Provides easy access to funds while earning a Money Market variable rate on interest. Minimum balance to earn interest is $1,000.00.
Rate Information: This Account is an interest bearing account. The interest rate and annual percentage yield will depend upon the average daily balance in the account as shown on the Rate Chart. The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on the account daily. Interest begins to accrue on the business day you deposit noncash items (for example, checks). Interest will be compounded daily and will be credited to the account monthly. If the account is closed before interest is credited you will not receive the accrued interest.
- Balance Information: We use the average daily balance method to calculate interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
- Limitations: You must deposit $1,000.00 to open this account. You may make six (6) transfers from your account each four (4) week or similar period, if by preauthorized or automatic transfer, or telephone (including data transmission) agreement, order or instruction. Six (6) of these transfers may be made by check, draft, debit card or similar order (including POS transactions), made by the depositor and payable to third parties.
- Account Fees: Minimum daily balance of $1,000.00 is required to avoid a $5.00 service charge per statement cycle.