How it Works
1.  Deposit and Withdraw Money:   Funds collected from customers are deposited to your account as collected and payments may be made to a third party by check.
2.  Earn Interest:   Account receives a market rate of interest. Interest is credited and compounded monthly based on the daily collected balance in the account and on the number of calendar days in the year.
3.  Withdrawals:   Unlimited transfers or withdrawals are available when completed in person. The account can have up to six automatic, preauthorized, telephone or third party transfers per month, of which up to three can be by check per statement cycle.*
4.  Monthly Statement of Activity:   Each month you will receive a statement of account activity. The statement will include a list of all deposits made, paid checks listed in sequential order, interest earned, and the canceled checks for the month.

* As required by federal regulations, certain transfer limitations apply to certain Money Market Accounts. Up to six pre-authorized transfers or withdrawals (three of which can be made by check, draft or similar order made by the depositor and payable to a third party) are permitted each statement cycle. Transfers or withdrawals made in person, by mail, messenger, telephone (via a check mailed to the depositor) or by ATM are not subject to the limitation. You may also make unlimited transfers from this account to pay loans you owe to First Midwest Bank. If you exceed the transfer limitations in addition to the per item charge, you account may be closed or your funds transferred to a non-interest bearing checking account. There is also a substantial fee of $25.00 per item over the allowed limit.

Return to Investment