Checking Accounts

Farmers and Merchants State Bank offers a wide variety of checking accounts for both consumer and business needs. They range from Free Checking to Super Now accounts. All checking accounts require $50 to open an account. We also offer ATM or VISA Check Cards for your added convenience.

Free Checking

With your Free Checking account you will receive:

  • Free checking will include no minimum balance, no maintenance fees or no activity fees
  • Unlimited monthly transactions
  • Free Notary Service
  • Free Credit Bureau Check
  • Statement mailed to you each month

With your Free Checking account you will:

  • Not receive your canceled checks with your statement
  • No earned interest on your account
  • Be required to order check supplies from F&M State Bank. No direct mail checks will be honored.
  • A fee of $1.00 each month will be assessed once your account reaches a Dormant Status. A Dormant Status is defined as having no customer activity for 18 months.

Checking

The checking account is a non-interest bearing account with no minimum balance required.

  • A maintenance fee of $6.00 will be charged each month.
  • A fee of $.15 will be charged for each check or Automatic Clearing House Item that clears the account.
  • The fee can be offset by the earned credit. The earned credit rate on your account is $.25 per $100 low daily balance. At our discretion, we may change the earned credit rate on your account at any time.

Now Checking

The NOW Checking account is an interest bearing account. It is an excellent choice for those who wish to maintain a lower minimum balance while still getting interest.

  • This account offers a competitive interest rate. Please call one of our locations for the current rate we are offering. At our discretion, we may change the interest rate on your account at any time.
  • Interest will be compounded and credited to your account every month.
  • Canceled checks are returned to customer.
  • A minimum balance fee of $7.00 will be imposed every month if the balance in the account falls below $500.00 any day of the month.
  • Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
  • If you close your account before interest is credited, you will not receive the accrued interest.

Super Now Checking

The SUPER NOW Checking is an interest bearing account paying more interest than the NOW Checking account but requiring a higher balance.

  • This checking account offers a competitive interest rate. Please call one of our locations for the current rate we are offering. At our discretion, we may change the interest rate on your account at any time.
  • Interest will be compounded and credited to your account every month.
  • A minimum balance fee of $7.00 will be imposed every month if the balance in the account falls below $1,500.00 any day of the month.
  • Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
  • If you close your account before interest is credited, you will not receive the accrued interest.