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Applications for a Sovereign Easy Access Line of Credit Account ("Account") are subject to credit approval. A Sovereign Easy Access Line of Credit provides overdraft protection for a Sovereign checking or money market savings account ("Linked Account"). The fixed Annual Percentage Rate on the Account is 18%. Rates and other terms are accurate as of August 1, 2011, and are subject to change thereafter. You can access your Easy Access Line of Credit by special check, counter withdrawal, telephone transfer ($50 minimum), Online Banking, and ATM withdrawals from your Sovereign Debit Card. You can also advance funds via Online Banking, telephone transfer ($50 minimum), or automatic transfer when your Linked Account is overdrawn. Special checks are issued only at our discretion upon your request. |
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An annual fee, if any, will be charged beginning in the first billing cycle after your Account is opened and in about the same billing cycle of each following year. The amount of the fee will be $0, $25, or $50, depending on the type of Sovereign Bank deposit account you maintain, and may change if the type of deposit account is changed by you. An overdraft transfer fee of $12 will be charged for each transfer made from your Account to cover an overdraft in your Sovereign Linked Account. The annual and overdraft transfer fees will be waived (i.e., will equal $0) as long as you maintain a Sovereign Premier, Business Owner Premier, Premier Partnership, Team Member Private, or Team Member Checking Account or Premier Money Market Savings Account. An annual fee of $25 will be charged as long as you maintain a Sovereign Preferred or Preferred Partnership Checking Account or Preferred Money Market Savings Account. An annual fee of $50 will be charged if you do not maintain one of the deposit account types named above. |
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Equal Housing Lender - Member FDIC
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