Accounts

WHAT ACCOUNT IS IN YOUR BEST INTEREST?

When you trust your money to a bank, you want to be sure it's in an account that's right for you.  One that gives you the most for what you need.  That's exactly why Farmers and Merchants State Bank has so many accounts to choose from.  From Regular Checking to a Money Market Savings, you'll find the one account that has your best interest at heart.

                        Checking                                                         Savings

                   Regular Checking                                             Regular Savings

                    Now Checking                                         Money Market Savings

                   Student Checking                                            Rainbow Savings

                     Free Checking                                         Christmas Club Savings

                   Set Six Checking                                             

               Super Senior Checking

Regular Checking**

• Deposit $300.00 to open
• Monthly Maintenance Charge - $1.00
• An additional monthly maintenance charge of $2.00 plus $.25 per debit transaction will be imposed every statement cycle if the balance falls below $300.00 any day of the statement cycle.
• Does not bear interest

Now Checking**
 

• Deposit $900.00 to open
• Monthly Maintenance Charge of $5.00 will be imposed every statement cycle if the daily balance falls below $900.00 any day of the statement cycle.
• Does bear interest, provided you maintain a minimum daily balance of $900.00 in the account each day, you will obtain the disclosed annual percentage yield.  Below $900.00, no interest is paid.

Student Checking
 

• Deposit $50.00 to open
• No Monthly Maintenance Charge
• Must be 22 years or younger. At age 23, you will need to come in and select an account or we will change the account to a Set Six account, which has a maintenance charge.
• Does not bear interest

• Deposit $50.00 to open
• No Monthly Maintenance Charge
• Does not bear interest

Set Six Checking**
 

• Deposit $50.00 to open
• Monthly Maintenance Charge - $6.00
• Does not bear interest

Super Senior Checking**

• Deposit $50.00 to open
• No Monthly Maintenance Charge
• Must be 55 years or older
• Does bear interest, provided you maintain a minimum balance of $500.00 in the account each day, you will obtain the disclosed annual percentage yield.

Regular Savings*/**/*** 

• Deposit $50.00 to open
• Minimum Balance fee of $3.00 will be imposed every statement cycle if the average daily balance for the statement cycle falls below $25.00.
• See us for the rate of interest

Money Market Savings*/**/***

• Deposit $50.00 to open
• Minimum Balance fee of $3.00 will be imposed every statement cycle if the average daily balance for the statement cycle falls below $25.00
• Rate of interest depends on deposit balance.

Rainbow Savings*/***
 

• Deposit $50.00 to open
• Must be 18 years or younger.  At age 19 you will need to come in and select an account or we will change the account to a Regular Savings. 

Christmas Club Savings*/**/***
 

• Deposit $5.00 to open.
• The balance of the account as of September 30^th will be mailed to you by November 1^st each year

*Federal regulation limits the number of drafts, telephone transfers, online transfers and preauthorized electronic transfers to third parties.  You are limited to six such transactions each month for purposes of making a payment to a third party or by use of a telephone or computer.

**A dormant account fee of $5.00 per statement cycle will be charged after 24 months of inactivity unless your average daily balance for the statement cycle is greater than $50.00.

***All savings accounts will have a $30.00 fee for a return of an ACH item.