Rates

Interest rates may change at any time after the account is opened. Fees may reduce earnings on accounts.

1. The Swell Cash account has a special feature that pays a higher interest rate (Reward Interest Rate) and APY on Tier 1 balances if you meet BOTH of the following transaction requirements during the calendar month:

   • 10 or more debit card transactions (point of-sale purchases) post to your account during the month totaling $75 or more (ATM transactions do not qualify); and
   • A qualified direct deposit is credited to your account during the month. A qualified direct deposit is a recurring electronic deposit of paychecks, Social Security benefits, or other regularly scheduled income payments of $500 or more (transfers from one account to another do not qualify).
   • When you meet all the transaction requirements, depending on your account balance, two different interest rates and APYs could be paid on your account during the month. The tiered interest rates and APYs shown above will be paid only on that portion of your balance that is within the tier range. If your account does not meet all the transaction requirements for the tiered rates, the Standard Rate Tier noted above will apply to your entire balance.
     
     

2. This is the average daily balance (i.e., the amount of principal in the account each day).

3. The APYs shown are for representative balances of $20,000.01 and $100,000. The APY decreases for larger balances because more interest is earned at the lower interest rate. Specifically, if you meet all the transaction requirements above during a calendar month, an APY of 1.25% would apply to account balances between $0 and $20,000. For account balances in excess of $20,000:

• • • • An APY of 1.25% would apply to the first $20,000 of the total account balance; and

      • An APY of 0.45% would apply to any portion of the account balance in excess of $20,000 (i.e., is equal to or greater than $20,000.01).