Business Demand Deposit Account
This is your basic business checking account. It is designed to allow you, as a business, to use your balance to offset fees imposed for your banking needs. This account receives earnings credit the bank uses to pay most fees, both service and transaction, associated with this commercial checking account.
- Monthly statements with imaged checks and deposit tickets
- No maintenance and no per item charge for non-profit business accounts
- You will earn $0.15 for each $100 of the average daily balance in your account during a statement cycle used to offset fees assessed to your account
- $3 monthly maintenance charge
- $0.10 will be charged for each debit transaction (withdrawal, check paid, automatic transfer or payment out of this account)
- An overdraft charge of 18% will be charged on the daily overdraft balance
Business Money Market Account
Earn interest and write up to three checks per statement cycle with this commercial account. The interest rate is paid on tiered balances, $10,000 - $24,999 and over $25,000.
- $10,000 minimum deposit to open the account
- $25 maintenance fee per statement cycle
- Interest is earned on the average daily balance, at rates in effect for your account. To earn interest your average daily balance must be $10,000.
- Interest is compounded and credited to your account monthly
- Check writing and withdrawal limitations: Regulations limit transfers from this account to another account or to third parties by preauthorized, automatic or telephone transfer.
- This limit is six per statement cycle with no more than three by check, draft or similar order of third parties. An activity fee of $1 per item in excess of six will be imposed.
Grundy National Bank may require not less than 7 days notice in writing before each withdrawal from an interest-bearing account as defined by Regulation D. Withdrawals from a time account prior to maturity or prior to any notice period may be restricted and may be subject to penalty. See your Notice of Penalty for early withdrawal.