March 11, 2010
Preferred Business Checking
At a glance
A full featured checking account with unlimited check writing, monthly statement with return of images of paid checks, and no minimum balance.
Fees
No maintaince fee if minimum balance is $400; otherwise $5 per statement cycle.
The bank reserves the right to analyze and impose fees, according to our standard corporate fee schedule, for accounts which maintain low collected balances relative to the activity in the account.
Insured Money Market Account (IMM Account)
At a glance
An FDIC insured, interest bearing checking account.
Best For
Corporations and other for profit business entities wanting an insured account with check writing privileges and a competitive interest rate.
Features
- A variable interest rate that may change weekly, not tied to any index. Interest is compounded and paid monthly.
- Monthly statement with images of paid checks.
- Limitation of 6 withdrawals per statement cycle, of which no more than 3 can be by check. Automatic loan payments at Legends Bank do not count as one of the six.
Minimum Balance
A minimum balance of $2,500 is required to earn interest on the account for that day.
Fees
No maintenance fee if the average daily balance for a statement cycle is $2,500 or more. Otherwise a fee of $5.00 per statement cycle is imposed.
