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A business money market account can help you earn higher interest than a traditional savings account. It also gives you the flexibility to write a limited number of checks, so it's a hybrid that can help you get the most out of your business banking. |
Is A Money Market Account Right For My Business?A money market account is a tiered interest rate account for our customers who maintain higher balances and don't write many checks per month. Check images are included with your statement. You may receive up to five free photocopies and a free initial trust consultation. The purchase fee is also waived on five personal money orders per month. There is a $2,500 minimum deposit required to open the account, and a $10 monthly service charge will apply if the account dips below the $2,500 minimum balance. Interest is payable on the average available balance. *The average daily balance is determined by adding the full amount of principal in the account for each day of the statement cycle and dividing that figure by the number of days in the statement cycle. The annual percentage yield (APY) is based on monthly compounding. The interest rate and annual percentage yield (APY) are variable and may change. The annual percentage yield (APY) assumes interest remains on deposit and is determined based on the current rate and minimum deposit required to open the account. Withdrawal of interest will reduce earnings. |
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