Checking Accounts- Bank of Brewton



Regular Checking Account, Student Account, Business Account,
Money Market Account, Now Account, Certicate of Deposit

    Regular Checking Account
    55 years & up no maintenance charge!

Minimum Balance (opening)
 $150.00
Minimum Balance required to avoid service charge
 $500.00

Service charge:
$500.00 or more None
$499.00 or less $10.00
Service Charge for seniors (age 55 & up) None
Statement Period: Monthly
Balancing of Statement: $25.00 per hour $25.00 minimum
Cost of check printing varies depending on the style of checks ordered.
Insufficient Funds Charge (per item) $35.00
Overdraft Charge $3.00 per day for each day overdrawn
Stop Payment Charge (per item) $30.00
Deposited Check Return Charge (per item) $7.00
Dormant Account Charge $5.00 per month if the balance is below $500.00 and there is no customer activity for one year.
Closing of an Account: If an account is closed within 6 months of the opening date, a service charge of $10.00 will be charged.

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    *Student Checking Account

Minimum Opening Balance $100.00
Minimum Balance Required to avoid a service charge None
Service charge None
Free Standard Checks
Statement Period: Monthly
Balancing of Statement: $25.00 per hour
Insufficient Funds Charge (per item) $35.00
Stop Payment Charge (per item) $30.00 per item
Deposited Check Return Charge (per item) $7.00 per item
Overdraft Charge $3.00 for each day overdrawn
Dormant Account Charge... $5.00 per month if the balance is below $500.00 and there is no customer activity for one year.

    *Student Account - is for students high school and college ages 15-25.

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    Business Checking Account

Minimum Opening Balance $150.00
Monthly Service Charge $9.00
Statement Period Monthly
Per Check Written Fee .17
Per Deposit Made Fee .40
Item Deposited Fee .11
Deposited Check Return Charge (per item) $7.00
FDIC Assesment 40 cents per $100 per year of the average balance.
Cost of check printing varies depending on the style of check ordered
Insufficient Funds Charge (per item) $35.00
Stop Payment Charge (per item) $30.00
Overdraft Charge: $3.00 per day for each day overdrawn
Closing of an account: If an account is closed within 6 months of the opening date, a service charge of $10.00 will be charged.
Dormant Account Charge... $5.00 per month if the balance is below $500.00 and there is no customer activity for one year.

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    *Other Commercial Fees:

Official Checks $7.00
Money Orders $5.00
Night Drop Bag with one key $25.00
Additional Drop Key $5.00
Statement Period Monthly
Temporary Statement $5.00
Automatic Sweep-transfer day $5.00

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    Money Market Account

Minimum Opening Deposit $2,000.00
Minimum Balance Required to Obtain Annual Percentage Yield (APY) as listed None
Interest Rate See Rate Sheet
Annual Percentage Rater (APY) See Rate Sheet
Interest Compounded Monthly
Interest Credited Monthly
Interest Computation Method *Daily Balance
Statement Period: Monthly
On non-cash items interest will begin to accrue on the next business day.
If you close your account before interest is credited, you will not receive the accrued interest.
Cost of check printing varies depending on the style of checks ordered
Your interest rate and annual percentage yield may chnage. At our discretion, we may change the interest rate on your account at any time.
Withdrawal/Transfer Charge: Each account will be allowed up to six transfers/withdrawals per month. For each additional transfer/withdrawal in excess of six, there will be a service charge of $15.00 for each item.
Monthly Service Charge:
Balance of $2,000.00 or more None
Balance of less than $2,000.00 $15.00
Insufficient Funds Charge (per item) $29.00
Overdraft Charge: $3.00 per day for each day overdrawn
Stop Payment Charge (per item) $30.00
Dormant Account Charge $5.00 per month if the balance is below $500.00 and there is no customer activity for one year.
The Daily Balance is determined by the application of a daily periodic rate to the full amount of principal in the account each day.


Withdrawal Notice

We reserve the right to at any time require not less than 7 days' notice in writing before each withdrawal from an interest-bearing account other than a time deposit, or from any other savings account as defined by Regulation D.

    Monthly Maintenance Fee for $1,000.00 or more no charge.
    Monthly Maintenance Fee for $999.99 or less is $10.00.

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      Certificates of Deposit

    Interest will be credited to your account or paid to you monthly, quaterly, at maturity or as agreed upon.
    The annual percentage yiel (APY) assumes that interest remains on deposit until maturity. A withdrawal will reduce earnings.
    After the account is opened, you may not make any deposits into or withdrawals from the principal in the account until maturity date.
    Interest begins to accrue on the day you deposit any noncash item (for exmaple: checks).


    PENALTY FOR EARLY WITHDRAWAL

    You cannot redeem your Certificate before the maturity date without our approval. If we do allow you to redeem Your Certificate early, Federal regulations require us to charge the following penalties:
    • If the Original Maturity is 32 Days to less than 1 year.

      You will forfeit an amount at least equal to three months of interest on the funds withdrawn, regardless of the length of time the funds have actually remained on deposit. We will calculate the penalty at the simple interest rate we are paying on the Certificate.
    • If the Original Maturity us One Year or More:

      You will forfeit an amount at least equal to six months of interest on the funds withdrawn, regardless of the length of time the funds have actually remained on deposit. We will calculate the penalty at the simple interest rate we are paying on the Certificate
    If we allow you to redeem Your Certificate early, you may lose a portion of the principal amount of your deposit if that is necessary to comply with the penalties described above. Also, if you have already received interest on Your Certificate and we allow you to redeem it early, we will deduct the interest you have received from the amount we redeem, if that is necessary to comply with the above penalties.

    However, upon your death or in the event you are judicially determined to be legally incompetent, we will, upon request, allow the Certificate to be redeemed without penalty.

    Renewal Policy - If your Certificate is SINGLE MATURITY and does not automatically renew, present it PROMPTLY at maturity as no interest is payable after the maturity date:

    If your Certificate will AUTOMATICALLY RENEW, you will have a grace period of 10 days from maturity date to present this certificate for payment without penalty. If the Certificate automatically renews, IT WILL BE RENEWED AT THE RATE IN EFFECT AT THIS INSTITUTION ON THE DATE OF MATURITY.
    Method of Computation Daily Balance*
    * The Dailty Balance is dtermined by the application of a daily periodic rate to the full amount of principal in the account each day.

      Monthly Maintenance Fee for $1,000.00 or more no charge.
      Monthly Maintenance Fee for $999.99 or less is $10.00.

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    Now Account

Minimum Balance (opening) $1,500.00
Minimum Balance Required to Obtain Annual Percentage Yield (APY) as listed None
Interest Rate and APY See Rate Sheet
Interest Computation Method Daily Balance *
Interest will be Compounded Monthly
Interest Credited Monthly
Minimum Balances: Each account will be required to maintain a minimum balance of $1,500.00. Should the balance fall below $1,500.00 at any time during the statement cycle, there will be a $15.00 service charge.
On non-cash items will begin to accrue on the next business day.
If you close your account before interest is credited, you will not receive the accrued interest.
Your interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on your account at any time.
Cost of check printing varies depending on the style of check ordered.
Withdrawal/Transfer Charge None
We reserve the right to require at least 7 days written notice before any withdrawal or transfer is made.
Monthly Service Charge:
Balance of $1,500.00 or more None
Balance of less than $1,500.00 $15.00
Interest Computation Method *Daily Balance
Statement Period Monthly
Balancing of Statement $25.00 per hour
Insufficient Funds Charge $35.00 per item
Stop Payment Charge $30.00 per item
Deposited Check Return Charge $4.00 per item
Overdraft Charge $3.00 per day overdrawn
Withdrawal/ Transfer Charge None
Dormant Account Charge $5.00 per month if the balance is below $500.00 and there is no customer activity for one year.

    *Daily balance is determined by the application of a daily periodic rate to the full amount of the principal in the account each day.

    All Check images are returned at the end of each statement period (monthly).

    Now Accounts - No partnership, Association, Corporation, or Credit Union is allowed to have this type of account.

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