Lumbee Guaranty Bank

PERSONAL MONEY MARKET
Rate information - Your interest rate and annual percentage yield may change.
Frequency of rate changes - We my change the interest rate on your account every week.
Determination of rate - At our discretion, we may change the interest rate on you account.
Compounding and crediting frequency - Interest will be compounded every day. Interest will be credited to your account every month.
Minimum balance to open the account - You must deposit $1,000.00 to open this account.
Minimum balance to avoid Imposition of fees - A monthly maintenance fee of $7.50 will be imposed every statement cycle if balance in the account falls below minimum $1,000.00 any day of the cycle.
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 noncash deposits - Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks)
Transaction limitations:
Transfers from a Personal Money Market account to another account or to third parties by preauthorized or automatic are limited to six per statement cycle with no more than one by telephone transfer or three by check, draft, or similar order to third parties.
Fee:
A per check or withdrawal fee of $5.00 will be charged for each debit transaction in excess of six during a statement cycle. This fee will not apply to Prestige Banking members who choose this as their no fee account.