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BUSINESS MONEY MARKET

 

  • $1500 minimum deposit to open
  • No service charge if balance is $1500 or more
  • $7.00 monthly service charge for balance below $1500
  • Interest earned on balance of $500 or more
  • Interest compounded monthly
  • Detailed monthly statement

Regulation D
 
Limited Number of Transfers or Withdrawals Permitted
Limited to six (6) transfers or withdrawals per month or statement cycle (of up to four weeks).

  • Transfers or withdrawals by way of check, draft, debit card, or similar order made payable to a third party
  • Transfers or withdrawals to another account of the same depositor at the same institution or a third party, if made by way of a preauthorized transfer, automatic transfer, by telephone, including fax, or with the institution's home or Internet banking service

Unlimited Number of Transfers or Withdrawals Permitted

  • Automatic or preauthorized transfers or withdrawals for the purpose of repaying loans held at the same institution
  • Transfers or withdrawals made by mail, messenger, automated teller machine, or in person to another account of the same depositor at the same institution
  • Withdrawals initiated by telephone provided the funds are distributed by way of a check mailed to the depositor