Savings Accounts
This account meets the needs of basic business savers, providing flexibility and
liquidity for their savings.
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Account Type
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Overview
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SAVINGS
This account meets the needs of basic business savers, providing flexibility
and liquidity for their savings.
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- Interest bearing*
- $100.00 minimum to open
- Minimum daily balance of $100.00 to earn interest
- $5.00 monthly maintenance fee
- Average daily balance of $300.00 is required to avoid a monthly maintenance fee
- Federal Regulation limits the number of checks, telephone transfers, online transfers, and preauthorized electronics transfers to third parties (including point of sale transactions) from Money Market and Savings type accounts. You are limited to six such transactions from each Money Market and/or Savings type accounts you have each month for purposes of making a payment to a third party or by use of a telephone or computer. If you routinely exceed these withdrawal limitations, the bank is required to convert your account to another account that permits unlimited check writing privileges.
- An excess transaction fee of $2.00 will be charged for each debit transaction in
excess of six (6) during a calendar month.
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MONEY MARKET
A tiered money market account that gives you the flexibility of earning
higher rates on higher balances. Competitive rates with limited check writing.
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- Interest bearing*
- $100.00 minimum to open
- Minimum daily balance of $100.00 to earn interest
- Average daily balance of $2,500.00 is required to avoid a monthly maintenance fee
- $10.00 monthly maintenance fee
- Federal Regulation limits the number of checks, telephone transfers, online transfers, and preauthorized electronics transfers to third parties (including point of sale transactions) from Money Market and Savings type accounts. You are limited to six such transactions from each Money Market and/or Savings type accounts you have each month for purposes of making a payment to a third party or by use of a telephone or computer. If you routinely exceed these withdrawal limitations, the bank is required to convert your account to another account that permits unlimited check writing privileges.
- An excess transaction fee of $10.00 will be charged for each debit transaction in
excess of six (6) during a statement cycle
- Interest Tiers are as follows:
- Tier 1 - Daily Balance less than $25,000.00
- Tier 2 - Daily Balance greater than or equal to $25,000.00 but less than $100,000.00
- Tier 3 - Daily Balance greater than or equal to $100,000.00 but less than $300,000.00
- Tier 4 - Daily Balance greater than or equal to $300,000.00
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* Interest- Paid on daily balance, compounds daily, and credited to
the account monthly. The rate is set by Great Eastern Bank of Florida and may change
without prior notice.