Business Money Market

Business Money Market

 

 

Welch State Bank’s Money Market Account is an interest bearing account designed specifically for corporations, for-profit organizations; partnerships; and other entities that are not eligible for interest-bearing checking accounts.

With a Welch State Bank Money Market Account you have the ability to write a limited number of checks and still earn interest.

This account allows six (6) third-party transactions to clear your account per statement cycle.

No matter what your business is, Welch State Bank offers a variety of financial products to our business checking account’s to make your banking as convenient as possible. Such as Cash Management Tools, Business Loans for all types of business related purposes, ATM Cards and Debit Cards, Direct Deposit, Cashier’s Checks, Notary Service, Wire Transfers, and Safety Deposit Box Rentals.

 

Rate information

At our discretion, we may change the interest rates for this account. Tier 1 – If your daily balance is $100,000.00 or more, the interest rate paid on the entire balance in your account will be 0.19% with an annual percentage yield (APY) of 0.19%. Tier 2 – If your daily balance is $50,000.00 or more, but less than or equal to $99,999.99, the interest rate paid on the entire balance in your account will be 0.14% with an annual percentage yield (APY) of 0.14%. Tier 3 – If your daily balance is $25,000.00 or more, but less than or equal to $49,999.99, the interest rate paid on the entire balance in your account will be 0.09% with an annual percentage yield (APY) of 0.09%. Tier 4 – If your daily balance is $10,000.00 or more, but less than or equal to $24,999.99, the interest rate paid on the entire balance in your account will be 0.040% with an annual percentage yield (APY) of 0.04%. Tier 5 – If your daily balance is $1,500.00 or more, but less than or equal to $9,999.99, the interest rate paid on the entire balance in your account will be 0.04% with an annual percentage yield (APY) of 0.04%.

Fees may reduce earnings.

The interest rate(s) and annual percentage yield(s) are accurate as of October 16, 2013. If you would like more current rate and yield information, please call us at (918)788-3373. The interest rates and annual percentage yields may change at any time.

Compounding frequency – Interest will be compounded monthly.

Crediting frequency – Interest will be credited into this account monthly.

Daily balance computation method – Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.

Accrual of interest on noncash deposits – Interest will begin to accrue on the business day you deposit noncash items (for example, checks) into your account.

Minimum balance to open – The minimum balance required to open this account is $1,500.00.

Minimum balance to obtain the disclosed annual percentage yield – You must maintain a minimum daily balance of $1,500.00 in your account each day to obtain the disclosed annual percentage yield.

Minimum balance to avoid Minimum Balance Fee – A minimum balance fee of $15.77 will be imposed every statement cycle if the balance of the account falls below $1,500.00 any day of the statement cycle.

Deposit limitations – You may make an unlimited number of deposits into your account.

Limitations on frequency of transfers – During any calendar month, you may not make more than six withdrawals or transfers to another account of yours or to a third party by means of a preauthorized or automatic transfer or telephone order or instruction, or by check, draft, debit card or similar order to a third party. If you exceed the transfer limitations set forth above in any statement period, your acount will be charged $2.29 per item that exceeds the six withdrawal limit and your account will be subject to closure by the financial institution.

Additional Terms – The following additional terms apply to this account: Overdraft fees apply to overdrafts created by check, in-person withdrawal, ATM withdrawal or other electronic means: provided, however, overdraft fees created by an ATM or everyday debit card transactions will not apply unless the account owner affirmatively consents to the overdraft service for such transactions.

 

Lender - Steve Owens Location - Miami, OK This position is responsible for discussing client's needs to recommend the best loan products for them while also effectively promoting the sale of bank products and services. The ideal candidate will be an outgoing, enthusiastic self-starter, and have excellent attendance. Candidate will also pursue new loan and deposit relationships as well as maintain or enhance existing relationships. Please contact Beth Lowery at 918-788-3373 , stop by for an application or send resume to: Welch State Bank Attn: Beth Lowery | PO Box 129 | Welch, OK 74369 | blowery@welchstatebank.com   Portfolio Manager | Welch Location | Welch, OK

This position is responsible for assisting our Loan Officers in preparing loan documentation and other various assisting duties.

The ideal candidate will be self‐motivated, confident, detail‐oriented, and analytical. They must also have the ability to multi‐task and manage time effectively while having professional demeanor, personal integrity, and have excellent attendance.

Please contact Beth Lowery at 918-788-3373 , stop by for an application or send resume to: Welch State Bank Attn: Beth Lowery | PO Box 129 | Welch, OK 74369 | blowery@welchstatebank.com   Full-Time Teller | Welch Location | Welch, OK This position is responsible for building strong customer relationships by providing outstanding customer service, effectively promoting the sale of bank products and services, and accurate teller transaction processing. The ideal candidate will be an enthusiastic self starter, have excellent attendance, possess outstanding customer service skills and have an eye for detail. Retail sales and cash handling experience preferred. Please contact Beth Lowery at 918-788-3373 , stop by for an application or send resume to: Welch State Bank Attn: Beth Lowery | PO Box 129 | Welch, OK 74369 | employment@welchstatebank.com
Lender - Steve Owens Location - Miami, OK This position is responsible for discussing client's needs to recommend the best loan products for them while also effectively promoting the sale of bank products and services. The ideal candidate will be an outgoing, enthusiastic self-starter, and have excellent attendance. Candidate will also pursue new loan and deposit relationships as well as maintain or enhance existing relationships. Please contact Beth Lowery at 918-788-3373 , stop by for an application or send resume to: Welch State Bank Attn: Beth Lowery | PO Box 129 | Welch, OK 74369 | blowery@welchstatebank.com   Portfolio Manager | Welch Location | Welch, OK

This position is responsible for assisting our Loan Officers in preparing loan documentation and other various assisting duties.

The ideal candidate will be self‐motivated, confident, detail‐oriented, and analytical. They must also have the ability to multi‐task and manage time effectively while having professional demeanor, personal integrity, and have excellent attendance.

Please contact Beth Lowery at 918-788-3373 , stop by for an application or send resume to: Welch State Bank Attn: Beth Lowery | PO Box 129 | Welch, OK 74369 | blowery@welchstatebank.com   Full-Time Teller | Welch Location | Welch, OK This position is responsible for building strong customer relationships by providing outstanding customer service, effectively promoting the sale of bank products and services, and accurate teller transaction processing. The ideal candidate will be an enthusiastic self starter, have excellent attendance, possess outstanding customer service skills and have an eye for detail. Retail sales and cash handling experience preferred. Please contact Beth Lowery at 918-788-3373 , stop by for an application or send resume to: Welch State Bank Attn: Beth Lowery | PO Box 129 | Welch, OK 74369 | employment@welchstatebank.com