Checking Accounts
All three of our locations offer a variety of products and services to fit your banking needs.
Personal Banking
Palmyra State Bank realizes that the world of financial services is constantly changing, and we have set high standards for ourselves. We are committed to providing top quality products and services to our customers.
Personal Checking Accounts
Regular Checking Account - This checking account requires a deposit of $25.00 to open and a minimum monthly balance of $100.00 throughout the month to avoid a $7.50 account maintenance fee. This account does not limit the number of checks you may write each month or the number deposits you can make. This account will allow you access to our Visa Debit Card/ATM Card and 3 ATM machines located at our three offices, plus no-fee access to 3 ATM machines in Quincy, Illinois. Statements are sent monthly with check images for ease of storage in your Palmyra State Bank binder. The use of Palmyra State Bank's 24 Hour Access and Internet Banking are also available with this account. Bill Pay Service is available for three months at no charge, and is then available for a monthly fee of $5.00. This will allow you to pay up to 10 bills per month with a per item fee of $0.55 for bills paid in excess of 10.
Basic Checking - An initial deposit of $25.00 is all that is required to open the account. There are no monthly service charges, and no minimum balance requirements. Additional services include: Copies of cancelled checks for a fee of $2.00 each, and a Visa Debit Card/ATM Card is available with this account for a $5.00 sign-up fee. The use of Palmyra State Bank's 24 Hour Access and Internet Banking are also available with this account. Bill Pay Service is available for three months at no charge, and is then available for a monthly fee of $5.00. This will allow you to pay up to 10 bills per month with a per item fee of $0.55 for bills paid in excess of 10.
Personal Interest Bearing Checking Accounts
NOW Account - This interest bearing account requires an initial deposit of $500.00 to open the account and to obtain the annual percentage yield. To avoid a $10.00 monthly account maintenance fee and to continue accruing interest, the balance of the account must remain above $500.00 every day of the statement cycle. This account has unlimited check writing. Visa Debit Card/ATM Card access is available with this account as is our 24 Hour Phone Access service and Internet Banking. Statements are sent monthly with check images for ease of storage in your Palmyra State Bank binder. Bill Pay Service is available for a monthly fee of $5.00, which will allow you to pay up to 10 bills. A per item fee of $0.55 will apply for bills paid in excess of 10.
Charter Club NOW Checking Account - Our Charter Account is for customers over 62 years of age who want an interest bearing account with reduced and no fee privileges on many of our additional services. An initial deposit of $500.00 is required to open the account and to obtain the annual percentage yield. If the account falls below $500.00 any day of the cycle, a account maintenance fee of $10.00 will be imposed and interest will not accrue when the collected balance is below $500.00. The account has unlimited check writing, Visa Debit Card/ATM Card access, 24 Hour Phone Access service, Internet Banking and E-Statements at no extra charge. Statements are sent monthly with check images for storage in your Palmyra State Bank binder. Bill Pay Service is available for a monthly fee of $5.00, which will allow you to pay up to 10 bills. A per item fee of $0.55 will apply for bills paid in excess of 10.
Super NOW Account - Our Super NOW interest bearing account has all the benefits of the NOW account but yields a higher interest rate. The minimum balance requirement on this account is $1,500.00. A $10.00 monthly account maintenance fee is accessed if your balance falls below that amount anytime during the statement cycle and interest will not accrue on your balance during that time. Statements are sent monthly with check images for ease of storage in your Palmyra State Bank binder. Visa Debit Card/ATM Card access is available on this account as is our 24 Hour Phone Access, Internet Banking and E-Statements. Bill Pay Service is available for a monthly fee of $5.00, which will allow you to pay up to 10 bills. A per item fee of $0.55 will apply for bills paid in excess of 10.
Money Market Accounts
Cash Management Account - An initial deposit of $2,500.00 is required to open this account and to obtain the annual percentage yield. That balance must be maintained to avoid the $10.00 account maintenance fee for falling below that amount on any day during the statement cycle. Interest on this account is accrued based upon three tiers of interest rates subject to your available account balance. Transfers from a Cash Management account to another account or to third parties by preauthorized, automatic, telephone or computer transfer are limited to six per statement cycle with no more than three by check, draft, or similar order to third parties. A per check fee of $2.00 will be charged for each check paid in excess of three during a monthly statement cycle. Statements sent monthly with check images for ease of storage.
Pinnacle Fund - Invest in the new Pinnacle Fund Money Market Account and watch your money grow. This account earns a premium interest rate and you can still withdraw when you wish. The Pinnacle Fund requires an initial deposit of $25,000.00 and you must maintain that balance to get the maximum annual percentage yield. If the balance falls below $25,000, there is a $25 service charge and the account earns no interest on days that it is below that minimum.
Complete account disclosures are available upon request by contacting any of our three locations. For information on applicable rates, terms, and fees, please call a customer service representative at any of our three locations or click here to view our current rates.
