F & M Bank - Established 1893
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Personal Banking > Checking
 

We offer several checking accounts to meet your banking needs. To learn more about specific account features, check out the individual account types that interest you.

Free Checking | Student Checking | Rewards Checking | NOW Checking

Free Checking Account
This is a service charge free, non-interest bearing checking account for individuals and non-profit organizations.

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Student Checking Account
This is a service charge free, non-interest bearing checking account for students up to age 25, with a discounted $5.00 return check/overdraft charge. You must show student ID.

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Rewards Checking Account
This is a service charge free, non-interest bearing checking account with a free check offer for persons over age 55.

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NOW Checking Account
This is an interest bearing account that requires a minimum opening balance as well as a minimum monthly balance to avoid imposition of fees.

Rate Information: Your interest rate and annual percentage yield may change.
Frequency of Rate Changes:
We may change the interest rate on your account 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.
Effect of Closing an Account:
If you close an account before interest is credited, you will not receive the accrued interest.
Minimum Balance to Open:
You must deposit $1500.00 to open this account.
Minimum Balance to Avoid Imposition of Fees:
A minimum balance fee of $6.00 will be imposed each monthly cycle if the average daily balance for the monthly statement cycle falls below $1500.00. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
Average Daily Balance Computation Method:
We use the average daily balance method to calculate the interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. The period we use is monthly.
Accrual of Interest on Noncash Deposits:
Interest begins to accrue on the business day you deposit noncash items (for example, checks).
Fees:
A withdrawal fee of $.25 will be charged for each debit transaction (withdrawal, check paid, automatic transfer or payment out of this account) in excess of 25 during a statement cycle. This fee will not apply if you maintain a daily balance of $1500.00 during the statement cycle. 

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FDIC & EHL