Money Market Account
- Your interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on your account.
- This is a limited transaction account. Transfers or withdrawals by check, ACH, debit card, telephone, or requests through the internet banking system are limited to six (6) per month. If there is excessive abuse of the limited transactions, Bank of Clarkson has the right to refuse the transfer, convert to a non-interest bearing account, or to close the account. Excessive is defined as more than three abuses in twelve months.
- You are not limited on automatic (preauthorized) transfers for the purpose of paying loans at Bank of Clarkson. There are not limits on transfers or withdrawals made in person.
- Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
- Interest will be compounded monthly and credited to your account on the last business day of each month. If you close your account or change account type before interest is credited, you will not receive the accrued interest.
- We use the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principal in the account each day.
- $1,500 minimum to open
- A service charge of $5.00 each month will be assessed if the balance drops below $1,500 any day of the month.
- You must maintain a minimum average daily balance of $500 in the account each month to obtain the disclosed annual percentage yield.
- Monthly statement with check images.
- Free monthly paperless statements.
- Free On-line Banking.
- Free Telephone Banking.
- See Other Services and Fee Schedule.
Last updated on May 31, 2018