WSFS Interest Checking Account

Regulation DD – Truth In Savings

TIERED VARIABLE RATE INFORMATION – Effective Date December 11, 2017

Range of Daily Balances Interest Rate APY
$0.01 - $9,999 0.01% 0.01%
$10,000 - $24,999 0.01% 0.01%
$25,000+ 0.03% 0.03%


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

We may change the interest rate on your account at any time.

Limitations on Rate Changes

There are no maximum or minimum interest rate limits for this account.

COMPOUNDING AND CREDITING

Interest will be compounded daily and will be credited to your account monthly.

MINIMUM BALANCE REQUIREMENTS

You must deposit $100.00 to open this account. You must maintain a minimum balance of $.01 in the account each day to obtain the disclosed annual percentage yield.

PROCESSING ORDER

Transactions are generally posted at the end of each business day in the following order. On occasion we reserve the right to change our order of posting from time to time without notice to you. The order in which we post your transactions may affect whether you incur fees for insufficient or unavailable funds.
  • First – Deposits and incoming transfer that have become available to you.
  • Second – Withdrawals (such as ATM, debit card or check transactions) from highest dollar amount to lowest dollar amount. Some fees associated with a transaction such as an ATM are posted simultaneously with the transaction.
  • Third – Fees and services charges (such as overdraft, insufficient funds, and account maintenance) are posted after all other transactions.
BALANCE COMPUTATION METHOD

We use the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principal in the account each day.

The daily balance that we use when calculating interest is the collected balance. That means we only include those funds for which we have actually received payment when we determine the balance on which interest is paid.

ACCRUAL ON NONCASH DEPOSITS

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

FEES AND CHARGES

The following fees and charges may be assessed against your account:

Fees vary by the style of check ordered.

TRANSACTION LIMITATIONS

No transaction limitations apply to this account.