Why do our customers prefer this account? Simple, because it pays higher rates on higher balances.
- Competitive, Tiered Interest
- Enhanced Access to Funds
- Free Digital Banking
- Maximize earnings on your higher savings balance
- Competitive, tiered interest — higher balances earn higher rates1
- Avoid the $10 monthly maintenance fee by maintaining a $2,500 minimum daily balance
- Enjoy flexibility with enhanced access to funds, including direct check writing:2
- Free digital banking, including:
- Online banking
- Mobile banking with mobile deposit
- eStatements (sent monthly)
- And more
- Free telephone banking
- Surcharge-free ATMs available3
- Identity theft protection available
- $1,000 minimum deposit to open
ICS®, the Insured Cash Sweep® service, is a smart, convenient way for bank customers to access multi-million-dollar FDIC protection on large deposits placed into money market deposit accounts.
With the ICS® service, you can:
Rest assured. Make even large deposits eligible for protection that’s backed by the full faith and credit of the federal government.
Save time. Work directly with just our bank—a bank you know and trust. Forego opening accounts under different insurable capacities or managing multiple bank relationships. And, if you are accustomed to collateralization, reduce the need to track collateral on an ongoing basis.
Earn interest. Put excess cash balances to work in interest-bearing savings accounts (money market deposit accounts).
Bank Safe, Bank Smart®
Placement of funds through the ICS® service is subject to the terms, conditions, and disclosures in the service agreements, including the Deposit Placement Agreement (“DPA”). Limits and customer eligibility criteria apply. In the ICS savings option, program withdrawals are limited to six per month. Although funds are placed at destination banks in amounts that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”), a depositor’s balances at the relationship institution that places the funds may exceed the SMDIA (e.g., before ICS® settlement for a deposit or after ICS® settlement for a withdrawal) or be ineligible for FDIC insurance (if the relationship institution is not a bank). As stated in the DPA, the depositor is responsible for making any necessary arrangements to protect such balances consistent with applicable law. If the depositor is subject to restrictions on placement of its funds, the depositor is responsible for determining whether its use of ICS® satisfies those restrictions. ICS®; Insured Cash Sweep; and Bank Safe, Bank Smart are registered service marks of IntraFi Network, LLC.
1Interest Rates and Annual Percentage Yields (APY's) are available upon request or by viewing our rates page.
2Withdrawals in excess of four (4) per month will result in additional fees. A fee applies for each check written in excess of three (3) per month.
3M&M Bank is a member of the MoneyPass® Surcharge-Free ATM network. Use of any MoneyPass® ATM will not result in a fee from M&M Bank, nor the owner of the MoneyPass® ATM. Transactions at non-participating foreign ATMs may result in a fee from the ATM owner. Look for the MoneyPass® logo for surcharge-free ATM transactions.