrued interest that is credited to the balance in the account begins to earn interest no later than the next business day and compounds with each statement cycle. If you close your account or convert your account to a non-interest-bearing account before accrued interest, if any, is credited you will not receive the accrued interest. |
Balance to Earn Interest | Interest Rate |
$0-$499,999 | 0.25% |
$500,000-999,999 | 0.35% |
1,000,000 & Above | 0.50% |
How Interest is Earned on Your Account
Daily Balance Computation Method — We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Your account earns interest on the entire account balance each day at the interest rate and annual percentage yield in effect for the appropriate balance tier. Accrued interest is credited to the balance in the account on the last business day of the statement cycle. We use a monthly statement cycle. Accrued interest that is credited to the balance in the account begins to earn interest no later than the next business day and compounds with each statement cycle.
If you close your account or convert your account to a non-interest-bearing account before accrued interest, if any, is credited you will not receive the accrued interest.
For additional terms governing your account, please consult the Business Deposit Account Agreement, Cash Management Services Agreement and rate disclosure document.
BUSINESS MONEY MARKET TERMS & CONDITIONS
Account Opening & Maintenance
Minimum Opening Deposit | $100.00 |
Statement Cycle | Monthly |
Monthly Maintenance Fee | $0.00 |
Abandoned Property | $50.00 per account1 |
These terms and your Deposit Account Agreement are subject to change with notice as required by law. See your Deposit Account Agreement for details.
1. An account will not be overdrawn by the Abandoned Property fee. An abandoned account with a balance of less than $50.00 will be assessed the amount available, reducing the balance to zero
ATM & Debit Card Fees
LendingClub Fee to Use SUM or MoneyPass ATM (“In-Network ATMs”) | $0.00 |
LendingClub Fee to Use Out-of-Network ATM | $0.00 |
Currency Conversion Fee | .20% of the transaction amount2 |
Cross Border (International) Transaction Fee | .90% of the transaction amount3 |
Excessive Transaction Fee | $13 per check after the 6th check is written |
Expedited ATM / Debit Card | $35.00 |
The Currency Conversion Fee and Cross Border (International) Transaction Fee are charged on International Transactions. International transactions are those transactions made using your ATM or Debit Card in person, online or via telephone with a party located or who processes transactions outside of the United States, even if the transactions are initiated within the United States and/or in U.S. Dollars.
2. This charge will be .20% of the non-U.S. dollar denominated transaction amount
3. Fee is charged whenever the country of the merchant is different than the country of the cardholder, even if the transaction is initiated within the United States and/or in U.S. dollars.
Wire Transfer Fees
Domestic Outgoing Wire | $18.00 |
International Outgoing Wire | $40.00 |
Other Miscellaneous Fees
Stop Payment | $25.00 |
Deposited Item Reversal | $8.00 |
Canadian Item Collection | $7.00 |
Foreign Item Collection | $30.00 |
Research | $25.00 per hour |
Levy, Garnishment, Summons, Subpoenas and Court Orders | $75.00 |
Interest Earned
Interest Calculation | Daily Balance Computation Method. LendingClub Bank uses the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. The account earns interest on the entire account balance each day at the interest rate and annual percentage yield in effect for the appropriate balance tier. |
Interest Rate | Variable Interest Rate. LendingClub Bank may change the interest rate on the account at any time. Please refer to the table below for additional details. |
Accrued Interest | Accrued interest is credited to the balance in the account on the last business day of the statement cycle. We use a monthly statement cycle. Accrued interest that is credited to the balance in the account begins to earn interest no later than the next business day and compounds with each statement cycle. If you close your account or convert your account to a non-interest-bearing account before accrued interest, if any, is credited you will not receive the accrued interest. |
Interest Distribution | Interest earned on these accounts is remitted monthly. |
Balance to Earn Interest | Interest Rate |
$0-$99,999.99 | 0.75% |
$100,000.00 - $249,999.99 | 0.85% |
$250,000.00 - $999,999.99 | 1.00% |
$1,000,000.00 - $4,999,999.99 | 1.5% |
$5,000,000.00 + | 1.75% |
How Interest is Earned on Your Account
Daily Balance Computation Method — We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Your account earns interest on the entire account balance each day at the interest rate and annual percentage yield in effect for the appropriate balance tier. Accrued interest is credited to the balance in the account on the last business day of the statement cycle. We use a monthly statement cycle. Accrued interest that is credited to the balance in the account begins to earn interest no later than the next business day and compounds with each statement cycle.
If you close your account or convert your account to a non-interest-bearing account before accrued interest, if any, is credited you will not receive the accrued interest.
For additional terms governing your account, please consult the Business Deposit Account Agreement, Cash Management Services Agreement and the rate disclosure document.
BUSINESS STATEMENT SAVINGS TERMS & CONDITIONS
Account Opening & Maintenance
Minimum Opening Deposit | $100.00 |
Statement Cycle | Monthly |
Monthly Maintenance Fee | $0.00 |
Abandoned Property | $50.00 per account1 |
These terms and your Deposit Account Agreement are subject to change with notice as required by law. See your Deposit Account Agreement for details.
1. An account will not be overdrawn by the Abandoned Property fee. An abandoned account with a balance of less than $50.00 will be assessed the amount available, reducing the balance to zero.
ATM & Debit Card Fees
LendingClub Fee to Use SUM or MoneyPass ATM (“In-Network ATMs”) | $0.00 |
LendingClub Fee to Use Out-of-Network ATM | $0.00 |
Currency Conversion Fee | .20% of the transaction amount2 |
Cross Border (International) Transaction Fee | .90% of the transaction amount3 |
The Currency Conversion Fee and Cross Border (International) Transaction Fee are charged on International Transactions. International transactions are those transactions made using your ATM or Debit Card in person, online or via telephone with a party located or who processes transactions outside of the United States, even if the transactions are initiated within the United States and/or in U.S. Dollars.
2. This charge will be .20% of the non-U.S. dollar denominated transaction amount
3. Fee is charged whenever the country of the merchant is different than the country of the cardholder, even if the transaction is initiated within the United States and/or in U.S. dollars.
Wire Transfer Fees
Domestic Outgoing Wire | $18.00 |
International Outgoing Wire | $40.00 |
Other Miscellaneous Fees
Stop Payment | $25.00 |
Deposited Item Reversal | $8.00 |
Canadian Item Collection | $7.00 |
Foreign Item Collection | $30.00 |
Research | $25.00 per hour |
Levy, Garnishment, Summons, Subpoenas and Court Orders | $75.00 |
Interest Earned
Interest Calculation | Daily Balance Computation Method. LendingClub Bank uses the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. The account earns interest on the entire account balance each day at the interest rate and annual percentage yield in effect for the appropriate balance tier. |
Interest Rate | Variable Interest Rate. LendingClub Bank may change the interest rate on the account at any time. Please refer to the table below for additional details. |
Accrued Interest | Accrued interest is credited to the balance in the account on the last business day of the statement cycle. We use a monthly statement cycle. Accrued interest that is credited to the balance in the account begins to earn interest no later than the next business day and compounds with each statement cycle. If you close your account or convert your account to a non-interest-bearing account before accrued interest, if any, is credited you will not receive the accrued interest. |
Interest Distribution | Interest earned on these accounts is remitted monthly. |
Business Statement Savings
Balance to Earn Interest | Interest Rate |
$0 - $49.99 | 0.00% |
$50.00 - $499.99 | 0.05% |
$500.00+ | 0.05% |
How Interest is Earned on Your Account
Daily Balance Computation Method — We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Your account earns interest on the entire account balance each day at the interest rate and annual percentage yield in effect for the appropriate balance tier. Accrued interest is credited to the balance in the account on the last business day of the statement cycle. We use a monthly statement cycle. Accrued interest that is credited to the balance in the account begins to earn interest no later than the next business day and compounds with each statement cycle.
IIOLTA – Rhode Island
ACCOUNT OPENING & MAINTENANCE
Minimum Opening Deposit | $100.00 |
Statement Cycle | Monthly |
Monthly Maintenance Fee | $0.00 |
Overdraft Practices and Services | Customers are required to keep these accounts free of overdraft. No overdraft protection is offered. |
Abandoned Property | $50.00 per account1 |
These terms and your Deposit Account Agreement are subject to change with notice as required by law. See your Deposit Account Agreement for details.
1. An account will not be overdrawn by the Abandoned Property fee. An abandoned account with a balance of less than $50.00 will be assessed the amount available, reducing the balance to zero.
WIRE TRANSFER FEES
Incoming Wires (Domestic and International) | $0.00 |
Domestic Outgoing Wire | $18.00 |
International Outgoing Wire | $40.00 |
OTHER MISCELLANEOUS FEES
Stop Payment | $25.00 |
Deposited Item Reversal | $8.00 |
Canadian Item Collection | $7.00 |
Foreign Item Collection | $30.00 |
Research | $25.00 per hour |
Levy, Garnishment, Summons, Subpoenas and Court Orders | $75.00 |
OTHER ACCOUNT FEATURES
Reporting Requirements | Based on the nature of the account, LendingClub Bank reserves the right to disclose transaction details, including but not limited to contributions, expenditures, account balances, and other relevant financial information, to federal or state agencies or authorities as required by applicable federal or state reporting requirements. |
INTEREST EARNED
Interest Calculation | Daily Balance Computation Method. LendingClub Bank uses the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. The account earns interest on the entire account balance each day at the interest rate and annual percentage yield in effect for the appropriate balance tier. |
Interest Rate | Variable Interest Rate. LendingClub Bank may change the interest rate on the account at any time. Please refer to the table below for additional details. |
Accrued Interest | Accrued interest is credited to the balance in the account on the last business day of the statement cycle. We use a monthly statement cycle. Accrued interest that is credited to the balance in the account begins to earn interest no later than the next business day and compounds with each statement cycle. If you close your account or convert your account to a non-interest-bearing account before accrued interest, if any, is credited you will not receive the accrued interest. |
Interest Distribution | Interest earned on these accounts is remitted monthly by the 5th business day to the respective governing state bar organization in the state where the account is opened. |
RI IOLTA Account
Balance to Earn Interest | Interest Rate |
$0.01+ | 65% of the Federal Funds target interest rate. |
IOLTA – Massachusetts
ACCOUNT OPENING & MAINTENANCE
Minimum Opening Deposit | $100.00 |
Statement Cycle | Monthly |
Monthly Maintenance Fee | $0.00 |
Overdraft Practices and Services | Customers are required to keep these accounts free of overdraft. No overdraft protection is offered. |
Abandoned Property | $50.00 per account1 |
These terms and your Deposit Account Agreement are subject to change with notice as required by law. See your Deposit Account Agreement for details.
1. An account will not be overdrawn by the Abandoned Property fee. An abandoned account with a balance of less than $50.00 will be assessed the amount available, reducing the balance to zero.
WIRE TRANSFER FEES
Incoming Wires (Domestic and International) | $0.00 |
Domestic Outgoing Wire | $18.00 |
International Outgoing Wire | $40.00 |
OTHER MISCELLANEOUS FEES
Stop Payment | $25.00 |
Deposited Item Reversal | $8.00 |
Canadian Item Collection | $7.00 |
Foreign Item Collection | $30.00 |
Research | $25.00 per hour |
Levy, Garnishment, Summons, Subpoenas and Court Orders | $75.00 |
OTHER ACCOUNT FEATURES
Reporting Requirements | Based on the nature of the account, LendingClub Bank reserves the right to disclose transaction details, including but not limited to contributions, expenditures, account balances, and other relevant financial information, to federal or state agencies or authorities as required by applicable federal or state reporting requirements. |
INTEREST EARNED
Interest Calculation | Daily Balance Computation Method. LendingClub Bank uses the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. The account earns interest on the entire account balance each day at the interest rate and annual percentage yield in effect for the appropriate balance tier. |
Interest Rate | Variable Interest Rate. LendingClub Bank may change the interest rate on the account at any time. Please refer to the table below for additional details. |
Accrued Interest | Accrued interest is credited to the balance in the account on the last business day of the statement cycle. We use a monthly statement cycle. Accrued interest that is credited to the balance in the account begins to earn interest no later than the next business day and compounds with each statement cycle. If you close your account or convert your account to a non-interest-bearing account before accrued interest, if any, is credited you will not receive the accrued interest. |
Interest Distribution | Interest earned on these accounts is remitted monthly by the 5th business day to the respective governing state bar organization in the state where the account is opened. |
MA IOLTA Account
Balance to Earn Interest | Interest Rate |
$0.01+ | 55% of the Federal Funds target interest rate. |
IOLTA - California
ACCOUNT OPENING & MAINTENANCE
Minimum Opening Deposit | $100.00 |
Statement Cycle | Monthly |
Monthly Maintenance Fee | $0.00 |
Overdraft Practices and Services | Customers are required to keep these accounts free of overdraft. No overdraft protection is offered. |
Abandoned Property | $50.00 per account1 |
These terms and your Deposit Account Agreement are subject to change with notice as required by law. See your Deposit Account Agreement for details.
1. An account will not be overdrawn by the Abandoned Property fee. An abandoned account with a balance of less than $50.00 will be assessed the amount available, reducing the balance to zero.
WIRE TRANSFER FEES
Incoming Wires (Domestic and International) | $0.00 |
Domestic Outgoing Wire | $18.00 |
International Outgoing Wire | $40.00 |
OTHER MISCELLANEOUS FEES
Stop Payment | $25.00 |
Deposited Item Reversal | $8.00 |
Canadian Item Collection | $7.00 |
Foreign Item Collection | $30.00 |
Research | $25.00 per hour |
Levy, Garnishment, Summons, Subpoenas and Court Orders | $75.00 |
OTHER ACCOUNT FEATURES
Reporting Requirements | Based on the nature of the account, LendingClub Bank reserves the right to disclose transaction details, including but not limited to contributions, expenditures, account balances, and other relevant financial information, to federal or state agencies or authorities as required by applicable federal or state reporting requirements. |
INTEREST EARNED
Interest Calculation | Daily Balance Computation Method. LendingClub Bank uses the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. The account earns interest on the entire account balance each day at the interest rate and annual percentage yield in effect for the appropriate balance tier. |
Interest Rate | Variable Interest Rate. LendingClub Bank may change the interest rate on the account at any time. Please refer to the table below for additional details. |
Accrued Interest | Accrued interest is credited to the balance in the account on the last business day of the statement cycle. We use a monthly statement cycle. Accrued interest that is credited to the balance in the account begins to earn interest no later than the next business day and compounds with each statement cycle. If you close your account or convert your account to a non-interest-bearing account before accrued interest, if any, is credited you will not receive the accrued interest. |
Interest Distribution | Interest earned on these accounts is remitted monthly by the 5th business day to the respective governing state bar organization in the state where the account is opened. |
CA IOLTA Account
Balance to Earn Interest | Interest Rate |
$0.01+ | 68% of the Federal Funds target interest rate. |
Account Analysis Checking
ACCOUNT OPENING & MAINTENANCE
Minimum Opening Deposit | $100.00 |
Statement Cycle | Monthly |
Monthly Maintenance Fee | $14.00 |
Overdraft Practices and Services | Customers are required to keep these accounts free of overdraft. No overdraft protection is offered. |
Abandoned Property | $50.00 per account1 |
These terms and your Deposit Account Agreement are subject to change with notice as required by law. See your Deposit Account Agreement for details.
1. An account will not be overdrawn by the Abandoned Property fee. An abandoned account with a balance of less than $50.00 will be assessed the amount available, reducing the balance to zero.
DEBIT CARD FEES
LendingClub Fee to Use SUM or MoneyPass ATM (“In-Network ATMs”) | $0.00 Plus, no fees charged by ATM owner |
LendingClub Fee to Use Out-of-Network ATM | $0.00 However, service fees charged by out-of-network banks or ATM owners may apply |
Currency Conversion Fee | .20% of the transaction amount2 |
Cross Border (International) Transaction Fee | .90% of the transaction amount3 |
Expedited Debit Card | $35.00 |
The Currency Conversion Fee and Cross Border (International) Transaction Fee are charged on International Transactions. International transactions are those transactions made using your ATM or Debit Card in person, online or via telephone with a party located or who processes transactions outside of the United States, even if the transactions are initiated within the United States and/or in U.S. Dollars.
2. This charge will be .20% of the non-U.S. dollar denominated transaction amount
3. Fee is charged whenever the country of the merchant is different than the country of the cardholder, even if the transaction is initiated within the United States and/or in U.S. dollars.
STANDARD DEPOSIT FEES
Checks Paid | $0.21 |
Deposit | $0.85 |
Items Deposited | $0.14 |
Deposited Item Reversal | $8.00 |
Zero Balance | $10.00 |
Stop Payment | $25.00 |
Credit / Debit Posted Electronic | $0.10 |
ACCOUNT RECONCILEMENT FEES
Positive Pay Monthly | $35.00 |
Positive Pay and/or Recon Per Item | $0.10 |
ACH Debit Filter/ACH Block | $35.00 |
AUTOMATED CLEARING HOUSE FEES
ACH Module | $35.00 |
ACH File Origination | $10.00 |
ACH Debit/Credit Origination | $0.10 |
ACH DR/CR Received | $0.10 |
ACH Returned Item | $8.00 |
INFORMATION REPORTING FEES
Premium Business Online Banking | $25.00 |
WIRE TRANSFER FEES
Incoming Wires (Domestic and International) | $10.00 |
Domestic Outgoing Wire | $18.00 |
International Outgoing Wire | $40.00 |
REMOTE DEPOSIT FEES
Remote Deposit Service - Monthly | $50.00 |
Remote Deposit - Per Item | $0.35 |
INTEREST EARNED
Interest Earned | No interest earned or distributed with this account type. |
CHANGES IN NAME AND CONTACT INFORMATION
You are responsible for notifying us of any change in your name, address, or other information we use to communicate with you. We will attempt to communicate with you only by use of the most recent information you have provided to us. Account owners must have a U.S. address at all times in order to maintain a deposit account with LendingClub Bank.
For additional terms governing your account, please consult the Business Deposit Account Agreement, Cash Management Services Agreement and rate disclosure document.
LendingClub Bank, N.A., Member FDIC
Rev Date: July 2024
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