Personal Checking
What are the qualifications and benefits for the 50+ Interest Checking?
-A signer on the account must be 50 years old or older.
-Interest bearing and 1 box of FREE checks a year
What is the minimum amount to open a Premium MMA?
$100 minimum to open
Minimum to earn- APY $2,500
Minimum amount to earn Advertised APY- $25,000
Business Carter 250
What is the annual fee for business savings/MMA accounts?
There is no annual fee on ACTIVE accounts.
If the rates are going to change, when do they typically take effect?
Thursday's
What checking account(s) qualify for 1 Box of free checks per year?
-50+ Interest
-Loyalty Advantage
What are the 4 types of savings account that we offer?
Carter Savings
Personal Christmas Club
Carter MMA
Premium MMA
What is the monthly fee for Business 500 if qualification aren't met?
$25
What are the 3 most common Business Savings Products we offer?
-Business Carter Savings
-Business Carter MMA
-Business Premium MMA
What is the minimum balance fee for savings accounts?
$5 Monthly
What is the tiered interest rate for the Lifetime Plus Account and qualifications to obtain the interest?
-Interest rate- 4.88% APR with a 5.00% APY on your first $15,000 and then 0.50% on anything over $15,000
-15 Posted debit card transactions per month, At least one direct deposit or ACH, enroll in e-statements
*YOU MUST HAVE MET ALL 3 QUALIFICATIONS TO EARN INTEREST*
What is the minimum amount to open a Christmas Club and what is the maximum it can have in it per year?
To open- $10
Maximum of $5,000 per SSN
The fee is waived on business 500 account if what?
Waived if account maintains $10,000 daily balance OR $15,000 in aggregate deposit balances OR $50,000 in aggregate outstanding business loan balances.
How many in-person withdrawals can a business do from a Savings/MMA accounts?
Unlimited in-person
What is a variable rate?
A variable interest rate, also known as an adjustable or floating rate, is an interest rate that changes over time based on market conditions or an underlying benchmark.
What is the minimum balance for the Loyalty Advantage Account and the benefits of this account?
Minimum Balance- $25,000
Advantages- Higher interest rate, free cashiers checks, discount on loans (0.125%), free Outgoing wires
What is the minimum balance for Carter Savings?
$100
What are the qualifications for the Business Interest Checking?
To qualify, businesses must also maintain their core checking account with Carter Bank: Business 250 Checking, Business 500 Checking or Analysis Checking. As well as account maintains $25,000 daily balance or $50,000 in aggregate deposit balances (excluding time deposit) or $50,000 in aggregate outstanding business loan balances.
True or False?
The Business Carter Savings is a tiered interest rate.
False: The Business Carter MMA and Premium MAA are tiered business savings products.
What is the FDIC insured limit per signer?
$250,000
True or False?
The Lifetime Plus and Loyalty Advantage are variable rates.
True
What is the minimum balance for savings accounts that were grandfathered in?
There is no minimum balance.
Which type of business account has to be approved before moving forward with account opening?
MSB (Money Service Business)
How is interest calculated on savings accounts?
The daily balance method is used to calculate interest on the account.
EDIE Calculator