Are you interested in solid interest rates while having total access to your
funds? First Banking Center's Insured Indexed Money Market Savings account
gives your business the opportunity to earn higher interest on liquid assets.
The account is tiered to offer a higher rate of interest to businesses maintaining
slightly higher account balances. As the account grows to a new tier, the
funds automatically start earning a higher rate of interest.
The interest rate on the Insured Indexed Money Market Savings account could
change weekly. The annual percentage yield on the $10,000 and over tier will
pay a range between 75%-125% of the average seven-day simple yield on taxable money market
funds as published in the Wall Street Journal the previous Thursday. The annual
percentage yield on all other tiers are solely determined by the bank.
Should the account balance fall below the $1,000 average daily balance for the month, a $20 service fee will be charged and interest credited to
the account will drop to no less than the Business Savings account rate. After six debits of any type per month, a $5 fee will be charged for
each withdrawal.
Account pricing/activity limits may vary in certain locations.
Please call your nearest branch for details.
For your protection, it is the policy of First Banking Center to prohibit check
cashing, or cash back deposits, on checks made payable directly to your business.
These checks will be accepted for deposit only.
Products could change at any time without notice. See our Business Fee Schedule for information on service fees.
Collected balance is cash in your account plus deposited checks that have been
presented to the bank the check is drawn on and for which payment has actually
been received by First Banking Center.
For interest bearing accounts: We reserve the right, at any time, to require
not less than 7 days notice in writing before each withdrawal from an interest
bearing account other than a time deposit, or from any other savings account
as defined by Regulation D. Current interest rates are available in the bank
lobby and are subject to change without notice.
Federal regulations limit pre-authorized, electronic, or telephone withdrawals to six per month (in-house and ATM transactions are not included). No more than three of the six may be checks or debit cards.
We use the average daily balance method to calculate the interest on your account. The average daily balance is the sum of the balances
in the account for each day in the period (month or statement cycle) divided
by the number of days in the period.
