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 Schedule for Personal Accounts Below
Effective March 2023
Pricing for the Deposit Accounts We Offer
Relationship Accounts: Rockland Complete Package
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| Features | Fees & Options |
|---|---|
| Minimum Opening Deposit: | $500 |
| Monthly Maintenance Fee: | $25, Waived for first three months. |
| Minimum Balance Required to Avoid Monthly Maintenance Fee: | We will waive the monthly maintenance fee if you keep at least a combined $25,000 average daily balance in any of the following personal accounts: checking, savings, money market, non-IRA CDs and outstanding loan balances for home equity lines of credit and home equity loans (which includes our Express Mortgage product). |
| Rate Information: | 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 personal 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. |
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| Features | Fees & Options |
|---|---|
| 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 Money Market Savings account, subject to the current rates and fees associated with that account. |
| Rate Information: | Earns interest. Rate information is found in the Rate Information for Interest-Bearing Deposit Accounts section. |
Relationship Accounts: The Club at Rockland Trust
| Minimum Opening Deposit: | $25 |
| Monthly Maintenance Fee: | $15 Waived for first three months |
| Minimum Balance Required to Avoid Monthly Maintenance Fee: | We will waive the monthly maintenance fee if you maintain a combined $25,000 average daily balance in any of the following accounts: personal checking, savings, money markets, CDs, and/or IRA CDs. If your combined average daily balance falls below $25,000 for three consecutive statement periods, we will transfer your Club Checking account to an Advantage Checking account and your Club Money Market to a Money Market Savings account. |
| Rate Information: | 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 Club Checking account statement period plus the eligible CD balances as of your statement date. The owner or co-owner of the Club Checking account must also be an owner or co-owner of additional accounts for balances to be included for the Club Checking account balance requirements. |
| Other Requirements | Having this account grants you access to The Club at Rockland Trust program which stipulates you must be 50 years of age or older. Account must be opened at a branch located within Worcester County. |
Club Money Market
| Features | Fees & Options |
|---|---|
| Minimum Opening Deposit: | $25 |
| Monthly Maintenance Fee: | NONE when combined with a Club Checking account. Should you close your Club Checking account, we will change your Club Money Market account to a Money Market Savings account, subject to the current rates and fees associated with that account. |
| Rate Information: | Earns interest. Rate information is found in the Rate Information for Interest-Bearing Deposit Accounts section. |
Relationship Accounts: IMG Premier
| Features | Fees & Options |
|---|---|
| Eligibility: | IMG 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 IMG 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: | Earns interest. Rate information is found in the Rate Information for Interest-Bearing Deposit Accounts section. |
| Features | Fees & Options |
|---|---|
| Eligibility: | IMG 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 account, we will change your IMG 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: | Earns interest. Rate information is found in the Rate Information for Interest-Bearing Deposit Accounts section. |
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| Features | Fees & Options |
|---|---|
| Eligibility: | IMG 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 IMG 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: | Earns interest. Rate information is found in the Rate Information for Interest-Bearing Deposit Accounts section. |
Checking Accounts
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| Features | Fees & Options |
|---|---|
| Minimum Opening Deposit: | $25 |
| Monthly Maintenance Fee: | NONE |
| Rate Information: | Does not earn interest. |
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| Features | Fees & Options |
|---|---|
| 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: | Does not earn interest. |
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| Features | Fees & Options |
|---|---|
| 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: | Earns interest. Rate information is found in the Rate Information for Interest-Bearing Deposit Accounts section. |
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| Features | Fees & Options |
|---|---|
| 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: | Earns interest. Rate information is found in the Rate Information for Interest-Bearing Deposit Accounts section. |
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| Features | Fees & Options |
|---|---|
| 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 $1,000 on any day of the statement period. |
| Rate Information: | Earns interest. Rate information is found in the Rate Information for Interest-Bearing Deposit Accounts section. |
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| Features | Fees & Options |
|---|---|
| Eligibility: | To open this account you (a) must be an active employee of a participating business, commercial, or municipal customer of Rockland Trust and (b) must have your pay direct deposited into your Workplace Interest Checking account. |
| Minimum Opening Deposit: | $25 |
| Monthly Maintenance Fee: | NONE |
| Rate Information: | Earns interest. Rate information is found in the Rate Information for Interest- Bearing Deposit Accounts section. |
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| Features | Fees & Options |
|---|---|
| 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: | Does not earn interest. |
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Savings Accounts
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| Features | Fees & Options |
|---|---|
| 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. |
| Rate Information: | Earns interest. Rate information is found in the Rate Information for Interest-Bearing Deposit Accounts section. |
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| Features | Fees & Options |
|---|---|
| Minimum Opening Deposit: | $10 |
| Monthly Maintenance Fee: | NONE |
| Rate Information: | Earns interest. Rate information is found in the Rate Information for Interest-Bearing Deposit Accounts section. |
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| Features | Fees & Options |
|---|---|
| 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: | Earns interest. Rate information is found in the Rate Information for Interest-Bearing Deposit Accounts section. |
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| Features | Fees & Options |
|---|---|
| Eligibility: | You must be 65 or older to open the 65 Classic Savings account. You may have only one 65 Classic Savings account. |
| Minimum Opening Deposit: | $25 |
| Monthly Maintenance Fee: | NONE |
| Rate Information: | Earns interest. Rate information is found in the Rate Information for Interest-Bearing Deposit Accounts section. |
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| Features | Fees & Options |
|---|---|
| Eligibility: | You must be age 13 or under to open a Savings Makes Cent$ 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: | Earns interest. Rate information is found in the Rate Information for Interest-Bearing Deposit Accounts section. |
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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 non-cash 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.
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.
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| Service | Fee |
|---|---|
| ATM Balance Inquiries or Transfers at Non-Rockland Trust ATMs | $1.75 Does not apply to Rockland Complete Checking, Rockland Complete Money Market, Club Checking, Club Money Market, Free Student Checking, Advantage Checking, IMG Premier Checking, IMG Premier Savings, IMG Premier Money Market and Workplace Interest Checking accounts. |
| ATM/Debit Card Replacement Fee (Debit Memo) | $10.00 |
| ATM Fee for Withdrawals at Non-Rockland Trust ATMs | $2.00 Does not apply to Rockland Complete Checking, Rockland Complete Money Market, Club Checking, Club Money Market, Free Student Checking, Advantage Checking, IMG Premier Checking, IMG Premier Savings, IMG Premier Money Market and Workplace Interest Checking accounts. |
| Attachment/Tax Levy Fee | $125.00 |
| Check Orders and Check Accessories Fee | Fee Varies1,2 |
| Dormant Account Fee | $5.00 per statement period3 |
| Escheatment Fee | $50.00 |
| International Transaction Assessment Fee (ITA Fee) For ATM and POS Transactions in a foreign currency or with a foreign merchant. |
3% of U.S. Dollar amount of Transaction at Settlement |
| Research Fees4,5 - Per copy of deposit or check | $5.00 |
| Research Fees4,5 - Per hour | $20.00 |
| Research Fees4,5 - Statement Fee (Branch Copy) | $5.00 |
| Research Fees4,5 - Interim Statement (Service Charge) | $5.00 |
| Money Order (Registered Check) | $5.006 |
| Negative Balance Fee | $35.007 Charged on 5th consecutive business day your deposit account balance is negative. |
Overdraft 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:
|
Overdraft Charge
We will not assess an Overdraft Charge if a transaction
we pay causes your account balance to be overdrawn by $20.00 or less. In addition, we will not assess an Overdraft Charge for any transactions or purchases of $5.00 or less. A maximum of three Overdraft Charges may be charged to an account per business day. |
$35.00 per item8,9 |
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.
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| Overdraft Protection Line of Credit Annual Fee | $35.006 |
| Return Item Fee - Deposit item returned | $7.11 |
| Special Shipping for Replacement Cards (Overnight Delivery) | Fee Varies |
| Stop Payment Charge | $35.006 |
| Treasurer's Check Charge | $8.006 |
| Wire Transfer Fee - Incoming Domestic in U.S. Currency | $12.006 |
| Wire Transfer Fee - Outgoing Domestic in U.S. Currency | $25.006 |
| Wire Transfer Fee - Incoming International in U.S. Currency | $12.006 |
| Wire Transfer Fee - Outgoing International in U.S. Currency | $40.006 |
| Wire Transfer Fee - Outgoing International in Foreign Currency | $10.006 |
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| Service | Fee |
|---|---|
| Check Collection - Domestic - Standard | $25.00 |
| Check Collection - Foreign - Standard | $40.00 |
| Check Collection - Foreign - Provisional | $25.00 |
| Collection of Securities | $55.00 |
| Confirmation Fee (Debit Memo) | $15.00 |
| Foreign Currency - Standard Fee (Purchase or Redeem) | $5.004 |
| Foreign Currency - Delivery Fee | $12.00 |
| Foreign Currency - Small Order Fee (Under $250) | $10.00 |
| Foreign Draft | $35.00 |
Notes Regarding Standard and Special Service Fees:
2 - Free Checking, Advantage Checking, and Money Market Savings customers receive an initial order of Rockland Trust standard-style checks free.
3 - 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 $500 on the final day of the statement period on which the Dormant Account Fee will be assessed. This fee will be waived on our Free Savings, Youth Savings, 65 Classic Savings, IMG Premier Checking, IMG Premier Savings, IMG Premier Money Market, and Savings Makes Cent$ accounts.
4 - This fee will be waived for IMG Premier Checking, IMG Premier Savings, and IMG Premier Money Market accounts.
5 - These fees will not be charged if you are requesting documents in connection with EFT error resolution processes.
6 - This fee will be waived for Rockland Complete Checking, Rockland Complete Money Market, Club Checking, Club Money Market, IMG Premier Checking, IMG Premier Savings, and IMG Premier Money Market accounts.
7 - This fee will be waived for a deposit account that you have elected for coverage under the Massachusetts “18/65 Law.”
8 - This charge is reduced to $5.00 for deposit accounts 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.
