Deposit Products
Regular Checking
There is no monthly maintenance or transaction fee if the daily minimum balance is $300. Images of all checks and deposits are returned to you in a monthly statement of your account.
- You must deposit $100 to open this account
- Daily minimum balance $300
- Unlimited check writing
- Temporary Checks
- $5.00 monthly maintenance fee if daily balance falls below $300 and $.10 each check or debit
- ATM/Debit Card upon approval
- On-line Banking Free
- On-line Bill Pay Free with unlimited transactions
If the account is overdrawn, interest will be assessed against the overdrawn balance as follows: Prime Rate as published in the Money Rates section of the Wall Street Journal, plus an additional ten percent (10%).Also, there is a $20 charge per item, paid or returned that is overdrawn. 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.
Ban Club Checking
This account is for personal accounts only, and provides the basic checking account features with the addition of AD&D features for a monthly fee. Images of all checks and deposits are returned to you in a monthly statement of your account.
- You must deposit $100 to open this account
- No Minimum Balance
- Unlimited Check Writing
- Personalized Whit-Co wallet checks or $4.50 towards the check design of your choice
- Tiered starting at $5.00
- ATM/Debit Card upon approval
- Insufficient Funds - paid or returned - $20 per item
- On-line Banking
- On-line Bill Pay Free with unlimited transactions
- $10,000 accidental death and dismemberment insurance
- Priority travel service Rental car discounts
- Credit card protection service
- Lost key return service
- Luggage tag service
- Emergency Data Card Membership Card
If the account is overdrawn, interest will be assessed against the overdrawn balance as follows: Prime Rate as published in the Money Rates of the Wall Street Journal, plus an additional ten percent (10%). 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.
Interest Checking
This account provides the traditional checking account features, along with competitive market interest rates paid on a tiered balance basis. This simply means that the more money you keep in your account, the higher your interest rate. There are no monthly maintenance or transaction fees as long as the account meets the balance requirements. Images of all checks and deposits are returned to you in a monthly statement of your account.
- You must deposit $1,000 to open this account
- Minimum daily balance requirement of $1,000 or $2,500 average daily ledger balance
- $5.00 monthly maintenance fees if daily balance falls below minimum balance requirement
- Check fee of $.10 each debit (if balance falls below minimum balance requirement)
- Temporary Checks
- ATM/Debit Card upon approval
- Insufficient Funds - paid or returned - $20 per item
- On-line Banking
- On-line Bill Pay Free with unlimited transactions
- Tiered Rates
Rate Information
The interest rate and annual percentage yield will depend upon the daily balance in the account as shown on the Rate Chart. The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on the account daily. Interest begins to accrue no later than the business day we receive credit for the deposit of non cash items (for example, checks). Interest will be compounded daily and will be credited to the account monthly. If the account is closed before interest is credited you will not receive the accrued interest.
Balance Information -
We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day.
Account Fees -
There are no monthly maintenance or transaction fees if the account maintains either a $1,000 minimum daily ledger balance, or a $2,500 average daily ledger balance. If the account balance falls below the balance requirements, the monthly maintenance fee is $5.00 and each additional check or other debit $.10 each. If the account is overdrawn, interest will be assessed against the overdrawn balance as follows: Prime Rate as published in the Money Rates section of the Wall Street Journal, plus an additional ten percent (10%). 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.
Ban Club Interest Checking
This account, for personal accounts only, has competitive market tiered interest rates. Images of all checks and deposits are returned to you in a monthly statement of your account.
- You must deposit $1000 to open this account and maintain a $1000 balance or forfeit the interest for that month
- No Minimum Balance
- Unlimited check writing
- Personalized Whit-Co wallet checks or $4.50 towards the check design of your choice
- Tiered fee starting at $5.00
- ATM/Debit card upon approval
- Insufficient Funds- paid or returned - $20 per item
- On-Line Banking
- Bill Pay Free with unlimited transactions
- Tiered Rates
- $10,000 accidental death and dismemberment insurance
- Priority travel service
- Rental car discounts
- Credit card protection service
- Lost key return service
- Luggage tag service
- Emergency Data Card
- Membership Card
Rate Information
The interest rate and annual percentage yield will depend upon the daily balance in the account as shown on the Rate Chart. The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on the account daily. Interest begins to accrue no later than the business day we receive credit for the deposit of non cash items (for example, checks). Interest will be compounded daily and will be credited to the account monthly. If the account is closed before interest is credited you will not receive the accrued interest.
Balance Information -
We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day.
Account Fees -
There is a monthly maintenance fee of $5. If the account is overdrawn, interest will be assessed against the Money Rates section of the Wall Street Journal. If the account is overdrawn, interest will be assessed against the overdrawn balance as follows: Prime Rate as published in the Money Rates section of the Wall Street Journal, plus an additional ten percent (10%). 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.
Money Market Checking
This account provides the features of both an Interest Checking account and a Certificate of Deposit, by providing both check writing ability and higher interest rates. Competitive market interest rates are paid on a tiered balance basis. This simply means that the more money you keep in your account the higher your rate of interest. There is no monthly maintenance fee as long as the account meets the balance requirements. Images of all checks and deposits are returned to you in a monthly statement of your account.
- You must deposit $2,500 to open this account
- Minimum balance requirement of $2,500
- 6 Transfers a month (3) can be checks
- Free Temporary Checks
- Monthly maintenance fee of $5.00 if daily balance falls below $2,500 plus $.10 each debit
- ATM/Debit card upon approval
- Insufficient Funds - paid or returned - $20 per item
- On-Line Banking
- Bill Pay Free with unlimited transactions
- Tiered Rates
Rate Information
The interest rate and annual percentage yield will depend upon the daily balance in the account as shown on the Rate Chart. The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on the account daily. Interest begins to accrue no later than the business day we receive credit for the deposit of non cash items (for example, checks). Interest will be compounded daily and will be credited to the account monthly. If the account is closed before interest is credited you will not receive the accrued interest.
Balance Information -
We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day.
Account Fees -
There are no monthly maintenance or transaction fees if the account maintains a $2,500 minimum daily ledger balance. If the account balance falls below the balance requirements, the monthly maintenance fee is $5.00.
Transactions -
You may make six (6) transfers from your account each four (4) week or similar period, if by preauthorized or automatic transfer, or telephone (including data transmission) agreement, order or instruction. Three (3) of these transfers may be made by check, draft, debit card or similar order (including POS transactions), made by the depositor and payable to third parties. Transfers and withdrawals made in person by messenger, by mail or at an ATM are unlimited. If the account is overdrawn, interest will be assessed against the overdrawn balance as follows: Prime Rate as published in the Money Rates section of the Wall Street Journal, plus an additional ten percent (10%). 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.
FDIC TRANSACTION ACCOUNT GUARANTEE PROGRAM:
First Bank & Trust of Memphis has chosen NOT to participate in the FDIC's Transaction Account Guarantee Program. Customers of First Bank & Trust of Memphis with non-interest bearing transaction accounts will continue to be insured through December 31,2013 for up to $250,000.00 under the FDIC's general deposit insurance rules.