Account Analysis

Account analysis is a systematic review of all account activities and balances for an affordable way to calculate an earnings credit. The credit allowance on the account balances is then used to help offset a wide variety of service charges and fees.

• Monthly maintenance fee may be offset by collected balances maintained in the account.

How earnings credit offsets charges

• Accurate float is based on clearing time of each deposited item plus NSF float based on dollars of NSF item.
• The reserve will be calculated on the collected balance, that is, the average ledger balance less average float.
• Earnings credit will be based on the previous month's average thirteen-week Treasury Bill rate. The earnings credit rate is subject to change monthly.

REPURCHASE AGREEMENTS

As part of Waccamaw Bank's ongoing commitment to our business customers, we have developed a "sweep" option that will give our business customers a better opportunity to manage their cash. Repurchase agreements enable business customers to shift funds nightly from checking accounts that pay no interest into interest-bearing investments. For a small monthly fee, a customer can add this option to any of our analysis accounts. A target balance will be determined and each night, after all debits and credits have posted to the checking account, any excess balance in the checking account is automatically "swept" into a one-day interest bearing Repurchase Agreement. The next day,any cash needed by the checking account to pay new items will be transferred from the Repurchase Agreement back to the checking account. Interest earned on the investment will be credited each day.

Remote Image Deposit Capture

Direct Link: Remote Image Deposit Capture