Money Market Savings. You may make unlimited withdrawals or transfers to other First Bank accounts in person or at an ATM from your money market account. However, federal regulations limit third party transactions or preauthorized transfers from your account (including overdraft transfers), check or debit card or similar orders payable to third parties, or transfers made by personal computer (including online banking or bill payment services) or telephone (including fax or data transmission) to six (6) per month. Our practice is to monitor the number of limited transactions. If you are counting the number of transactions you make each statement period, please note that we count an item on the date we post it to your account. This date may be different that the date you authorize, transfer or write the item, which means the item may not be counted until a later statement period. If you frequently (more than two times in twelve months) exceed the transaction limits, we may convert your account to another type of account or we may close your account. We will send you notice with information about your new account before we convert your account. For some accounts, we may charge you a fee for each transaction that exceeds the limits described above. Sweep Account Disclosure. The Xxxx-Xxxxx Act provides unlimited FDIC insurance for non-interest bearing transaction accounts and IOLTA accounts. Under that program, through December 31, 2012, all non-interest bearing transaction accounts and IOLTA’s are fully guaranteed by the FDIC for the entire amount in the account. Coverage under the Xxxx-Xxxxx Act is in addition to and separate from the coverage available under the FDIC’s general deposit insurance rules. However, funds that are swept out of your non-interest bearing transaction account pursuant to a sweep agreement you have with us are not covered by the FDIC guarantee while such funds are not in your non-interest bearing transaction account. The funds held in the interest bearing deposit account are insured up to the current FDIC coverage limit of $250,000 per depositor. You can learn more about FDIC deposit insurance coverage by reading your Insured Deposits: FDIC’s Guide to Deposit Insurance Coverage, which is available xxx.xxxx.xxx/xxxxxxx/xxxxxxxx/xxxxxxx/xxxxx.xxxx. Withdrawal Notice. Federal regulations require the Bank to retain the right to require you to give us at least seven (7) days notice in writing prior to any intended withdrawal from savings, NOW or money market acc...
Money Market Savings o An Interest bearing account. • Minimum Balance o No minimum deposit required to open or earn interest. o $5,000 average balance required to avoid $15.00 monthly fee. • Fees o Non-Allpoint ATM withdrawals $2.50 each. o Paper statements $2. No fee for eStatements.
Money Market Savings
