Want a checking account that earns interest? We've got them!
M&P Investment Checking
- Minimum opening deposit - $5,000
- Unlimited deposits and check writing
- Interest is paid at a tiered rate
- Earns Interest* when terms are met
- Must receive eStatements. If statement is mailed a $5 monthly fee will apply.
- Must maintain an average daily balance of $5,000 or more to avoid a $5 service charge each statement cycle.
- If the above criteria is not met, interest will not be paid
- Interest is compounded and paid monthly. If the account is closed before interest is paid, all accrued interest may be forfeited
- Monthly statement with images
- Free Visa Debit Card with E-Statements - Card Subject to Approval
- Free 24-Hour account access through eBanking or 24-Hour Banking Anytime line
- FREE Payment services to make paying bills and people easier
- Annual fee for Merchants & Planters Bank Credit Card will be waived if annual average ledger balance of $75,000 or more is maintained in this account.
- Bounce Protection is not available
- If account is closed within 90 days of opening, a $25 charge may apply before the account is closed
*Interest rate is variable and subject to change. Interest is computed by using the Average Daily Balance
eNet Checking
- Minimum opening deposit - $100
- Earns interest when terms are met:
- Must receive eStatements
- Must have 12 or more Debit Card point of sale transactions post and clear per statement cycle (ATM transactions do not qualify)
- Must have one Direct Deposit and/or one ACH Debit post and clear per statement cycle
- If the above criteria is not met, interest will not be paid
- Interest is compounded and paid monthly. If the account is closed before interest is paid, all accrued interest may be forfeited
- $7.50 service charge applies every statement cycle if average balance falls below $1,000 during the statement cycle. Service charge WAIVED if receiving E-Statements or Direct Deposit
- Free Visa Debit Card with E-Statements or Direct Deposit – $1.00 per card per statement cycle applies if no E-Statements or Direct Deposit - Card Subject to Approval
- Unlimited deposits and check writing
- Bounce protection available upon approval
- Free 24-Hour account access through eBanking or 24-Hour Banking Anytime line
- FREE Payment services to make paying bills and people easier
- $2.00 Postage and Handling fee applies if receiving paper statements. Postage and Handling fee WAIVED if receiving eStatements.
- If account is closed within 90 days of opening, a $25 charge may apply before the account is closed
* Interest rate is variable and subject to change. Higher rate paid on balances up to $25,000. Balances in excess of $25,000 paid Advantage Plus Checking rate. Interest is computed by using the Average Daily Balance.
Advantage Checking
- Minimum opening deposit - $100
- Interest paid at tiered rate
- Interest is compounded and paid monthly. If the account is closed before interest is paid, all accrued interest may be forfeited
- Free basic checks
- $7.50 service charge applies every statement cycle if average daily balance falls below $500 during the statement cycle. Service charge WAIVED if receiving E-Statements or if overall deposit relationship is $25,000 or more
- Visa Debit Card – $1.00 per card per statement. Fee WAIVED if receiving eStatements or Direct Deposit. Card Subject to Approval.
- Unlimited deposits and check writing
- Bounce protection available upon approval
- Free 24-Hour account access through eBanking or 24-Hour Banking Anytime line
- FREE Payment services to make paying bills and people easier
- Monthly statement with images
- $2.00 Postage and Handling fee applies if receiving paper statements. Postage and Handling fee WAIVED if receiving eStatements or overall deposit relationship is $25,000 or more.
- If account is closed within 90 days of opening, a $25.00 charge may apply before the account is closed
Advantage Plus
- Minimum opening deposit - $100
- Age 55 and over
- Interest paid at tiered rate with Direct Deposit
- Must receive a Direct Deposit in the account per statement cycle to receive interest at current interest rate. No interest paid if not receiving Direct Deposit
- Interest is compounded and paid monthly. If the account is closed before interest is paid, all accrued interest may be forfeited
- Free basic checks
- $7.50 service charge applies every statement cycle if average daily balance falls below $500 during the statement cycle. Service charge WAIVED if receiving E-Statements or if overall deposit relationship is $10,000 or more
- ATM/Visa Debit Card, subject to approval, at no charge.
- Unlimited deposits and check writing
- Bounce protection available upon approval
- Free Cashiers Checks
- Free 24-Hour account access through eBanking or 24-Hour Banking Anytime line
- FREE Payment services to make paying bills and people easier
- Monthly statement with images
- $2.00 Postage and Handling fee applies if receiving paper statements. Postage and Handling fee WAIVED if receiving eStatements or overall deposit relationship is $10,000.00 or more
- If account is closed within 90 days of opening, a $25.00 charge may apply before the account is closed
Insured Money Market
- Minimum opening deposit - $2,500
- Higher interest paid on balances over $2,500
- Interest is compounded and paid monthly. You must maintain a minimum daily balance of $1.00 in the account each day to obtain the disclosed annual percentage yield. If the account is closed before interest is paid, all accrued interest may be forfeited
- Unlimited deposits
- 6 covered transactions allowed per statement cycle – each additional transaction $1.00*
- Covered transactions/withdrawals include:
Transfers or withdrawals made to another account of the same depositor at the same bank, if made by:
- Preauthorized transfer
- Automatic transfer
- Telephone, including fax, or
- M&P's Online or Mobile Banking services
Transfers or withdrawals to a third party (or to an account of the customer at another bank), if made by:
- Preauthorized transfer (ACH)
- Automatic transfer
- Telephone, including fax, or
- M&P's Online or Mobile Banking services
- Similar order made by the depositor and payable to third parties
*Repeated violations of excessive covered transactions could result in the account being closed - Unlimited transfers can be made in person, by mail, or at any M&P ATM
- Monthly statement with images
- No service charge if balance remains above $2,500 ($10.00 charge per statement cycle if balance falls below $2,500 during the statement cycle). Service Charge WAIVED if receiving eStatements or Direct Deposit or if overall deposit relationship is $25,000 or more
- Free 24-Hour account access through eBanking or 24-Hour Banking Anytime line
- If account is closed within 90 days of opening, a $25.00 charge may apply before the account is closed
Overdraft Protection is available for eNet, Advantage, and Advantage Plus accounts - Subject to Approval.
For more information regarding Overdraft Protection and our standard overdraft practices, please click here or contact any of our convenient locations.