1 APY=Annual Percentage Yield. Rates are effective as of Rates Effective 06/25/2024 and are subject to change before or after account opening without notice. Rates vary by tier and apply to the full balance. The following variable interest rates will apply to your account balance: 4.50% APY on balances of $250,000 or greater, 4.00% APY on balances between $100,000 and $249,999.99, 3.50% APY on balances between $50,000 and $99,999.99, 3.00% APY on balances between $25,000 to $49,999.99, 2.50% APY on balances between $5,000 to $24,999.99, and 0.05% APY up to $49,999.99. In order to obtain high tier interest rates, the account must meet the eligibility requirements, that is a Patelco Business checking account (opened under the same member number). If the account fails to meet eligibility at any time, the lower interest rate of 0.05% APY will be defaulted. For more details, read our Business Money Market Account Overview.
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3 Accounts are subject to a $0.25 transaction fee if account exceeds 25 transactions each month. Accounts are subject to an excess cash fee of $0.50 fee per $100 deposited or purchased after $5,000 in cash.
4 Checking Requirements: In order to obtain higher tier interest rates, the account must meet the eligibility requirements, that is a Patelco Business checking account (opened under the same member number). If the account fails to meet eligibility at any time, the lower interest rate of 0.05% APY will be defaulted for that month.
The following is a non-exclusive list of business types that Patelco does not serve: (1) any business subject to any sanctions prohibitions administered by the Office of Foreign Assets Control; (2) medical marijuana dispensaries or any other business involved in the marijuana industry; (3) money services businesses or MSBs (ATM machines, check cashing, vending machines, cash-intensive businesses, etc.); (4) gambling businesses; (5) digital currency businesses; (6) third party payment processors; (7) prostitution businesses, whether legal or not; (8) embassies, consulates, and diplomatic missions; (9) pawn shops or pawnbrokers; (10) anonymous ownership entities; (11) adult entertainment businesses; (12) firearms and ammunition manufacturing businesses; (13) businesses that advocate violence or hate against any group or individual; (14) businesses that are engaged in an activity that is illegal under state or federal law; (15) businesses that present a high degree or risk, and (16) businesses that could be detrimental to Patelco’s reputation or values.
