Friday, May 24, 2013

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Business Money Market


Earn interest and enjoy immediate access to your funds with a tiered First Citrus Bank Business Money Market account. It's flexible and offers a variety of advantages.

  • Minimum to open: $2,500
  • With a minimum daily balance of $2,500 - No maintenance fee
  • $14.00 monthly maintenance fee, if applicable
  • 6 transfers or 6 checks to a third party allowed per statement cycle (or a combination of both), per Federal Regulations
  • Additional withdrawals just $5.00 each
  • Detailed monthly imaged statements
  • Complimentary Internet Banking Interest bearing and compounded for these daily balances:
  • Tier I
  • Tier II
  • Tier III $2,500 - $49,999.99 $50,000 - $99,999.99 $100,000 and up


Rate Information: Interest begins to accrue no later than the business day we receive the credit for the deposit of non-cash items. Interest will be compounded daily, and credited to the account monthly. The interest rate is subject to change.

Balance Information: We will use the daily balance method to calculate the interest on the account, which applies a daily periodic rate to the principal in the account each day. The customer must maintain a minimum daily collected balance of $2,500 to obtain the disclosed annual percentage yield. No interest will be earned in days which the balance falls below $2,500.


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NOTICE OF EXPIRATION OF THE TEMPORARY FDIC INSURANCE COVERAGE FOR NONINTEREST-BEARING TRANSACTION ACCOUNTS

By operation of federal law, beginning January 1, 2013, funds deposited in a noninterest-bearing transaction account (including an Interest on Lawyer Trust Account) no longer will receive unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation (FDIC). Beginning January 1, 2013, all of a depositor's accounts at an insured depository institution, including all noninterest-bearing transaction accounts, will be insured by the FDIC up to the standard maximum deposit insurance amount ($250,000), for each deposit insurance ownership category. 
 
For more information about the expiration of temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.