Operating Accounts

Money Market Checking

Operating account balances fluctuate throughout the month as receivables arrive and payables are processed. Monitor your daily cash position using SummitOnline Banking. Make individual transfers between accounts maintaining optimal account balances. Earn interest on the excess funds you place in your Money Market checking account. Write checks, pay loans or transfer funds back to your operating accounts, as you need.

Money Market Account Features
Minimum  deposit $2,500.00 minimum opening deposit
$1,000.00 minimum balance to earn interest
Minimum Balance Fee
  • $10.00 if the balance falls below $2,500.00
Excess Withdrawal Fee
  • $10.00 if more than 6 transfers are made from the account during a statement cycle
Rate
  • Variable rate, compounded daily
  • Tiered rate structure based on daily balance method
Transaction Limitations
  • Make up to 6 transfers per monthly statement cycle to your other Summit accounts or to third parties by preauthorized, automatic, telephone or computer transfers.
Remote banking