Business Money Market
Competitive rates and easy to navigate account access with New Tripoli Bank Money Market account!
- Tiered rates allow you to earn more as you save more
- Immediate access to your funds with no penalties for withdrawal
- Unlimited number of deposits
- Unlimited withdrawals and transfers in person, by mail, or by ATM
- Up to six transfers per month using pre-authorized withdrawals, online banking, or telephone banking
- Money Market rate earned with a $1,000.00 balance (business statement savings rate earned if balance falls below $1,000.00)
- Interest compounded daily and paid monthly
- $5.00 monthly fee if balance falls below $1,000.00
- Monthly paper or electronic statements
- Foreign ATM surcharge reimbursements up to $7.00 per month
Effective Date: Saturday, January 18, 2020
$1,000.00 to $24,999.99
$25,000.00 to $99,999.99
$100,000.00 to $499,999.99
$500,000.00 to $999,999.99
$1,000,000.00 and over
Interest rate and APY may change daily after the account is opened. Fees could reduce earnings.
* Interest rate and APY are fixed for the club year.
Rate Information:This is a tiered interest rate account. Please review our current rate schedule for interest rates and annual percentage yields.
Frequency of Rate Changes: The interest rate and annual percentage yield may change daily at the Bank’s discretion.
Compounding and Crediting of Interest: Interest is compounded daily and credited every monthly statement cycle.
Minimum Balance Requirements: The minimum deposit to open an account is $1,000.00. You must maintain a daily balance of $1,000.00 to obtain the disclosed annual percentage yield. If the daily balance falls below $1,000.00, the account will earn the annual percentage yield we offer on Statement Savings Accounts.
Balance Computation Method: We use the daily balance method to compute interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of Interest on Deposits: Interest begins to accrue on non-cash items (for example, checks) on the business day of deposit.
Avoidance of Fees: Your account will be charged a monthly maintenance service charge of $5.00 if your average daily balance is less than $1,000.00 for the monthly statement cycle. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
Transaction Limitations: Transfers from a Money Market Account to another account or to third parties by pre-authorized, automatic, telephone or online banking transfers are limited to six per monthly cycle with no transfers by check, draft, debit card or similar order to third parties.
Withdrawal limitations: At any time we reserve the right to require not less than seven days notice in writing before any withdrawal from an interest bearing account.
Account Inactivity: An account is considered inactive/dormant if for 1 year there have been no transactions to the account. Account Inactivity Fee: $5.00 is charged per month if the balance is $100.00 or less.
Fees: Please refer to “View Fee Schedule” for additional information regarding applicable fees and charges.
|Account Reconciliation Charge||$10.00/hour (no charge in case of bank error)|
|ATM/Debit Card||Free at New Tripoli Bank-owned ATM's (foreign surcharges reimbursed up to $7.00/month)|
|Check Printing Charge||Free checks and deposit tickets (certain restrictions on style and quantity)|
|Coin Counting||Free for New Tripoli Bank customers|
|Copy of an Item||$3.00|
|Lost or Replacement Debit/ATM Card||$5.00|
|Online Banking/Bill Pay||Free|
|Overdraft Protection Transaction||Free|
|Overdraft/NSF Item (Paid or Returned)||$30.00 (This fee may be imposed for overdrafts by checks, in-person withdrawals, ATM withdrawals, debit card transactions, preauthorized automatic debits, telephone transfers, online banking transactions or other electronic means)|
|Return Item Charge||$12.00|
|Safe Deposit Box||Price varies based on size of box|
|Signature Guarantee||Free for New Tripoli Bank customers|
|Stop Payment Renewal||$25.00|
|Telephone Banking (Dial-A-Bank)||Free|
|Wire Transfer (domestic outgoing)||$20.00|
|Wire Transfer (foreign outgoing)||$40.00|
|Wire Transfer (incoming)||$10.00|