If it takes minimum effort for your business to operate with and maintain a minimum balance, Grand Bank & Trust of Florida invites you to start reaping the rewards. Grand Bank & Trust of Florida awards competitive interest payments based on balances, boosting a business’s bottom line. Tiered rates allow businesses to earn higher levels of interest with greater balance amounts.
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* On July 21, 2010, FDIC deposit insurance permanently increased from $100,000 to $250,000 per depositor.
All funds in a "noninterest-bearing transaction account" are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC's general deposit insurance rules.
The term "noninterest-bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It also includes Interest on Trust Accounts ("IOTAs"). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, money-market deposit accounts.
Fees can reduce earnings.