Checking Accounts

OVERVIEW

When opening an account with Western Nebraska Bank, you need to deposit $100 for consumer checking or $25 for a savings account, unless you or your family already has an account relationship with us. A money market account will require a minimum $1,000 to open, and a NOW account $1,500.

Interest on checking accounts (if applicable) and money market accounts is compounded and credited to the account each month on the last business day of the statement cycle. Interest on savings accounts is compounded and credited to the account on the last day of each calendar quarter.

Interest is computed by applying a daily periodic rate to the available balance in the account on each calendar day. Interest begins to accrue on the business day that you make your deposit. Your interest rate and annual percentage yield (APY) may change. At the bank’s discretion we may change the interest rate at any time.

Tiers, current interest rate, and annual percentage yields are posted in the lobby of the Bank or are available on request. You must purchase your own printed checks unless it is otherwise stated in this fee schedule. Prices for printed checks will vary.

The automatic transfer of funds from your personal money reserve plan account to your checking account is available on request (with no transfer charges) to prevent overdrafts. To qualify for a personal money reserve plan account we must have a signed agreement with all parties authorized to sign on the account. You must be a legal contractual age or have a cosigner who is of legal age. Prior credit approval is required.

The account service charges (maintenance and activity fees) are outlined in each of the account descriptions that follow. Additional account related fees and other fees for banking services are also disclosed in this schedule. The fees on interest bearing accounts (if applicable) could reduce the earnings on your account.

available checking accounts

Personal Checking

This Checking Account is designed as our classic account. There will be no service charge when you maintain a $450 daily minimum balance. If your minimum balance falls below that, the following schedule will apply:

Between $300 and $449…………….$2.00
Between $150 and $299…………….$4.00
Between $149 and $000…………….$6.00

There is a $.25 debits fee for each debit to the account in excess of 25 debits per statement cycle.

Double Nickel Checking

This account is for those that are age 55 or older. Interest is earned by maintaining a minimum average daily balance greater than $550, with no service charges for balances less than $550. There are no services charges associated with this account.

Youth Checking

This checking account is available for youth 18 and under, who maintain low balances and write few checks. Statements are sent monthly to aid them in learning to reconcile their account. This account allows service charge free checking if the account has 20 or less debits per monthly statement cycle. A debits fee of $.25 will be assessed for each debit over 20.

Electronic Checking

This account does not have a monthly minimum balance requirement, no monthly maintenance fee and no activity charges. You have unlimited check writing privileges and your first order of 50 standard design checks is free. There is no fee for eStatements. If you choose to get paper statements in the mail, you will be charged a monthly fee of $6.00.

Now Checking Account

This checking account is designed for those who wish to earn interest on their account deposits. This account allows service charge free checking when you maintain a $1,500 average daily balance during the statement cycle. A $10 service charge will be assessed if the balance requirement is not met. A debits fee of $.25 for each debit to the account per statement cycle will be assessed but can be offset by a $.25 earnings credit on service charges for every $25 average balance.

Non-profit Organizational Checking Account

There will be no service charge when you maintain a $450 daily minimum balance. If your minimum balance falls below that, a $3.00 fee will be assessed.

There is a $.25 debits fee for each debit to the account in excess of 25 debits per statement cycle.

*Account related fees apply to the account.

** A statement that provides an image of the front side of all paid checks and deposit tickets will be provided. If you need another copy of a paid check, you will be provided with a photocopy of the front and back of that check at no charge.