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Money Market Account

Recommended if:

  • Can invest at least $1,000
  • Cannot commit your business funds for a specific period of time
  • Want limited check access to your investment fund
  • Want to earn higher interest as you increase your balance.

Benefits:

  • You can earn interest on your business deposits.
  • Good liquidity with no minimum investment period and limited check access.
  • In-person withdrawals do not count in six-debit limit, which provides more access to funds.

Important Facts:

  • Minimum to open: $1,000
  • Interest is compounded and paid monthly
  • Can make 6 transfers by preauthorized, automatic, check or draft to third parties
  • Monthly statement
  • For average daily balances of $1000 or more, there will be no monthly maintenance fee

Fees:

  • Maintenance Fee: $6 per month maintenance fee if average daily collected daily balance falls below $1000.
  • Withdrawal fee: $5 each after 6 per statement cycle.
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