Business Checking

Business Checking

The First National Bank of Monterey’s business checking accounts offer you the features you need to manage your business.

Business Regular Checking Account

A service charge fee of $.20 will be charged for each debit transaction (withdrawal, check paid, automatic transfer, or payment out of this account).This fee will apply if the average balance during the monthly statement cycle drops below $300.01


Business NOW Account

Rate Information
Your interest rate and annual percentage yield may change.
Frequency of rate change
We may change the interest rate on your account at any time.
Determination of rate
At our discretion, we may change the interest rate on your account.
Compounding & crediting frequency
Interest will be compounded every month. Interest will be credited to your account every month.
Minimum balance to avoid fees
A service charge fee of $8 will be imposed each monthly statement cycle if the average daily balance for the monthly statement cycle falls below $1,000. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
Daily balance computation method
We use the daily balance method to calculate the interest on your account.This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on non-cash deposits
Interest begins to accrue on the business day you deposit non-cash items (for example, checks).

Business Super NOW Account

Rate Information
Your interest rate and annual percentage yield may change.
Frequency of rate change
We may change the interest rate on your account at any time.
Determination of rate
At our discretion, we may change the interest rate on your account.
Compounding & crediting frequency
Interest will be compounded every month.Interest will be credited to your account every month.
Minimum balance to open
You must deposit $2,500 to open this account.
Daily balance computation method
We use the daily balance method to calculate the interest on your account.This method applies a daily periodic rate to the principal in the account every day.
Accrual of interest on non-cash deposits
Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
Fees
A maintenance fee of $7.50 will be charged each month.

Business Money Market Account

Rate Information
Your interest rate and annual percentage yield may change.
Frequency of rate change
We may change the interest rate on your account every week.
Determination of rate
Please contact The First National Bank of Monterey.
Compounding & crediting frequency
Interest will be compounded every statement cycle.Interest will be credited to your account every statement cycle.
Minimum balance to open
You must deposit $100 to open this account.
Daily balance computation method
We use the daily balance method to calculate the interest on your account.This method applies a daily periodic rate to the principal in the account each year.
Accrual of interest on non-cash deposits
Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
Transaction limitations
Each deposit must be equal to or greater than $100. Transfers from a Money Market account to another account or to third parties by preauthorized, automatic, or telephone transfer are limited to six per statement cycle with no more than three by check, draft, or similar order to third parties.
Fees
A maintenance fee of $4 will be charged each month.