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Terms & Conditions

Our Terms & Conditions are broken down into two types of accounts, Checking Accounts and Interest-Bearing Accounts. Click each one below to find out more:

Checking Accounts:

 

The following conditions and charges apply to all the checking accounts offered at Flora Bank & Trust.1

  • Daily Cut Off: End of Business M-F
  • Returned Item Deposit: $5.00
  • Stop Payment Order: $34.97
  • Dormant Fee: $10.00
  • Inactive Service Charge Fee: $10.00
  • Assumed Days per Annum: 365
  • Minimum Additions: None
  • Insufficient Funds: $29.97 per item, per day
  • Overdraft Charges: $29.97 per item, per day
  • Continuous Overdraft (After 7 Days): $10.97 per day
  • Replacement Card: $15.00

 

First Reward Free Checking:

More information about our First Reward Free Checking account, including terms and conditions.

 

Freedom Checking:

Inactive Service Charge Fee: $10.00

1 The stipulations and charges governing individual types of accounts are listed under each respective account

Interest-Bearing Accounts:

 

Flora Bank & Trust offers several interest-bearing accounts. Because interest rates on these accounts are subject to change frequently, the rate paid on the account is not quoted on this page, but is available on our Deposit Rates page or upon request. The interest paid is calculated based on the average daily collected balance of your account.

NOW Accounts:

  • Minimum Opening Balance: $1,000.00
  • Fee Per Withdrawal: None
  • Dormant Account Fee: $10.00 per month after 1 year
  • Inactive Service Charge Fee: $10.00
  • Service Charge: $15.00 per month if average daily collected balance falls below $1,000.00
  • Overdraft Privilege (ODP) (for qualified account holders)

 

Super NOW Accounts:

  • Minimum Opening Balance: $2500.00
  • Fee Per Withdrawal: none
  • Dormant Account Fee: $10.00 per quarter after 1 year
  • Inactive Service Charge Fee: $10.00
  • Service Charge: $15.00 per month if average daily collected balance falls below $2,500.00
  • Overdraft Privilege (ODP) (for qualified account holders)

 

Liberty Investment Money Market Accounts:

  • Minimum Opening Balance: $2,500.00
  • Fee Per Withdrawal: $1.00 per withdrawal after 6 per month
  • Dormant Account Fee: $10.00 per month after 1 year
  • Service Charge: $15.00 per month if average falls below $2,500.00
  • Number of Debits Allowed Per Month: 6 ($1.00 per check thereafter. No limit on in-person withdrawals.)

 

Savings Accounts:

  • Minimum Opening Balance2: $50.00 (A service charge of $7.50 will be charged if the balance falls below $50.00 during the quarter.)
  • Fee Per Withdrawal: $5.00 per withdrawal after 3 per month
  • Minimum Balance to Earn Interest2: $50.00
  • Compounding Frequency: Quarterly
  • Dormant Account Fee: $10.00 per quarter after 1 year
  • Interest Payment Frequency: Quarterly (March 1st, June 1st, September 1st, December 1st)
  • Replacement Passbook: $5.00

2  Minimum balance does not apply to students

 

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