- $5,000.00 minimum to open.
- 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.
- 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.
- There is no service charge, however, you must maintain a minimum daily balance of $5,000.00 in the account each day to obtain the disclosed annual percentage yield. You will earn interest for every day during the period that your account equals or exceeds the minimum daily balance requirement.
- This is a limited transaction account. You are limited to five (5) in-house withdrawals 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.
- 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 daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principle in the account each day.
- 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.
- Free monthly paperless statements.
- Free On-line Banking.
- Free Telephone Banking.
- See Other Services and Fee Schedule.
Last updated on Aug 10, 2018