Make First Utah Bank your first choice for business money market accounts
First Utah Bank’s Business Money Market account is a great way to save while still having access to your money when you need it most! This account is designed for your business if you’re looking for tiered rates in an FDIC-insured account.
Recommended if… |
Your business maintains larger account balances and are looking for a competitive rate of return |
Minimum Opening Deposit |
$2,500 |
Transaction Limitations |
Limited to six withdrawals per month |
Minimum Balance Requirement? |
To avoid a monthly service fee, please maintain a daily average balance of $2,500 |
Does the account pay interest? |
Yes |
May I request paper statements? |
There is currently no fee for paper statements however it is free to sign up for eStatement and eNotice if that is your preference |
Free access to Mobile Banking, Internet Banking, Mobile Deposit and Alerts |
Yes |
Cash Management Services such as the Treasury Management Portal, Treasury Management Mobile, ACH Origination Services, Wires, Positive Pay, Remote Deposit accessible? |
Yes |
Minimum balance to open the account: A minimum of $2,500.00 is required.
Rate Information: The interest rate and annual percentage yield for your account depend upon the applicable rate tier. The interest rate and annual percentage yield for these tiers may change as shown on the rate chart. Current rate chart available at www.firstutahbank.com or by calling (801) 308-BANK (2265).
Transaction Limitations: This account is limited to 6 withdrawals per month. Withdrawals are transactions processed by Debit Card, check, ATM, ACH and wire transfer. Account to account transfers done in person, by telephone or online are not limited. Excess withdrawals will be subject to a $15 fee per transaction.
Daily balance computation method: We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on non-cash deposits: Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
Frequency of rate changes: We may change the interest rate on your account weekly.
Determination of rate: At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency: Interest will be compounded every month. Interest will be credited to your account every month.
Effect of closing an account: If you close your account before interest is credited; you will not receive the accrued interest.
Account Fees: Overdrawn balances accrue daily (calendar day) interest at 21.00% Annual Percentage Rate. An excess withdrawal fee of $15 per transaction on qualifying transactions under Transaction Limitations.
Minimum balance to avoid imposition of fees: A monthly service charge fee of $15.00 will be imposed every statement cycle if the balance in the account falls below $2,500.00 any day of the cycle.
|
Recommended if… |
|
Your business maintains larger account balances and are looking for a competitive rate of return |
|
Minimum Opening Deposit |
|
$2,500 |
|
Transaction Limitations |
|
Limited to six withdrawals per month |
|
Minimum Balance Requirement? |
|
To avoid a monthly service fee, please maintain a daily average balance of $2,500 |
|
Does the account pay interest? |
|
Yes |
|
May I request paper statements? |
|
There is currently no fee for paper statements however it is free to sign up for eStatement and eNotice if that is your preference |
|
Free access to Mobile Banking, Internet Banking, Mobile Deposit and Alerts |
|
Yes |
|
Cash Management Services such as the Treasury Management Portal, Treasury Management Mobile, ACH Origination Services, Wires, Positive Pay, Remote Deposit accessible? |
|
Yes |
Minimum balance to open the account: A minimum of $2,500.00 is required.
Rate Information: The interest rate and annual percentage yield for your account depend upon the applicable rate tier. The interest rate and annual percentage yield for these tiers may change as shown on the rate chart. Current rate chart available at www.firstutahbank.com or by calling (801) 308-BANK (2265).
Transaction Limitations: This account is limited to 6 withdrawals per month. Withdrawals are transactions processed by Debit Card, check, ATM, ACH and wire transfer. Account to account transfers done in person, by telephone or online are not limited. Excess withdrawals will be subject to a $15 fee per transaction.
Daily balance computation method: We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on non-cash deposits: Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
Frequency of rate changes: We may change the interest rate on your account weekly.
Determination of rate: At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency: Interest will be compounded every month. Interest will be credited to your account every month.
Effect of closing an account: If you close your account before interest is credited; you will not receive the accrued interest.
Account Fees: Overdrawn balances accrue daily (calendar day) interest at 21.00% Annual Percentage Rate. An excess withdrawal fee of $15 per transaction on qualifying transactions under Transaction Limitations.
Minimum balance to avoid imposition of fees: A monthly service charge fee of $15.00 will be imposed every statement cycle if the balance in the account falls below $2,500.00 any day of the cycle.
What our customers say
“I have been banking here for many years, Aubrey and Connie always call me by name and have been so helpful with all of my banking needs. If you are looking for a great Bank, I highly recommend the Riverton branch”
“I have banked at the Riverton branch since they opened in 2008. I came over because of the management in that branch. If you miss the small bank customer service but need the banking services of a big bank, go into Riverton branch and open an account.”
“When my mother passed away and there were problems with her account they brought me in and helped me get it all sorted!”
“No Complaints, Best Bank ever, Thank you so much ❤️.”
