Personal Checking Account

The Personal Checking Account is our basic checking product. It is a non-interest bearing account that allows unlimited check writing per month with no charge. A minimum of $100.00 is required to open this account. The minimum daily balance must be $250.00 to avoid a $10.00 fee. This means that your balance can fluctuate even down to $1.00 during the month, but that the minimum daily balance on funds that have cleared must be $250.00. You will receive a monthly statement for this account. Your check images will be returned within the statement.

This account also allows MasterCard Debit Card usage with no annual fees. MasterCard Debit Cards are subject to credit approval via an application submitted to Bank of Coral Gables. There is no transaction charge for ATM usage at the ATM located at the Bank of Coral Gables or within the Presto (Publix) network. Fees will apply for ATM usage at financial institutions other than Bank of Coral Gables. Use your Bank of Coral Gables MasterCard Debit for purchases of goods or services anywhere the MasterCard Logo is displayed. Debit (PIN required) or Credit (signature required) transactions are also fee free.

Online Banking and Bill Payment services are also available with no annual fees and no transaction charges. Internet banking may incur charges from your Internet Service Provider (ISP) that are not associated with Bank of Coral Gables.

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Personal Interest (NOW) Checking Account

The Personal Interest Checking Account is an interest bearing checking account. The Negotiable Order of Withdrawal account, or NOW account as it is known in the industry, requires an initial deposit of $250.00 and a minimum daily balance of $1,000.00 to avoid the $10.00 monthly fee. The higher balance requirement is due to the interest paid on the account.

Rates fluctuate according to market conditions and are subject to change. Interest is compounded and credited monthly. Interest begins to accrue the day cash items are deposited and the business day that non-cash items are credited. We use the daily balance method to calculate interest on accounts. This method applies a daily periodic rate to the principal in the account each day.

This account receives monthly statements with images of your paid or cancelled checks.

Please click here for current interest rates for this account.

See how your checking account interest can add up by clicking this interest rate calculator feature. Please consult a tax advisor regarding the deductibility of interest.

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Personal Tiered Money Market Account

The Personal Tiered Money Market Account is an account with some restrictions on check writing placed by the Federal Reserve. A minimum deposit of $1,000.00, is needed to open this account and a minimum daily balance of $2,500.00, is needed to avoid a $10.00 monthly fee.

The Tiered Money Market account usually pays a higher rate of interest due to the limited number of checks that can be written per month. Due to the placed restriction on the liquidity of the account, the funds are viewed as being more stable, and therefore a higher rate of interest is usual. Federal regulations limit you to no more than six transfers or withdrawals (or a combination of six transfers and withdrawals) per monthly statement cycle by means of a preauthorized or automatic transfer, order of instruction, or telephonic (including data transmission) agreement. This applies to both transfers to another account at Bank of Coral Gables and to transfers to third parties.

However, there is no limit on the number of transfers for the purpose of repaying a loan and related expenses at Bank of Coral Gables. Also, there is no limit on transfers to another one of your deposit accounts at Bank of Coral Gables or withdrawals paid directly to you when such transfers are made in person, by mail or by messenger service. Similarly, there is no limit on the withdrawals requested by telephone to a personal banker and paid via cashiers check mailed to you. A $10.00 excess item fee will be charged to your account for each transaction that exceeds the maximum allowance of transfers per statement cycle.

This product pays different interest rates for specific levels of deposit balances. Rates fluctuate according to market conditions and are subject to change. Interest is compounded and credited monthly. Interest begins to accrue the day cash items are deposited and the business day that non-cash items are credited. We use the daily balance method to calculate interest on accounts. This method applies a daily periodic rate to the principal in the account each day.

This account receives monthly statements with images of written checks included.

A MasterCard Debit Card is available for this account but not recommended due to the Federal restrictions of withdrawal. The card may be used for the convenience of balance inquiry and transfer between accounts at Bank of Coral Gables without restriction. MasterCard Debit Cards are subject to credit approval via an application submitted to Bank of Coral Gables. There is no transaction charge for ATM usage at the ATM located at the Bank of Coral Gables or within the Presto (Publix) network. Fees will apply for ATM usage at financial institutions other than Bank of Coral Gables. Use your Bank of Coral Gables MasterCard Debit for purchases of goods or services anywhere the MasterCard Logo is displayed. Debit (PIN required) or Credit (signature required) transactions are also fee free.

Please click here for rates on this product.

See how your checking account interest can add up by clicking this interest rate calculator feature. Please consult a tax advisor regarding the deductibility of interest.

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Senior Checking Account

The Senior Checking Account is offered to customers age 55 and over. This account is a non-interest bearing account that allows unlimited check writing per month with no charge. There is a $100.00 minimum deposit required to open this account, but there are no minimum balance requirements after the initial deposit and no monthly fees.

This account receives monthly statements with images of written checks.

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Overdraft Sweep Protection

Overdraft sweep protection is available to our customers, with related deposit transaction accounts, in the event your checking account is overdrawn. Funds are automatically transferred in $100.00 increments from another checking or savings account to cover the overdraft amount. You pay a single sweep transaction fee for the convenience of this service, instead of paying a per item overdraft fee on your checking account.

Simply call or visit a Personal Banker for more information.

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