What happens to my existing beneficiaries when I re-title my Account as a revocable living trust Account?
Any beneficiary designation in our records for a Personal Savings Account will be automatically revoked and terminated when the Personal Savings Account is re-titled in the name of a revocable living trust. (Revocable living trust documents generally include their own beneficiary provisions; we presume that any beneficiary designation in our records for a Personal Savings Account is intended to be superseded and replaced by beneficiary provisions in the revocable living trust documents when an Account is re-titled as a revocable living trust Account.) We encourage you to consult with your financial or legal advisors before re-titling an Account to a revocable living trust Account.
More About Personal Savings
*The Annual Percentage Yield (APY) as advertised is accurate as of . Interest rate and APY are subject to change at any time without notice before and after a High Yield Savings Account is opened.
For a CD account, rates are subject to change at any time without notice before the account is opened. Your rate will be fixed on the business day‡ we receive your completed application, provided we receive your deposit within 30 days after your application is approved. After a CD is opened, additional deposits to the account are not permitted. Early CD withdrawals may be subject to significant penalties which could cause you to lose some of your principal. Please see the Deposit Account Agreement for additional terms and conditions and Truth-in-Savings disclosures.
**The national average APY is accurate as of November 30, 2020, as published in the FDIC's Weekly National Rates and Rate Caps; average rate used is for deposits under $100,000.
†You may make up to nine (9) withdrawals or transfers out of your High Yield Savings Account during a monthly statement cycle. Read More in FAQs.
‡For purposes of transferring funds, business days are Monday through Friday, excluding holidays. Transfers can be initiated 24/7 via the website or phone, but any transfers initiated after 7:00 PM Eastern Time or on non-business days will begin to be processed on the next business day.
♢Calculations are estimates of expected interest earned. Actual results may vary, based on various factors such as leap years, timing of deposits, rounding, and variation in interest rates. The first recurring deposit is assumed to begin in the second period after any initial deposit.