Your Bank of Herrin customer service representative will help you choose the personal checking account that is perfect for you. Our personal checking services range from no service fee accounts to more sophisticated interest earning accounts. As an added bonus, all of our personal checking accounts come with free online banking, so access to your account is at your fingertips anytime night or day.

 

		Com	parison of	Checking  A	ccounts
	Regular Checking*	Account Plus Checking*^	Rewards Checking*^	Senior Citizen Checking*+	NOW Checking*^	Money Market Checking*^
Minimum Balance to Open Account	$250.00	$50.00	$100.00	$0.01	$1,000.00	$2,500.00
Service Charge	$5.00 if balance falls below $250.00	$5.00 if balance falls below $50.00	None	None	$6.00 if balance falls below $1,000.00	$8.00 if balance falls below $2,500.00, plus $5.00 per 3rd party debit over 3
Interest	No	Yes	Yes	No	Yes	Yes
Checks	Price Varies	Price Varies	Price Varies	1 Box free per calendar year	Price Varies	Price Varies
Statement	Paper with check images	Paper	Electronic with check images	Paper with check images	Paper with check images	Paper with check images

*Rates may change at any time after the account opens.
^Fees may reduce earnings.
+Must be 60 years of age or older to qualify.

 

Rewards Checking

The Rewards Checking account is our highest interest yielding checking account. This account opens with a $100.00 minimum and is available, at no fee.

Rate Information: Your interest rate and annual percentage yield may change.

Frequency of rate changes: We may change the interest rate of your account at any time.

Determination of Rate: At our discretion, we may change the interest rate on your account.

In order to qualify for the tiered interest rate you must meet the following REWARDS Checking requirements:

• 10 debit card transactions posted and cleared per qualification cycle
• 1 ACH deposit or debit posted and cleared per qualification cycle
• Receive electronic statements

Qualification Cycle is the 4th Wednesday through the 4th Tuesday of the following month.  If you do not meet these requirements, you will not earn interest.

Compounding and crediting frequency: Interest will be compounded every month. Interest will be credited to your account every month.

Effect of closing an account: If you close your account before interest is credited, you will not receive the accrued interest.

Minimum balance to open the account: You must deposit $100.00 to open this account.

Daily balance computation method: We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Accrual of interest on noncash deposits: Interest is paid on collected funds only and begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

Regular Checking

This is a great account for individuals who want a no-frills, no-fuss account. Those who open their account with $250 and maintain a $250 minimum balance at all times can enjoy unlimited check writing, online banking and unlimited Visa Check Card transactions. If at any time your balance drops below the minimum balance requirement, your account will be charged a small service fee of $5.00 each statement cycle.

• Minimum balance to open the account You must deposit $250.00 to open this account.
• Minimum balance to avoid imposition of fees A service charge fee of $5.00 will be imposed every statement cycle if the current balance in the account falls below $250.00 any day of the cycle.

N.O.W. Checking

We offer a competitive interest rate, unlimited check writing and provide easy access to funds. Open this account with $1000.00 and maintain $1000.00 to obtain the disclosed interested rate. A service charge fee of $6.00 will be imposed every statement cycle the current balance in the account falls below $1,000.00 any day of the cycle.

Rate Information: Your interest rate and annual percentage yield may change.

Frequency of rate changes: We may change the interest rate on your account at any time.

Determination of Rate: At our discretion, we may change the interest rate on your account.

Compounding and Crediting Frequency: Interest will be compounded every month. Interest will be credited to your account every month.

Effect of closing an account: If you close you account before interest is credited, you will not receive the accrued interest.

Minimum balance to open the account You must deposit $1,000.00 to open this account.

Minimum balance to avoid imposition of fees: A service charge fee of $6.00 will be imposed every statement cycle if the current balance in the account falls below $1,000.00 any day of the cycle.

Daily balance computation method: We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Accrual of interest on noncash deposits – Interest is paid on collected funds only and begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

Account Plus

There is a minimum of $50.00 to open the account and there are no services charges if the account balance stays above $50 during every day of the statement cycle. As soon as your account balance reaches $500.00 your account will begin to earn interest. If at any time your balance drops below the minimum balance requirement, your account will be charged a small service fee of $5.00 each statement cycle.

Rate Information: Your interest rate and annual percentage yield may change.

Frequency of rate changes: We may change the interest rate on your account at any time.

Determination of Rate: At our discretion, we may change the interest rate on your account.

Compounding and Crediting Frequency: Interest will be compounded every month. Interest will be credited to your account every month.

Effect of closing an account: If you close you account before interest is credited, you will not receive the accrued interest.

Minimum balance to open the account: You must deposit $50.00 to open this account.

Minimum balance to avoid imposition of fees: A service charge fee of $5.00 will be imposed every statement cycle if the current balance in the account falls below $50.00 any day of the cycle.

Minimum Balance to obtain the annual percentage yield disclosed: You must maintain a minimum balance of $500.00 in the account each day to obtain the disclosed annual percentage yield.

Daily balance computation method: We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Accrual of interest on noncash deposits – Interest is paid on collected funds only and begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

Senior Citizen Accounts

This checking account is available to our patrons ages 60 and older. With this checking account, there are no fees, no minimum balance requirements and as an added bonus, each Account holder receives a free box of checks every year.

Money Market Account

Similar to a traditional checking account, our Money Market Account allows you make withdrawals and write checks monthly within transaction limits while earning a higher interest rate than most accounts. A minimum of $2,500.00 is required to open and maintain a Money Market Account. If at any time your balance drops below the minimum balance requirement, your account will be charged a small service fee of $8.00 each statement cycle.

Rate Information: Your interest rate and annual percentage yield may change.

Frequency of rate changes: We may change the interest rate on your account at any time.

Determination of Rate: At our discretion, we may change the interest rate on your account.

Compounding and Crediting Frequency: Interest will be compounded every month. Interest will be credited to your account every month.

Effect of closing an account: If you close you account before interest is credited, you will not receive the accrued interest.

Minimum balance to open the account: You must deposit $2,500.00 to open this account.

Minimum balance to avoid imposition of fees: A service charge fee of $8.00 will be imposed every statement cycle if the current balance in the account falls below $2,500.00 any day of the cycle.

Daily balance computation method: We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Accrual of interest on non-cash deposits: Interest is paid on collected funds only and begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

Transaction Limitations: Transfers from a money market account to another account or to third parties by preauthorized, automatic, telephone or computer transfer are limited to six per statement cycle with no more than three transfers by check, draft, or similar order to third parties. More than six withdraws by check, draft or similar order to third parties will be charged $5.00 per item per cycle.

Additional Information: NOW account annual percentage yield will apply if your daily balance is less than $2,500.00 on any day during a month.