CONSUMER PRICING TERMS AND CONDITIONS
Your account and deposit relationship with Arival Bank are governed by this Pricing Schedule (“Addendum A” and the Bank Account Agreement. PLEASE READ BOTH AGREEMENTS CAREFULLY AS THESE AGREEMENTS ARE PART OF THE BINDING CONTRACT BETWEEN YOU AND US FOR YOUR ACCOUNT AND DEPOSIT RELATIONSHIP.
Please note that Arival Bank may change the fees/transactions fee described herein at any time, but any change will be communicated to you with at least thirty (30) days notice. Notwithstanding the foregoing, we commit to stay transparent with the fees charged prior to entering into a banking relationship with you.
If not otherwise specified, fee payments on the account will be due on the first (1st) day of every month and will be automatically deducted from your account. In the event we are unable to process the payment due to insufficient funds on your account, you will be notified by email.
Your account’s use will be limited until you initially fund your account up to the Minimum Required Balance. If your Account’s balance drops below the Minimum Required Balance, you will have 14 days to increase your Account balance up to the Minimum Required Balance. Failure to do so within 14 days will result in your Account becoming restricted. Continuing to maintain an Account balance below the Minimum Required Balance beyond 14 days may result in account closure.
| Plan Name | Individual Plan | Promo Individual Plan |
|---|---|---|
| Application Fee¹ | $50 (non-refundable) | $5 (non-refundable) |
| Onboarding Fee | $0 | $0 |
| Minimum Required Balance² | $500 | $50 |
| Monthly Fee | $25 (waived if avg balance > $25K) | $5 (waived if avg balance > $25K) |
| Free Transactions Per Month | 10 (only if avg balance > $100K) | 10 (only if avg balance > $100K) |
| FDIC Insurance³ | $250K | $250K |
| ACH Incoming | $3 | $3 |
| ACH Outgoing | $3 | $3 |
| Domestic Wires Incoming | $15 | $15 |
| Domestic Wires Outgoing | $20 | $20 |
| International Wires Incoming | $30 | $30 |
| International Wires Outgoing | $35 | $35 |
| Transfers Within Arival Network | $0, $5 for transfers of $10K or above to Arival business accounts | $0, $5 for transfers of $10K or above to Arival business accounts |
| Between Own Arival Accounts | $0 | $0 |
| Transaction Confirmation Receipt | $50 | $50 |
| Returned Item | $25 | $25 |
| Bank Letter | $25 | $25 |
| Early Account Closure Fee⁴ | $10 | $10 |
1. Arival charges a one-time non-refundable application fee
2. Outgoing payment/transfer functionality and bank letter issuance will be restricted on any account with a balance less than the required minimum balance.
3. Arival Bank International Corp. is licensed and regulated by the Office of the Commissioner of Financial Institutions(OCIF) in Puerto Rico as an International Financial Entity (license #IFE-065). Arival Bank International Corp. is not directly insured by the FDIC. FDIC insurance coverage (with the standard maximum deposit insurance coverage up to $250,000) is provided by our correspondent banking partner, Quaint Oak Bank, Member FDIC.
4. The early account closure fee will be charged if the account is closed within the first 3 months from the day of signing the Online Banking Agreement. Arival reserves the right to apply a different pricing schedule to your account, as agreed upon on a case by case basis. Regardless of that, we commit to stay transparent with the fees charged prior to entering into a banking relationship with you.