Fee Schedule

Effective February 1, 2012

Debit MasterCard™/ATM Card Fees

• All Transactions made at MITFCU ATMS - free
• Point-of-Sale Transactions - free
• ATM Surcharge Fee (after 8 free ATM withdrawals/month at non-MITFCU ATMs) - $1.00°
• ATM Surcharge Fee (after 8 free ATM balance inquiries/month at non-MITFCU ATMs) - $.50°
• Card Replacement Fee - $15.00*
• Emergency Card Replacement Fee - up to $75.00
• Use of Out-of-Network Cards at MITFCU ATMs - $2.25

Currency Conversion & Cross Border Transaction Fees (Includes any transaction converted to U.S. currency and any cross border transactions where the licensed MasterCard© merchant and the issuer are located in different countries.) - Up to 2% of the transaction amount

Tip: To avoid going over your eight free monthly non-MITFCU ATM withdrawal limit, ask for cash back when you use
        your Debit MasterCard for purchases. This is not considered a non-MITFCU ATM withdrawal. You can also use
        MIT TouchTone Teller and e-Branch to conduct account inquiries and transfers at no cost.

Tip: To avoid paying surcharge fees from other financial institutions, please use ATMs in the following networks:
        SUM, CO-OP, or MoneyPass.

All Checking Accounts
 

• First Order of Basic Checks - free
• Member Check Order, based on style - varies**
• Nonsufficient Funds Fee (each) - $25.00
• Uncollected Funds Fee (each) - $10.00
  
• Negative Balance Fee (paid) - $25.00
• Stop Payments (each) - $15.00
• Copy of Check (each) - $5.00
• Share-to-Share Overdraft Protection (per use) - $5.00

Plus Checking Accounts
 

• Plus Checking Below Minimum Balance Fee (if daily balance falls below $2,500) - $5.00/mos

Select Checking Accounts
 

• Select Checking Below Minimum Balance Fee (if daily balance falls below $10,000) - $8.00/mos

Select Savings Accounts
 

• Subsequent withdrawals and transfers, each (High Yield Savings >1 Withdrawal Fee; One free withdrawal/transfer per calendar month.) - $25.00

Money Market Accounts
 

• Subsequent withdrawals and transfers, each (MMDA >3 Withdrawal Fee; Three free withdrawals/transfers per calendar month.) - $25.00

American Express® Products
 

• Travelers Cheques - free
• Travelers Cheques Gift Cheques (Amex Product Fee) - $2.50*
• Travelers Cheques Gift Cards (Amex Product Fee) - $3.95*

Visa®
 

• Late Payment Fee (each) - $25.00
• Card Replacement Fee - $15.00*
• Emergency Card Replacement Fee -  (2-3 day rush)     - $50.00
                                                                      (same day rush) - $75.00
• Checks or electronic payments returned for nonsufficient funds or uncollected funds (each) - $25.00
• Copy of statement or sales draft (each) - $5.00
• Copy of travel and entertainment draft (each) - $25.00
• Currency Conversion and Cross Border Transaction Fees (Includes any transaction converted to U.S. currency and any cross border transactions where the licensed VISA® merchant and the issuer are located in different countries.) - Up to 2% of the transaction amount

Loans
 

• Late Payment Fee (applies to all consumer loans, home equity loans, and lines of credit) - $25.00
  

Student Loans
 

• Origination Fee - none
• Pre-payment Penalty - none
• Late Fee - 5% of payment amount
• Insufficient Funds Fee - $20.00

Mortgages
 

• Preparation of Confirmation Discharge - $50.00
• Preparation of Subordination Agreement - $50.00

Bill Payment Service
 

• Bill Payment Non Sufficient Funds Fee (each) - $25.00 

Miscellaneous Fees
 

• International Wire Transfer Fee (outgoing) - $30.00
• Domestic Wire Transfer Fee (outgoing) - $15.00
• Return Deposit Check Fee (each) - $25.00
• Statement Copy Fee (each) - $5.00
• Electronic Items Returned Fee (each) - $25.00
• Copy of Canceled Check (each) - $5.00
• Account Levy Fee - $20.00
• Abandoned Account Processing Fee - $50.00
• Account Research Fee - $20.00/hr
• Dormant Account Fee (Starting the 25th month of account inactivity) - $5.00/mos

Transfer Funds Service

• PayPeople - $2.00
• Standard Incoming - free
• Standard Outgoing - $2.00
• Next Day Incoming or Outgoing - $5.00
  
   

* Free for Smart Money Rewards members

** Smart Money Rewards members receive free orders of single, basic style checks, one set per order.
    Call 617.253.2845 during business hours to place your order.

°Smart Money Rewards members receive up to $5.00 per month in ATM surcharge reimbursements