Business Checking Accounts
Morrill & Janes Bank offers these commercial transaction accounts:
Rather than specific checking products, our commercial staff will review the volume of activity in your accounts. Based upon how you use your account and our added consultation, we will design a product specific to your needs. We do offer these basic checking accounts for businesses:
Commercial Checking - perfect for your daily business or operating account
Money Market Checking - earns interest on deposits with limited check writing*
Treasury Index Account - similar to our Money Market Account but earns higher interest with a higher minimum balance. Interest rate based on the U.S. Treasury Bill**
* Make unlimited deposits and up to six transfers or withdrawals per Month. Transfers to another account or to third parties by preauthorized, automatic, or telephone transfer are limited to six per month. If transactions exceed this legal limit, a service fee per item will be charged. We reserve the right to convert this account to a regular transaction account if the monthly legal limit of transactions is exceeded. ** Maintain a minimum balance of $25,000.00 or more, and your interest rate will be based upon a range between the last 91-day weekly US Treasury Bill Auction Discount Rate and the 26-week average of the 91-day weekly US Treasury Bill Auction Discount Rate, as published in The Wall Street Journal. On days when your balance falls below $25,000.00 the interest rate will be variable and equal to the interest rate paid on our Savings Accounts. Minimum amount to earn interest is $10.00. Service charges and fees may reduce earnings on account.
