Personal banking accounts.
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Commercial banking accounts.
Revised 09/2023
The Account Portfolio provides information about the accounts Presidential Bank offers through its branches and/or website. This should be read in conjunction with the Deposit Account Rules and Regulations, Schedule of Fees, Deposit Rates, Electronic Funds Transfer Act Disclosure and Agreement, Check Hold Policy and any other materials provided for complete disclosure.
$500.00 (Personal Accounts only)
This account is an interest bearing account. The interest rate and annual percentage yield are included in the Rate Schedule. The interest rate/tier and annual percentage yield may change daily. The interest rate and annual percentage yield depend upon the applicable rate tier. The interest will apply only to the portion of the daily balance within the applicable tier. Interest begins to accrue on the first business day of your deposit. Interest is compounded and credited monthly on the last business day of the month. An electronic monthly deposit of $500.00 or more from payroll, pension, social security, or annuity is required. Each account must have a unique direct deposit source. Seven (7) electronic withdrawals per month are required (electronic withdrawals include: ATM, POS, ACH and BillPayments). Accounts that do not meet the deposit or withdrawal requirements will earn a lower rate as disclosed on the Rate Schedule. Deposit and withdrawal requirements are waived for the first month the account is in this product. The statement posting date will be used to determine transaction qualification. An electronic monthly deposit of $500 or more from payroll, pension, social security, or annuity is required. Each account must have a unique direct deposit source. At least seven (7) electronic withdrawals per month are required (electronic withdrawals include: ATM, POS, ACH and Bill Payments.) Accounts that do not meet the minimum deposit and withdrawal requirements will earn a lower interest rate as disclosed on the Rate Schedule. After the first month the account is open, accounts that do not meet the minimum deposit and withdrawal requirements, including the monthly direct deposit requirement and the requirement for a minimum number of electronic withdrawals each month, will earn a substantially lower interest rate for the month. That lower rate is as disclosed on the Rate Schedule.
We use the daily balance method to calculate interest on the account. This method applies a daily periodic rate to the principal in the account each day.
A monthly service charge will be assessed if the daily balance in the account falls below $500.00 any day during the statement cycle. Other related fees are found in the Schedule of Fees.
Free Online Banking, Mobile Banking with Remote Deposit and BillPayer. VISA® Debit Card* with CardValet (card controls) using our mobile app. Unlimited deposit and withdrawal transactions. Online Historical Statements, Check & Deposit Images and Money Management. Monthly statement with BillPay check images. ATM Surcharge Fee Rebate up to $8 is credited each statement cycle for surcharges by other domestic ATM owners. Direct deposit available. Free initial check order.
Write up to three (3) checks per month. Additional checks charged a fee. The statement posting date will be used to determine per check fees. Online Historical statements are required. Email deposit notifications are required.
$1,500.00 (Personal accounts only)
This account is an interest bearing account. The interest rate and annual percentage yield are included in the Rate Schedule. The interest rate/tier and annual percentage yield may change daily. The interest rate and annual percentage yield depend upon the applicable rate tier. The interest rate will apply only to the portion of the daily balance that is within the applicable tier. Interest begins to accrue on the first business day of your deposit. Interest is compounded and credited monthly on the last business day of the month.
A monthly service charge will be assessed if the daily balance in the account falls below $1,000.00 any day during the statement cycle. Related Account fees are found in the Schedule of Fees.
Free Online Banking, Mobile Banking with Remote Deposit and BillPayer. VISA® Debit Card* with CardValet (card controls) using our mobile app. Unlimited deposit and withdrawal transactions. Online Historical Statements, Check & Deposit Images and Money Management. Monthly statement with check images. Accounts opened online are provided electronic statements. Direct deposit available. Email Deposit Receipt Notification. Free initial check order. An electronic monthly deposit of $200.00 or more from payroll, pension, social security, or annuity is required. Each account must have a unique direct deposit source.
A monthly service charge will be assessed if the daily balance in the account falls below $500.00 any day during the statement cycle. Related Account fees are found in the Schedule of Fees.
Free Online Banking, Mobile Banking with Remote Deposit and BillPayer. VISA® Debit Card* with CardValet (card controls) using our mobile app. Unlimited deposit and withdrawal transactions. Online Historical Statements, Check & Deposit Images and Money Management. Monthly statement with check images. Direct deposit available. Email Deposit Receipt Notification. An electronic monthly deposit of $200.00 or more from payroll, pension, social security, or annuity is required.
$500.00 (Personal accounts only)
Free Online Banking, Mobile Banking with Remote Deposit and BillPayer. VISA® Debit Card* with CardValet (card controls) using our mobile app. Unlimited deposit and withdrawal transactions. Online Historical Statements, Check & Deposit Images and Money Management. Monthly statement with check images. Accounts opened online are provided electronic statements. Direct deposit available. Email Deposit Receipt Notification. Free initial check order.
This account is an interest bearing account. The interest rate and annual percentage yield are included in the Rate Schedule. The interest rate/tier and annual percentage yield may change daily. The interest rate and annual percentage yield depend upon the applicable rate tier. The interest rate of the applicable tier will apply to the entire daily balance in the account. Interest begins to accrue on the first business day of your deposit. Interest is compounded and credited monthly on the last business day of the month.
Free Online Banking, Mobile Banking with Remote Deposit and BillPayer. VISA® Debit Card* with CardValet (card controls) using our mobile app. Unlimited deposit and withdrawal transactions. Online Historical Statements, Check & Deposit Images and Money Management. Monthly statement with check images. Direct deposit available. Email Deposit Receipt Notification.
$100.00 (Personal Accounts only)
This account is not an interest bearing account.
A monthly service charge will be assessed if the daily balance in the account falls below $100.00 any day during the statement cycle. Related Account fees are found in the Schedule of Fees.
Free Online Banking, Mobile Banking with Remote Deposit and BillPayer. VISA® Debit Card* with CardValet (card controls) using our mobile app. Unlimited deposit and withdrawal transactions. Online Historical Statements, Check & Deposit Images and Money Management. Monthly statement with check images. Accounts opened online are provided electronic statements. Direct deposit available.
$25,000.00 (Personal accounts only)
This account is an interest bearing account. The interest rate and annual percentage yield are included in the Rate Schedule. The interest rate/tier and annual percentage yield may change daily. The interest rate and annual percentage yield depend upon the applicable rate tier. The interest rate will apply only to the portion of the daily balance that is within the applicable tier. Interest begins to accrue on the first business day of your deposit. Interest is compounded and credited monthly on the last business day of the month. Money Market Advantage Checking accounts have an average daily balance requirement of $25,000.00 to earn the highest rate. Accounts that do not meet this balance requirement will earn a lower rate as disclosed on the Rate Schedule.
A monthly service charge will be assessed if the daily balance in the account falls below $25,000.00 any day during the statement cycle. Related Account fees are found in the Schedule of Fees.
Free Online Banking, Mobile Banking with Remote Deposit and BillPayer. VISA® Debit Card* with CardValet (card controls) using our mobile app. Online Historical Statements, Check & Deposit Images and Money Management. Monthly statement with check images. Accounts opened online are automatically provided electronic statements and Email Deposit Receipt Notification.
One account per Tax ID number.
$1,000.00 (Personal accounts only)
Free Online Banking, Mobile Banking with Remote Deposit and BillPayer. VISA® Debit Card* with CardValet (card controls) using our mobile app. Monthly statement with check images. Accounts opened online are provided electronic statements. VISA® Debit Card*. Email Deposit Receipt Notification. Online Historical Statements, Check & Deposit Images.
$500.00 (Personal and commercial accounts)
Related Account fees are found in the Schedule of Fees.
Free consumer Online Banking, Mobile Banking with Remote Deposit, and ATM card*. Online Historical Statements, Deposit Images and Money Management. Monthly statement. Direct deposit available. Email Deposit Receipt Notification.
$500.00
Online Business Banking with Mobile and Remote Deposit (fees may apply). VISA® Debit Card* with CardValet (card controls) using our mobile app. Monthly statement with check images. Email Deposit Receipt Notification. Online Historical Statements, Check & Deposit Images. Payable Through Draft (requires prior Bank setup). Note: Commercial customers are prohibited from participating in unlawful Internet gambling.
$25,000.00
This account is an interest bearing account. The interest rate and annual percentage yield are included in the Rate Schedule. The interest rate/tier and annual percentage yield may change daily. The interest rate and annual percentage yield depend upon the applicable rate tier. The interest rate will apply only to the portion of the daily balance that is within the applicable tier. Interest begins to accrue on the first business day of your deposit. Interest is compounded and credited monthly on the last business day of the month. Commercial Money Market Advantage Checking accounts have an average daily balance requirement of $25,000.00 to earn the highest rate. Accounts that do not meet this balance requirement will earn a lower rate as disclosed on the Rate Schedule.
Online Business Banking with Mobile and Remote Deposit (fees may apply). VISA® Debit Card* with CardValet (card controls) using our mobile app. Monthly statement with check images. Email Deposit Receipt Notification. Online Historical Statements, Check & Deposit Images.
One account per Tax ID number. Note: Commercial customers are prohibited from participating in unlawful Internet gambling.
$5,000.00
CDs available for Personal and Commercial Accounts IRA Certificates of Deposit Available
$1,000.00
Free Online Banking & Mobile Banking
This account is an interest bearing account. The interest rate and annual percentage yield are included in the rate Schedule. The interest rate and annual percentage yield will not change for the term of the Certificate of Deposit unless you exercise the one-time rate Bump Up option (no longer available for new account opening). You must maintain a minimum balance of $1,000.00 to obtain the disclosed annual percentage yield. The annual percentage yield assumes interest remains on deposit until maturity. A withdrawal will reduce earnings. Interest begins to accrue on the business day of your deposit. Interest is compounded and credited monthly on the last business day of the month for CDs with a maturity of one year or more. Interest is compounded and credited at maturity for CDs with a maturity of less than one year. The rate for each renewal term will be determined by the Bank on or just before the renewal date. You may call us on or after the maturity date and we can tell you what the interest rate will be for the next renewal term.
The Bank uses the daily balance method to calculate interest on the account. This method applies a daily periodic rate to the principal in the account each day.
You may not make additional deposits into this account during a term (other than credited interest). You cannot withdraw principal from the account until the maturity date except for annual IRA required minimum distributions for customers 72 or older. If you withdraw any of the principal before the maturity, the Bank will impose a penalty. The penalty will vary depending upon the term of the CD.
The early withdrawal penalty equals the amount of interest that would have been earned during the number of penalty months shown, at the CD interest rate, on the amount withdrawn (whether or not such interest has actually been earned). In certain circumstances such as an IRA account where the owner is 72 or older, the death or incompetence of an owner of the account, law permits, or in some cases requires the waiver of the early withdrawal penalty.
CDs will automatically renew. Each renewal term will be the same as the original term, beginning on the maturity date (unless we notify you in writing before a maturity date of a different term for renewal). The prevailing rate of the equivalent product at the time of renewal will apply for each renewed CD. You must notify us in writing before, or within, the specified grace period if you do not want the CD to automatically renew. Interest earned during the term that is not withdrawn during the term or the grace period is added to principal for the renewal term. Interest will accrue after final maturity. No maturity notices will be mailed for 30 day CDs. Upon request the Bank may email a Certificate of Deposit maturity notice.
$100,000.00 (Personal accounts only)
This account is an interest bearing account. The interest rate and annual percentage yield are included in the Rate Schedule. The interest rate/tier and annual percentage yield may change daily. The interest rate and annual percentage yield depend upon the applicable rate tier. The interest rate will apply only to the portion of the daily balance that is within the applicable tier. Interest begins to accrue on the first business day of your deposit. Interest is compounded and credited monthly on the last business day of the month. Money Market Plus Checking accounts have an average daily balance requirement of $100,000.00 to earn the highest rate. Accounts that do not meet this balance requirement will earn a lower rate as disclosed on the Rate Schedule.
Free Online Banking, Mobile Banking with Remote Deposit and BillPayer. VISA® Debit Card* with CardValet (card controls) using our mobile app. Online Historical Statements, Check & Deposit Images and Money Management. Monthly statement with check images.
$100.00 (Personal and commercial accounts)
This account is an interest bearing account. The interest rate and annual percentage yield are included in the Rate Schedule. The interest rate/tier and annual percentage yield may change daily. The interest rate and annual percentage yield depend upon the applicable rate tier. The interest rate of the applicable tier will apply to the entire daily balance in the account. Interest begins to accrue on the business day of your deposit. Interest is compounded and credited monthly on the last business day of the month.
If you have a consumer or commercial account (checking or savings), you may receive deposit receipt notification via email (email address required). Email deposit notifications are a great way to make your life easier. No more waiting for your monthly statement to confirm that a deposit was received. No more calls to see if your direct deposit posted. The email notification contains a link to our password protected Online Banking service where, using your username and password, you can login to your account to view deposit details. The email does not contain any account details or personal information.
Email deposit notifications are standard for accounts opened online. If you have existing accounts, you can request to turn on email deposit notifications by calling Customer Service at 1-800-383-6266, sending a Secure Email within online banking or mailing a signed written request to: Presidential Bank Attn: Email Deposit Notifications 4520 East-West Hwy., Bethesda, MD, 20814.
The primary owner's email address provided at account opening can be verified through the Online Banking service. Login to Online Banking and select My Settings located at the top of the page. View the email address in the Primary email address field.
To accept this email address: No action is necessary.
For more details, visit our Email Deposit Notification page.
*APY = Annual Percentage Yield Presidential Bank reminds you that email@presidential.com is NOT a secure means of communication. Please refrain from including personal information such as account numbers, Tax ID/Social Security numbers, passwords, etc. We encourage you to maintain contact with us through our Secure Email service, located within Personal Online Banking. Help us keep YOUR personal information PRIVATE!