Minimum Balance to Open:
$25.00 is required to open the account.
Fixed Monthly Fee: $20.00 per statement cycle
Unlimited Items per month; however, items are subject to analyzed per item charges during the statement cycle:
$0.20 per Debit including Checks, Telephone Transfers (not through recorded line) and Online Banking Transfers per item
$0.05 per ACH Debit per item
$0.30 per Credit including checking deposit, remote deposit capture deposit and mobile banking deposit per instance
$0.05 per ACH Credit per item
$0.13 per On-Us (BMT) per Deposited Item
$0.14 per Foreign (Non-BMT) Deposited item (first 500 items)
$0.13 per Foreign (Non-BMT) Deposited item (over 500 items)
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.
Deposit Balance Earnings Credit may offset all or a portion of charges. Earnings Credit is determined by Bryn Mawr Trust at our discretion.
Fees may reduce earnings.
The rates are subject to change at any time.
Minimum Balance to Earn Interest:
You must maintain a minimum daily balance of $2,000 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 $2,000.
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.
The entity must be eligible to earn interest.