What is lbd in banking

Interest Rate Sheet refers to a list disclosing the rates we are offering on our deposit products, as may be changed from time to time. Item means transactions posted to your Account including, but not limited to, Checks deposited to or debited from your Account, drafts, in-person withdrawals or transfers, ATM transactions, Card purchases, preauthorized electronic transactions, ACH entries, telephone transfers, Auto Pay, Auto Save, BMO Digital Banking transactions and all other debits and credits to your Account.

Item Returned Fee NSF refers to the fee charged when an Item presented for payment exceeds the available funds in your Account and we return the Item unpaid. Ledger Balance refers to the balance in your Account that consists of all deposits, plus interest credited to the Account, minus all withdrawals and other debits to the Account at the close of the Business Day.

Linked Accounts do not receive a monthly maintenance fee waiver under Relationship Waiver. Please read Section 7. We do not automatically do so. Marital Account means an Account established on or after January 1, , in Wisconsin without the right of survivorship by two parties who claim to be married. This type of Account is more fully described in Section 4.

E of the Deposit Account Agreement. If the designated Account is a Wealth Checking Account, you need to satisfy the Average Daily Balance requirement, rather than the Combined Balance requirement, in order to receive the monthly maintenance fee waiver.

This rate is subject to change at our discretion without notice. Notice of Dispute means a letter describing a Claim and containing the information described in Section 7. EE of the Deposit Account Agreement. Overdraft means a negative balance in your Account which occurs when the available funds in your Account are less than the amount of an Item s presented for payment.

Overdraft Fee refers to the fee charged when an Item presented for payment exceeds the available funds in your Account and we pay the Item rather than return the Item. Overdraft Item refers to Items that would overdraw your Account. Overdraft Program refers to the discretionary payment of Overdrafts on a personal Checking Account.

For personal Checking Accounts it includes the optional service in which BMO Harris uses its discretion to pay Overdrafts caused by ATM and everyday debit Card transactions when you authorize us to do so. Visit bmoharris. PIN refers to any personal identification number used with your Card. POS refers to point of sale, telephone, and Internet purchases made using your Card.

Privacy Policy means our privacy policy described in the privacy notice we send to you from time to time and post on our website. The first quarterly calculation is based on the Ledger Balance in the BMO Harris Premier Account and the Ledger Balance in all other Eligible Deposit Accounts from the first calendar day of the month after the new Account is opened or the day of Account type change through the last day of the calendar quarter.

Relationship Waiver is a feature that offers monthly maintenance fee waivers on eligible deposit Accounts if they meet the requirements described in Section 7. Signature Device refers to the use of an automatic Check writing service which operates through the use of a personal computer, the use of a facsimile signature or stamp, or other method s of providing a mechanical signature that does not provide a personal signature.

Signer, as used in the Safe Deposit Box Agreement, shall refer to anyone that you have notified us is authorized to access your Box and has been provided a key to your Box.

You and your mean the person or entity who opened the Account or in whose name the Account was opened, including any joint Account Owner or agent.

When used in the Safe Deposit Box Agreement, references to you and your mean all persons, jointly and severally, who have entered into the Contract to rent the Box. Rate Information: These Accounts are variable rate Accounts where interest rates and annual percentage yields may change. At our discretion, we may change the interest rate on Accounts daily. Current interest rates are available by telephone at 1 8 8 8 3 4 0 2 2 6 5 or at any BMO Harris location.

Interest Compounding and Crediting: For interest-bearing personal Accounts except for Statement Savings and CDs , interest will be compounded daily on the Collected Balance and credited to the Account monthly on the statement period date. For interest-bearing business Accounts except for CDs , interest will be compounded daily on the Collected Balance and credited to the Account monthly on the statement period date.

For Statement Savings, interest will be compounded daily on the Collected Balance and credited to the Account quarterly on the last calendar day of the quarter.

For all CDs opened online with maturities less than one year, interest will be compounded daily, and credited to the CD at maturity. For all CDs opened online with maturities one year or greater, interest will be compounded daily and credited to the CD quarterly. If a deposit Account, other than a CD, is closed before interest is credited, you will receive any accrued and unpaid interest. If you close a CD within the grace period, accrued and unpaid interest is not paid.

If you close a CD on or prior to maturity, any accrued and unpaid interest will be credited to your CD. Interest begins to accrue no later than the Business Day we receive credit for non-cash deposits for example, checks regardless of how they are deposited.

For cash and electronic deposits, interest begins to accrue on the Business Day of the deposit. We reserve the right not to pay interest on any deposited Item that is returned to us as unpaid. Statements: BMO Harris provides checking including money market checking and savings Account statements monthly. Statement Savings statements are provided quarterly, but are provided monthly if there is an electronic transaction on the account.

Withdrawals or transfers from money market Checking Accounts are unlimited when made in person at the Bank, at an ATM, by messenger, or by mailing a request or speaking to a telephone representative to have a Check made payable to you. We may, at our option, charge a fee for any transaction that exceeds these limits. Local Banking Day means a day other than a Saturday or Sunday on which commercial banks are open for business including dealings in foreign exchange and foreign currency deposits in the place of presentation of the relevant Instrument or, as the case may be, Coupon.

Eurodollar Banking Day means any Banking Day on which dealings in Dollar deposits are conducted by and among banks in the Designated Eurodollar Market. London time two 2 London Banking Days before the commencement of the interest period, for U. Dollar deposits for delivery on the first day of such interest period with a term equivalent to such interest period. If such rate is not available at such time for any reason, then the rate for that interest period will be determined by such alternate method as reasonably selected by the Bank.

Applicable Banking Law As defined in Section 8. London Interbank Offered Rate has the meaning set forth in Section 2. Banking Day means a day on which commercial banks in London are open for general business including dealings in foreign exchange and foreign currency deposits.

International banking institution means an international financial institution of which the United States is a member and whose securities are exempt from registration under the Securities Act of London means the administrative area of the Greater London Authority from time to time;. Eurozone means the region comprised of member states of the European Union that adopt or have adopted the single currency in accordance with the Treaty establishing the European Community, as amended.

New York Business Day means each Monday, Tuesday, Wednesday, Thursday and Friday that is not a day on which banking institutions in New York City generally are authorized or obligated by law, regulation or executive order to close.