STATEMENT SAVINGS ACCOUNT
You can open a statement savings account with an initial deposit of $100.00. This account is free to anyone under age 18. For individuals over the age of 18, no fees are incurred if you keep your balance above $100.00 each month.
You will receive a monthly statement showing all activity for the account.
This account can be accessed by telephone transfer to another account. We do, however, warn users of the 3-withdrawal limitation per statement cycle. Federal Law considers savings accounts a restricted usage account. The fee for each withdrawal exceeding the 3-item limit is $1.00.
NOTE: If you close any interest bearing account before the accrued interest is credited, you will not receive the accrued interest.
Farmers Bank of Northern Missouri reserves the right to close any account.
If any account remains overdrawn for 30 consecutive days, the bank reserves the right to close the account.
By signing the signature card on any account, you each agree that we may without prior notice set off the funds in an account against any past due and payable debt to us now or in the future. In case of a partnership or joint owner, each agree to let the bank debit the account for one of the owners debt.