Description - Our interest bearing checking
account for all businesses.
Minimum balance to open account - $1,000.00 Rate
Information - Your interest rate and annual percentage
yield may change.
Determination of rate and frequency of change -
Rates are determined at the discretion of bank
management. We may change the interest rate on your
account at any time.
Compounding and crediting frequency - Interest
is compounded daily and credited to your account
Daily collected balance computation method - We
use the daily collected balance method to calculate
the interest on your account. This method applies a
daily periodic rate to the principal in the account
Accrual of interest on non-cash deposits -
Interest begins to accrue no later than the business
day we receive credit for the deposit of non-cash
items (for example checks). If the account is closed
before interest is credited, you will not receive the
Fees - You must deposit $ 1,000.00 to open this
account. There is a $8.00 monthly service fee on this
account. This account offers free online banking,
mobile banking, and debit card access. Image
statements are available for a fee. Please see
separate fee chart for these services. A cash machine
transaction fee of $2.00 will be charged for each
transaction performed at a machine that is not owned
by Community National Bank.