Business Banking Accounts

Savings

To open a Savings Account you must deposit $25.

• Your interest rate and annual percentage yield may change. We may change the interest rate on your account daily.
• Interest begins to accrue on the business day you deposit noncash items (for example, checks). Interest will be accrued on a daily basis and credited and compounded to your account on the last day of each calendar quarter unless the account has an ATM card or ACH activity, then it will be at the end of each monthly statement period.
• We use the daily balance method to calculate interest and fees on your account. This method applies a periodic rate to the daily balance in the account for the period.
• Each preauthorized transfer to checking to cover overdraft fee is $2.00.You may make six (6) preauthorized, automatic, or telephone transfers monthly from your account. Transfers included within the six transfers allowed for savings accounts are as follows:
  1. Telephone Transfers (including transfers initiated by a Telephone Banking service).
  2. Debit Card/Point of Sale
  3. Checks (limited to checks payable to Third Parties).
  4. ACH
  5. Sweeps (debits to cover an overdraft or low balance in a different account).
  6. Online Banking (Bank services obtainable through home or business computers