Our savings accounts You could make your money grow through our current range of savings accounts Get a head start on your future Start saving today
Our savings account offers benefits and rewards made to help you hit goals faster, along with access to USA's bank broad network of support
Qualifying clients can enjoy benefits and rewards on everyday banking, from interest rate boosters to waivers on certain services
Enroll in Keep the Change® to round up debit card purchases and deposit the difference into savings automatically.
Qualifying clients can enjoy benefits and rewards on everyday banking, from interest rate boosters to waivers on certain services
As your account balance grows, your interest rate has the potential to increase too
| Monthly Fee | Required Opening Deposit | Withdrawal Limit Fee |
|---|---|---|
| No monthly maintenance fee for each statement cycle that you: Maintain a minimum daily balance of at least $500 |
$100 | Make a total of 6 transfers and withdrawals each monthly statement cycle with no Withdrawal Limit Fee. A $10 fee applies for each withdrawal or transfer exceeding 6 in a monthly statement cycle |
| When you are a Bank of Capital Wave Trust Preferred Rewards client (waiver applies to first 4 checking and savings accounts) | Other limits apply to certain types of withdrawals and transfers |
| Account Balance | Standard Annual Percentage Yield (APY) |
|---|---|
| Less than $2,500 | 0.03% |
| $2,500 and over | 0.03% |
Whether you’re saving to get on the property ladder or you want to support your family over the longer term, Capital Wave Trust Savings offers extra benefits and the flexibility you want from an instant access account. Our preferential treatment, extended to your savings. Open an account with $100. How much you save is up to you – with no maximum limit Access your money instantly. No notice is required, and you can transfer funds in real-time Save the way you want. You can put away a lump sum, make a regular standing order or just make payments when it suits you See your money grow. Premier Savings pays you interest every month Manage your money anytime. Once opened, you can manage your account via telephone and online banking, the Ovabay Credit Union Mobile Banking App or in any of our branches .
This is an instant access savings account for Capital Wave Trust Savings customers. You can open the account with as little as $100. Save by putting away lump sums, save regularly by standing order, or just make payments whenever you like. You can access the money instantly with no fees, and transfer funds in real time
| Balance | Interest rate |
|---|---|
| All balances | 0.20% AER/Gross |
| Initial deposit | Interest Rate | Balance at the end of 12 months |
|---|---|---|
| $1,000 | 0.20% AER/Gross | $1,002 |
Manage cash flow and streamline accounting with a dedicated business account
Essential tools for small businesses. Mobile Banking with mobile check deposit. Online Banking with account alerts and Bill Pay. Business debit cards with Total Security Protection. Business savings account. $12/month Premium tools for large or growing businesses. All Business Fundamentals features. Easy QuickBooks integration5. No-fee stop payments, incoming wire transfers and more. Additional business checking account included. $29.95/month.
Premium tools for large or growing businesses. All Business Fundamentals features. Easy QuickBooks integration5. No-fee stop payments, incoming wire transfers and more. Additional business checking account included. $29.95/month.
| Business Fundamentals Checking | Business Advantage Checking | |
|---|---|---|
| Good for you if... | You’re interested in essential account tools with a low monthly cost. | You’re interested in Account Management, multiple accounts or no-fee services like stop payments and wire transfers. |
| Second business checking account | $12/month | No monthly fee |
| Business savings account | Business Investment Account (no additional monthly fee) | Business Advantage Savings (no additional monthly fee) |
| Incoming wire transfer fee | Domestic: $15/transfer International: $16/transfer | No fee |
| Account Management | Not included (Add for $15/month or upgrade to Business Advantage) | Included ($15/month value) |
| How to avoid the monthly fee | Spend $250 in net new purchases on a business debit or credit card | Spend $2,500 in net new purchases on a business credit card |
Receive alerts when your account balance is low, a bill is due soon, or we spot unusual account activity
Goodbye, petty cash – expense tracking is a breeze with business and employee debit cards. Set card-specific spending limits and view online statements
Manage your business on the go with the KCG mobile app. Deposit checks, request transfers, pay bills and monitor pending transactions
View balances by category, get cash flow projections, and monitor key transactions at a glance with Business advantage 360
Mobile Banking requires that you download the Mobile Banking app and is only available for select mobile devices. Message and data rates may apply. Mobile Check Deposits are subject to verification and not available for immediate withdrawal. Other restrictions apply. In the Mobile Banking app menu, select Deposit Checks, then Help for details and other terms and conditions. Message and data rates may apply. Requires Internet access, and Internet service provider fees may apply. You may elect to receive alerts via text or email. Ovabay Credit Union does not charge for this service but your mobile carrier's message and data rates may apply. Delivery of alerts may be affected or delayed by your mobile carrier’s coverage. QuickBooks and the QuickBooks logo are registered trademarks of Intuit, Inc., used under license. Bank of Ovabay Credit Union does not deliver and is not responsible for the products, services or performance of Intuit, Inc. Internet access may be required. You may link additional Business Fundamentals® Checking, Business Economy Checking, Business Interest Checking, Business Advantage Savings (all variations), Business Investment Account and Business CDs. Spend $2,500 or more in net new purchases each card billing cycle using a linked Bank of Ovabay Credit Union business credit or charge card. Net new purchases must post to that card account to qualify. To link your Business card account to your Business Advantage Checking account, please visit your local financial center or call us. Purchases must be made on only one of either the credit or charge card accounts; purchases on any combination of credit and charge cards cannot be aggregated to reach the monthly spend. See Business Schedule of Fees for an explanation of how the monthly fee waiver is applied and how the card spend is determined. You may link additional Business Advantage Checking, Business Economy Checking, Business Interest Checking, Business Advantage Savings (all variations), Business Investment Account and Business CDs
Easy everyday banking with exclusive benefits and rewards. Get $155 when you switch Simply apply for a new Advance Account then within 30 days use the Current Account Switch Service to complete a full switch with at least 2 Direct Debits or Standing Orders. The offer is open to new customers who meet certain eligibility criteria If you're an existing customer with an overdraft, you can log on to online banking and manage your current arranged limit.
Deal with unexpected expenses You’ll get an arranged overdraft of at least $1,000 when you open your account – a handy little safety net. Get it all for no monthly fee Unlike with some current accounts, there’s no monthly fee to pay for your Advance Account
Earn 2.75% AER/gross on your savings Build up your savings pot with our Regular Saver. You can save between $25-$250 each month and earn 2.75% AER/gross.
Controlling your finances is simple with our Mobile Banking app. Make payments, transfer funds pay in cheques with a photo, block or unblock your card. You can do it all in moments
You can call us 24 hours a day, any day of the year, and our customer service team will be happy to help. Alternatively, you can reach us by Live Chat, on social media, or by popping into a branch.
| Charges and overdraft | |
|---|---|
| Overdrafts and unarranged overdrafts | An overdraft lets you borrow money on your current account. An arranged overdraft is where we agree an overdraft limit with you. This can help in months when you have extra expenses. An unarranged overdraft is when you make a payment that takes your account over your arranged limit or overdrawn when you don’t have an arranged overdraft in place. We’ll always consider an unarranged request and make the payment if we can. Unarranged overdrafts may incur higher fees and result in declined transactions. We report account activity, including overdraft London Age to credit reference agencies. An unarranged overdraft lasting more than 30 days could have a negative impact on your credit rating. Overdrafts are not suitable for long-term borrowing and usually result in interest and other fees. If you take an arranged overdraft, you can later ask us to increase, reduce or remove your limit at any time online, by phone or in a branch. If you end your overdraft you’ll have to repay any overdrawn amount and any interest owed. If you want to reduce your limit, you’ll first need to make sure you bring your borrowing down within the new limit. To find out more, visit our overdrafts page where you can find out if you’re eligible and overdraft cost calculator |
| Overdraft charges | When you open your account you can get an arranged overdraft limit of at least $1,000. Anything you borrow within your arranged overdraft limit will be charged interest at 17.9% EAR. This is a preferential rate for Advance and Premier customers. If you borrow more than your arranged overdraft limit you’ll be charged an additional $5 a day for each day you’re overdrawn (up to a maximum of $80 a month). That’s on top of any interest you have to pay. We provide a number of tools to help you avoid overdraft charges. For example, your account comes with a £10 buffer for unarranged overdrafts. This means that if you go into your unarranged overdraft by $10 or less, you won’t pay any unarranged overdraft charges or interest. We’ll also send you a text alert (if you’ve given us your mobile number) if an upcoming payment is going to make you overdrawn. Representative example: 17.9% EAR variable (assumed arranged overdraft $1,000) |
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