Public Funds Savings
An interest-bearing savings account for government, municipality and public entities1.
Features & Benefits
- Open an account with a minimum deposit of $100
- Variable rate, compounded daily2, paid monthly
- Deposit up to 50 items per month at no charge3
- Deposit up to $15,000 in cash per month without a fee4
- Use Business Online Banking to manage your finances efficiently using a mobile phone, tablet, or computer5
- Call our U.S.-based customer service center available 7am to 7pm Monday–Saturday 844-210-3602
- Go paperless with eStatements, eNotices, and eTax Documents6
Withdrawals
Transaction limits apply. Make up to six withdrawals and transfers each month without a withdrawal fee.7
Can the monthly Fee be waived? – The $5 monthly fee8 is waived by maintaining a minimum daily balance of at least $5009.
| Public Funds Savings | ||
| Balance | Interest Rate | Annual Percentage Yield (APY)10 |
| $0 - $999.99 | 0.05% | 0.05% |
| $1,000 - $4,999.99 | 0.05% | 0.05% |
| $5,000 - $24,999.99 | 0.05% | 0.05% |
| $25,000 - $49,999.99 | 0.05% | 0.05% |
| $50,000 - $99,999.99 | 0.05% | 0.05% |
| $100,000 + | 0.10% | 0.10% |
To open an account or if you have questions call 844-210-3602, visit a branch near you or complete the form below.
**Important Details**
Please refer to the Deposit Account Agreement, Account Disclosure, Deposit Rate Sheet, and the Business Accounts Schedule of Fees, or speak with a banker for more details.
1. Public Funds Accounts – Eligibility rules may apply. Ask your banker for additional information.
2. Savings and Money Market Interest – Interest is calculated using the daily balance method.
This method applies a daily periodic rate to the collected balance in the account each day. Annual
Percentage Yield (APY) is variable and may change after the account is opened. Other fees may apply
and may reduce earnings. Contact a Financial Center for details.
3. Transaction – A transaction is a combination of debited items
(withdrawals) credited items (deposits) and deposited items per statement
cycle, and includes the following: Credits–any deposit into the account.
Debits–any withdrawal such as check, draft, ACH or other debit against
the account. Deposited items–each individual item that comprises a
deposit such as a check or other item deposited.
4. Cash Deposit Limits – There is a charge per $100 cash deposited over
your allowance. For pricing, please reference the schedule of fees and/or
the Account Disclosure document.
5. Business Online Banking & Mobile Banking – Mobile Banking requires
download of the smartphone or tablet version of Vectra Bank Business
Mobile Banking from the Apple® App Store, Google Play®, or Samsung
Galaxy® App Store. Message and data rates from your wireless provider
may apply. Requires enrollment in online banking. Please see the Service
Charge Information schedule for applicable fees. Subject to the terms and
conditions of the Business Online Banking services agreement.
6. eDocuments – To avoid the Paper Statement Fee of $3, you must
enroll in Online Banking, and opt your account out of receiving paper
statements. You may opt to receive either electronic or paper account
notices and tax documents at no additional cost. If multiple accounts
are linked in a combined statement, you must have opted your primary
account out of receiving paper statements.
7. Excessive Savings or Money Market Withdrawals – Federal banking
regulations allow up to six (6) withdrawals by check, debit card, or
pre–authorized, telephone, or computer transfer to another account
or third party during a monthly statement cycle of at least four weeks.
However, you may make an unlimited number of withdrawals from your
account in person, by ATM, or by mail. A excessive withdrawal fee of up
to $15 is assessed if you exceed your withdrawal limits during a monthly
statement cycle.
If the above limits are exceeded three (3) times in a twelve (12) month
period, the account will be closed or changed to a different type of
account.
Deposits: $0.40 charge per additional item over 50.
8. Waived Fees – Service fee waivers will only apply to the primary account.
9. Minimum Balance – In order to avoid a monthly service fee, the minimum balance requirement must be met. The monthly
service fee amount is provided as part of the disclosures upon account opening. Minimum Balance: If your daily
balance drops below the minimum balance requirement, then a monthly service fee will be assessed.
10. Interest Rates and Annual Percentage Yields (APY) – Interest rates and annual percentage yields (APY) are current as of
and may change daily as determined solely by Vectra Bank Colorado.
Interest is compounded daily and credited monthly on interest bearing deposit
accounts. Interest begins to accrue no later than the business day we receive
credit for non–cash items (for example, checks). Applicable service fees could
reduce earnings on account. We use the daily balance method to calculate interest
on your account. This method applies a daily periodic rate to the principal in
the account each day. See Business Account Terms and Deposit Agreement
for additional information about fees, terms and conditions.
