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Account Information Personal Banking Accounts

Free Checking Account
For just a $100 initial deposit you will receive the benefit of our free checking account. This account requires no minimum balance and allows unlimited check writing. There are no monthly service fees with this account. Open your Free Checking Account today!

Regular Checking Account
The minimum balance to avoid a service charge is $500.00. If the balance goes below $500 one day during the statement cycle a per item fee of .10 will be imposed as well as a $5.00 service fee. These items or debits include: ATM withdrawals, checks, phone transfers, and counter checks. Service fee waived with Direct Deposit.

Budget Checking
This account is designed for the customer who does not write a lot of checks. There is no monthly fee if the customer writes 20 or less checks in their statement cycle. If more than 20 are written, there will be a .50 fee imposed for each debit after the 20th. Minimum amount to open is $25.00.
 

NOW Checking Account
The NOW Account offers our customers an interest bearing checking account with a minimum daily balance of $1,500. If the balance goes below $1,500 any day during the cycle there will be a $5.00 monthly maintenance charge as well as a .10 charge per item (the same as regular checking). This account is for personal use only.

In Club Package
The In Club Package offers our customers some added benefits to their checking account. There is no minimum balance required and no per item charge. The fees for each type of In Club account are as follows:

• $7.00 Basic $10,000 insurance
• $9.00 Family $20,000 insurance plus
  

  Features:

  • 2 free orders of checks per year
  • Reduced price on cashier checks and money orders
  • Safe deposit box rental free for one year
  • Accidental death and dismemberment insurance
  • Key ring registration
  • Notary service free of charge
  • Photo copies

  Travel Services

  • Travel magazine
  • Nationwide Discount Book
  • Emergency Cash Advance Service

  Shopper's Advantage

  • Shop at home, toll-free, and save up to 50% on more than 250,000
    name brand items. All manufacturer's warranties remain in effect

Golden Club Account
Joining is easy. Anyone who has an account with us and is 50 years and older can enroll. The Golden Club Account guidelines are: a $5.00 service fee will be imposed unless a balance of at least $500.00 is maintained in any deposit account for every day of the term.

Features:

• No-charge checking (if $500 is maintained in any account)
• Reduced fee on cashier's checks and money orders
• Notary service
• Medallion Guarantee
• Photocopies
• 1 box of free Bank checks per year
• Reduced License Sticker renewal fee
• $5.00 discount on Stop Pays and Safe Deposit box rental
• No fee Phone Transfers

Travel and Social Services designed to meet the needs of people over 50:

• Planned senior customer activities
• Travel program

Golden Now Account
The Golden Now Account is a blend of a Golden Club Account and a NOW Account. Enjoy the features of the Golden Club while earning interest like a NOW Account!  This is designed for our 50 and over customers who want the Golden Club Account but carry a high balance. The minimum balance for this account is $1,500. If the balance goes below that, a $5.00 fee will be imposed as well as .10 fee for each debit.

Regular Savings Account
This is a basic, interest earning, savings account. The minimum balance for this account is $50.00. Interest is credited to the account semi-annually on 05/01 and 11/01. If the balance falls below $50.00 any day during the 6 month cycle, a $1.00 service charge will be imposed. A statement is produced quarterly. If the customer has a checking account, the statement will print monthly along with the checking. 

Minor Savings
A minor account is an interest bearing account and requires a $10.00 minimum balance to avoid a service charge. A child is considered a minor until the day of their 19th birthday. (18 and under)

Limitations: Transfers from the account to another account or to third parties by pre-authorized, automatic, or telephone transfer are limited to six per month with no transfers by check, draft, or debit card. Excess withdrawals will be charged .50 per item.

Features:

• Interest accrues daily, is posted semi-annually
• Automatic transfers of specified amounts at regular intervals from checking to savings accounts are available

Christmas Club Savings Account
A Christmas Club Savings account can be opened with as little as $10.00. The customer has the option of receiving a coupon book or having their payment directly debited from a deposit account here at the bank. The account will accrue interest until November, when a check will be issued to allow for holiday shopping.

Features:

• Interest accrues daily and is paid from the day of deposit to
  the day of withdrawal
• Automatic transfers of specified amounts at regular intervals from
  checking to Christmas Club account
• Coupon book available for weekly deposits
• Not allowed to withdraw funds until check is issued in November

Money Market Account
The Money Market account best serves those who maintain a high balance in their savings. The minimum balance required for this account is $2,500.00. If the balance goes below this one day during the statement cycle the account will be assessed a $5.00 charge. The account generally carries a higher interest rate than the regular savings account.

Limitations: Transfers from the account to another account or to third parties by pre-authorized, automatic, or telephone transfer are limited to six per statement cycle with no more than three by check. Excess withdrawals will be charged .50 per item. The minimum amount you can withdraw is $500.

Features:

• No fee for phone transfers
• Interest is paid monthly
• Statements are prepared monthly

Money Market Plus
This savings account requires a minimum balance of $10,000 and pays a higher interest rate than the Regular Money Market. The interest rate and annual percentage yield on this account is determined by the bank and is subject to change weekly. The account's interest rate will never go below the rate being paid on the Regular Money Market Account.

If the account falls below the minimum balance requirement the interest rate and APY will be the same as our regular money market account rate on that day.

A service charge of $5.00 will be imposed every statement cycle if the balance in the account falls below $10,000 any day of the statement.

The minimum amount you can withdraw is $500.00

This account is designed for our customers who don't want to lock up their funds in a CD but want to earn a competitive rate.

Features:

• Interest is credited to the account monthly

Certificates of Deposit
These time deposit savings instruments have competitive interest rates and a variety of maturity and convenience options. The minimum deposit for most CDs is $1,000. The customer enters into an agreement with the bank to leave the funds for a specific period ranging from 30 days to 5 years. The rates are set for the duration of the CD. If a customer withdraws funds prior to the maturity date they will be penalized. This penalty will vary according to the length of the CD.

Features:

• Certificate may be used as collateral for a loan
• Wide variety of interest payment options
• FDIC insures depositor to $100,000
• Fixed-term or automatically renewable

IRA - Individual Retirement Account
An Individual Retirement Account is a personal tax-sheltered retirement savings program. Individuals with earned income can make tax deductible contributions to an IRA, and get tax savings now and retirement income later. Williamsville State Bank and Trust currently offers these accounts in the form of a CD. The terms, conditions, and rates are the same as the regular CDs except the 6 month IRA CD can be opened for less than $1,000. Questions should be referred to a new accounts representative.

Customers should always consult their tax advisor before making a contribution.
Not all of the contribution may be tax deductible.

Features:

• Contributions are accepted up to the lesser of 100 percent of
  earned income or $3,000 for 2004, $4,000 for 2005 - 2007
• IRA accounts are separately insured by the FDIC for $100,000
• Contributions can be made until April 15 of each year for the
  previous year
• A variety of CD terms are available

Roth IRA
This is a non-tax deductible account that features tax-free withdrawals for certain distribution reasons after a five-year holding period.

There are two requirements for eligibility to contribute to a Roth IRA: you or your spouse must have earned income and your modified adjusted gross income cannot exceed certain limits. Contributions can be up to 100% of your earned income or $2000; whichever is less, as long as your modified adjusted gross income is within prescribed limits.

Features:
If you take a nonqualified distribution the contributions are returned first and not subject to a tax penalty or taxation, if the distribution is qualified you pay no tax on the earnings, and you never have to take a withdrawal as in a Traditional IRA.

Please call one of our IRA specialists today!

Commercial Banking Accounts

Commercial Sweep Accounts
The Commercial Sweep Account is designed for a business that wants the potential to earn interest on their money. After a target balance is determined based on the needs of your business any funds above that established balance are swept into an overnight fund automatically. These overnight funds have potential of earning a higher interest rate than a typical interest bearing account.

          Features:

• Weekly Statements (upon request)
• No Monthly or annual fee

Regular Commercial Checking
The Regular Commercial Checking Account requires a $1,000 minimum balance to avoid a monthly maintenance fee. If the account goes below $1,000 the fee will be $7.00 plus .10 for each debit or check written, and .20 for each deposit or credit to the account. This type of account is usually assigned to those businesses who have less than 100 items per statement cycle.

Features:

• Itemized monthly statement
• A wide selection of business checks available
• Low monthly balance requirement

 

Commercial NOW Account
For sole proprietors, governmental units and not-for-profit organizations. If a daily balance of $1,500 or more is maintained during the month, there is no monthly Maintenance Fee; however, this account will be charged for any special services. A NOW Account has unlimited check writing privileges. If this account falls below the minimum of $1,500 a service fee of $5.00 plus .10 per check will apply. The interest rate is subject to change weekly at the bank's discretion.

Features:

• Interest is compounded monthly at your statement cycle

Commercial Account Analysis
The Commercial Account Analysis plan allows the commercial customer to offset maintenance and activity fees by maintaining balances on deposit. The balance would earn an allowance that is based on the average Fed Fund Rate for the previous month and is calculated on the account's average investable balance for the month. High balance accounts with available funds will have a high enough earnings allowance to offset their service charges. This account is for accounts with a large amount of checks written or deposited (100 or more each month).

The account is subject to the same charges as the Regular commercial account with the additional charges of .05 for any item deposited within our Federal Reserve District and .08 for items deposited outside our district.

Features:

• Monthly or Bi-monthly statements
• Weekly statements are available for an extra fee

Business Savings
This is an interest bearing account with a minimum amount to open of $500 to avoid a service fee. If the account falls below this amount, a fee of $2.00 will be charged each statement cycle. Transfers (pre-authorized, automatic or telephone) are limited to six per month. If this amount is exceeded, a $1.00 charge per withdrawal will be charged. Interest is paid semi-annually and is subject to change.

Features:

• Interest is compounded daily, posted semi-annually
• Quarterly statements. When you have a checking account, a monthly statement is available
• Automatic transfers of specified amounts at regular intervals from checking to savings accounts are available

Commercial Money Market
This is an interest bearing account with a minimum balance requirement of $2,500. If the account falls below the minimum anytime during the month, a service fee of $5.00 will be imposed. This account has a limit of six withdrawals per statement cycle, and three of these may be by check. If the customer exceeds the withdrawal limit, the fee would be .50 per item. Unlimited deposits can be made. Interest is paid monthly on your statement day.

Merchant Services for VISA and Mastercard
We offer credit card processing for Visa and Mastercard. This service is competitively priced based on card volume and requires a Commercial checking account.

This service offers a toll free help desk phone number 24 hours a day 365 days a year!
Contact a new accounts representative for more information.