Alton Bank  
 

 Dormant Accounts

Regular, Regular with Interest, and Low Volume Checking Accounts become dormant after one year of inactivity. A dormant account can be reactivated by contact with Alton Bank. All dormant accounts not reactivated will be assessed a dormant account fee.

 

Checking Accounts

LOW VOLUME ACCOUNT
This account has no monthly service charge and unlimited debit card transactions. Internet Banking is required to receive e-statements only. (No paper statement will be mailed.) There is no minimum balance and no minimum deposit to open the account. Limit of no more than six checks per month. Must have at least one transaction by debit card, check or deposit in a six month time period. If any of these conditions are not met the same account fees will apply as a regular checking account.

Regular Checking:
You are assessed a service charge that will vary according to the balance in your account. This is based upon the average daily balance during the month. You will not be charged more than $5.00 a month for a service charge.
Up to two free checking accounts for ages 55 and over for primary account owner, if you have at least one transaction by debit card, check, or deposit in a six month time period.

regular checking with interest:
This is an interest bearing account. A minimum balance of $1,000.00 is used to open this account. You must maintain an average daily balance of $1,000.00 to obtain the annual percentage yield. This account will be assessed a monthly $10.00  service charge. You may avoid this fee if, for the month, you have an average daily balance of at least $1,000.00. The interest rate and annual percentage yield are included in the Interest Rate Chart. Entities organized or operated to make a profit such as corporations, partnerships, associations, business trusts, or other organizations may not maintain this type of account.

Money Market Deposit Account:
This is an interest bearing account. A minimum balance of $2,500.00 is used to open this account. You must maintain an average daily balance of $2,500.00 to obtain the annual percentage yield. Your monthly service charge will vary according to the average balance in your account. This account may be assessed up to a $10.00 service charge. There is no limit to the number of withdrawals made in person or by mail. Preauthorized transfers and checks are limited to no more than six per month or statement cycle. The interest rate and annual percentage yield are included in the Interest Rate Chart.

 

 

Interest Rate changes are solely at the Banks discretion.

The Bank reserves the right to change interest rates at any time with the exception of Certificates of Deposits.

 

 

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