Understand the Differences Between Skagit Bank and Banner Bank s Products and Fees. Member FDIC

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1 Understand the Differences Between Skagit Bank and Banner Bank s Products and Fees Member FDIC

3 KEY DIFFERENCES ABOUT WHICH YOU SHOULD BE AWARE The following pages contain important differences between Skagit Bank and Banner Bank s products, services and fees. Refer to the enclosed Welcome and Disclosures Booklets for important dates and other actions you may need to take. 1. The Terms and Conditions of Your Account, and other disclosures contained herein (e.g., Truth in Savings, Funds Availability, Electronic Fund Transfers Your Rights and Obligations, etc.) are fully replacing the Skagit Bank Deposit Account Agreement and Disclosure and related Schedules and Disclosures. 2. Favorable changes include: a. Stop payments Stop payment requests were valid for six (6) months at Skagit Bank. Banner Bank honors stop payment requests for 24 months. b. Debit Cards Skagit Bank limits debit card daily point-of-sale limits to $1,500. Banner Bank s daily point-of-sale limit is $5,000 or up to the balance in your account. 3. Negative and/or potentially negative changes between Skagit Bank and Banner Bank s Terms and Conditions include: a. The time to notify the Bank of deposit errors is reduced from one (1) year at Skagit Bank to 30 days at Banner Bank (60 days if related to an electronic deposit to consumer account) after the statement date that includes the erroneous deposit. (Refer to the Statements section of the Terms and Conditions.) b. The posting order of debits may be different from Skagit Bank, which may affect the number of overdraft or return item fees. (Skagit Bank clears checks in check number order from lowest to highest, and other charges may be paid before checks in any order at Skagit Bank s discretion. Banner Bank s posting order of withdrawals received for payment from your account is in the following order: i. Over-the-counter items (In-Branch) Account Withdrawals in dollar order, from lowest to highest; ii. ATM and Debit Card by type of transaction, and within each transaction type in dollar order, from lowest to highest; iii. Account Transfers and Account Withdrawals by type of transaction, and within each transaction type in dollar order, from lowest to highest; iv. Automatic Payments (also known as ACH) and Banner Bank Electronic Online Bill Pay Payments by type of transaction, and within each transaction type in dollar order, from lowest to highest. v. Checks, Banner Bank Check Online Bill Pay Payments, and similar items based on check number, from lowest to highest. 2

4 Personal Accounts CHECKING ACCOUNTS Old Account Name Old Account Features New Account Name New Account Features Freedom Checking Minimum Daily Balance: Other Fees: Consumer Checking Minimum Daily Balance: Other Fees: $0 $0 Non-interest bearing Free Online Banking, Mobile Banking and Bill Payment *Additional $1.00 charge for paper statements. Additional $1.00 charge for check images. $3* $300 Non-interest bearing Free Online Banking, Mobile Banking and Bill Payment *Additional $1.00 charge for paper statements. Additional $1.00 charge for check images. Connected Checking Minimum Daily Balance: $0* No ongoing minimum balance is required Non-interest bearing No fee to use Banner ATMs Up to four (4) rebates per calendar month of surcharges assessed by non- Banner owned ATMs throughout the United States Free Online Banking, Mobile Banking with Snapshot Deposit, Online Bill Pay, Bank-by-Phone Free Electronic Statements Unlimited check writing For clients aged 65+: 50% off any personal check style or just pay shipping and handling cost for Banner logo wallet checks Connected Savings Account is available with no minimum balance or monthly fee with an automatic funds transfer from your Connected Checking Account of at least $25/month *Images of cancelled checks delivered with paper statements are available for $2/month 3

5 CHECKING ACCOUNTS Old Account Name Old Account Features New Account Name New Account Features Interest Plus Checking ^ $0* Interest bearing Free Online Banking, Mobile Banking and Bill Payment One order of Image Wallet/Duplicate Checks per Calendar Year (pay only shipping and handling) Connected Checking $0* Non-interest bearing No fee to use Banner ATMs Up to four (4) rebates per calendar month of surcharges assessed by non- Banner owned ATMs throughout the United States Free Online Banking, Mobile Banking with Snapshot Deposit, Online Bill Pay, Bank-by-Phone For clients aged 65+: 50% off any personal check style or just pay shipping and handling cost for Banner logo wallet checks. Connected Savings Account is available with no minimum balance or monthly fee with an automatic funds transfer from your Connected Checking Account of at least $25/month ^NOTE: Interest Plus Checking Account holders where October 2018 minimum balance is >$10,000 will be moved to Banner s Best Checking, instead of Connected Checking as noted here. Accounts opened October 1, 2018 and later will be moved to Connected Checking. *Additional $1.00 charge for paper statements. Additional $1.00 charge for check images. *Images of cancelled checks delivered with paper statements are available for $2/month 4

6 CHECKING ACCOUNTS Old Account Name Old Account Features New Account Name New Account Features Eagle Checking $6* Non-interest bearing IDProtect identity theft monitoring and resolution service Cellular telephone protections Up to $10,000 of Accidental Death and Dismemberment Insurance $hopping Rewards Debit Advantage covers items for 90 days from date of purchase against accidental breakage, fire or theft. Extends the U.S. manufacturer s original written warranty up to one full year on most new retail purchases if the warranty is less than five years. Travel & Leisure Discounts Family Health Discounts Free Online Banking, Mobile Banking and Bill Payment One order of Image Wallet/Duplicate Checks per Calendar Year (pay only shipping and handling) *Additional $1.00 charge for paper statements. Additional $1.00 charge for check images. Rewards Checking $6 Non-Interest bearing No fee to use Banner ATMs Up to six (6) rebates per calendar month of surcharges assessed by non-banner owned ATMs throughout the United States Earn $0.05 on every debit card purchase transaction (paid monthly) IDProtect identity theft monitoring and resolution service Cellular telephone protections Up to $10,000 of Accidental Death and Dismemberment Insurance Free Online Banking, Mobile Banking with Snapshot Deposit, Online Bill Pay, Bank-by- Phone Free paper statements For clients aged 65+: 50% off any personal check style or just pay shipping and handling cost for Banner logo wallet checks The $hopping Rewards, Debit Advantage, Travel & Leisure Discount and Family Health Discounts are discontinued Connected Savings Account is available with no minimum balance or monthly fee with an automatic funds transfer from your Rewards Checking Account of at least $25/month *Images of cancelled checks delivered with paper statements are available for $2/month 5

7 CHECKING ACCOUNTS Old Account Name Old Account Features New Account Name New Account Features Interest Checking $8* Minimum daily balance of $1,500 Interest bearing; interest compounded daily and credited monthly Free Online Banking, Mobile Banking and Bill Payment One order of Image Wallet/Duplicate Checks per Calendar Year (pay only shipping and handling) Interest Checking $7 Minimum daily balance of $1,500 or Average daily combined checking/savings relationship deposit balance^ of $10,000 Interest bearing; interest compounded daily and credited monthly No fee to use Banner ATMs Up to six (6) rebates per calendar month of surcharges assessed by non-banner owned ATMs throughout the United States Earn $0.05 on every debit card purchase transaction (paid monthly) Free Online Banking, Mobile Banking with Snapshot Deposit, Online Bill Pay, Bank-by- Phone Free paper statements Free images of cancelled checks (for clients with paper statements) For clients aged 65+: 50% off any personal check style or just pay shipping and handling cost for Banner logo wallet checks. Connected Savings Account is available with no minimum balance or monthly fee with an automatic funds transfer from your Interest Checking Account of at least $25/month *Additional $1.00 charge for paper statements. Additional $1.00 charge for check images. ^Relationship balances include all checking and savings accounts including the primary account holder as either a primary or join account holder. 6

8 CHECKING ACCOUNTS Old Account Name Old Account Features New Account Name New Account Features Interest Plus Checking* *NOTE: Interest Plus Checking Account holders where the October 2018 minimum balance is <$10,000, or were opened October 1, 2018 and later, will be moved to Connected Checking, instead of Banner s Best Checking as noted here. Banner Bank will notify all Account holders moving to Banner s Best Checking (by separate letter) following our systems conversion. $0* Interest bearing; interest compounded daily and credited monthly Free Online Banking, Mobile Banking and Bill Payment One order of Image Wallet/Duplicate Checks per Calendar Year (pay only shipping and handling) Banner s Best Checking $12 - Minimum daily balance of $5,000, OR - Average daily balance of $10,000, OR - Average daily combined relationship^ deposit balance of $25,000 Tiered Interest bearing; interest compounded daily and credited monthly No fee to use Banner ATMs Unlimited rebates of surcharges assessed by non- Banner owned ATMs throughout the United States Earn $0.05 on every debit card purchase transaction (paid monthly) Earn 0.25% over posted rates on new or renewed Certificates of Deposit (excludes CD specials) 0.25% rate reduction on new consumer loans, in addition to 0.25% for automatic payments.* 50% off safe deposit annual rental fee Free Online Banking, Mobile Banking, Snapshot Deposit, Online Bill Pay, Bank-by-Phone Free paper statements Free images of cancelled checks (for clients with paper statements) Free Banner logo wallet checks or 50% off any personal checks. Connected Savings Account is available with no minimum balance or monthly fee with an automatic funds transfer from the Connected Checking Account of at least $25/month *Subject to credit approval. Excludes 1-4 family mortgage and credit cards. *Additional $1.00 charge for paper ^Relationship balances include all checking and statements. Additional $1.00 charge for savings accounts including the primary account check images. holder as either a primary or join account holder. 7

9 SAVINGS ACCOUNTS Old Account Name Old Account Features New Account Name New Account Features Regular Savings Other Fees: Overdraft Sweep Savings $3 A minimum daily balance of $250 is maintained per calendar month; waived for account holders less than 18 years old. Tiered interest rates; interest compounded quarterly and paid quarterly May be used as an overdraft sweep account tied to a checking account, on request $2 excessive withdrawal charge for each withdrawal in excess of six (6) per calendar month, charged at the end of each statement period $3 A minimum daily balance of $250 is maintained per calendar month; waived for account holders less than 18 years old. Connected Savings Other Fees: $3 $100 minimum daily balance or with an automatic transfer of at least $25 from a Banner Bank checking account. No minimum balance requirement or service fee for children under 18 years of age. Variable interest bearing; interest compounded daily and credited quarterly Unlimited withdrawals in person or by ATM. First 6 limited 1 withdrawals/transfers per month free; there will be a $5 excessive withdrawal fee when these limits are exceeded charged at the time excessive withdrawal occurs. Overdraft protection transfer from deposit account fee of $9.00 (per day). Tiered interest rates; interest compounded quarterly and paid quarterly 8

10 SAVINGS ACCOUNTS Old Account Name Old Account Features New Account Name New Account Features Christmas Club Savings Other Fees: $0 Variable interest bearing; interest compounded quarterly and paid annually Annual check disbursement of account balance $5 annual check disbursement fee $2 excessive withdrawal charge for each withdrawal in excess of six (6) per calendar month, charged at the end of each statement period Connected Savings $3 $100 minimum daily balance or with an automatic transfer of at least $25 from a Banner Bank checking account. No minimum balance requirement or service fee for children under 18 years of age. Variable interest bearing; interest compounded daily and credited quarterly Unlimited withdrawals in person or by ATM. Other Fees: First 6 limited 1 withdrawals/transfers per month free; there will be a $5 excessive withdrawal fee when these limits are exceeded charged at the time excessive withdrawal occurs. Overdraft protection transfer from deposit account fee of $9.00 (per day). 9

11 SAVINGS ACCOUNTS Old Account Name Old Account Features New Account Name New Account Features Money Market $10 A minimum daily balance of $1,500 is maintained per calendar month Tiered interest rates; interest compounded daily and credited monthly Money Market Savings $10 A minimum daily balance of $1,000 Tiered interest rates; interest compounded daily and credited monthly Unlimited withdrawals in person or by ATM. Health Savings Account (HSA) $2 excessive withdrawal charge for each withdrawal in excess of six (6) per calendar month, charged at the end of each statement period $2.50 A minimum daily balance of $1,500 is maintained per calendar month Other Fees: Health Savings Account (HSA) First 6 limited 1 withdrawals/transfers per month free; there will be a $5 excessive withdrawal fee when these limits are exceeded charged at the time excessive withdrawal occurs. $3 A minimum daily balance of $2,500 Variable rate interest bearing; interest compounded daily and credited monthly Other Fees: Variable rate interest bearing; interest compounded daily and credited monthly Excess contribution fee: $10 Transaction Correction fee: $10 Account Closing fee: $10 1 Excessive withdrawal fee applies when the account exceeds 6 pre-authorized, automatic, electronic, ACH, telephone, online or wire withdrawals or transfers, or payment by check or debit card payable to third parties per statement period, if no more than 31 days. If statement period is quarterly, 6 pre-authorized withdrawals are allowed per calendar month. 10

12 SCHEDULE OF FEES COMPARISON Services Skagit Bank Price Banner Bank Price Account Reconciliation (per hour) $25.00/hour ($15.00 minimum) Bank-to-Bank Transfer (Online Banking) Incoming N/A (not offered) Outgoing N/A (not offered) Canadian Draft $12.00 $20.00 Cashier s Check (Client) Re-issue (if lost, additional documentation $5.00 $6.00 required) $5.00 $10.00 Check Collection (Incoming and Outgoing) Domestic $15.00 $40.00 International $15.00 $50.00 Check Images in paper statements (Monthly) Business Account $2.00 $3.00 Consumer Account $2.00 $2.00 $25.00/hour ($10.00 minimum) No Charge $2.00 ($1.00 for paper statement; $1.00 for check images) Debit Card Image Gallery Design N/A (not offered) $5.00 Debit Card Replacement After first replacement $7.50 $5.00 Rush replacement $50.00 $25.00 Deposited Item Return $5.00 $9.00 Dormant Account Fee Checking $10.00/month $5.00/month Savings $10.00/month (after 24 inactive months) $5.00/month (after 12 inactive months) Foreign Currency Exchange (non-canadian) $12.00 $25.00 Gift Card (per card) N/A (not offered) $4.00 International Draft N/A (not offered) $35.00 Levy/Garnishment $75.00 $ Money Order N/A (not offered) $

13 SCHEDULE OF FEES COMPARISON Services Skagit Bank Price Banner Bank Price Overdraft or Returned Item (per item, based on available balance) on Business Accounts $35.00, $350 daily maximum, 10 items per day (no charge for Overdraft balance under $10) $35.00 Overdraft or Returned Item (per item, based on available balance) on Consumer Accounts $5.00/business day Continuous Overdraft Charge (beginning on the 7 th business day after initial overdraft) $35.00, $210 daily maximum (no charge for Overdraft balance under $10.00) $5.00/business day Continuous Overdraft Charge (beginning on the 7th business day after initial overdraft) $30.00, $140 daily maximum for paid items; $140 daily maximum for returned items (no charge for OD balance of $5.00 or less) Overdraft Protection Transfer from Deposit Account (per $0.00 $9.00 day) Overdraft Balance Interest Rate (Business Accounts) N/A WSJ Prime % Personalized Checks Prices Vary Prices Vary Photocopy of Statement or Form 1099 $3.00 $5.00 Research (per hour) $25.00/hour ($15 minimum) $30.00/hour ($10.00/minimum) Research Items (per copy) $0.25 $2.00 Safe Deposit Box Rental Late Fee (Charged 14 days after due date) Key Replacement Drill Fee Annual rental fee varies by box size $0.00 At cost $ Annual rental fee varies by box size $5.00 $25.00 Cost Plus $50.00 Special Handling of Account (per month) $0.00 $5.00 Stop Payment $35.00 (6 month life) $35.00 (24 month life) Wire Transfer Incoming Outgoing Domestic Outgoing International Research or Tracers $15.00 $25.00 $40.00 $ $15.00 $30.00 $50.00 $25.00

14 SCHEDULE OF FEES COMPARISON Services Skagit Bank Price Banner Bank Price Zipper Bag N/A (not offered) $

Understand the Differences Between Skagit Bank and Banner Bank s Business Account Products and Fees. Member FDIC

Understand the Differences Between Skagit Bank and Banner Bank s Business Account Products and Fees Member FDIC KEY DIFFERENCES ABOUT WHICH YOU SHOULD BE AWARE The following pages contain important differences