CHECKING ACCOUNTS
Business Checking Account
Qualified Now Account
Money Market Account
This disclosure contains information about terms, fees, and interest rates for some of the accounts we offer. Interest Rates and Annual Percentage Yields are current as of May 1, 2000. For current rate information call (775) 753-3800 or toll free (887)226-5482.
BUSINESS CHECKING ACCOUNT
A non-interest bearing account for all business. Service charge based upon balance and activity.
Limitations: $100 deposit required to open the account.
Account Fees: A $5 monthly maintenance fee, which can be offset by an earnings credit on the average daily available balance. Earnings credit rate is based on the previous months average 91-day T-Bill discount rate, rounded to the nearest quarter of one percent, changed monthly. In addition, there is a per debit charge of 17 cents per item paid, 6 cents per item for each not-on-us check deposited; and other charges which may be determined by mutual agreement between the depositor and the bank.
QUALIFIED NOW ACCOUNT
This is an interest bearing account, available to business customers, who qualify. Includes not-for-profit, single proprietorship, and some doing business as (DBA) accounts.
Balance Information: The daily balance method is used to calculate interest. This method applies a daily periodic rate to the principal of the account each day.
Limitation: $100 deposit required to open the account.
MONEY MARKET ACCOUNT
This is a limited transaction, interest-bearing checking account.
Balance Information: The daily balance method is used to calculate interest on this account. This method applies a daily periodic rate to the principal balance each day.
Limitations: $2500.00 is required to open the account. You may make six (6) transfers from your account each statement cycle period, by pre-authorized, automatic transfer, or telephone (including data transmission) agreement, order or instruction. Three (3) of these transfers may be made by check, draft, debit card, or similar order (including POS transactions) made by the depositor and payable to third parties. Transfers and withdrawals made in person, by messenger, by mail, or at an ATM are unlimited.
Account Fees: A $10 charge will be assessed if a balance is $2500.00 or higher is maintained. A charge of $5 will be made for excessive withdrawals. Continued violation of the excessive withdrawals will necessitate the account type being changed.
