Money Management

  • To qualify, you must have an existing Bank of Clarkson personal checking or NOW account. Not available for brokered or public funds deposits.
  • Your interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on your account on the first day of each month.
  • Interest will be compounded monthly and credited to your account the last business day of each month. If you close your account or change account type before the interest is credited, you will not receive the accrued interest.
  • A $5,000 minimum balance is required to earn the interest.
  • There is no service charge, however, if the average monthly balance falls below $5,000 your account will not earn any interest for the whole month.
  • This is a limited transaction account. You are limited to five (5) in-house withdrawals per month.
  • Interest begins to accrue on the business day you deposit noncash items (for example, checks). Items are counted on the statement for the month they clear the account, not when the transaction occurs.
  • We use the average daily balance method to calculate interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
  • Withdrawals by debit card or at authorized teller machines are prohibited. Personal checks will not be available for this account. Also, debit cards or ATM cards will not be issued for this account. All withdrawals must be made in-house.
  • Monthly statement with check images.
  • Overdraft Privilege- Payments of overdrafts are at the discretion of the bank and may be revoked at any time. Overdraft fees will apply.
  • Free monthly paperless statements.
  • Free On-line Banking.
  • Free Telephone Banking.
  • See Other Services and Fee Schedule.
 
 
Last updated on Jul 10, 2015

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