Business Money Market Checking
- $100.00 minimum balance to open
- $20.00 monthly service charge
- Waived with a minimum daily balance of $2,500.00 during the calendar month.
- Fees: An excessive debit fee of $5.00 will be charged for each debit transaction (withdrawal, check paid, automatic transfer or payment out of this account) in excess of six (6) during a calendar month.
- Transaction limitations: Transfers from a Commercial Money Market account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer or by check, draft, debit card or similar order to third parties are limited to six (6) per calendar month.
- Violation of the transaction limitations – Violations may result in Account Type Change.
- Rate information – the interest rate and annual percentage yield may change at any time at our discretion.
Interest will be compounded every month and credited to the account each statement cycle. 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 on the business day you deposit noncash items (for example, checks).