Business Savings Accounts
| Business Money Market | Business Savings | |
|---|---|---|
| Benefits | Interest bearing liquid account | Interest bearing liquid account |
| Earns Interest | YES | YES |
| Minimum Balance to Avoid Maintenance Fees | $2,500 | $50 - If below minimum, $5 per quarter fee. |
| Transaction Fees Apply | 3 debits allowed per statement cycle to 3rd parties. Up to 6 total transactions allowed per statement cycle. $6 per excess transfers or checks. |
$2 per withdrawal in excess of 6 per statement cycle. |
| Business Debit Card | N/A | N/A |
| Minimum Opening Amount | $2,500 | $50 |
| Online Services | Online Banking, Cash Management, Merchant Services, Remote Capture Deposit Services | |
Quarterly Savings Account
A statement savings account is a convenient way to build your savings by earning quarterly interest at competitive rates. With a low required minimum balance and no monthly service charge (as long as required minimum balance is met), saving money couldn't be easier!
Minimum to open account is $50.
Business Money Market Accounts
American Midwest Bank has a variety of business money markets to choose from. A Money Market account offers the ultimate in priority savings rates from American Midwest Bank. You pay no monthly service fee with a required minimum balance, and earn high monthly interest at tiered rates.
If minimum balance requirement is not met, a service charge of $10 applies.
Variable rate of interest accrues on all daily collected balances and is compounded monthly.
All transactions are recorded in monthly statements.
* Important Notice: Federal regulation limits the number of withdrawals and/or transfers that may be made from a savings account by telephone/PC transfer, preauthorized transfer, check or debit card. You are limited to six withdrawals and/or transfers from your savings account each monthly statement cycle by preauthorized transfer, or telephone/PC transfer (including bill payments). And, if the account permits transfers by check or debit card, no more than three of the six limited transfers may be by check or debit card.
