At International Bank of Amherst, we want to help make your financial life better and easier to manage. That’s why we offer all these accounts: checking, money market, savings, Christmas Club, certificates of deposit, and Individual Retirement Accounts. And we have Companion Products that make it easy to access your money and account information. We've provided a description of the main features and fees of our accounts. For complete information about related fees, please contact us.

Checking
Checking accounts have become a basic necessity to manage your budget. A checking account can help you track how you spend your money. We’re happy to provide the information you need in an easy to read statement. Your "eStatements" are available online for approximately 12 months. You can even view your checking images online. We can help you monitor your spending habits. If you qualify for a Debit Card, you can use it as often as you like.

Regular Checking
Our Regular Checking is a good account to use if you don’t like to keep your investment dollars in your checking account.

Minimum balance to open this account - You must deposit $100 to open this account.
Minimum balance to avoid imposition of fees - A maintenance fee of $6.00 will be imposed every statement cycle if the balance in the account falls below $100.00 any day of the cycle. We will waive the monthly maintenance fee if you are over 61 and have your social security benefits directly deposited.

Basic Checking
Our Basic Checking is a great account if you don’t plan to write a lot of checks. It’s easy to have free checking at IBA!

Minimum balance to open this account - You must deposit $100 to open this account.
Minimum balance to avoid imposition of fees - Zero, subject to a maximum 10 checks per month. Each additional check will result in a fee of $.25 per check.

Interest Checking
Our interest checking is great because we pay interest on your balance.

Rate Information - Your interest rate and annual percentage yield may change.
Frequency of rate changes - We may change the rate at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.
Minimum balance to open this account - You must deposit $1000 to open this account.
Minimum balance to avoid imposition of fees - A maintenance fee of $10.00 will be imposed every statement cycle unless you maintain either a minimum daily balance of $1,000 in this account or a minimum daily balance of $2,500 in a savings account or a minimum daily balance of $10,000 in a certificate of deposit.
Daily balance computation method - 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.
Accrual of interest on non-cash deposits - Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks).
Tiered interest rates are paid on the entire collected balance of your account.

Social, Sport and Regular Organization Checking
We like to help non profit and social organizations keep their funds working for their cause, rather than their expenses. This account is just the way to avoid paying fees!

Minimum balance to open this account - You must deposit $100 to open this account.
Fees: A per check charge fee of $.25 will be charged for each check paid in excess of ten during a month.

Business Checking
We have cost effective options for our business customers. Call us for more information!

Money Market
Our Money Market account lets you combine the benefits of earning more interest while being able to issue checks.

Rate Information - Your interest rate and annual percentage yield may change.
Frequency of rate changes - We may change the rate at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.
Minimum balance to open this account - You must deposit $1000 to open this account.
Minimum balance to avoid imposition of fees - A maintenance fee of $10.00 will be imposed every statement cycle if the balance in the account falls below $1,000 any day of the cycle.
Daily balance computation method - 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.
Accrual of interest on non-cash deposits - Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks).
Tiered interest rates are paid on the entire collected balance of your account.
Transaction limitations - Transfers from this account to another account or to third parties by pre-authorized, automatic or telephone transfer, or by check are limited to six per statement cycle.
Fees: $5.00 per withdrawal in excess of six per statement cycle

Savings
Whatever your age or stage in your financial life, we have a savings account to help you achieve your goals. We even have one that will help you get ready for Christmas shopping.

Statement Savings
This is a very popular account. Your money earns interest but you can withdraw at any time. You get a regular statement so you can watch your savings grow!

Rate Information - Your interest rate and annual percentage yield may change. Frequency of rate changes - We may change the rate at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every day. Interest will be credited to your account every quarter.
Minimum balance to open this account - You must deposit $100.00 to open this account.
Minimum balance to avoid imposition of fees - A maintenance fee of $5.00 will be charged for each month if the balance in the account falls below $100.00 any day of the month.
Daily balance computation method - 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.
Accrual of interest on non-cash deposits - Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks).
Transaction limitations - Transfers from a Statement Savings account to another account or to third parties by telephone transfer are limited to six per month with no transfers by check, draft, debit card, or similar order to third parties.
Fees - $5.00 per withdrawal in excess of six per statement cycle.

Children/Senior Savings
We like to help parents teach their children about good savings habits. We also like to thank our seniors for the contributions they’ve made to the community. So we don’t have a big balance requirement to avoid the minimal fee while we continue to pay interest.

Rate Information - Your interest rate and annual percentage yield may change.
Frequency of rate changes - We may change the rate at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every day. Interest will be credited to your account every quarter.
Minimum balance to open this account - You must deposit $25.00 to open this account.
Minimum balance to avoid imposition of fees -A maintenance fee of $2.50 will be charged for each month if the balance in the account falls below $25.00 any day of the month.
Daily balance computation method - 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.
Accrual of interest on non-cash deposits - Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks).
Transaction limitations - Transfers from a Statement Savings account to another account or to third parties by telephone transfer are limited to six per month with no transfers by check, draft, debit card, or similar order to third parties.
Fees - $5.00 per withdrawal in excess of six per statement cycle.

Christmas Club
This is a great way to save money for additional year end expenses - whether they are presents for family or friends, or property taxes. You save the money; we’ll send you a check in early October. Use Automatic Transfer for painless savings and you’ll automatically start saving for next year!

Rate Information - Your interest rate and annual percentage yield may change.
Frequency of rate changes - We may change the rate at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded annually. Interest will be credited to your account annually.
Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest.
Daily balance computation method - 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.
Accrual of interest on non-cash deposits - Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks).
If any withdrawal is made from this account before November 1 then this account may be closed.

Health Savings
If your employer provides health insurance benefits through a HSA qualified high deductible health plan, you may be eligible for a Health Savings Account. The IRS website has information about the qualifications for these accounts. Click here to go to the IRS website. You may need to use the search feature to get the latest publication. Or call us for a brochure explaining the basics.

Rate Information - Your interest rate and annual percentage yield may change.
Frequency of rate changes - We may change the rate at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency -Interest will be compounded every day. Interest will be credited to your account every month.
Minimum balance to open this account -You must deposit $100.00 to open this account.
Minimum balance to avoid imposition of fees -There are no fees.
Daily balance computation method -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.
Accrual of interest on non-cash deposits -Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks).
Transaction limitations -All transactions are subject to the rules imposed by the Internal Revenue Service.  This includes contribution limitations and distributions are allowed for qualified medical expenses. Please refer to the IRS or your tax advisor.
Withdrawal options -You can use checks, a debit card, or in-person withdrawals to pay your qualified medical expenses.

Certificates of Deposit
Want to earn more interest? Have more time before you’ll need your savings dollars?
Our Certificates of Deposit pay higher interest, and we have terms between 3 months and 5 years! Call us for more information!

Individual Retirement Accounts (IRA)
Make full use of your tax breaks while you prepare to retire. We offer Traditional and Roth IRAs. While we can’t tell you the tax benefit to you, we can help decide which Certificate of Deposit is the best choice for you.

Companion Products
Be sure to ask one of our Service and Sales Representatives about these other great companion products:

Debit Cards work like magic at over 9 million locations worldwide.
Simply present your IBA Debit Card to any merchant that accepts MasterCard. Your checking statement will have the details about the date, the merchant, and location of your purchase. You may also use your Debit Card at ATMS for 24-hour access to make cash withdrawals and deposits. MasterCard Secure Code is a security program from MasterCard. It ensures that your debit card number can be used only by you to authorize transactions over the WEB. For more information about the program, please contact us.

Automatic Transfers to loans or savings are easy to arrange. We can arrange to transfer funds on a regular basis. Transfers to savings on payday will ensure that you reach your savings goals. Transferring funds to make a loan payment will save postage, reduce the interest you pay on your loan, and prevent late fees. Your statement will provide the details of the transfer.

Automatic Transfers to prevent overdrafts will ensure that an accounting or timing mistake won’t cause you to pay overdraft fees. You won’t be embarrassed by a returned check.

Automated Clearing House (ACH) transactions are an easy way to make sure that your paycheck is deposited on payday and your bills are paid on time. Call us for more details.

eStatements are a great way to go green. Through our Online Banking service, we are able to provide electronic statements instead of mailing you paper copies. Sign up through Online Banking, or give us a call.

Free Online Banking is a great way to view your account activity, make transfers, and even download transactions to your P.C. We want to make it easy for you to work with your accounts - on your schedule, not ours!

Night Deposit allows you to deposit money or pay your loan when we’re not open. Just drive up next to the building, roll down your window and drop it in the secure drawer. Your money will be safe until we get here and process your transaction.

 
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International Bank of Amherst
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