The Palm Beach Post from West Palm Beach, Florida on March 30, 1998 · Page 64
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March 30, 1998

A Publisher Extra Newspaper

The Palm Beach Post from West Palm Beach, Florida · Page 64

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Location:
West Palm Beach, Florida
Issue Date:
Monday, March 30, 1998
Page:
Page 64
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Page 64 article text (OCR)

12 THE PALM BEACH POST MARCH 30, 1998 SAVIFISTES Local bank averages Bank savings account yields As of Mar. 27 Yields are based on method of compounding and rate stated for the lowest minimum deposit. Higher yields may be offered for larger deposits. CD figures are fixed rates only. 1-Year CD 6-Month CD MMA 123 130 26 213 220 227 36 313 4.88 J 4.51 .2.10 320 327 You know we pay high rates, but did you know we donate 25 of our profits to the American Cancer Society? BANK From 10 'Free' checking? Next time you get an offer for a "free" checking account, read the fine print. There are a few loopholes that could result in charges. The Truth in Savings law that went into effect nearly two years ago was supposed to do away with all the advertising tricks that banks were using with the word "free." However, fees on automated teller machine (ATM) and debit cards are allowed on what are supposedly free accounts. Let's say a bank give you an ATM card with your checking account. In your agreement with the bank, there are fees for using a competitor's ATM, which are fairly common. But there could also be a charge for using the bank's ATM if you do not maintain a minimum balance. For example, if your checking account balance dips below $500, you could be charged 50 cents for each withdrawal or balance inquiry at the bank's ATM. The Federal Reserve says the account would still qualify as "free." The same would be true of a debit card, which looks like a credit card but works like a check. With a debit card, the amount "charged" is deducted from your bank account In fact, some debit cards look like Visa and MasterCard credit cards. A bank could charge a fee each time you use your debit card and still advertise the account as free. Because the transaction is electronic and not a paper check, the bank can charge for it The electronic service is not considered an inherent part of the account Bounced-Check Charges Can Bite The cost of bouncing a check is going up, to more than $20. The national average is $19.92, according to the Bank Rate Monitor, but in South Florida, it's more like $26. You may not know it but you can bounce a check even if it appears there are funds on deposit to cover it Banks pay based on deposits that have cleared, such as cash. If you deposit a check, it could take up to five days for the item to clear. During that time, your balance will reflect the check deposit but you won't be able to access the funds. If you write a check for the full balance, it could bounce. The average charge fr that nationwide is $13.05 and $19 in South Florida. If you are lucky, you will be a customer of one of the many banks that does not have such a fee. Your bank can charge you for depositing somebody clue's bad check. The average fee across the country is $5.24 and a slightly higher $6.40 here. As the victim of a bad check.. yw must pay your ' bank and then jjh after the check writer. Int. 6-mo 1-jr 2.5-yr 5-jrf Banks Phone MMAs chkg CD CD CD CD Admiralty Bank 5616272700 2.18 1.24 4.57 4.91 5.08 5.38 (MhnundepastJ 1000 100 500 500 500 500 Bank of Belle Glade 561-9966711 2.25 1.15 4.75 5.00 5.25 5.50 (Mnmcmdepoarj 2500 50 1000 1000 1000 1000 Barnett Bank of 561-833-3000 NA .75 3.45 3.70 4.20 4.50 Palm Beach County (MmundepoeH NA 100 1000 1000 1000 1000 Barnett Bank 561-340-5200 N.A. .75 3.45 3.70 4.20 4.50 Treasure Coast (Mimumdepost) N.A. 1500 1000 1000 1000 1000 Boca Raton First 561-394-9004 1.26 1.11 3.87 4.32 4.57 4.83 National Bank (Mhrrundepcstl 5000 500 2500 2500 2500 2500 Colonial Bank 561-683-1600 2.75 1.27 4.65 5.01 5.35 5.50 IMhmmdepcst) 2500 1000 500 500 500 500 Enterprise Nat l 561-6244400 5.25 1.30 5.70 5.75 5.75 5.80 BkOfPBC (HntnposO 5000 2500 1000 1000 1000 1000 EuroBank 561-750-9999 2.53 2.02 5.06 5.39 N.A. N.A. IMrmmdecosI) 1000 50 1000 1000 N.A. N.A. First Bk Of 561597-2181 1.53 1.51 3.53 5.30 5.29 5.22 Indiantown (hkmumdepst) 2500 200 1000 1000 1000 1000 First Community 561924-5272 2.28 1.11 4.60 4.81 5.55 6.00 Bank (Mhmundepost) 2500 2000 1000 1000 1000 1000 First National 5612874000 2.00 .65 3.50 4.00 4.25 4.50 Treasure Coast (Mnrrundepcstl 2500 1500 1000 1000 1000 1000 First Southern Bank 561472100 2.27 1.00 5.38 5.64 N.A. 5.64 (Mrwrwndepostl 2500 2500 2500 2500 N.A. 2500 First Union National 561-8385681 1.00 .71 3.45 3.70 4.20 4.50 Bank IMrmjnOsfai) 2500 100 1000 1000 1000 1000 First UnionMartin- 800-73&1012 1.00 .71 3.45 3.70 4.20 4.50 St. Lucie (Mhmndepa 2500 100 1000 1000 1000 1000 First United Bank 5613924000 2.03 1.02 4.52 4.88 NA NA (Htmmdepat) 2500 1000 500 500 NA NA First United Bank, 5612869703 2.03 1.02 4.52 4.88 NA NA Martin (Mnrnrndepyst) 2500 1000 500 500 N.A. NA Hamilton Bank 561683787 2.38 238 5.56 6.05 NA NA IMrwrundepaet) 1500 1500 10000 10000 NA NA Mellon United 56168&9400 2.02 1.51 4.58 4.84 4.89 4.89 National Bank fMhmundapo 2500 100 2500 2500 2500 2500 NBO Bank 5616244728 2.00 135 4 80 5.40 5.60 5.80 Mwrundmst) 100 100 1000 1000 1000 1000 NationsBank 5613935100 101 .75 3.45 3.70 4.20 4.50 (MhrrunaosO 2500 100 1000 1000 1000 1000 Northern Trust Bank 561-655-9770 2.00 1.00 4.70 5.00 5.55 5.70 50 25 10000 10000 10000 10000 Palm Beach National 561-627 1776 2.04 .80 4.50 5.00 5.25 5.75 B&TCo Mrmrmtxnt) 6000 750 1000 1000 1000 1000 PomteBank 5613686300 2.75 1.45 5.10 5.35 5.60 5.85 AfrrnundWo 1000 500 1000 1000 1000 1000 Republic Security Bk 561-840-1200 2.25 1 00 4.75 5.20 N A 5 80 (VfrwiMTxWa 1000 ' 50 500 500 N.A. 500 Rivers.de Natl Bk 5614661200 1.78 1.07 4 81 4.99 5.24 5.41 ofFlonda TifnJBpa 2500 300 1000 1000 1000 1000 SecuntyBank 5615889570 2.50 2.50 5.35 5.55 NA 5 60 frn(pa 1500 1000 1000 1000 N.A. 1000 Southtrust Bank 5617363975 1 77 1.25 4 75 5.13 5.39 5 65 HtvwndepoBQ 2500 500 500 500 500 500 SunTrust Bank. 5618324121 2.00 1.00 4 65 4 90 5.00 5.25 South Florida (wnjmm 2500 100 2500 2500 2500 2500 SjntrustBk Treasure 5614676463 2.00 1 00 4 80 5.10 5.25 5 40 Coas, AnrvjC 2500 1500 2500 2500 2500 2500 Transfl0"d3 Bn 561 347O007 2 05 2.20 5 05 5 31 N.A. 5 91 Wr-,-., 2500 100 1000 1000 NA 1000 Umon Planters Bank 5614782805 2 00 .75 4 55 5 00 5.25 5.50 -wr 2500 100 2500 2500 2500 2500 PS-MARTIN UM AVG. 2-10 1.20 4 51 4.M 5.00 S.31 BftMIUtwulMei 2-55 1.21 4 71 4 7 $.11 S.2 S A -Sot 4 4T. 0'"i , A y3S ryr V 75 fry IO0 ."V JO tS V 5 For more information on our high-yielding investment opportunities, please call (561 ) 624-4400 Enterprise National Bank Of Palm beach A ban for your money. A ban for your life.

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