Fulton Bank Deposit Account Agreement: An Overview
As a financial institution, Fulton Bank offers various deposit account options to its customers. Before opening an account, it`s essential to be familiar with the terms and conditions outlined in the Fulton Bank Deposit Account Agreement. This article will provide an overview of what you need to know.
What is a Deposit Account Agreement?
A deposit account agreement is a legally binding contract between a bank and its customer. It outlines the terms and conditions of the deposit account, including the balance requirements, fees, transaction limits, and other details. It`s essential to read and understand the agreement before opening a deposit account to avoid any confusion or surprises down the line.
Fulton Bank Deposit Account Agreement
Fulton Bank offers different types of deposit accounts, including checking accounts, savings accounts, money market accounts, and certificates of deposit (CDs). The deposit account agreement for each type of account may vary slightly, but they all include similar provisions.
For example, the agreement outlines the minimum balance requirements, fees, and penalties for each account. It also states that the bank may change the terms of the agreement at any time with prior notice to the customer.
The agreement also covers the bank`s responsibilities, such as protecting customers` deposits and providing accurate account statements. It also outlines the customer`s responsibilities, such as keeping their account information up to date and monitoring their account for errors or unauthorized transactions.
Fees and Charges
Fulton Bank charges various fees for its deposit accounts, including monthly maintenance fees, overdraft fees, and ATM fees. The fees and charges vary depending on the account type and the customer`s usage.
For example, the checking account maintenance fee ranges from $10 to $20 per month, depending on the account type and balance requirement. The savings account maintenance fee is waived if the balance requirement is met, but there may still be transaction fees for exceeding the transaction limit.
It`s essential to review the fee schedule in the deposit account agreement to understand the charges and avoid unnecessary fees.
Conclusion
The Fulton Bank Deposit Account Agreement is an essential document that outlines the terms and conditions of the bank`s deposit accounts. It`s essential to read and understand the agreement before opening an account to avoid any confusion or surprises down the line. Be sure to review the fee schedule and understand the minimum balance requirements, transaction limits, and other provisions to make the most of your deposit account.