Business Banking

Business Savings Account Disclosure

  • At our discretion, we may change the interest rate on your account
  • We may change the interest rate on your account at any time
  • There are no maximum or minimum interest rate limits for this account
  • Interest will be compounded daily and credited to your account quarterly
  • If you close your account before interest is credited, you will not receive accrued interest
  • You must deposit $100 to open this account
  • A monthly maintenance fee of $1.00 will be assessed every month if the balance in the account falls below $25.00 on any day
  • We use the daily balance method to calculate the interest on your account – This method applies a daily periodic rate to the principal in the account each day
  • Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks)
  • You may make three withdrawals per month at no charge
  • A $1.00 fee will be assessed for each withdrawal over three if minimum daily balance is less than $2,500
  • Refer to the Fee Schedule page for additional fees that may be assessed
  • Federal regulations limits the number of checks, telephone transfers, online transfers and preauthorized electronic transfers to third parties (including Point of Sale transactions) from money market and savings type accounts.
  • You are limited to six such transactions from each money market and/or savings type account(s) you have each month for purposes of making a payment to a third party or by use of a telephone or computer.
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