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The Money Market account is a tiered, interest-bearing account, designed to provide you with higher interest yields while retaining liquidity. You can even write checks from this account on a limited basis.
This account is designed for businesses that need higher rates but may need access to their money periodically. Ideal as a "holding tank" for companies that need to move money around on a limited basis. Deposits insured by FDIC up to $100,000.
| Minimum to Open: |
$2,500 |
Minimum Balance:
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$2,500 |
Minimum to Earn APY:
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$.01 |
| Interest Rate : |
Tiered and variable. Check your bank's daily rate report.
| Tier 1 = |
$.01 to $2,499.99 |
| Tier 2 = |
$2,500 to $9,999.99 |
| Tier 3 = |
$10,000 to $24,999.99 |
| Tier 4 = |
$25,000 to $49,999.99 |
| Tier 5 = |
$50,000 to $99,999.99 |
| Tier 6 = |
$10,000 + |
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| Compounding: |
Interest is compounded daily, paid monthly |
| Services Charges: |
- $15 Minimum Balance Fee incurred if balance falls below $2,500 any day of the statement cycle.
- $2 Transaction Fee charged for each debit transaction in excess of 6 per statement cycle. |
| Restrictions: |
Commercial only
Transactions limited to 6 per month, with no more than 3 to third parties |
Can be included with any account:
- Debit / ATM Card †
- 24-Hour Telebanc (Bank by Phone)
- 24-Hour eBanking (Internet Banking)
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