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Thursday, April 24, 2014

Commercial Savings and Money Market Accounts

DMB Community Bank offers several savings options to help you meet your business savings and investment needs. Whether you’re saving for future expenses or looking for a safe place to invest capital, we have an account for you! Click Here to see our current rates.

 
Opening Balance and Average Balance to Avoid Service Charge
$200
$1,000
$10,000
$25,000
Service Charge
$2
$6
$10
$10
Debits per Month*
4 Withdrawals
6 Pre-authorized or Automatic Transfers or Withdrawals
6 Pre-authorized or Automatic Transfers or Withdrawals
6 Pre-authorized or Automatic Transfers or Withdrawals
Checks
No
Yes
No
Yes
Excess Debit Fee
$0.50 Each
$3 Each
$3 Each
$3 Each
Interest Paid
Quarterly
Monthly
Monthly
Monthly

*Per Federal Regulation D, you may not make more than six (6) transfer and withdrawals from your account per month by means of a pre-authorized or automatic transfer or telephone (including data transmission) agreement, order or instruction or by check, draft, debit card or similar order payable to third parties.

Basic Savings – Perfect for the small business or non-profit organization that needs a safe and economical savings account. This account requires just a $200 opening deposit and a $200 minimum balance. You’re allowed up to four withdrawals per month without a service charge.

Money Market Checking – This account is perfect for you if your savings balance is generally over $1,000, but less than $25,000 since it pays a higher rate of interest than our Basic Savings account. To top off the benefits, you can also write up to (6) third-party checks per month from this account – perfect for those occasional payments that you’ve saved for, like taxes or insurance premiums.
 
Money Marketing Platinum Checking – This account is much like the Money Market Checking above, but for balances of $25,000 or more. In exchange for a larger deposit, we generally pay you a higher interest rate.
 
Money Market Premium – Ultimately a high-rate savings account, the Money Market Premium account is ideal for you when your savings balance is greater than $10,000 and you don’t want or need the check-writing benefits that the Money Market Checking or Money Marketing Platinum Checking accounts offer. Since you don’t need the check-writing capabilities, we generally pay you a higher rate of interest on this account than the money market checking accounts listed above.
 
For more information on our Commercial Savings and Money Market products and services, please Contact Us or call a Financial Services Representative at 608-846-3711. 
 
Looking for a checking account as well?? Click here to see DMB’s Commercial Checking account options.