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Opening a New Account Notice

Personal Banking

By providing a variety of services for your personal use, Preferred Bank is ready to assist you with your needs.

Personal Checking

  • $900 to open
  • $8.00 monthly service charge
  • $0.20 per check
  • $900 average collected balance to avoid a service charge and per check charge
  • Unlimited check writing

Personal Money Market

  • Interest-bearing account
  • $2,500 to open
  • $10 monthly service charge
  • $2,500 average collected  balance to avoid a service charge
  • Limited to no more than six transfers and/or withdrawals to another account or to a third party, and no more than three of the transfers can be by check or telephone
  • $10 excessive use fee for each transaction above the limitation

NOW

  • Interest-bearing account
  • $1,000 to open
  • $7.50 monthly service charge
  • $0.20 per check
  • $2,000 average collected balance to avoid a service charge and per check charge
  • Unlimited check writing

Preferred NOW

  • Tiered interest-bearing account
  • $1,000 to open
  • $2,000 average collected balance to avoid a service charge and per check charge
  • $7.50 monthly service charge
  • $0.20 per check
  • Unlimited check writing

Personal Savings

  • $200 to open
  • $3 monthly service charge
  • $200 average collected balance to avoid a service charge
  • Limited to three withdrawals per cycle
  • $1 excessive use fee for each transaction above the limitation

Preferred Savings

  • $500,000 to open
  • Limited to three withdrawals per cycle
  • $10 excessive use fee for each transaction above the limitation
  • Reserve the right to require at least fourteen days written notice

We reserve the right to require seven days notice in writing before each withdrawal from an interest-bearing account other than a certificate of deposit.

 



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