Member Business Accounts and Fee Schedule | SRP Federal Credit Union

Member Business Accounts and Fee Schedule

Effective -3/1/2017

Business Share Savings Account
Par value of a Membership Share $0.01
Minimum Opening Deposit $0.01
Dividend period Monthly
Variable Rate Dividend Compounded monthly and credited monthly
Dividend Rate May change daily
Minimum balance required to earn Annual Percentage Yield None
In-person withdrawals per month Three free per month
Monthly electronic statement Free
Online account access – SRP Online and SRP Mobile Free
24 hour audio response system – TYME Line Free
business Term Share Certificate

Minimum deposit to open and earn Annual Percentage Yield $500.00
Rate for term of Share Certificate Fixed
Dividend periods Compounded and credited
Renewal at prevailing rate for new term Automatic
Grace period for withdrawal at maturity on Share Certificates with terms 3 months or more 10 days
Early withdrawal on Share Certificates with a term of 1 year or less 90 day penalty 
Early withdrawal on Share Certificates with a term of more than 1 year 180 day penalty
business Checking – share Draft Account
Non interest bearing account No dividends
Minimum deposit to open share draft account $100.00
Monthly electronic statements Free
Monthly maintenance fee $5.00
Monthly activity fee – 250 free debits processed per monthly statement cycle Additional debits processed $0.50 each
Monthly activity fee – 500 free items deposited per monthly statement cycle Additional items deposited $0.50 each
Minimum balance on last business day to avoid Maintenance Fee and Activity Fees $5,000.00
Aggregate business loans balance to avoid Maintenance Fee and Activity Fees $100,000.00
Monthly Electronic Statements Free
Online account access – SRP Online and SRP Mobile Free
24 hour audio response system – TYME Line Free
many-sided Fees
Paper Statement Mailed $2.00
Check Order Fees Price varies depending on style
Cash Deposit Fee per $100 currency/coin deposited (over $10,000 per month) $0.25
Cash Order Fee $0.10 per roll of coin
$0.50 per strap of currency
Coin Collecting Machine Usage 5% of coin counted
Collection Item Fee $40.00
Statement copies (per statement) $2.00
Account Printout $2.00
Stop Payment Order Fee (per check, bill payment, or item) $35.00
Non-Sufficient Funds Fee (per item) $35.00
Non-Sufficient Funds Bill Payment Fee $35.00
Overdraft Privilege Fee (per item paid) $35.00*
Overdraft Protection Transfer Fee from Savings Account (per transfer) $2.00**
Copy of Cleared Check Fee (per check) $1.00
Photo Copy of Bill Payer Payment $3.00
Research Services Fee per hour $25.00
Excessive Savings Transaction Fee (over three per month per withdrawal) $3.00
Returned Item Fee (items deposited, returned unpaid) $10.00
Check Cashing Fee (if applicable) $3.00
Account Reopen Fee (accounts voluntarily or involuntarily closed within 12 months) $10.00
Guaranteed Funds Check $5.00
Non-member Guaranteed Funds Check $10.00
Gift Card Purchase Fee (per card) $3.00
Closed, Lost, or Stolen Gift Card Replacement per card $10.00
Gift Card Maintenance Fee (monthly beginning thirteenth month after twelve months of non-use and will occur each month until transaction activity resumes or the available balance is zero) $5.00
Safe Deposit Boxes (annual) $22.00 to $80.00
Wire Transfer Fee (outgoing or incoming) $20.00
Legal Process (tax, levies, garnishments, etc.) $50.00 per occurrence
Inactivity Fee (60 months without activity) $50.00 per member
Incorrect Address Fee (Charged beginning at the end of the month following US Post Office notification of incorrect address) $5.00 monthly
Counter Check Fee (sold in four-check increments)(Fee assessed after initial supply of counter checks issued) $2.00
Tamper Proof Night Depository Plastic Bags (an initial supply of 50 bags at account opening – free) $25.00 for 100 bags
Night Depository Key (2 keys issued at account opening – free) $10.00 for a lost or additional key
Business Check Card Transaction Fee (non SRPFCU ATM) $1.00
Paid Business Check Card Receipt Copy $5.00
Business Check Card International Service Assessment Fee 1% of converted transaction amount
ATM Withdrawal Limits with a Visa Business Check Card (from ATM or a PIN Based point of sale cash back transaction) $500 Daily
Visa Business Check Card Limit $3,000 Daily

*Fee is assessed on the sum of the negative balance change, after the item is posted. If the minus account balance change :
-Is less than or equal to $ 4.99 … … … … … … … … … … … … … … … … $ 2.00 tip per detail paid
-Is between $ 5.00 and $ 9.99 … … … … … … … … … … … … … … … … $ 10.00 tip per item paid
-Is between $ 10.00 and $ 19.99 … … … … … … … … … … … … … … .. $ 20.00 fee per detail paid
-Is between $ 20.00 and $ 29.99 … … … … … … … … … … … … … … .. $ 30.00 fee per detail paid
-Is greater than or equal to $ 30.00 … … … … … … … … … … … … … $ 35.00 fee per item paid
**Fee is imposed for overdrafts created by checks, in-person withdrawals, ATM withdrawals or by other electronic means.

Credits To Accounts For Member Deposits And Business Day Disclosure

The Credit Union’s daily cut-off time: All deposits or transactions received after the time we close for occupation on a sidereal day when we are afford or received after we open our night depository, or received on a day on which we are closed for occupation, will be treated as if received on the following commercial enterprise day that we are open unless differently disclosed at depository.

The Credit Union’s daily cut-off time for Uniform Commercial Code Funds Transfers: Any dollar amount may be transferred on Monday, Tuesday, Thursday, or Friday, until 4:00pm or Wednesday until 11:00am on a commercial enterprise sidereal day. Any request for a transfer after this time will be processed on the future business day we are open.

The Credit Union’s business day disclosure: Our commercial enterprise days are Monday through Friday, excluding holidays. Our night depository is opened at 8:30am daily. Deposits made after 8:30am or on a day we are not outdoors will be processed on the adjacent business day unless differently disclosed at the depository.

Stop Payment Orders: The Credit Union will not be obligated to take any action on a valid and appropriate Stop Payment Order until after recorded on your explanation. you may notify us by chain mail, call, electronically, or in person. Any such instruction must be given to a teller, member service example, or branch coach of the Credit Union. A SPO will not be valid and binding on us unless your SPO includes your bill number, the number and date of the written instrument, the name ( sulfur ) of the payee ( randomness ), and the demand sum of the instrument. ( extra SPO information is disclosed in the Business Membership Agreement )

Electronic Funds Transfer Services: Limitations, Fees, and Other Important Information

transaction Limits
daily ATM Withdrawal Limits ( from an ATM or a PIN-based point-of-sale cash back transaction with your Business Check Card ) $500 per day
casual Visa Business Check Card Point of Sale ( POS ) limit $3,000 per day
day by day Cumulative Limit ( Check Card and ATM withdrawals ) $3,500 per day

Networks Available for EFT Transactions: PLUS, STAR, CIRRUS/MasterCard, American Express, Visa Net, EBT ( all states )
Note: The owners of non-Credit Union ATM ‘s may charge fees, and any such fee will be paid from your account. These fees are broadly called a surcharge.
Online Transaction Processing: Generally it will take 2 – 5 days to process a transaction.

Canceling a Bill payment Transaction and Your Stop Payment Right: Once you have setup a bill requital, you can delete the payment, revise the sum, or the due date until the payment is showing processed. Once the payment is in the march status, you must contact the Credit Union at ( 803 ) 278-4851 during regular clientele hours to make these changes. After business hours you may contact a representative for the Credit Union at 1-888-289-9097, Monday – Friday, between 7:30am EST and 2:30am EST. There is a fee for stopping payment after the payment has been processed. Payments are typically moved to a processed status at or about 3:00pm eastern time 1 – 5 days prior to the date you schedule in the Bill Payment system as the Deliver By date.

Stop payments and reissues for check payments will be accepted beginning five ( 5 ) clientele days after the go steady the requital work began. In situations where it is apparent the requital is going or has gone to the improper address, incorrect payee, etc., we will accept stops and reissues immediately. electronic payments can not be stopped. The stop requital tip will be applied whenever any bill requital that is not cleared. The blockage fee will not be assessed if the payment is stopped by us due to a serve error, the payment was not posted by the payee even though the payee address was correctly submitted by you, or if the requital check was lost in the mail.

Inquiries, Questions or Reporting Lost or Stolen Cards, PINS, etc.: Telephone or write to us at SRP Federal Credit Union, PO Box 6730, North Augusta, SC 29861, ( 803 ) 278-4851 or Toll Free ( 800 ) 237-9829. Call ( 888 ) 289-9097 for Online Bill Payment trace and inquires.

After business hours call the appropriate price free phone number listed below :

  • (866) 559-4717 to report a lost or stolen Visa Debit Card
  • (800) 991-4964 to report a lost or stolen Visa Credit Card

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