We calculate an earnings credit on your daily account balances (less reserve requirements) – the earnings credit is calculated daily, based on The Farmers Bank Money Market Interest Rate, which approximates current short-term interest rates.
At the end of the month, your credit received for your daily balance may offset your monthly expenses. In the event your account has a negative collected balance, interest will be calculated at The Farmers Bank Base Rate. This account can be linked to other business analysis accounts to maximize earnings and savings potential.
- Daily overdraft fee – if an account is overdrawn in an amount over $10 for five (5) or more consecutive business days (i.e. Monday – Friday), a Daily Overdraft Fee (i.e. a daily fee for an outstanding overdraft status) of $5 is assessed beginning on the 6th business day.