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Business
Investment
Insured Money Market Account (IMM Account)
At a glance
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An FDIC insured, interest bearing checking account. |
Best
For
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Corporations
and other for profit business entities wanting an insured account
with check writing privileges and a competitive interest rate.
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Features
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A
variable interest rate that may change weekly, not tied to
any index. Interest is compounded and paid monthly.
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Monthly
statement with images of paid checks. |
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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
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A
minimum balance of $2,500 is required to earn interest on the
account for that day. |
Fees
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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. |
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