Evolve Bank and Trust is our banking partner, otherwise known as our Deposit Sponsor. Your money is securely held at this institution and covered by their FDIC insurance coverage.See All Documents
Evolve: Truth In Savings
In short, there are no monthly fees associated with your deposit accounts. We want to give everyone access to banking, no matter how large or small the account balance.
Below is a summary of the fees and features associated with the following account types:
Minimum Deposit Needed to Open Account
Monthly Service Charge (Monthly Fee)
Requirements to Waive Monthly Service Charge
Dormant Account Fee
† If no transactions have been made and your account balance is zero, you will receive statements quarterly. In some circumstances your statement may be delivered by Platform or Synapse, your banking concierge and a service provider for Evolve Bank.
How Interest Is Calculated
There is no minimum balance required to earn interest on this account. The daily balance method is used to calculate the interest on the account. This method applies a daily periodic rate to the daily collected balance in the account each day. Interest on deposits begins to accrue no later than the business day on which we receive credit for the deposit. Accrued interest is credited to the balance in the account on the first business day of the following statement cycle. Accrued interest that is credited to the balance in the account begins to earn interest no later than the next business day and compounds with each statement cycle. If you close your account or convert your account to a non-interest earning account before accrued interest, if any, is credited, you will not receive the accrued interest. A taxpayer identification number will be required to earn interest on this account.
Interest Rate and Annual Percentage Yield
The chart below shows the interest rate and annual percentage yield applicable to the Evolve Bank account effective as of August 30, 2017 Rates are variable and are subject to change at our discretion. We may change the interest rate for your account at any time. If you have any questions, please message us on Platform Website or email us at firstname.lastname@example.org.
Annual Percentage Yield
ATM FEES CHARGED BY EVOLVE BANK (CARDS ARE NOT AVAILABLE FOR YOUR ACCOUNT)
For using an ATM in Evolve Bank ATM network
For using an ATM outside of Evolve Bank Compass’ ATM network†
† ATM and/or service fees charged by other banks and ATM owners still may also apply.
CHECK FEES CHARGED BY EVOLVE BANK (CHECKS ARE NOT AVAILABLE FOR YOUR ACCOUNT)
OTHER FEES AND FEATURES†
Insufficient Funds (NSF) Charge - Returned Item
Extended Overdraft Penalty Fee
Deposited Item Returned Fee
Stop Payment Fee
Transfer between Evolve Accounts
$0.05 to 0.25†
ACH Debit or Credit to Account
$0.05 to 0.25†
Wire Transfer Fee (Domestic)
$2.00 to $15.00†
Wire Transfer Fee (International)
Account Closing Fee
Dormant Account Fee
Other Service Fees
Debit and Credit Card Issuance
Card Overdraft Protection
Replacement Card Fee
† ACH, wire and intra-Evolve Bank transactions fees are subtracted from the transaction total. Platform may charge additional transaction fees or other fees associate with the services provided to you as provided to you in your agreement with Platform. In some circumstances, Platform pay for transaction fees and other fees associated with your Account. You should refer to your agreement with Platform to understand how fees are charged.
Dispute Resolution Agreement
If a dispute arises between us, either party may require the dispute be resolved through arbitration, rather than through jury trial. Please see the arbitration and waiver of jury trial provisions in your Evolve Bank Deposit Account Agreement for additional details.
APPLICABLE FEES AND SERVICE CHARGES
Your account will be subject to the terms and conditions applicable to Evolve Bank accounts in the state where we maintain your account. For purposes of this disclosure and your Platform account opened electronically, your account will be deemed to be maintained in the state of Tennessee. For additional terms governing your account, please consult the Evolve Bank Deposit Account Agreement.
We reserve the right to change terms, conditions, and/or pricing of our products upon reasonable prior notification.
Evolve Bank is short for Evolve Bank & Trust, Member FDIC and a subsidiary of Evolve Bancorp, Inc..
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