Disclosures
Beyond Banking and CMA® accounts are securities accounts with Merrill Lynch, Pierce, Fenner & Smith Incorporated. The accounts provide access to services and products offered by licensed banks, including checking and FDIC-insured deposits that are held at the banks. Securities, mutual funds and other non-deposit investment products available through the accounts are not FDIC-insured, not guaranteed by a bank and may lose value.
There is no monthly account fee for Beyond Banking and CMA Plus, providing one of the following requirements is met:
a) The account, together with eligible accounts linked through our statement link service, has assets equal to $100,000 or more, as valued by the prior month's statement. Any outstanding mortgage and home equity line/loan balances with Merrill Lynch Credit Corporation will be treated as "assets" and will be added to the asset total; or
b) The account itself has an Average Deposit Balance in the Merrill Lynch bank deposit program of $5,000 or more, as valued by the previous month's statement. The Average Deposit Balance is calculated by aggregating all daily Merrill Lynch bank deposit program balances from the first day in the prior month's statement period to the last day of the prior month's statement period, divided by the number of days in the prior month’s statement period. Other cash or money account balances, such as the CMA Money Funds, do not count toward this calculation. If either requirement (a) or (b) is not met, a $15 per month fee will apply. Establishment and maintenance of a Merrill Lynch CMA or retirement account and payment of the annual or custodial fee is required to maintain a Beyond Banking account.
Additional Beyond Banking accounts linked to the same CMA or retirement account will incur an annual fee of $75 (in addition to the Beyond Banking monthly fee), if applicable.There is an annual $125 fee for the CMA® account enrolled in the CMA Plus service. This is in addition to the monthly fee, if applicable.We may terminate your enrollment in CMA Plus without notice if you are not incurring the monthly fee but we determine, in our sole discretion, that you are not receiving the benefits of CMA Plus. Please note this termination will also terminate your enrollment in our electronic bill payment service.
The Merrill Lynch Visa Signature Rewards card is an optional feature of the Beyond Banking or CMA® account and has an annual fee of $95. Signature Rewards terms and conditions apply. For more information on rates and fees, refer to card.ml.com. Benefits are subject to card usage, availability and other significant restrictions. See Program Rules at card.ml.com or speak with your Financial Advisor.
Effective Jan. 01, 2009, Merrill Lynch customers will be able to benefit from the nation's largest network of bank-owned ATMs, and use their Merrill Lynch credit, debit, or deferred debit cards to take cash advances or make cash withdrawals from their Merrill Lynch accounts at any Bank of America ATM with no ATM fee.
1 Bank of America has more than 18,000 ATMs nationwide. The new benefit applies to all Merrill Lynch-issued /branded credit, debit, and deferred debit cards.
2 1 Applies to ATM surcharges only. Foreign exchange and cash advance fees may still apply.
2 This benefit does not apply to First Republic Bank ATM Debit Cards, which are issued by Merrill Lynch Bank & Trust Co., FSB, and does not impact First Republic Bank's existing ATM rebate program.
Refunds of up to $200 per year. Merrill Lynch will charge $1 per ATM transaction after the first 100 transactions per calendar year. To complete some transactions, you may be required to accept an ATM operator charge. The amount of your ATM withdrawal, including the service charge and the refund of that charge, will appear on your monthly statement. Some ATM owners and operators may limit accessibility or impose limits on withdrawal amounts and frequency.
Although you may select a bank sweep program for your cash balances, deposits to a CMA or Beyond Banking account are not bank deposits.