This account is optimal for public entities that maintain higher balances and want to earn competitive interest rates, based on the daily collected balance. The account has a tiered interest rate.
- Monthly Service Charge: $10.00 if the current balance falls below $5,000
- Monthly Item Charges:
- Debit transactions: $0.16 each
- Credit transactions: $0.16 each
- Deposited items (Foreign): $0.10 each
- Deposited items (On Us): $0.07 each
- ACH Debit/Credit Items: $0.11 each
- If the collected balance falls below the minimum amount at any time during the statement period, interest will be forfeited for the entire month.
- If the account closes, accrued interest will be paid up to the day of closure.
- The interest will be paid by crediting the account monthly.
- FirstBank uses the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day.
- The interest rate is variable and compounds monthly. The interest rate and the annual percentage yield (APY) may change at any time.
** Ask for our current rates. Rates are subject to change.
- Monthly imaged statement
- Online Banking