Personal Checking Accounts
Military Salute - Direct - NOW - Personal (Basic, Value & Regular)

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Farmers & Merchants Bank & Trust offers a variety of checking accounts to serve your needs.

MILITARY SALUTE ACCOUNT (New 07/20/11)
             Military Salute Accounts are available exclusively for active and retired members of the military

               EXCLUSIVE MEMBER BENEFITS

  • No fee direct checking account with established direct deposit
  • Free introductory pack of personalized checks
  • Gift cards and community rewards
  • Discounted domestic wire fees
  • Discounted consumer loan fees

      PROGRAM REQUIREMENTS AND STIPULATIONS

  • The account may be opened with a deposit of $100 or more.
  • No minimum balance.
  • No monthly maintenance fee or per-check fee.
  • Free introductory welcome pack of personalized checks.
  • You must enroll in on-line banking and bill pay, and set up a minimum of 3 outgoing payments within 60 days of account opening or transfer to the Military Salute Account.
  • You must meet the following active account guidelines: 25 debit card transactions or make 3 online bill payments or outgoing transfers directly from the Military Salute Account within 60 days of the account opening to qualify for an exclusive $20 gift card.
  • Free incoming domestic wires.
  • Minimum of 2 outgoing domestic wire transfers per month to qualify for discount of 25% on your outgoing wire transfer fee.
  • You must meet consumer credit approval guidelines and have current direct deposit into the Military Salute account to qualify for consumer loan discount of 0.25% or1/4% (25 basis points).
  • You are entitled to apply for approval and use of a MasterMoney debit card with this account. Fees for debit card usage, Automatic Teller Machines (ATMs) or Point-of-Sale (POS) terminals are listed on our Miscellaneous Fee Schedule.
  • This is a variable rate account, which means that the interest rate and annual percentage yield may change. The current rate is 0.25% with an annual percentage yield of 0.25%. At our discretion, we may change the interest rate on the account daily.
  • Interest begins to accrue on the business day you deposit cash or non-cash items (such as checks). Interest does not accrue on amounts withdrawn on the date of withdrawal.
  • Interest is compounded and paid monthly on the statement cycle date. If you close your account before interest is credited, you will receive the interest accrued to the date of the closing withdrawal.
  • 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.
  • If you discontinue your direct deposit, the account will no longer be an interest bearing account. It will continue to be a no minimum balance account with no monthly maintenance or per-check charges.
  • Other account fees that may pertain to this account are contained in our Miscellaneous Fee Schedule.

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DIRECT CHECKING ACCOUNT

  • Account may be opened by completing an authorization to direct deposit your entire "paycheck" from your employer to this account.
  • There is no minimum balance.
  • There is no monthly maintenance fee or per-check charge.
  • A statement of activities is provided monthly. (Upon request, this statement may also be expanded to show activity on a statement savings account and loan information on a maximum of three (3) loans with monthly amortization terms.
  • This is a variable rate account, which means that the interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on the account daily. To view the current rate, click here.
  • Interest begins to accrue on the business day you deposit cash or non-cash items (such as checks). Interest does not accrue on amounts withdrawn on the date of withdrawal.
  • Interest is compounded and paid monthly on the statement cycle date. If you close your account before interest is credited, you will receive the interest accrued to the date of the closing withdrawal.
  • 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.
  • If the direct deposit of your "paycheck" is discontinued by you or by your employer, the account will no longer be an interest bearing account. It will however continue to be a no minimum balance account with no monthly maintenance fee or per-check charges.
  • Other account fees which may pertain to this account are contained in our Miscellaneous Fee schedule
  • Overdraft Protection is available on this account.
  • A F&M MasterMoney Card or an F&M ATM Card may be linked to this account for use at ATMs and Point-of-Sale merchants.
  • A complete disclosure, as required under Federal Truth-in-Savings, of the terms and conditions on the Direct Checking account is available upon request.

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REGULAR NOW ACCOUNT

Regular NOW accounts are available to individuals residing in the Wisconsin counties of Marinette and Oconto, and the County of Menominee in Michigan.

  • Account may be opened with a deposit of $100 or more.
  • If a minimum balance of $750 is maintained, there is no monthly maintenance fee or per-check fee.
  • If the minimum balance is not maintained, a monthly maintenance fee of $5.00 and a per-check fee of $0.15 are charged by the bank.
  • A statement of activities is provided monthly. (Upon request, this statement may also be expanded to show activity on a statement savings account and loan information on a maximum of three (3) loans with monthly amortization terms.)
  • This is a variable rate account, which means that the interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on the account daily. To view the current rate, click here.
  • Interest begins to accrue on the business day you deposit cash or non-cash items (such as checks). Interest does not accrue on amounts withdrawn on the date of withdrawal.
  • Interest is compounded and paid monthly on the statement cycle date.
  • 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.
  • Overdraft Protection is available on this account.
  • A F&M MasterMoney Card or an F&M ATM Card may be linked to this account for use at ATMs and Point-of-Sale merchants.
  • A complete disclosure, as required under Federal Truth-in-Savings, of the terms and conditions on the Personal NOW account is available upon request

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PERSONAL CHECKING ACCOUNTS

Personal Checking accounts are available to individuals residing in the Wisconsin counties of Marinette and Oconto, and the County of Menominee in Michigan.

The bank offers three different personal non-interest bearing checking account plans

Basic, Value and Regular

They were designed to fit your checking needs. The general terms and conditions on these checking account plans are similar. The major differences are in the required account balances and the level of service charges the bank will charge. Please review the general terms and conditions and the individual aspects of each plan. A complete disclosure, as required under Federal Truth-in-Savings, of the terms and conditions on our Personal Checking accounts is available upon request.

General Terms and Conditions

- Account may be opened with a deposit of $100 or more except for the Basic Plan which has an opening deposit requirement of $25 or more.
- A statement of activities is provided monthly. (Upon request, this statement may also be expanded to show activity on a statement savings account and loan information on a maximum of three (3) loans with monthly amortization terms.)
- No interest is paid on these accounts.
- An
F&M MasterMoney Card or an F&M ATM Card may be linked to these accounts for use at ATMs and Point-of-Sale merchants.
-
Overdraft Protection is available on these accounts.
-
Direct Deposit to these accounts is also available.

Basic Checking Account
- There is no minimum balance requirement.
- There is a monthly maintenance fee of $2.00
- The maximum number of checks which may be written on this account is ten (10) per statement cycle.
- Checks written in excess of the maximum number allowed per statement cycle will cost $0.50 each.

Value Checking Account
- There is no minimum balance requirement.
- If an average balance of $500 is maintained, there is no monthly maintenance fee or per-check fee.
- If the average balance is not met, a monthly maintenance fee of $2.75 and a per-check fee of $0.10 apply.

Regular Checking Account
- There is a minimum balance requirement of $250.
- If a minimum balance of $250 is maintained, there is no monthly maintenance fee or per-check fee.
- If the minimum balance is not maintained, a monthly maintenance fee of $2.00 and a per-check fee of $0.15 apply. -

To assist you in making a determination of what Personal Checking Plan is right for you
review the following information and calculate your service charge using the following schedule;

  • Your average monthly account balance on your last non- interest bearing checking account statement.
  • The number of checks posted to your account on your last monthly non-interest bearing checking account statement.
  • The service charges you paid on your last monthly non-interest bearing checking account statement, if any.
  • Remember, there are no service charges if you meet the Value or Regular Plan account's minimum or average balance requirements.
Service Charge Item Basic Checking Value Checking Regular Checking
Minimum Balance None None $250.00
Average Balance None $500.00 None
Monthly Maintenance $2.00 $2.75 $2.00
Number of Free Checks 10 None None
Per Check Fee $0.50 $0.10 $0.15

Example 1 - Your average balance on your last statement was $600, the minimum balance was $125, and 30 checks were posted on your statement. Do not count electronic or automatic debits.

Service Charge $12.00 None $6.50

Example 2 - Your average balance on your last statement was $400, the minimum balance was $125, and 30 checks were posted on your statement. Do not count electronic or automatic debits.

Service Charge $12.00 $5.75 $6.50

Example 3 - Your average balance on your last statement was $400, the minimum balance was $350, and 30 checks were posted on your statement. Do not count electronic or automatic debits.

Service Charge $12.00 $5.75 None

Example 4 - Your average balance on your last statement was $400, the minimum balance was $125, and 10 checks were posted on your statement. Do not count electronic or automatic debits.

Service Charge $2.00 $3.75 $3.50

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