Deposit and Withdrawal Requirements. (i) Minimum Deposit. A minimum deposit of at least $25,000.00 for CD and $5,000.00 for MMA is required to open an Account. Your Account will not begin to earn interest until: (i) your CD Account has been funded with the $25,000.00 minimum deposit and/or (ii) your MMA has been funded with the $5,000.00 minimum deposit. You are not permitted to deposit additional funds into your CD Account after it has been open. However, you are permitted to deposit and transact on your MMA consistent with subsection the limits of transactions applicable to MMA as detailed in the Disclosure & Schedule of Fees for TotalDirectBank and the Deposit Agreement as well as the maximum deposit limitations found in the subsection below. If you fail to fund your Account with at least the minimum deposit of $25,000.00 within thirty (30) days of Account opening, we may close your Account. The term of your CD begins on the day of the final deposit into your CD Account, subject to clearance of the funds (e.g., with a check, collection of the funds from the depository bank, with ACH upon final settlement, or with wire transfers, upon receipt and credit into the account). The MMA is deemed opened on the day of the final deposit into your Account, subject to clearance of the funds (e.g., with a check, collection of the funds from the depository bank, with ACH upon final settlement, or with wire transfers, upon receipt and credit into the account). (ii) Maximum Deposit Limitation. Account owners are subject to a maximum deposit balance limit across all Accounts of $500,000.00 per Account owner. With respect to joint Accounts, for purposes of determining the maximum deposit balance permissible per Account owner, each joint Account owner will be attributed an equal portion of the balance of the joint Account. For purposes of calculating the maximum deposit balance permissible, for each new Account owner, deposit balances include principal deposited in all Accounts held by the same Account owner with us but does not include interest earned and credited but not withdrawn.
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