LEGAL

COMMERCIAL TERMS & CONDITIONS

Last updated May 2, 2023

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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

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
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 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

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.  

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

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
Plus, no charge 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

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  

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

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
Plus, no charge 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

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   

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

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

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

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
Plus, no charge 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

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

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

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
Plus, no charge 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

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

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 sheet. 

LendingClub Bank, N.A., Member FDIC
Rev Date: May 2, 2023

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Unless otherwise specified, all credit and deposit products are provided by LendingClub Bank, N.A., Member FDIC, Equal Housing Lender (“LendingClub Bank”), a wholly-owned subsidiary of LendingClub Corporation, NMLS ID 167439. Credit products are subject to credit approval and may be subject to sufficient investor commitment. Credit union membership may be required. Deposit accounts are subject to approval. Deposit products are FDIC-insured up to $250,000 per depositor, per ownership category.

"LendingClub" and the "LC" symbol are trademarks of LendingClub Bank.

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