Rates Current as of Wednesday February 08, 2012

A summary of all transactions that occurred over the preceding month and could be associated with a deposit account or a credit card account.

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Banking & CD FAQs

How much money can I deposit into a national bank?

Generally, there is no limit on deposits. However, there are FDIC limitations to the amount of funds that are insured. Deposits held in federally insured banks are insured up to at least $100,000 for each depositor by the Federal Deposit Insurance Corporation (FDIC). Coverage is higher – up to $250,000 per depositor – for funds

How much money do I need to open up a different checking and savings account?

There is no regulation governing how much money is required to open a new account, regardless of whether that account is a checking, savings or certificate of deposit. The minimum amount needed to open a new account is at the discretion of the individual financial institutions. They will be able to identify the

How long can the bank place a hold on government checks (e.g., social security and treasury checks)?

Generally, a national bank will make funds deposited into an account by a government check available for withdrawal not later than the business day after the banking day on which the funds are deposited into an account held by the payee of the check and in person to an employee of the bank.

My bank is charging high maintenance fees on my checking account. Is this legal?

Yes. Federal law allows banks to charge non-interest charges and fees, including deposit account service charges. All fees should be determined on a competitive basis within the market. Each bank should make the decision on the type, amount, and method of calculation based on sound banking judgment and safe and sound banking

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