Money Market Accounts: Personal and Non-Personal
A tiered money market account for personal and business customers.
Full Disclosure of our money market accounts is available upon request.
- $2,500 minimum initial deposit
- 4 Tiers
- 1st $2,500 - $24,999
- 2nd $25,000 - $49,999
- 3rd $50,000 - $499,999
- 4th $500,000+
- Interest rate is fixed for 1st and 2nd tiers according to current market conditions
- Variable interest rate for 3rd tier
- Balances between $1,000-$2,499 will accrue interest at the prevailing NOW account rate
- $5 monthly service charge if daily balance falls below $2,500
- Restricted Transactions - Money Market account depositors are not permitted to make more than six (6) restricted transfers or withdrawals in any combination per calender month.
- Restricted transfers and withdrawals include:
- Automatic or electronic transfers to the account of the same depositor at Peoples National Bank if made by:
- Autodraft - to checking or savings
- Automatic Transfers by telephone
- PNB Internet Banking Service (PNB Online)
- PNB EDIE Telephone Banking Service
- Limit of three (3) transfers or withdrawals to third parties each month. Transfers or withdrawals to third parties include:
- ACH preauthorized transfers
- Automatic transfer by telephone
- PNB Internet Banking Service (PNB Online Billpay)
- Unrestricted Transactions - an unlimited number of savings withdrawals or transfers are allowed in the following situations:
- When the withdrawal is made in person, or by ATM
- When the withdrawal is made by telephone with a check mailed to the customer
- When the transfer is made in person between accounts of the same depositor at Peoples National Bank
- When the transfer is made between accounts of the same depositor at the ATM
- When the transfer is to repay a loan at Peoples National Bank by autodraft
