Business High-Yield Savings Account Agreement

The following pages contain key disclosures and current interest rates applicable to your Business Savings Account. Additional terms and conditions governing your Business Savings Account are attached (the “Business Savings Account Terms”). Together, these two documents constitute the Agreement, as defined herein.  Please read all sections of this Agreement carefully.
‍

‍

1. Interest Rate Information. The Business Savings Account is a variable rate account. The current interest rate and Annual Percentage Yield (“APY”) are set forth in the following interest rate table. If your average daily balance is equal to or greater than $500 (the “Enhanced Rate Minimum Balance”) or more, you are eligible to receive a higher APY as described below. We may, at our discretion, change the interest rate and APY for the Business Savings Account at any time without notice to you. The current APY will always be available through the Branch App.
   
   If your average daily balance for the month is less than $500, the interest rate paid on the entire balance will be 0.995% with an annual percentage yield of 1.00% (the “Standard Interest Rate”). If your average daily balance for the month is $500 or more, the interest rate paid on the entire balance in your account will be 2.956% with an annual percentage yield of 3.00% (the “Enhanced Interest Rate”). The interest you earn in the previous month will be credited to your Business Savings Account by no later than the third business day of the calendar month following the month in which the interest accrued.
   ‍
2. Opening Deposit and Balance Requirements. There is no minimum deposit requirement to open a Business Savings Account. There are no minimum or maximum balance requirements. See Section F for additional information.
   ‍
3. Transaction Limitations. You may only transfer funds between your Business Savings Account and Business Deposit Account. Deposits to your Business Savings Account and withdrawals from your Business Savings Account may only be made by making online transfers from or to your Business Deposit Account by using the Service Provider Platform. There are no limits to the number of online transfers or the amount of online transfers between your Business Savings Account and Business Deposit Account. Transfers you make to and from your Business Savings Account may be subject to limitations based on confidential fraud and risk criteria that are essential to our management of risk and the protection of you and the integrity of the service and all accounts, and may be modified at our sole discretion without advance notice.
   ‍
4. Balance Information. Interest on your Business Savings Account is calculated using the average daily balance method. This method applies a periodic rate to the average daily balance in your Business Savings Account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. There are no minimum or maximum balance restrictions on the Business Savings Account. However, you must maintain a minimum average daily balance equal to or greater than the Enhanced Rate Minimum Balance for the entire month to obtain the Enhanced Interest Rate.
   ‍
5. Funds Availability. Transfers between your Business Savings Account and your Business Deposit Account are completed electronically and funds are generally available immediately upon completion of the transfer. You will have immediate availability to your funds once they are transferred from the Business Savings Account to your Business Deposit Account or from the Business Deposit Account to the Business Savings Account. Interest will begin to accrue on deposits as described in Section D, even during any applicable hold period.
   ‍
6. Effect of Closure on Accrued Interest. If your Business Savings Account is closed before interest is credited, you will not receive the accrued interest.