Business Money Market Savings
When you’re ready to take your business savings to the next level, our business money market savings account is a smart choice. This account allows limited transactions, but earns higher interest rates on your higher balance.
- Six (6) withdrawals, transfers or third-party payments per statement cycle at no charge*
- Unlimited withdrawals if made in person or at an ATM
- Interest accrues daily and is paid monthly based on daily collected balance tiers
- Free Progress Bank ATM/CheckCard with Rewards Points
- Free online banking and balance transfer service
- Free E-statements
- May be linked to a Progress Bank checking or loan account for overdraft protection
- Minimum opening deposit of $100
- Minimum daily balance of $2,000 or average monthly balance of $5,000 or combined personal and business average monthly balance of $50,000 to avoid $15 charge.
*Subject to Regulation D Transaction Limitations: Transfers from a Money Market Account to another account or to third parties by preauthorized, automatic, telephone, computer transfers, draft, check, debit card or similar order to third parties are limited to six per statement cycle for Money Market Account. The preauthorized or automatic transactions may be initiated by telephone banking, PC banking, internet banking or standing order. Limit does not apply to in-person withdrawals, withdrawals by mail or messenger or withdrawals at an ATM. A charge will be assessed for each preauthorized transfer, draft or debit card transactions in excess of six per statement cycle. If these restrictions are exceeded more than three times during a 12 month period, the account is subject to being closed and funds transferred into a checking account. Bill Payment is not available for money market accounts.