Savings Accounts
| Accounts | Minimum To Open | Service Charge Fee | ExcessWithdrawal Fees | Interest Paid | Other |
|---|---|---|---|---|---|
| New Generation Savings* | No minimum | N/A | N/A | Quarterly | External electronic transfers are not available on this account |
| Statement Savings* | $100 | $1 if Balance falls below $100 during the month | $1 for each debit transaction in excess of 3 during a statement cycle | Quarterly | |
| Business Statement Savings* | $100 | $1 if Balance falls below $100 during the month | $1 for each debit transaction in excess of 3 during a statement cycle | Quarterly | |
| Idaho Medical Savings* (Idaho Tax Filers only)** | $100 | $1 if Balance falls below $100 during the month | $1 for each debit transaction in excess of 18 during a statement cycle | Quarterly |
| Other Related Charges: |
$25 per Overdraft per item paid |
$15 collection item
|
*Savings Account and Money Market restricted transactions
Federal regulations limit the number of transfers from a Savings or Money Market Accounts. No more than six transfers can be made during each thirty(30) - day statement cycle by pre-authorized transfer, automatic transfer or telephone transfer (including data transmission by computer or other electronic devices). Of these six (6) transfers, no more than three (3) may be made by check, draft, or debit card. By law, if the above limits are exceeded three (3) times in a twelve (12) - month period, the account will be changed to a different type of account. For the purposes of the transaction limitation, we count Money Market checks as of the date we post them to the account, not the date they were written. An unlimited number of withdrawals may be made in person, by ATM, or by mail or messenger.
**For deductibility of contributions and interest and your ability to withdraw funds for eligible medical expenses without being subject to Idaho State income tax, please consult your accountant or tax advisor. A 10% penalty will be imposed by Idaho State Tax Commission on any non-medical withdrawals and withdrawals will also be subject to Idaho State income tax. A withdrawal of funds by an account holder for a non-eligible medical expense after reaching 591/2 years of age results in the amount of the withdrawal being included as gross income, but not subject to the 10% penalty. Stop payments can be issued on a Medical Savings account.
Click on the account names for more information about each account type.
The Bank of Commerce offers the following services with its savings accounts:
TeleXpress: This easy-to-use service puts your account information at your fingertips 24 hours a day with a simple phone call from the comfort of your home or office.
Bankofcommerce.org: With our Internet Banking service, you can bank anytime, anywhere, you have an Internet connection.
Direct Deposit: Enjoy the convenience of having access to your funds without having to go to the bank. You can authorize the Treasury or your employer to deposit your checks directly into your account.
