1. Overview
This Truth in Savings Disclosure is provided in accordance with the federal Truth in Savings Act and Regulation DD (12 CFR Part 1030). It is published in advance of any offer of an interest-bearing account so that customers have access to the rate, fee, and term framework that would apply at the time such an account is offered.
The current ITAM consumer account is a non-interest-bearing transaction account. The rate sections of this Disclosure do not apply to that account. Fee information remains applicable and is also set out in the Fee Schedule.
2. Rate information
Reserved. Not currently in effect — see Section 1.
If and when an interest-bearing ITAM account is offered (whether by PayServices Bank or by an affiliate or other bank on the PayServices Network), the interest rate and Annual Percentage Yield ("APY") would be tiered based on the customer's average daily balance. The table below shows the indicative ranges that would apply to such a product and is provided for informational purposes only.
| Tier | Average Daily Balance | Indicative Interest Rate | Indicative APY |
|---|---|---|---|
| 1 | Less than $10,000 | 0.25% – 1.00% | 0.25% – 1.00% |
| 2 | $10,000 – $99,999.99 | 0.75% – 2.00% | 0.75% – 2.02% |
| 3 | $100,000 and above | 1.25% – 3.00% | 1.26% – 3.04% |
If an interest-bearing account were offered, the interest rate and APY applicable to that account at any given time would be paid on the entire balance in the account at that tier.
Determination of Rate. Subject to any locked rate established at account opening or offer acceptance, prospective interest rates may be changed in our discretion and consistent with applicable law, upon prior notice as required by law.
Frequency of rate changes. Prospective rate changes (i.e., changes that affect future interest accruals after notice) may be made from time to time.
Limitations on rate changes. There are no maximum or minimum interest-rate limits, other than as established in any rate confirmation provided at account opening or offer acceptance.
3. Compounding and crediting
Reserved. Not currently in effect — see Section 1.
If an interest-bearing account is offered in the future, interest would be compounded daily and credited to the account monthly on the last business day of each statement cycle. If the account is closed before interest is credited, accrued interest would not be paid.
4. Balance computation method
Reserved. Not currently in effect — see Section 1.
Where applicable, interest would be calculated using the average daily balance method. This method applies a periodic rate to the average daily balance in the account for the statement period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
5. Accrual on noncash deposits
Reserved. Not currently in effect — see Section 1.
Where applicable, interest would begin to accrue on the business day a non-cash item is deposited (for example, an incoming wire or ACH credit).
6. Minimum balance requirements
Reserved. Not currently in effect — see Section 1.
Where an interest-bearing account is offered, no minimum balance would be required to open or maintain the account, and no minimum balance would be required to obtain the disclosed APY.
7. Transaction limitations
No transaction limitations apply to standard ITAM consumer accounts beyond the security and compliance limits described in the Electronic Fund Transfer Disclosure and the Terms of Service.
8. Fees
Fees that may be assessed against your account are set out in the Fee Schedule. The Fee Schedule is incorporated by reference into this Disclosure.
Standard transaction fees on the PayServices Network are: P2P free, B2P free, P2B 1%, B2B 1%. For purposes of this Schedule, "Business" includes any commercial entity, sole proprietorship, partnership, corporation, government, public-sector body, or state-owned enterprise acting in its commercial or institutional capacity.
9. Processing order
All credit transactions are processed first. Debits, or withdrawals, will be processed in the order received. Real-time transfers on the PayServices Network are processed continuously and in the order received.
10. Contact us
PayServices Bank
950 W Bannock Street, Suite 1100
Boise, Idaho 83702-6140
United States
info@payservices.com