Truth in Savings – Savings Account

Savings Account 08/2022
[email protected]

Mailing address:

P.O. Box 189
Claremore, OK 74018

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.

Additional Rate Information. The interest rate on your account is determined by our Investment Committee and is based on a composite of various rates and economic factors.

COMPOUNDING AND CREDITING. Interest will compound  and will be credited to your account quarterly. If you close your account before interest is credited, you will not receive accrued interest.

MINIMUM BALANCE REQUIREMENTS. You much deposit $100.00 to open this account. A minimum balance fee of $5.00 will be imposed every quarter if the daily balance on any day of the quarter falls below $25.00. You must maintain a minimum daily balance of $100.00 in the account each day to obtain the disclosed annual percentage yield.

DORMANT/INACTIVE ACCOUNT INFORMATION. A dormant account fee of $10.00 per month will be charged after 730 days of inactivity. An account is considered dormant and a dormant account fee of $10 per month will be charged when an account lists an invalid address for the primary owner and the account has been inactive for 730 days.

PROCESSING ORDER. All credits post first. Then debits are generally posted in the following transaction type order; within each transaction type, transactions post by amount order, low to high. Items with check numbers post in serial order; when a check number is not present, then posting occurs by amount order, low to high.

Debit Transaction Type Posting Order

  • ATM Withdrawals
  • Online Banking and Anytime Banker Transfers
  • On-Us Teller Cashed Checks
  • 3rd Party Cashed Checks
  • ITM Cashed Checks
  • Debit Card PIN transactions
  • Debit Card POS Signature transactions
  • Debit Card Recurring transactions
  • ACH Debits
  • ITM Checks Deposited at RCB Bank
  • On Us Checks Deposited at RCB Bank
  • Checks Deposited at another institution

*This is not an all-inclusive list. These are the most common types of transactions and may not include transactions used less frequently. If you have any questions, please contact us at (855) 226-5722.

**Serial Order – Chronological order of the serial number. (i.e. check number 1001 will post before check number 1007 if both are received on the same day within the same group listed above.) The processing order of these items is important because if there is not enough money in the account to pay for the items in the order they are processed in accordance with the processing order, there may be an overdraft on your account which may result in overdraft or non-sufficient funds fees or an increase in the amount of these fees.

OVERDRAFT PROTECTION. An overdraft on your account occurs when you do not have sufficient funds in your account to cover items such as a traditional paper check, a teller withdrawal, an automatic payment (ACH) transaction or a recurring debit payment. Bounce Protection is not offered on this Account.

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 daily 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).

TRANSACTION LIMITATIONS. You may make 9 withdrawal(s) from your account every quarter. If you exceed nine (9) withdrawals in your quarterly statement cycle, a per item fee of $10.00 will be charged on each additional transaction, beginning with the 10th transaction. You will be notified of service charges in your quarterly statement.

The common transactions that will produce a charge after the 9th transaction in a quarterly statement cycle are as follows: Savings, Withdrawals, Reoccurring debits card transactions, ACH Debits, Checking Withdrawals, In Person Transfer Debit, Reserve Sweep to DDA, and Non Sufficient Items Paid. This is not an all inclusive list.


Internal Revenue Service requires us to include the value of gifts when reporting interest income. (From 1099-INT) for this account.

NEGATIVE REPORTING TO CREDIT BUREAUS. We may report information about your account to credit bureaus. Late payments, missed payments, or other defaults on your account may be reflected in your credit report.

STATEMENT DELIVERY. We will provide an electronic (eStatement) on your account at no charge each quarter. If a paper statement is requested, a paper statement fee will be assessed to your account.

ACCOUNT CLOSURE. Please see the Deposit Agreement for specific account closure terms and conditions. RCB Bank will consider your account closed when the account balance has been at zero ($0.00) for seven (7) consecutive days. Removing all funds from the account may result in accidental closure.

CURRENT RATE INFORMATION. To obtain the current rate(s) and annual percentage yield information, please call 1-855-226-5722.

FEES AND CHARGES. Please refer to the separate Fee Schedule provided to you for information about fees and charges associated with this account. A Fee Schedule will be provided to you at the time you open an account, periodically when fees or charges change, and upon request.