Business Savings
Business Savings
| Summary |
Designed For
| Any size business with extra funds to earn interest on |
| Opening Requirements | $50 |
| Maintenance Fee | $6/quarter |
| How To Avoid or Reduce Maintenance Fee | $100 daily minimum balance requirement per statement cycle |
| Transaction Allowance | Limit of six (6) preauthorized transfers from your account each month per Federal Regulation D 1 |
| Earns Interest | Yes |
| Interest Tiers | $0 - $999 $1,000 + |
| Online Banking | Yes |
| Extras | - Quarterly statement cycle and interest compounding
- Free combined statements
- eStatements available
|
| Additional Fee Information | Please refer to Schedule of Service Charges & Fees |
1 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.