|
Farmers State Bank
PERSONAL MONEY MARKET ACCOUNTS
To
open your account you must deposit $2,500.00.
A minimum balance fee of $4.00
will be imposed every month if the balance in the account falls
below $2,500.00 any day of the month.
You must maintain a minimum balance of $2,500.00
in the account each day to obtain the disclosed annual percentage
yield.
Interest will be compounded on a monthly
basis.
Interest will be credited to your account on
a monthly basis.
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.
- You may make 6 preauthorized withdrawals
from your account per month (to another account of the depositor
at the same bank or to a third party). Of these six transfers,
no more than three may be made by check or draft.
- An automatic or preauthorized loan payment
from a Money Market account to the bank itself is not counted.
- A single transfer to another account of the
depositor in the same bank is not counted if the transaction is
made by mail, messenger, or in person. These transfers are not
counted in the limitation because they are not preauthorized,
automatic, or telephonic.
- A withdrawal made directly to the depositor
is not counted if the withdrawal is made by mail, messenger, in
person, or by telephone. Note that telephonic withdrawals are
not counted, but telephonic transfers (where the check is mailed
to the customer) are counted.
- Deposits or transfers into the Money Market
account are not counted.
- Interest begins to accrue no later than the
business day we receive credit for the deposit.
The following fees may be assessed against your
account:
- Fee for each check you write on this account
$0.13.
- Fee per month for not maintaining a $2,500.00
minimum balance everyday of the cycle period.
Contact a Farmers State Bank representative at (888) 879-2183 or
email us for more
detailed information on Money Market accounts.
|
