Personal Banking // Minor Statement Savings

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Minor Statement Savings

This account is designed to help you save for your child and as they get older it gives them the opportunity to learn the importance off saving. The account is in your child’s name and social security number with you as its custodian. It earns the same rate of interest as a regular statement savings account

  • $25 minimum deposit to open the account
  • No minimum monthly balance required to avoid a service charge as long as the account owner is less than 18 years of age.
  • Interest is earned on the daily balance. Interest is accrued daily and compounded at the end of the quarter.
  • ATM access
  • Free Internet Banking access
  • Free quarterly electronic statements or image statements
  • 24/7 Bank by Phone (1-888-389-2265)
  • Free Mobile Banking Services: Mobile check deposit, transfers, text alerts and more…

Requirements

  • American Bank & Trust allows 6 debits/withdrawals per month without a charge. A $3.00 excessive withdrawal fee will be charged for any debit exceeding 6.
  • Regulations allow you to make 6 limited transactions during a month. Limited transactions include checks, internet transfers, phone transfers, preauthorized transfers (ACH), and transfers for overdraft protection. Unlimited transactions are any debit/withdrawal made in person at the bank, any withdrawal or transfer using an ATM, or any automatic debit made as payment to your American Bank & Trust loan. The bank will notify you by letter if you have exceeded the 6 limited transactions.
  • If limited transactions are repeatedly exceeded, it may be necessary to change your account to one that has unlimited debits.
  • A dormant fee of $5.00 may be applied if the account has no activity for 365 days. If the balance in the account is = or > $500.00 no dormant fee will be charged. (The posted compounding of quarterly interest is not considered activity.)

Additional Features

  • Bank My Change Feature
  • Auto deposit options
  • Internet banking deposit capabilities

**Please ask your customer service representative about these additional features and current account rates or visit our contact page.

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