Business Banking - Money Market Account
This is an insured investment account which pays higher interest and provides check writing privileges.
You will receive monthly statements, along with images of your cancelled checks. There is limited check writing on money market accounts. You may have up to six debit transactions a month at no fee, with only three by check or debit card as limited by regulation.
Transfers from a Money Market account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer or by check, draft, debit card, or similar order to third parties are limited by law to six per month. A service charge of $10.00 will be charged for each debit transaction exceeding these limits.
The Money Market Account earns interest when your daily collected balance is $1000 or more. Interest is compounded and paid monthly into your account.
There is a monthly fee of $6 for the Money Market Account. You can avoid the fee with a $1000 minimum daily balance, or a $2000 average monthly balance.
Individuals and businesses are eligible for Money Market Accounts.
Overdraft Privilege available after qualifying period.
Open this account with a minimum opening deposit of $1000 at your nearest FirstBank Southwest location