business Product & Service Comparison

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Edmund Austin
5 years ago
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1 business Product & Service Comparison This business product & service comparison is to be used as a tool to identify what changes to services and products will be made when Capital Bank converts to Royal Credit Union. This is meant to partner with the disclosures and special service fees disclosure. More detailed information about some of the new and existing products will be mailed out in the next few weeks. Please watch your mailbox! Learn More Services Checking Money Market...5 Savings & CDs...6 Loans...7

2 Services Service Changes Multiple statements per month Royal will only send one statement per month or quarter depending on which products you have. Billing Statements Royal will send out monthly billing statements for commercial loans not set up on automatic payments. Notification for draw sources and non-sufficient funds (NSF) Royal does not automatically send notifications, and they do not send out paper notices for NSFs. Members can set up Alerts (text messaging and alerts) through online banking and business online banking. Returned checks in statements Paper checks will no longer be sent with your statement. Check images can be viewed electronically at no charge through business online banking and online banking. Traveler s Checks Royal does not sell Traveler s Checks. Viewing pending items and safe deposit box accounts in online banking Currently, business online banking and online banking does not show pending items (such as checks about to clear, or direct deposit) nor safe deposit box accounts. Online banking Personal online banking is for consumer accounts, sole proprietors, estates, and trusts. All other business entities or business types use business online banking. New Services Offered *Details about new products will be mailed out in a few weeks. Debit Chip Cards Combined Statements CompuTeller Courtesy Pay Debit Card Coverage HSA - Health Savings Account Mobile Banking - App Second Look Shared Branching Travel Memos Business Deposit Commercial Rewards Visa Merchant Services Services at Royal Account Activity Printout Account Closure Amortization Schedule ATM Withdrawals ATM/Debit Card ATM/Debit Card Replacement Bill Pay* Check Stop Payment Copies of Checks & Deposits Copy of Statement Money Orders Photocopies Statements *Additional fees for special situations. See Special Service Fees disclosure. 2

3 Services Service Charge Changes Account Research and Balancing ATM/Debit Card International Fee Check Cashing - Non-Member Deposit Item Return Charge Dormant Account Fee Levy/Garnishments Non Sufficient Funds (NSF) Overdraft Fee Prepaid Visa Wires Safe Deposit Box Annual Fee 3 x5 x22 3 x10 x22 5 x5 x22 5 x10 x22 10 x10 x22 Safe Deposit Box Drilling Safe Deposit Key Replacement Capital $45 per hour 1% of Transaction $5 fee for checks under $500 $5 fee for checks over $500 $4 $5 per month if dormant more than one year $50 with a maximum of $120 a day in combination with Overdraft Fee $5 per card $2.95 monthly inactivity fee, beginning on the 13th month Outgoing Domestic Fee: $25 Outgoing International Fee: $45 Incoming Fee: $20 - $80 $50 - $60 - $50 $75 - $85 $110 - $120 $250 $25 Royal $25 per hour ($10 minimum) up to 2% of transaction, currently at 1% $3 fee per $100 Inactive fees are $1 per month on accounts with a balance of $25 or below that have no other services with Royal. $25 NSF/ Uncollected Funds (UCF); No maximum $2.50 per card $4.95 monthly inactivity fee, beginning on the 13th month Outgoing Domestic Fee: $15 Outgoing International Fee: $35 Incoming: $20 $40 $50 $85 Ask for current cost 3

4 checking Small Business Checking Account Minimum Balance to Open Monthly Fee Withdrawal Item Fee Deposit Item Fee Small Business Checking $100 $8 20 free, then $0.25 per item per statement cycle 20 free, then $0.25 per item per statement cycle Royal Advantage No Minimum See below 300 combined checks deposited and written free per month, then $.10 per item Checking Fees Statements Bill Pay Continuous Overdraft Fee Return Item Fee for NSF Maximum Fees per day Dormant Account Fee Debit Card ATM Withdrawals Capital $1 per month for mailed statements $5 if less than three transactions are conducted each month $25 every 5 business days of consecutive overdraft Four items $5 per month if dormant for more than one year $1 Per Month $2 per ATM transaction at any terminal other than an Instant Cash Terminal Royal (check images available in business online banking) None No Maximum Inactive fees are $1 per month on accounts with a balance of $25 or below that have no other services with Royal (ATM servicer may still charge a processing fee.) 4

5 checking & money market Business Checking Account Minimum Balance to Open Monthly Fee Interest Rate Account Fees Per check/debit Per deposit/credit Per check deposited Business Checking $100 $15 Earning Credit - offsets charges and reduces service charge $0.15 per item $0.30 per item $0.05 On Us item $0.08 Local item $0.10 transit item Royal Advantage No Minimum None, but if you wish to earn dividends we offer the Royal Advantage Plus account 300 combined checks deposited and written free per month, then $.10 per item Business Money Market Minimum Balance to Open Monthly Fee Interest Rate Deposits Withdrawals Checks Capital Money Market $2,500 $10 if balance falls below $2, % APY (Less than $10,000) 0.10% APY ($10,000 - $24,999) 0.20% APY ($25,000 - $74,999) 0.30% APY (More than $75,000) Unlimited Limit of six preauthorized withdrawals or transfers per month. No dollar limit. Fees based on check style Business Money Market Account $10, % APY (Less than $10,000) 0.58% APY ($10,000 - $24,999) 0.68% APY ($25,000 - $99,999) 0.73% APY (More than $100,000) Unlimited, Minimum $100 Limit of six preauthorized withdrawals or transfers per month. Minimum $250. No limit to over the counter withdrawals. APY = Annual Percentage Yield Rates are subject to change. Rates effective 7/17/16 5

6 savings & cds Business Savings Account Minimum Balance Monthly Fee Interest Rate ATM Card Withdrawal Item Fee Minimum to Open Capital Savings $0.01 If balance falls below $50, a $3 maintenance fee is charged 0.05% APY $1 per month $2 for each in-person withdrawal in excess of 12 during a quarterly statement cycle, or in excess of 4 during a monthly statement $5 for 22 and under $50 for 23 and older Business Savings $5 0.53% APY $5 for Business Savings No minimum for secondary savings APY = Annual Percentage Yield Rates are subject to change. Rates effective 7/17/16 CDs (Credit Unions refer to them as Certificates) Capital 182 Days 12 Months ($500 minimum) 12 Months ($5,000 minimum) Jumbo Non IRA 30 Months 60 Months Certificate Information Business Certificate Business 6 Month Certificate Business 1 Year Certificate Business 1 Year Certificate Business 1 Year Certificate Business 30 Month Certificate Business 4 Year Certificate Current Royal Rates APY 0.85% 1.06% 1.06% 1.06% 1.51% 1.76% After a Capital CD reaches maturity, it will auto-renew into the Royal certificate identified above. Upon maturity, Royal offers a 10-day grace period when a certificate may be cashed out without penalty. This chart shows which certificates the CD will convert to. APY = Annual Percentage Yield Rates are subject to change. Rates effective 7/17/16 6

7 loans Ready Reserve Statements Payment Type Payment date Capital Ready Reserve Ready Reserve loans receive a monthly billing statement with a portion to tear off for payment remittance. Interest plus 3% of balance with a $25 minimum. Varies Royal Kwik Cash Loan and payment information will be included on the combined statement. Interest plus 3% of balance with a $20 minimum. Due on the 26th of the month Commercial Loans Any commercial loans converting to Royal will maintain the same rate, payment, and terms. You will receive further notification at a later date. 7

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Personal Product & Service Comparison

Personal Product & Service Comparison This personal product & service comparison is to be used as a tool to identify what changes to products and services will be made when Capital Bank converts to Royal