Patriots N.O.W. Checking Account
With a N.O.W.
account from Patriots Bank, you earn a very competitive interest rate on a checking account you use every day.
- Earn interest on account balance
- Free monthly paper statement with images
- Free Online Banking
- No monthly fee for downloading to Quicken or Quickbooks
- Free 24 hour Bank Phone Line 1-888-471-6164
- Overdraft Privilege available with approval
- Debit/ATM card available with approval
- Free Notary service
- Minimum opening deposit $500.00
- No service fees if a $1,000 average daily collected balance is maintained
- $5.00 monthly service fee if average daily collected balance falls below $1,000
- $7.50 monthly service fee if average daily collected balance falls below $500.00
- $.20 per debit in excess of 25 during the statement cycle
Rate Information - Your interest rate and annual percentage yield may change.Frequency of rate changes - We may change the interest rate on your account at any time.Determination of rate - At our discretion, we may change the interest rate on your account.Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest.Minimum balance to open the account - Average daily balance computation method - We use the average daily balance method to calculate the interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. The period we use is the monthly statement cycle.Accrual of interest on noncash deposits - Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks)..