Business Savings
Safely put away money for the future while earning interest.
Safely put away money for the future while earning interest.
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| business savings | money market | certificates of deposit (CD) | Insured Cash sweep (ICS) | |
|---|---|---|---|---|
| Minimum Opening Deposit | $500 | $1,000 | $500 | N/A |
|
Interest
(Compounded daily, paid and reported per statement cycle)
|
 |
 Tiered based on account balance
|
 Based on account balance and term
|
Accrued and compounded daily using a daily rate based on balance
|
| Monthly Maintenance Fee | $0 or $41 | $0 or 61 | _ | - |
| Balance Requirement to Avoid Monthly Fee | $500 | $1,000 | _ | - |
|
Number of Withdrawals Per Statement Cycle at No Charge
Government regulations limit savings and money market accounts to six transfers or withdrawals per month. Withdrawals or transfers made in person at the bank, by mail, or by using an ATM do not count toward the six.
|
2 |
6
|
_ | 6 |
| Fee Per Excess Withdrawal | $3 | $5 | Penalties may apply | - |
| Electronic or Paper Statement at No Charge |  |
 |
Paper maturity and renewal notices | |
1Monthly maintenance fee waived when minimum account balance requirement is met.