Pricing for the Deposit Accounts We Offer
This page provides you with information about the rates and fees associated with our deposit accounts. If you have any questions, please call our Customer Information Center at 508.732.7072 (7:00 A.M. to 8:00 P.M. Monday through Friday; Saturday from 8:00 A.M. to 5:00 P.M.; Sunday 10:00 A.M. to 3:00 P.M.), or stop by one of our many convenient branch locations.
Your eligibility to open and maintain a deposit account with us is subject to the eligibility requirements and other terms and conditions set forth in the Agreement. Eligibility requirements set forth for specific deposit accounts are in addition to, and not in replacement of, the general eligibility requirements in your Agreement with us.
Personal Deposit Account Agreement
Rates and Fees Below Effective January 2020
Pricing for the Deposit Accounts
Relationship Accounts: Rockland Complete Package
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Rockland Complete Checking Account |
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| Minimum Opening Deposit: | $500 |
| Monthly Maintenance Fee: | $25 Waived for the first three months. |
| Minimum Balance Required to Avoid Monthly Maintenance Fee: | The Monthly Maintenance Fee will be assessed if the combined average daily balances in your checking, savings, money market accounts plus eligible CDs and any outstanding loan balances for home equity lines of credit and home equity loans which includes Express Mortgage products, falls below $25,000. IRA CD balances are not included. |
| Rate Information: | The Rockland Complete Checking Account earns interest. Rate information is found in the Rate Information for Interest-Bearing Deposit Accounts section. |
| Combining Balances: | We calculate the combined balances in your eligible accounts as follows: We take the average daily balances in your checking, savings and money market accounts during the Rockland Complete Checking Account statement period plus the eligible CD balances and outstanding home equity balances as of your statement date. The owner or co-owner of the Rockland Complete Checking Account must also be an owner or co-owner on additional accounts for balances to be included for the Rockland Complete Checking Account balance requirements. |
Rockland Complete Money Market Account |
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| Minimum Opening Deposit: | $250 |
| Monthly Maintenance Fee: | NONE when combined with a Rockland Complete Checking Account. Should you close your Rockland Complete Checking Account, we will change your Rockland Complete Money Market Account to a standard Money Market Savings Account, subject to the current rates and fees associated with that account. |
| Excess Transaction Fee: | $3 per Limited Transaction in excess of six (6) in any statement period. |
| Rate Information: | The Rockland Complete Money Market Account earns interest. Rate information is found in the Rate Information for Interest-Bearing Deposit Accounts section. |
Checking Accounts
Free Checking Account*
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| Eligibility: | *Free Checking is not available at these branches: Allston, Arlington, Boston, Brighton, Brookline, Burlington, Chestnut Hill, Dedham, Hyde Park, Jamaica Plain, Medford, Melrose, Milton, Needham, Newton, Newtonville, Norwood, Somerville, Waltham, Wellesley Hills, West Roxbury, Westwood, Woburn High School, and Woburn Main St. |
| Minimum Opening Deposit: | $25 |
| Monthly Maintenance Fee: |
NONE |
| Rate Information: |
The Free Checking Account does not earn interest. |
Worry-Free Checking*(Only available at select branches) |
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| Eligibility: |
*Worry-Free Checking is only available at these branches: Allston, Arlington, Boston, Brighton, Brookline, Burlington, Chestnut Hill, Dedham, Hyde Park, Jamaica Plain, Medford, Melrose, Milton, Needham, Newton, Newtonville, Norwood, Somerville, Waltham, Wellesley Hills, West Roxbury, Westwood, Woburn High School, and Woburn Main St. |
| Minimum Opening Deposit: | $25 |
| Monthly Maintenance Fee: |
NONE |
| Rate Information: |
The Worry-Free Checking Account does not earn interest. |
Free Student Checking Account |
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| Eligibility: | You must be a full or part-time student between the ages of 16 and 24. Effective on your 25th birthday, your account will be converted to a similar product type. |
| Minimum Opening Deposit: | $10 |
| Monthly Maintenance Fee: | NONE |
| Rate Information: | The Free Student Checking Account does not earn interest. |
Youth Checking Account |
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| Eligibility: | You must be age 18 or younger to open the Youth Checking Account. You may have only one Youth Checking Account. Effective on your 19th birthday, your account will be converted to a similar product type. If you are a full or part-time student at age 19, you may be eligible for our Free Student Checking Account. |
| Minimum Opening Deposit: | $25 |
| Monthly Maintenance Fee: | NONE |
| Rate Information: | The Youth Checking Account earns interest. Rate information is found in the Rate Information for Interest-Bearing Deposit Accounts section. |
65 Classic Checking Account |
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| Eligibility: | You must be 65 or older to open the 65 Classic Checking Account. You may have only one 65 Classic Checking Account. |
| Minimum Opening Deposit: | $25 |
| Monthly Maintenance Fee: | NONE |
| Rate Information: | The 65 Classic Checking Account earns interest. Rate information is found in the Rate Information for Interest-Bearing Deposit Accounts section. |
Advantage Checking Account |
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| Minimum Opening Deposit: | $25 |
| Monthly Maintenance Fee: | $8 |
| Minimum Balance Required to Avoid Monthly Maintenance Fee: | The Monthly Maintenance Fee will be assessed if the daily balance in your Advantage Checking Account falls below $500 on any day of the statement period. |
| Rate Information: | The Advantage Checking Account earns interest. Rate information is found in the Rate Information for Interest-Bearing Deposit Accounts section. |
Workplace Interest Checking Account |
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| Eligibility: | To open this account you must (a) be an active employee of participating business, commercial, or municipal customers of Rockland Trust and (b) must receive your pay from your employer via direct deposit. |
| Minimum Opening Deposit: | $25 |
| Monthly Maintenance Fee: | NONE |
| Rate Information: |
The Workplace Interest Checking Account earns interest. Rate information is found in the Rate Information for Interest- Bearing Deposit Accounts section. |
Renew Checking Account |
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| Eligibility: | If you overdraw your Renew Checking Account within 12 months of account opening we may close your account and mail you a check for the account balance. If your Renew Checking Account is closed in this manner you will be ineligible to open another checking account with us. If you do not overdraw your Renew Checking Account within 12 months of account opening, you may apply for another Deposit Account subject to normal qualification requirements. |
| Minimum Opening Deposit | $25 |
| Monthly Maintenance Fee: | $10 |
| Rate Information: |
The Renew Checking Account does not earn interest. |
Premier Checking Account |
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| Eligibility: |
Premier Checking is available to Rockland Trust customers with $1,000,000 or more invested with Rockland Trust's Investment Management Group (IMG) and who will maintain this balance for at least 12 months. |
| Minimum Opening Deposit: | $25 |
| Monthly Maintenance Fee: | NONE. Should you close your Rockland Trust Investment Account, we will change your Premier Checking Account to a Rockland Complete Checking Account, or similar product type, subject to the current rates and fees associated with that account. |
| Rate Information: | The Premier Checking Account earns interest. Rate information is found in the Rate Information for Interest-Bearing Deposit Accounts section. |
Savings Accounts
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Money Market Savings Account |
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| Minimum Opening Deposit: | $25 |
| Monthly Maintenance Fee: | $8 |
| Minimum Balance Required to Avoid Monthly Maintenance Fee: | The Monthly Maintenance Fee will be assessed if the daily balance in your Money Market Savings Account falls below $2,500 on any day of the statement period. |
| Excess Transaction Fee: | $3 per Limited Transaction in excess of six (6) in any statement period. |
| Rate Information: | The Money Marketing Savings Account earns interest. Rate information is found in the Rate Information for Interest-Bearing Deposit Accounts section. |
Free Savings Account |
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| Minimum Opening Deposit: | $10 |
| Monthly Maintenance Fee: | NONE |
| Rate Information: | The Free Savings Account earns interest. Rate information is found in the Rate Information for Interest-Bearing Deposit Accounts section. |
Youth Savings Account |
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| Eligibility: | You must be age 18 or younger to open the Youth Savings Account. You may have only one Youth Savings Account. Effective on your 19th birthday, your account will be converted to a similar product type. |
| Minimum Opening Deposit: | $25 |
| Monthly Maintenance Fee: | NONE |
| Rate Information: | The Youth Savings Account earns interest. Rate information is found in the Rate Information for Interest-Bearing Deposit Accounts section. |
65 Classic Savings Account |
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| Eligibility: | You must be 65 or older to open the 65 Classic Savings Account. You may have only one 65 Classic Savings Account. |
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$25 |
| Monthly Maintenance Fee: | NONE |
| Rate Information: | The 65 Classic Savings account earns interest. Rate information is found in the Rate Information for Interest-Bearing Deposit Accounts section. |
Savings Makes Cent$ Account |
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| Eligibility: | You must be age 13 or under to open a Savings Makes Cent$ Account. Effective on your 14th birthday, your account will be converted to a similar product type. |
| Minimum Opening Deposit | $10 |
| Monthly Maintenance Fee: |
NONE |
| Rate Information: |
Savings Makes Cent$ Account earns interest. Rate information is found in the Rate Information for Interest-Bearing Deposit Accounts section. |
Premier Savings Account |
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| Eligibility: | Premier Savings is available to Rockland Trust customers with $1,000,000 or more invested with Rockland Trust's Investment Management Group (IMG) and who will maintain this balance for at least 12 months. |
| Minimum Opening Deposit: | $25 |
| Monthly Maintenance Fee: |
NONE. Should you close your Rockland Trust Investment Management Account, we will change your Premier Savings Account to a Free Savings Account, or similar product type, subject to the current rates and fees associated with that account. |
| Rate Information: | The Premier Savings Account earns interest. Rate information is found in the Rate Information for Interest-Bearing Deposit Accounts section. |
Premier Money Market Account |
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| Eligibility: | Premier Money Market is available to Rockland Trust customers with $1,000,000 or more invested with Rockland Trust's Investment Management Group (IMG) and who will maintain this balance for at least 12 months. |
| Minimum Opening Deposit: | $25 |
| Monthly Maintenance Fee: |
NONE. Should you close your Rockland Trust Investment Account, we will change your Premier Money Market Account to a Money Market Savings Account, or similar product type, subject to the current rates and fees associated with that account. |
| Rate Information: | The Premier Money Market Account earns interest. Rate information is found in the Rate Information for Interest-Bearing Deposit Accounts section. |
Rate Information for Interest-Bearing Deposit Accounts
For current interest rate and annual percentage yield ("APY") information, please call our Customer Information Center at 508.732.7072 (7:00 A.M. to 8:00 P.M. Monday through Friday; Saturday from 8:00 A.M. to 5:00 P.M.; Sunday 10:00 A.M. to 3:00 P.M.), visit us online at RocklandTrust.com, or stop by one of our many convenient branch locations.
The interest rate and APY on all interest-bearing deposit accounts may change. For all interest-bearing deposit accounts changes in the interest rate are at our discretion, and we may change the interest rate at any time. We use the daily collected balance method to calculate interest on all interest-bearing deposit accounts. This method applies a daily periodic rate to the principal in the deposit account each day.
Interest on all interest-bearing deposit accounts will be compounded every month and credited to your interest-bearing account every month. Interest begins to accrue no later than the Business Day we receive credit for the deposit of noncash items (for example, checks) made to your interest-bearing deposit accounts. If you close your interest-bearing deposit account before interest is credited, you will not receive the accrued interest.
Transaction Limits
Limits Applicable to Money Market and Savings Deposit Accounts
You may make an unlimited number of withdrawals or transfers from your savings account(s) and/or money market account(s) so long as they are done in person at one of our ATMs or branch locations. However, federal regulations limit your ability to make certain types of withdrawals and transfers from these accounts. Under these regulations, any checks, drafts or debit card transactions (or similar payment orders) drawn on your money market account that are payable to third parties (no such transactions are permitted on your savings accounts), as well as any transfers or transactions from your money market or savings account to another of your accounts with us or to third parties by pre-authorized or automatic means, personal computer (including online banking or bill payment services) or telephone (including facsimile or data transmission), are considered “Limited Transactions.” You are limited to a total of six (6) Limited Transactions from your money market and savings account per statement period. We count check transactions on your money market account on the day the check is presented to us for payment, regardless of when you may have written it (including if it was written in a prior statement period). If you exceed your Limited Transaction limit on your money market and savings account, we may assess you an Excess Transaction Fee for each Limited Transaction over the limit. Additionally, if you exceed your Limited Transaction limit on a regular basis, we may close your money market or savings account, or change this type of account to a different deposit account you are eligible to maintain.
Other Miscellaneous Fees and Charges
The fees listed below apply regardless of the balance in your deposit account, except as noted. All fees will be assessed to your deposit account on the day they occur.
| ATM/Debit Card Replacement Fee ( Debit Memo ) | $10 |
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ATM Balance Inquiries or Transfers at Non-Rockland Trust ATMs |
$1.50 |
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ATM Fee for Withdrawals at Non-Rockland Trust ATMs |
$2 |
| Attachment/Tax Levy Fee | $75 |
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Auto Transfer Non-Sufficient Funds (NSF) Fee |
$351 |
| Check Orders and Check Accessories Fee | Fee Varies 2,3 |
| Dormant Account Fee | $5 per statement period 4 |
| Escheatment Fee | $50 |
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Excess Transaction Fee |
$3 5 |
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International Transaction Assessment Fee (ITA Fee) |
3% of U.S. Dollar amount of
Transaction at Settlement
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| Research Fees 5, 6 | |
| Per copy of deposit or check | $5 |
| Per hour | $20 |
| Statement Fee (Branch Copy) | $5 |
| Interim Statement (Service Charge) | $5 |
| Money Order (Registered Check) | $5 7 |
|
Negative Balance Fee |
$35 8 |
Overdraft Charges, Returned Item Insufficient Charges and Uncollected Charges
We make deposits to your deposit account available for your withdrawal in accordance with our Funds Availability Policy. However, the credit that we give you for your deposits (other than cash) is provisional until we finally receive the funds from the institution on which the deposited item was drawn. As a result, the "Collected Balance" in your deposit account may be less than the "Available Balance" in your deposit account.
When the "Available Balance" in your deposit account is not sufficient to pay a Debit Transaction (which includes a check, in-person withdrawal, ATM withdrawal, or other electronic means of debiting funds from your deposit account) presented for payment from that deposit account we may either pay the Debit Transaction (and create an overdraft on your deposit account) or we may return the Debit Transaction unpaid due to insufficient funds. If we pay the Debit Transaction, we may assess you an Overdraft Charge in the amount(s) described below. If we return the Debit Transaction unpaid we may assess you a Returned Item Insufficient Charge in the amount(s) described below. If your Available Balance is sufficient to pay a Debit Transaction presented for payment, but the Collected Balance is not, we may assess you an Uncollected Charge in the amount(s) described below. These charges are:
Overdraft Charge (our standard charge) $35.00 1,9
For each Debit Transaction more than $5.00 that creates an overdraft on your deposit account.
Overdraft Charge (our reduced charge) $5.00
For each Debit Transaction of $5.00 or less that creates an overdraft on your deposit account.
Returned Item Insufficient Charge (our standard charge) $35.00 1,9
For each Debit Transaction more than $5.00 returned unpaid due to non-sufficient funds.
Returned Item Insufficient Charge (our reduced charge) $5.00
For each Debit Transaction of $5.00 or less returned unpaid due to non-sufficient funds.
Uncollected Charge (our standard charge) $35.00 1,9
For each Debit Transaction of more than $5.00 paid against a sufficient Available Balance but an insufficient Collected Balance.
Uncollected Charge (our reduced charge) $5.00
For each Debit Transaction of $5.00 or less paid against a sufficient Available Balance but an insufficient Collected Balance.
Please note that, as is discussed in greater detail in our Agreement, each Business Day we organize the Debit Transactions presented for payment against your deposit account into certain Payment Categories, and within those Payment Categories into certain subcategories based on transaction type. The order in which Debit Transactions are received, organized and processed by us may affect the total amount of Overdraft Charges, Returned Item Insufficient Charges and Uncollected Charges that you may be assessed. However, we have two (2) ways in which we limit the total amount of these charges that you may be assessed.
First, we will not assess you any Overdraft Charges or Returned Item Insufficient Charges if the total amount of the Debit Transactions presented for payment on a Business Day exceeds your Available Balance on that Business Day by no more than $5.00. Similarly, we will not assess you any Uncollected Charges if the total amount of the Debit Transactions presented for payment on a Business Day exceeds your Collected Balance by no more than $5.00.
Second, we impose a limit on the amount of Overdraft Charges and Returned Item Insufficient Charges that you may be assessed on any one Business Day. This limit is an amount equal to no more than five (5) Overdraft Charges or Returned Item Insufficient Charges (at their standard charge amount, and not the reduced charge amount). In addition, you may be charged an additional five (5) Uncollected Charges (at their standard charge amount, and not the reduced charge amount). This could result in a maximum ten (10) Overdraft Charges, Returned Item Insufficient Charges, and Uncollected Charges at that standard charge amount and not the reduced charge amount on any one Business Day.
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| Overdraft Account Link Fee will be rebated on the following business day if the transfer fails to cover at least one overdraft. |
$5.00 per daily transfer |
| Overdraft Protection Line of Credit Annual Fee | $35 7 |
| Return Item Fee (Deposit item returned) | $7.50 |
| Special Shipping for Replacement Cards (Overnight Delivery) | Fee Varies |
| Stop Payment Charge | $35 7 |
| Treasurer's Check | $8 7 |
| Wire Transfer Fee | |
| Incoming Domestic in U.S. Currency | $12 7 |
| Outgoing Domestic in U.S. Currency | $25 7 |
| Incoming International in U.S. Currency | $12 7 |
| Outgoing International in U.S. Currency | $40 7 |
| Outgoing International in Foreign Currency | $10 7 |
Special Services Fees |
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| Check Collection | |
| Domestic - Standard | $25 |
| Foreign - Standard | $40 |
| Foreign - Provisional | $25 |
| Collection of Securities | $55 |
| Confirmation Fee (Debit Memo ) | $15 |
| Foreign Currency | |
| Redeem Over the Counter | $10 |
| Sell Over the Counter | $10 |
| Foreign Draft | $35 |
Notes Regarding Standard and Special Service Fees:
1 This fee is reduced to $5.00 per Debit Transaction for deposit accounts that you have elected for coverage under the Massachusetts “18/65 Law.” There is a daily limit of no more than four (4) such charges on deposit accounts that are covered under the Massachusetts “18/65 Law.”
2 Rockland Complete Checking Account, Premier Checking Account, Premier Money Market Account and a deposit account that you have elected for coverage under the Massachusetts “18/65 Law” receive free Rockland Trust standard checks.
3 Free Checking, Worry-Free Checking, Advantage Checking, and Money Market Savings customers receive an initial order of Rockland Trust standard checks free.
4 The Dormant Account Fee will be assessed on deposit accounts that (a) have had no activity (other than the accrual and crediting of interest, if the deposit account is interest bearing) for one (1) year and (b) have a daily balance less than $500 on the final day of the statement period on which the Dormant Account Fee will be assessed. This fee will be waived on our Free Savings Account, Youth Savings Account, 65 Classic Savings, Premier Checking, Premier Savings, Premier Money Market, and Savings Makes Cent$ Account.
5 This fee will be waived for Premier Savings and Premier Money Market Accounts.
6 These fees will not be charged if you are requesting documents in connection with EFT error resolution processes.
7 This fee will be waived for Rockland Complete Checking, Rockland Complete Money Market, Premier Checking, Premier Savings, and Premier Money Market Accounts.
8 This fee will be waived for a deposit account that you have elected for coverage under the Massachusetts “18/65 Law”.
9 Free Student Checking Account is entitled to one (1) rebate of an Overdraft Charge on the account per calendar year.
