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.