Williamsburg First National Bank

We have tiered interest rates so the higher your balance,

the higher your interest rate and return!

Minimum balance to open the account – You must deposit a $1000.00 to open this account.
Minimum balance to avoid imposition of fees- A maintenance fee of $10.00 will be imposed every statement cycle if the balance in the account falls below $1,000.00 any day of the cycle.
Rate Information – Your interest rate and annual percentage yield may change.
Frequency of rate changes- We may change the interest rate on your account at any time.
Determination of rate- At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency – Interest will be compounded every month. Interest will be credited to your account every month.
Early account closure – A fee of $15.00 will be imposed if you close your account within 90 days of opening
Daily 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.
Accrual of interest 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)
Transaction limitations:
Transfers from a Money Market account to another account or to third parties by preauthorized, automatic, telephone or computer transfer are limited to six per statement cycle with no more than three by check, draft, or similar order to third parties.

Fees:
• An excessive withdrawal fee of $20.00 per item will be charged if any of the above limitations are exceeded.
• A per item charge fee of $.25 will be charged for each debit transaction (withdrawal, check paid automatic transfer or payment out of this account). This fee will apply if the minimum daily balance of $1,000.00 is not maintained.
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