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Business Money Market
Account Description: This account is ideal for
businesses who wish to invest funds, but also need the ability to write a
check every once in a while. This account generally pays our highest rate
compared to other interest-bearing checking accounts offered by the bank.
Requirements:
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Minimum deposit to open account - $2,500.00
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Benefits:
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Interest is compounded daily and credited to your
account every statement cycle |
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No monthly service charge if daily balance is kept
at $2,500 or higher, otherwise a fee of $10 will be assessed. |
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Eligible for all types of businesses |
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Tiers for interest earnings:
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$2,500 - $9,999 |
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$10,000 - $24,999 |
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$25,000 and above |
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Withdrawal Limitations:
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Transfers from a Money Market account to another
account or to third parties by means of a preauthorized, automatic,
electronic, or telephone transfer, check, draft, debit card, or similar
order made payable to third parties are limited to six per statement
cycle. |
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An excessive item charge of $10.00 will be charged
for each debit transaction (withdrawal, check paid, automatic transfer
or payment out of this account) in excess of six during a statement
cycle
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