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Growth Business Savings Basic Terms and Conditions

Account Opening and Usage

Minimum Amount to Open the Account

You must deposit $100.00 to open the account.

Monthly Maintenance Fee

$10.00

Monthly Paper Statement Fee

$5.00

Maintenance Fee Waivers

You must maintain a balance of $1,000.00 or greater everyday of the month to avoid the $10.00 monthly maintenance fee.

Statement Fee Waivers

If you sign up for estatements, the paper statement fee will be waived. You will not see this fee waived until your first full month of receiving estatements.

Overdraft – Paid Item Fee*

$35.00 per item – for items greater than $5.00
$5.00 per item – for items $5.00 or less

Nonsufficient Funds (NSF) – Returned Item Fee*

$35.00 per item – for items greater than $5.00
$5.00 per item – for items $5.00 or less

Continuous Overdraft Fee

$30.00 after the 5th business day of having an overdrawn account and each consecutive 5 business day period the account is overdrawn.

Account Closure Fee

$15.00 if account is closed within 6 months.

Stop Payment Fee

$25.00 per item – You may stop a payment by notifying us one business day prior to the day the item is presented to the bank for payment. You will not be required to sign a stop payment form; however, you will be sent a notice to verify the accuracy of this stop payment. You should review the notice immediately and if there are any inaccuracies please contact us at the number on the notice.

*Overdraft and Nonsufficient fund fees apply to overdrafts created by check, in-person withdrawal, electronic debit, or other electronic means.

Interest and Annual Percentage Yield Information

Interest Rate and Annual Percentage Yield (APY)*

$0 – $9,999.99: .02 Interest Rate and .02% APY

$10,000.00 – $49,999.99: .03 Interest Rate and .03% APY

$50,000 and greater: .04 Interest Rate and .04% APY

*This interest rate and annual percentage yield noted above are accurate as of 08/20/2020

If you would like more current interest rate and yield information please call provided below.

Interest Rate Determination

Variable Rate – 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 Changes

Your rate may change daily.

Frequency of Compounding and Crediting Interest

Monthly

Effect of Closing the Account

If you close your account before interest is credited to the account, you will not receive the accrued interest.

Balance Computation Method for Interest Calculation

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.

Accrual of Interest on Non-Cash Deposits

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

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

Limitations and Additional Terms

Transaction Limitations

During any statement cycle you may not make more than 6 withdrawals or transfers to another account of yours or to a third party by means of a preauthorized or automatic transfer or telephone order or instruction, computer transfer, or by check, draft, debit card or similar order to a third party. You can make unlimited in-person and ATM withdrawals with no bank fee assessed. Non-Sunrise Banks ATMs may charge you with a withdrawal fee at the time of the transaction. Click here for a listing of Sunrise Banks ATMs.

Additional Service Charges

Per Debit Transaction Fee – If you exceed 6 withdrawals or transfers to another account of your or to a third party by means of a preauthorized or automatic transfer or telephone order or instruction, computer transfer, or by check, draft, debit card or similar order to a third party you will be charged $1 per withdrawal or transfer in excess of 6 per statement cycle.

Contact Sunrise Banks

(651) 265-5600

200 University Avenue West
St. Paul, MN 55103

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