Checking Account Comparison

ultimate BANKING

Benefits:
Free Online Banking
Free Bill Pay
Free eMobile Banking
Free eStatement or paper statement

Additional Benefits:
No bank fee for out-of-network ATM transactions
1/2% rate reduction on consumer installment loans with automatic transfer from a Bank of Elk River checking account1,6
Free check options
$25 discount annually on Safe Deposit Box rent5
No fee cashiers checks, Travelers Express money orders
Tiered interest

Interest Paid: Yes2,3
Requirements: $10,000 combined deposit balances4
Monthly Balance Fee: $15 if requirements are not met

 

 

carefree BANKING

Benefits:
Free Online Banking
Free Bill Pay
Free eMobile Banking
Free eStatement or paper statement

Additional Benefits:
1/2% rate reduction on consumer installment loans with automatic transfer from a Bank of Elk River checking account1,6
Free check options
$10 discount annually on Safe Deposit Box rent5
No fee cashiers checks, Travelers Express money orders
Earn interest

Interest Paid: Yes2
Requirements: $750 minimum balance in checking
Monthly Balance Fee: $10 if requirements are not met
monthly balance requirements waived for age 50 and over

 

 

absolutely free CHECKING

Benefits:
Free Online Banking
Free Bill Pay
Free eMobile Banking
Free eStatement or paper statement

Additional Benefits:
1/4% rate reduction on consumer installment loans with automatic transfer from a Bank of Elk River checking account1,6
Free check safekeeping

Interest Paid: No
Requirements: None
Monthly Balance Fee: $0

apply-online.jpg

 

 

Health Savings Account

Set-up or Termination Fee: $0

Earn Interest: Yes2,3

Monthly Service Charge: $4 if balance falls below $1,500

Excess Contribution Correction Fee: $10

Account Access:The Bank Cash & Check Debit Card, checks also available
Statement Frequency: Month-end statement
Additional Features: Online Banking and Bill Pay available
Contribution Limits for 20157: The lesser of the amount of your deductible or:

  • $3,350 for individuals
  • $6,650 for families


Catch-up Contributions: Those age 55 through 64 are eligible


$25.00 minimum opening deposit required on all accounts (excluding Health Savings Accounts).

1 Subject to credit approval
2 Your interest rate and annual percentage yield may change at any time at our discretion. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example checks). Interest will be compounded monthly and credited to your account on every monthly statement. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
3 This is a tiered rate account.  Your interest rate and annual percentage yield may change based on the daily balance in your account.
4 Balances can include checking, savings, CD or IRA accounts.
5 Subject to availability.
6 Not available on first real estate mortgages; variable home equity lines of credit or Ready Reserve.
7 Subject to change with cost-of-living increases.