Personal Savings Accounts Details/Fees Flashcards
What 5 different personal savings accounts do we offer?
1) Statement Savings
2) Tiered Savings
3) Money Market
4) Holiday Savings
5) MoneyHune Savings
What are the minimum opening deposits required for each type of personal savings accounts?
$20 for all except MoneyHune which is $5
What is the minimum balance required to earn interest on a personal statement savings account?
$100
What is the minimum balance required to earn interest on a personal Tiered savings account?
NONE
What is the minimum balance required to earn interest on a personal Money Market savings account?
NONE
What is the minimum balance required to earn interest on a personal Holiday savings account?
$5
What is the minimum balance required to earn interest on a personal MoneyHune savings account?
$5
What is the minimum balance required to avoid a monthly service fee (personal Statement Savings)?
$300 daily balance
What is the minimum balance required to avoid a monthly service fee (personal Tiered Savings)?
$500 monthly average balance
What is the minimum balance required to avoid a monthly service fee (personal Money Market)?
$1,000 daily balance or $2,500 monthly average balance
What is the minimum balance required to avoid a monthly service fee (personal Holiday Savings)?
NONE
What is the minimum balance required to avoid a monthly service fee (personal MoneyHune Savings)?
NONE
What is the monthly service fee for personal Statement Savings?
None with minimum balance, otherwise $4.50
What is the monthly service fee for personal Tiered Savings?
None with minimum balance, otherwise $5.
What is the monthly service fee for personal Money Market account?
None with minimum balance, otherwise $10
What is the monthly service fee for personal Holiday Savings?
NONE
What is the monthly service fee for personal MoneyHune savings account?
NONE
What is the Fee for a Money Express ATM card?
FREE for all accounts (not applicable for Holiday Savings and MoneyHune must be 12 years or older).
Is there a fee for online banking?
NO (for all accounts)
What is the fee for Mobile Check Desposit?
No fee; not applicable for MoneyHune account
What is the minimum opening deposit required for a CD and Jumbo CD?
CD: $1,000
Jumbo CD: $100,000
What are the main features of CD’s and Jumbo CD’s?
- Higher returns than typical savings accounts
- Guaranteed interest rates with terms from seven (7) days to 10 years
Benefits of a Traditional IRA
- Tax-deferred earnings
- contributions may also be tax deductible
Benefits of a Roth IRA
- Tax-deferred earnings
- withdrawals may be tax-free
