business savings accounts - Peoples State Bank

savings & money market accounts


business savings business advantage
money market

Monthly service charge

$5 if daily minimum
balance falls below $100

$10 if daily minimum
balance falls below $2,500

Minimum to open account



Earns interest

On balances of $100
or more

Balance earns interest
based on tiered rates

Number of FREE

$1 per withdrawal after

$1 per withdrawal after

Number of FREE

$0.15 per deposited
item after

$0.15 per deposited
item after

Additional account features

Free and unlimited use of
Online and Telephone

Free and unlimited use of
Online and Telephone Banking

Checks provide you with
easy access to your money


*Federal regulations prohibit you from making more than a total of six transfers each month to other accounts from a savings or money market account (including transfers to another account for overdraft protection) or to third parties each month by pre-authorized or automatic agreements, telephone or electronic and online transfers; and no more than three of the six may be made by check (if applicable), through point of sale purchase transactions with a banking card or through similar payments to a third party. See your account agreement for more information. Other limits may apply to your account. Peoples charges may apply for use of another financial institution’s ATMs. Additionally, other financial institutions may charge for using their ATMs.


Additional Account Related Information
Federal Reserve Regulation D prohibits more than six preauthorized transfers per statement cycle.

The Bank reserves the right to convert a personal account to a business account when the account is being used for business purposes. Examples include when the printed checks for the account include a “doing business as” (d/b/a) designation or when the deposit being made to the account includes checks made payable to a business. You will receive a notice regarding a conversion of your personal account to a business account.

Disclosures Regarding Electronic “ Wholesale Credit” Transactions
Subject to Uniform Commercial Code Article 4AProvisional Payment: Credit given by us to you with respect to an automated clearing house credit entry is provisional until we receive final settlement for such entry through a Federal Reserve Bank. If we do not receive such final settlement, you are hereby notified and agree that we are entitled to a refund of the amount credited to you in connection with such entry, and the party making payment to you via such entry (i.e. the originator of the entry) shall not be deemed to have paid you in the amount of such entry.

Notice of Receipt of Entry:
Under the operating rules of the National Automated Clearing House Association, which are applicable to ACH transactions involving your account, we are not required to give next day notice to you of receipt of an ACH item and we will not do so. However, we will continue to notify you of the receipt of payments in the periodic statements we provide to you.

Choice of Law:
We may not accept on your behalf payments to your account which have been transmitted through one or more Automated Clearing Houses (ACH) and which are not subject to the Electronic Fund Transfer Act and your rights and obligations with respect to such payments shall be construed in accordance with and governed by the laws of the state of New York, as provided in the operating rules of the National Automated Clearing House Association, unless it has been otherwise specified in a separate agreement that the law of some other state shall govern.


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