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Business Market Rate Account Fact Sheet

Minimum Balance to Open:
$25.00 is required to open the account.

Minimum Balance Required to Avoid Service Charge and Service Charge Fee if Minimum Balance is Not Met:
A $15.00 maintenance fee will be assessed against your account for any statement cycle in which the average daily balance in the account falls below $2,000. This service charge fee will be automatically waived in any statement cycle where the average daily combined balance is equal to or exceeds $5,000.

We use the average daily balance method for determining whether to assess a monthly maintenance fee against your account. This method 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.

Other Fees:
As disclosed in our Business Accounts Schedule of Service Fees, a per item excess debit fee will be assessed for every third-party transaction over six (6) in the statement cycle.

When you use an ATM not owned by BMT, you may be charged a foreign ATM fee by the ATM operator or any network used to complete the transaction. This may include withdrawal, balance inquiry or other transaction.

Additional fees that may be assessed against your account are listed on our Business Accounts Schedule of Service Fees.

Fees may reduce earnings.

Rate Information/Interest:
If your daily balance is $100,000 or more, the interest rate paid on the entire balance in your account will be Enter Zip%, with an annual percentage yield of Enter Zip%

If your daily balance is $50,000 or more, but less than $100,000 the interest rate paid on the entire balance in your account will be Enter Zip%, with an annual percentage yield of Enter Zip%

If your daily balance is $25,000 or more, but less than $50,000, the interest rate paid on the entire balance in your account will be Enter Zip%, with an annual percentage yield of Enter Zip%.

If your daily balance is $10,000 or more, but less than $25,000, the interest rate paid on the entire balance in your account will be Enter Zip%, with an annual percentage yield of Enter Zip%.

If your daily balance is $2,500 or more, but less than $10,000, the interest rate paid on the entire balance in your account will be Enter Zip%, with an annual percentage yield of Enter Zip%.

Balance Tiers
We may set the rate for each tier in any amount. The interest rate for one tier may be the same rate, or a higher or lower rate, than the rate for a lower tier.  Interest rates and annual percentage yields for tiers may change at any time. You must maintain the minimum tier balance in the account each day to obtain the disclosed annual percentage yield for that tier.

Future rates will be determined at our discretion. 

Minimum Balance to Earn Interest:
You must maintain a minimum daily balance of $2,500. to obtain the Annual Percentage Yield listed above. Your account will not earn interest on any day where the balance in the account drops below $2,500.

Compounding and Crediting
Interest will be compounded daily. Interest will be credited to your account on the last day of the statement cycle. Interest accrues on collected balance. 

Balance Computation Methods:
We use the daily balance method to calculate the interest in your account. This method applies a daily periodic rate to the collected balance in the account each day.

When will interest accrue:
Interest begins to accrue on the first business day after the banking day of deposit of noncash items, for example, checks.

Other Requirements:
Transaction Limitations: You may only transfer funds out of your account up to six (6) times during each monthly statement cycle using any combination of preauthorized, automatic, telephonic or computer originated transfer services, checks, drafts, or similar orders to third parties or to yourself. There is no limit to the number of withdrawals that you may make in person, by ATM (including ATM transfers), or to repay loans at our bank. We may close or reclassify your account if you exceed the transfer limitations.

As noted in the fee section, a per item excess debit fee will be assessed for every third-party transaction over six (6) in the statement cycle.

1/12/2021
PR 155