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 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.
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.
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.
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.
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.
We have cost effective options for our business customers. Call us for
more information!
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
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.
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.
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.
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.
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.
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!
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.
Be sure to ask one of our Service and Sales Representatives about these
other great companion products:
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.
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.
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.
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.
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.
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!
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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