Business Checking Account
Minimum Balance Requirements - The minimum is $100 to open a Business Checking Account.
Money Market Account
Minimum Balance Requirements - The minimum daily balance required to obtain the disclosed APY is $2,000. You must deposit at least $2,000, to open this account. If the balance falls below $2,000 the rate will be equal to the current NOW rate.
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.
Compounding & Crediting - Interest will be compounded every statement cycle (approximately 30 day cycle). Interest will be credited to your account every statement cycle.
Accrual of Interest - Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
Interest Effect at Closing - If you close your account before the interest is credited, you will not receive the accrued interest.
Transactions - Transfers from a Money Market account to another or third parties by preauthorized, automatic, or telephone transfer are limited to six per statement cycle.
Each depositor is insured for up to $250,000 by the Federal Deposit Insurance Corporation (FDIC)..