Business Money Market Account
Minimum balance to open the account
- You must deposit $1,000.00 to open this account.
Minimum balance to avoid imposition of fees
- A service charge fee of $10.00 will be imposed every statement cycle unless you maintain a daily balance of $10,000.00 for the monthly statement cycle.
6 debit transactions are allowed per statement cycle, with no more than 6 of those by check, third party, or pre-authorized debits.
- $10.00 fee for each excessive debit.
- Interest compounded and credited monthly and paid on the ledger balance.
- Your interest rate and annual percentage yield may change.
Frequency of rate changes
- We may change the interest rate on your account at any time.
Compounding and crediting frequency
- Interest is compounded and credited monthly.
Daily balance computation method
- 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.