business > Savings, Money Markets & CDs > Business Advantage Money Market

Business Advantage Money Market

Business Advantage Money Market 1 Summary
Designed For
Businesses that have the Business Advantage Checking and desire an automatic sweep feature to a money market to earn interest
Opening Requirements $50
Maintenance Fee N/A
How To Avoid or Reduce Maintenance Fee N/A
Transaction Allowance Limit of six (6) preauthorized transfers from your account each month per Federal Regulation D 2
Earns Interest Yes
Interest Tiers

$0 - $24,999

$25,000 - $49,999

$50,000 - $99,999

$100,000 - $249,999

$250,000+

Online Banking Yes
Extras
  • Monthly Statement cycle
  • Free combined statements
  • eStatements
  • Business Debit Card
  • Business Credit Card
Additional Fee Information Please refer to Schedule of Service Charges & Fees

1 The Business Advantage Money Market is available only with the Business Advantage Checking account.  Not available as a stand-alone product.  With the optional Business Advantage Money Market Sweep service, an automated sweep transfer is established between a noninterest-bearing Business Advantage Checking account ("Checking") and an interest-bearing non-transaction Business Advantage Money Market account ("Money Market") based upon a target minimum and maximum balance on the Checking account.  Transactions are allowed only on the Checking and direct access to the Money Market is not available.

2 Federal Regulation D limits certain types of withdrawal and transfer transactions you can make out of your savings or money market account to a maximum combined total of six (6) preauthorized transfers per month.  These transactions include automatic transfers for overdraft coverage to your checking account, checks, drafts or similar other withdrawals payable to third parties, point-of-sale (POS) purchase transactions with an ATM/debit card, or by preauthorized or automatic payment transfers (including ACH and wire transfers) via telephone or online (including Bill Pay). Excessive transactions may result in the Bank, at its discretion, either closing your account or changing your account to a noninterest-bearing account.

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