Patriots Bank N.O.W. Checking Account

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.

Account Features

• Earn interest on account balance • Free Monthly statement with images • Free Online Banking • No monthly fee for downloading to Quicken or Quickbooks • Free Mobile Banking* • Free Phone Banking • Debit/ATM card available with approval • Free Notary service

Fees

• Minimum opening deposit: $500.00 • $7.50 monthly service fee if Average Daily Balance falls below $500.00 Or • $5.00 monthly service fee if Average Daily Balance falls below $1,000.00 • An excessive debit fee of $.20 will be charged for each debit in excess of 25 • All Service Fees will be waived if a $1,000.00 average daily balance is maintained.

Account Options

• E-Statement • Bill Pay

Minimum balance to open the account - We require a deposit of $500.00 to open this account.
Rate Information - Your interest rate and annual percentage yield may change.
Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.
Fees:
*An excessive debit fee of $.20 will be charged for each debit in excess of 25 during a month. This fee will not apply if you maintain an average daily balance of $1,000.00 in the account.
Minimum balance to avoid imposition of fees - if your average daily balance falls below $500.00 for the month we will impose a service charge fee of $7.50 once during the statement cycle. 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. If your average daily balance is at least $500.00 but no more than $999.99 for the month we will impose a service charge fee of $5.00 once during the statement cycle. 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. If your average daily balance is $1,000.00 or more no monthly service charge will be imposed.
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).
Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest.