Applies to accounts (primary owner is 18 or older) that are inactive for 6 months, with a cumulative balance less than $500 and no active loans, IRAs, safe deposit boxes or certificates.
The monthly fee is $5 and is deducted on the last day of each month.
How to avoid this monthly fee?
- Maintain a cumulative balance of $500 or more at all times; or
- Perform a transaction (deposit or withdrawal) at least once every six months - dividend deposits and service fees are NOT considered a transaction for the inactive account fee. Helpful Hint! Set a reminder in your calendar to do a transaction every few months or schedule a recurring transfer each month between your active share accounts.
Important Note! If the account remains inactive, the fee will continue to be assessed each month and will automatically close the account once the account balance reaches zero.