Business Deposit Accounts - Checking

Merchants Checking

This account is designed for sole proprietorships, unincorporated or non-for-profit businesses with a low volume of checks or deposits each month.

• A $500 minimum balance must be maintained to avoid a $10.00 monthly fee.
• Debit Items - first 20 debit items are free. Any over 20 are $0.20 per debit.
• Deposit Items - Deposit items from customers of Family Merchants Bank and your first 15 / 5 deposits per month from in-state/out of state non-customers of Family Merchants Bank are free. Any deposits over the limit of free transactions will be charged at $0.15 cents per item for in-state deposits and $0.24 cents per item for out of state deposits.
• Free Internet Banking

Merchants Advantage Checking

Designed for businesses that have a low to medium number of checks or deposits per month.

• $10.00 monthly service charge
• Debit items - first 50 debit items are free. Any over 50 are $0. 20 per debit.
• Deposit items - Deposit items from customers of Family Merchants Bank and your first 35/15 deposit items per month from in-state / out of state non-customers of Family Merchants Bank are free. Any deposits over the limit of free transactions will be charged at the rate of $0.17 cents per item for in-state deposits and $0.24 cents per item for out of state deposits.
• An earnings allowance is available. The earnings allowance is credited at the 91 day average Treasury bill rate applied to the average collected balance. It is used to offset activity based charges.
• Interest will be assessed on negative collected balances at the Prime Rate as published in the Wall Street Journal plus 5.0%.
• Free Internet Banking

Merchants Advantage Plus Checking

Designed for businesses with a high volume of checks or deposits per month.

• $10.00 monthly service charge
• Debit items - $0.10 per debit
• Deposit items - Deposit items from customers of Family Merchants Bank are free. Deposit items from non-customers of Family Merchants Bank are $0.10 an item for in-state deposits and $0.12 for out-of-state deposits
• An earnings allowance is available. The earnings allowance is credited at the 91 day average Treasury bill rate applied to the average collected balance. It is utilized to offset activity based charges
• Interest will be assessed on negative collected balances at the Prime Rate as published in the Wall Street Journal plus 5.0%
• Free Internet Banking

Applicable sales tax will be added to monthly service charges where such taxes apply.