Business Accounts
Checking Accounts
SMALL BUSINESS CHECKING – Bay Springs, Taylorsville, Heidelberg
- Minimum balance ..............................................................$0.00
- Monthly maintenance fee:
- Below $2,000.00 ..................................................$5.00
- Monthly transaction fees:
- 250 total transactions ............................................ free
- After 250, per check ............................................$0.20
- After 250, per deposit item..................................$0.10
SMALL BUSINESS CHECKING – Laurel, Petal, Hattiesburg
- Minimum to open account..............................................$100.00
- Monthly maintenance fee ..................................................$0.00
- Monthly transaction fees:
- 200 total transactions............................................ free
- After 200, debit or credit ....................................$0.25
COMMERCIAL CHECKING – All Locations
For larger businesses with many transactions
- Maintenance fee per statement ........................................$10.00
- Transaction fees:
- Per deposit item .................................................. $0.14
- Per withdrawal ....................................................$0.07
- Earnings Credit:
The investable balance, defined as the average collected balance less 3% Federal Reserve requirement, will earn a credit based upon Money Market Rates. Rates are subject to change on a daily basis.
Money Market Accounts
Market rate paid on entire collected balance.
- Minimum amount to open account........$2,500.00
- Monthly maintenance fee:
- $2,500.00 or more ....................................$0.00
- Below $2,500.00 .......................................$25.00
- Interest earned on Business Money Market accounts according to the following tiers:
- $2,500.00 - $9,999.00
- $10,000.00 - $49,999.00
- $50,000.00 and above
- Money Market Business accounts earn interest at a competitive rate determined solely by Magnolia State Bank and is subject to change at the Bank’s discretion.
- Withdrawals in excess of 6 per month ..........................$1.00
- Unlimited transactions in person. Federal regulations limit transactions on the account to no more than 6 preauthorized, automatic or telephone transfers per calendar month, 3 of which may be by check or debit to third parties.
