Operating Accounts

Money Market Checking Account

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 every statement cycle when your balance falls below $2,500.00 any day of the cycle
Minimum Balance to earn interest
  • A minimum balance of $1,000.00 must be maintained in the account each day to obtain the disclosed annual percentage yield
Excess Withdrawal Fee
  • $15.00 for each debit transaction (withdrawal, check paid, automatic transfer or payment out of this account) if more than 6 transfers are made during a monthly 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