A retail account is any account that the agreement is between Trust Company of America and the individual(s).
At our discretion, interest rates and annual percentage yields may change. Please contact your TCA Asset Custody Services Department for current interest rates.
Compounding and Crediting
Interest will be compounded daily. Interest will be credited to your account monthly.
Effect of Closing an Account
If you close your account before interest is credited, you will not receive the accrued interest.
Balance Computation Method
TCA uses the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of Interest on Non-Cash Deposits
Interest begins to accrue no later than the business day TCA receives credit for non-cash items1 (for example, checks).
Withdrawals from IRA and qualified retirement plan accounts are subject to IRS and ERISA distribution regulations.
No fee is imposed to provide the cash deposit feature of your account, but if applicable, custodial fees, etc. may be charged against your account.
1Item is defined in the Uniform Commercial Code as “an instrument or a promise or order to pay money handled by a bank for collection or payment.”
Attention: Please do not complete Trust Company of America account forms prior to reading and understanding the content above.