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Magnolia State Bank Personal Banking
Magnolia State Bank offers the following Accounts:
REGULAR CHECKING ACCOUNT
Minimum amount to open account - $100
Monthly maintenance fee:
$600 or more........$0
Below $600..........$6
Unlimited check writing
Receive check images on statement
THRIFTY CHECKING ACCOUNT
This account is for individuals who write only a few checks each
month and prefer no minimum balance requirements. If you write fewer
than 25 checks with the Thrifty Checking plan, you will save
transactions fee versus our Regular Checking plan. Only available in
certain markets. Call your local MSB for details.
Minimum amount to open the account....$100
Monthly maintenance fee.......................$1.00
Transaction fee per check/debit..............$0.20
Drafts/automatic withdrawals..................$0.00
IMAGE FREE CHECKING
Minimum amount to open account - $100
Images of checks will not be returned with statements
Minimum of four debit card transactions per month
If less than four transactions per month, there will be a $6.00 per
month maintenance fee
Only available in
certain markets. Call your local MSB for details.
STUDENT CHECKING ACCOUNT
(Available to High School and College students to age 23)
No monthly maintenance fee
No minimum to open account
Monthly transaction fees:
First 20 checks .................Free
Each check over 20
.........$0.20
GENERATIONS GOLD CHECKING ACCOUNT
Minimum amount to open account -
$100
Monthly maintenance fee - $8.00
Benefits: Free
personalized checks; no minimum balance; unlimited check writing; no fee
ATM/check card; 24 hour telephone banking; no annual fee credit card
(upon approval); free photocopies; free notary service; $20,000 AD&D
Insurance.
Membership in Family Club,
which offers discounted travel, phone cards at 21/2 cents per minute,
discounts on vision needs and various other discounts.
CHURCHES, CLUBS, SCHOOLS, AND NON-PROFIT ORGANIZATIONS CHECKING ACCOUNT
No minimum to open account
Monthly maintenance fee:
$600 or
more........$0
Below $600.00
....$2.00
Monthly transaction fees:
First 20 checks/debit items ....Free
Each item over 20
................$0.20
NOW ACCOUNT
Market rate paid on entire balance
Minimum amount to open account - $1,500
Monthly maintenance fee:
Below $1,500.00 ............$7.50
No transaction fees
Unlimited Checking
Interest on NOW CHECKING is computed daily and compounded monthly.
The following accounts are
eligible for NOW CHECKING: individuals, sole proprietorships,
non-profit organizations, and governmental units. Accounts not eligible
for NOW CHECKING are as follows: partnerships, corporations, and
profit-making organizations.
MAGNOLIA CIRCLE
GOLD ACCOUNT (For customers age 50 and over)
This is a multi-service
account for customers age 50 and over. Benefit from a total banking
relationship, enjoy a package of financial services and earn high market
rate interest with checking account flexibility.
Minimum to open
account - $500.00
Earns interest on balances of $500.00 or more
Monthly maintenance fee:
$500.00 or more .............$0.00
Below $500.00 ...............$8.00
Benefits and Features:
Free personalized checks (one order per year)
Unlimited check writing
Free Internet Banking and Mobile Banking
Debit card
No issue fee on money orders, traveler’s checks or official checks
Complimentary notary service
Visa or Mastercard with NO annual fee
No charge for photocopies (up to 10 per month)
Travel excursions and member-only seminars and social events
MONEY MARKET ACCOUNTS
INDIVIDUALS:
Market rate paid
on entire collected balance
Minimum amount to open account - $2,500
Monthly maintenance fee:
$2,500.00 or more.............$0.00
Below $2,500.00 ..............$10.00
Unlimited transactions and no transaction fees for “in bank and
telephone” withdrawals and transfers.
SAVINGS ACCOUNT
Minimum amount to open account - $100
Quarterly maintenance fee
with a minimum balance of:
$300 or more ..................$0.00
Below $300 .....................$4.00
Charge per withdrawal over 6 quarterly - $2.00
A $25.00 early closing fee will be deducted if the account is closed
within 90 days of opening
MAGNOLIA SAVINGS ACCOUNT
Minimum amount to open account - $2,500
Quarterly maintenance fee with a minimum balance of:
$2,500.00 or more ............$0.00
Below $2,500.00 ..............$15.00
Charge per withdrawal over 6 quarterly - $2.00
Interest rate equal to Magnolia State Bank’s Six Month Certificate of
Deposit Rate
The following accounts are eligible for a
Magnolia Savings Account: Individuals, Sole Proprietorships, and
Non-Profit Organizations. Accounts not eligible for a Magnolia Savings
Account: Corporations, Partnerships, Profit-Making Organizations and
Governmental Units.
Only available in certain markets. Call your local MSB for details.
YOUTH SAVINGS ACCOUNT
Children under the age of 18 may open a passbook savings account with
only $100.00 and incur no service charge. An excessive withdrawal fee of
$2.00 per withdrawal will be imposed on accounts having over 6
withdrawals per quarter.
CHRISTMAS CLUB ACCOUNT
This account allows you to automatically
charge your checking account each month. (Minimum of $5.00 for your
Christmas Club payment). When Christmas shopping season begins, we will
mail you a check for the amount accumulated, plus your accrued interest.
If you prefer a coupon book, instead of the automatic deduction plan, we
will be pleased to supply one for $5.00. There is a $10.00 fee for
Christmas Club accounts closed prior to the regular distribution of the
checks.
Contact one of our customer service representatives today for information on how to apply for a Magnolia State Bank credit card.
Main branch, Bay Springs Tel: 601-764-2265
Member FDIC
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