LEGAL
COMMERCIAL TERMS & CONDITIONS
Last updated May 2, 2023
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 |
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 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 |
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 |
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 |
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 |
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 |
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 |
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 |
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 |
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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