Minimum Balance to Open:
$50,000.00 is required to open the account.
Minimum Balance Required to Avoid Service Charge and Service Charge Fee if Minimum Balance is Not Met:
$50,000.00 minimum daily balance requirement. A $25.00 maintenance fee will be assessed against your account for any statement cycle in which the balance in the account falls below $50,000.00 on any day.
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 transfer (and you may be charged a fee for a balance inquiry).
Additional fees that may be assessed against your account are listed on our Business Accounts Schedule of Service Fees.
Fees may reduce earnings.
If your daily balance is $2,500,000 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%.
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.
Future rates will be determined at our discretion.
You must maintain the minimum tier balance in the account each day to obtain the disclosed annual percentage yield for that tier.
Minimum Balance to Earn Interest:
You must maintain a minimum daily balance of $50,000.00 to obtain the annual percentage yield listed above.
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.
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 fee excess debit fee will be assessed for every third-party transaction over six (6) in the statement cycle.