This account combines the benefit of a savings account with the convenience and liquidity of a checking account.
You earn interest and avoid activity service charges when your average monthly balances is $2,500 or more, making this a great savings account for building a nest egg. If the balance falls below this level, a monthly activity service charge will apply and no interest will accrue. Statements are issued monthly.
Withdrawals are limited to six (6) per month; each limited transaction over the six (6) will incur a $10 fee. Limited transactions include:
- Wire transfers
- Third party checks
- Point-of-sale (POS) debit card transfers
- Automated Clearing House debits (ACH)
- Transfers pursuant to a preauthorized agreement to cover overdrafts on a transaction account
- Transfers at the telephoned or faxed request of the customers made either by a bank employee or indirectly through the phone teller
- Transfers to customer’s other deposit account initiated by customer terminal (i.e., Home Banking)
Unlimited transactions are allowed within a branch office or an ATM and include the following transaction types:
- Mail transactions
- Messenger/courier transactions
- ATM transfers/withdrawals
- Withdrawals and transfer made in person at the teller window
- Withdrawals initiated by telephone and consummated by check to the depositor
- Repayment of a Middleburg Bank loan
- Deposits of any sort
Funds are FDIC insured up to the maximum amount allowed by law.