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Business Money Market Account

Business savings with flexibility.

Money Market Accounts 1 from Salem Co-op

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1 Must be registered with the state and provide a certificate from the state, a copy from the IRS of the EIN and business documentation (Corporate Resolution, etc.)

2Transaction Limitations: On Savings Accounts and Money Market accounts, the customer may make no more than six “convenient” transfers or withdrawals per month from the account. “Convenient” transfers and withdrawals for purposes of this limit include pre-authorized, automatic transfers (including but not limited to transfers from the savings deposit for overdraft protection or for direct bill payments) and transfers and withdrawals initiated by telephone, facsimile, or computer, and transfers made by check, debit card or other similar order made by the depositor and payable to third parties. Other types of transfers such as withdrawals or transfers made in person at the bank, by mail, or by using an ATM, do not count toward the six-per-month limited and do not affect the account’s status as a savings account. Fees: An excess debit transfer withdrawal fee of $10.00 may be charged for each third party withdrawal in excess of six during a calendar month. A fee of $3.00 will be charged for automatic transfers to cover overdrafts.

 


Additional Resources

Important Information about Opening AccountsFDIC Insurance Estimator | Business Deposit Rates and Fees  | FDIC Video

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