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Business Money Market Account

Money Market Account

  • Interest credited monthly when average daily balance is at least $1,000.00
  • Limited to a maximum of 6 withdrawals or transfers per monthly statement cycle to another account or to a third party by means of preauthorized or automatic transfer, telephone order, computer transfer, or by check, draft, debit card or similar order to a third party
  • Per item charges for excess monthly withdrawals: $5.00
  • Monthly service charge if minimum balance falls below $1,000.00: $7.50
  • Minimum opening deposit: $1,000.00

Public Funds Money Market

  • Interest credited monthly when average daily balance is at least $1,000.00
  • Limited to a maximum of 6 withdrawals or transfers per monthly statement cycle to another account or to a third party by means of preauthorized or automatic transfer, telephone order, computer transfer, or by check, draft, debit card or similar order to a third party
  • Per item charges for excess monthly withdrawals: $5.00
  • Monthly service charge if minimum balance falls below $1,000.00: $7.50
  • Minimum opening deposit: $1,000.00

CHANGE NOTICE EFFECTIVE IMMEDIATELY

Due to the recent amendment of Regulation D by the Board of Governors of the Federal Reserve System, Peoples Bank of East Tennessee is temporarily suspending the enforcement of the six (6) per month convenient transfers and withdrawals from savings accounts (includes money market accounts) until November 1, 2020.  This will allow you to make unlimited transfers and withdrawals from your savings or money market accounts.  In addition, you will not be charged excessive withdrawal fees during this temporary suspension.

* Under the Unlawful Internet Gambling Enforement Act of 2006, business accounts are not the be used for restricted transactions.  Restricted transactions are defined in our Unlawful Internet Gambling policy.