This disclosure contains the rules which govern your deposit account.  Unless it would be inconsistent to do so, words and phrases used in this disclosure should be construed so that the singular includes the plural and the plural includes the singular.

We reserve the right to at any time require not less than 7 days notice in writing before any withdrawal from an interest bearing account.

Variable Rate

Business Checking with Interest and IOLTA accounts are interest bearing accounts;  Business Checking is a non-interest bearing account.

The current interest rate and annual percentage yield for Business Checking with Interest and IOLTA are located on the Current Rates schedule.  Your interest rate and annual percentage yield may change.

Determination of Rate 
At our discretion, we may change the interest rate on your account.

Frequency of Rate Change 
We may change the interest rate on your account daily.

Minimum Balance Requirements

You must deposit at least $100.00 to open a Business Checking with Interest account;  there is no minimum balance requirement to open a Business Checking or IOLTA account.

Service Charges – Business Checking with Interest
To avoid the imposition of the monthly service charge you must meet the following requirements:

A service charge of $10.00 will be imposed every statement cycle if the account alls below $2,500.00 any day of the statement cycle.  A service charge of $10.00 will be imposed every statement cycle if the average daily balance for the statement cycle falls below $5,000.00.  The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.  The period we use is statement cycle.

You must maintain a minimum balance of $1.00 in the account each day to obtain the disclosed annual percentage yield.  The period we use is statement cycle.

Compounding and Crediting

Interest will be compounded daily.  Interest will be credited monthly.  If you close your account before interest is credited, you will receive the accrued interest. 

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.  The period we use is statement cycle.

Accrual of Interest on Non-cash Deposits

Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). 

Free Unlimited Worldwide ATM Usage; currency conversion fees may apply when using ATMs in foreign countries.

Business Checking

A service charge of $10.00 will be charged every statement cycle and may be offset by an earnings credit during analysis.  Transaction fees of $0.10 per debit item, excluding ACH transactions, will also be included in analysis.

Business Checking with Interest

Available for Sole Proprietorships and Non-Profit Organizations only.

IOLTA

Service charge of $10.00 per statement cycle.  Interest credited is transferred to the State of Georgia monthly.

Remotely Created Checks - Like any standard check or draft, a remotely created check (sometimes called a telecheck, preauthorized draft or demand draft) is a check or draft that can be used to withdraw money from an account. Unlike a typical check or draft, however, a remotely created check is not issued by the paying bank and does not contain the signature of the account owner (or a signature purported to be the signature of the account owner). In place of a signature, the check usually has a statement that the owner authorized the check or has the owner’s name typed or printed on the signature line. For example, if a person provides an account number in response to a telephone solicitation, the telephone solicitor can use the account number to issue a remotely created check to withdraw money from that account.

You warrant and agree to the following for every remotely created check we receive from you for deposit or collection: (1) you have received express and verifiable authorization to create the check in the amount and to the payee that appears on the check; (2) you will maintain proof of the authorization for at least 2 years from the date of the authorization, and supply us the proof if we ask; and (3) if a check is returned, you owe us the amount of the check, regardless of when the check is returned. We may take funds from your account to pay the amount you owe us, and if there are insufficient funds in your account, you will owe us the remaining balance.

Revised 04/01/2006
Truth in Savings – Business Checking