Open this account with a minimum deposit of $2,500.00 and you will earn our highest current market rate. This account also allows you to write up to six checks per month and make as many in-bank withdrawals or in-bank transfers as you desire.
- This account is an interest bearing account. Any day your daily balance is below $2,500.00 and above $499.99, you will earn interest at the NOW Account interest rate. On the days that the balance is below $500.00, the account will not earn interest. The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on the account. We may change the interest rate on the account daily. Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example: checks). Interest will be compounded monthly. Interest will be credited to the account monthly. If you close the account before interest is credited, you will not receive the accrued interest.
- We use the daily balance method to calculate the interest on the account ("Balance"). This method applies a daily periodic rate to the principal in the account each day.
- You must deposit $2,500.00 to open this account. There is no limit to the number of withdrawals made in person, by mail or messenger, or at automated teller machines. You may make six (6) transfers from your account each four (4) week or similar period, but only (3) may be payments by check to third parties. For each transaction beyond the allowed number, there is a charge of $3.00 per transaction. If you continue to violate these limits after we have contacted you, we will close the account and place the funds in another account that you are eligible to hold.
- If you maintain a daily balance of at least $1,500.00 every day of the month, there will be no maintenance fee. If you do not, an account maintenance fee of $10.00 will be assessed.
- A $5.00 monthly inactivity fee will be charged for inactive accounts with balances of $50.00 or less. This fee can be avoided by keeping your account active. An account becomes inactive after one year of no activity on the account. Activity is defined as any transaction, such as a withdrawal, deposit, bill payment or ACH payment. An account inquiry, such as checking your balance in Option Online (internet banking) or at an ATM, is not a transaction and does not count as activity. If the account balance is less than $5.00, the account will be debited for the remaining balance and the account will be closed.