Direct Deposit Checking Account - PeoplesBank

Direct Deposit Checking Account

Date: 8/9/2017 Account Type: Direct Deposit Checking

*INTEREST* This product does not earn interest

*MINIMUM BALANCE REQUIREMENTS* A minimum deposit of $25.00 is required to open this account. There is no minimum required balance, but a deposit made by an Electronic Funds Transfer Service must be made at least once every sixty (60) days..

*ADDITIONS TO ACCOUNT* There are no deposit limitations on this account.

*TRANSACTION LIMITATIONS* There are no withdrawal limitations on this account.

*FEES AND CHARGES* The following fees are waived on this account:

? Monthly maintenance fee ? Foreign ATM withdrawals (other banks may charge a surcharge for using their

machines)

*ADDITIONAL DISCLOSURE INFORMATION*

? You must have a deposit made by an Electronic Funds Transfer Service at least once every sixty (60) days. If you fail to maintain a direct deposit service, your account will be converted to a Free for All Demand Deposit Account. The Free for All account is non-interest bearing. With this conversion, all benefits unique to the

Direct Deposit Checking account will no longer be available and waived fees are restricted to four (4) foreign ATM withdrawals per month. ? Each day's transactions are deducted from this account in the following order. We reserve the right to change this order upon proper notice to you: o First: VISA? check card (POS and ATM) o Second: Preauthorized electronic debits (ACH) o Third: Checks accepted at our Financial Centers, in check number order o Fourth: Checks from all other sources, in check number order on the day the

Bank receives them ? This account consists of a checking sub-account and a savings sub-account. The

Bank may periodically transfer funds between these two sub-accounts. On the sixth transfer during the calendar month, any funds in the savings sub-account will be transferred back to the checking sub-account. If your account is interest bearing, your interest calculation will remain the same. If your account does not earn interest, the savings sub-account will not earn interest. The savings sub-account will be governed by the rules governing the Bank's other savings accounts. This process will not affect your available balance, the interest you may earn, FDIC insurance protection, or your monthly statement.

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