A checking account
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Open Checking Account in Winona, Mississippi

Student Checking

  • Available to full-time students
  • Minimum balance to open the account (You must deposit $100.00 to open this account )
  • No maintenance fee

Regular Checking

  • Minimum balance to open the account (You must deposit $300.00 to open this account )
  • Minimum balance to avoid imposition of fees
    • If your balance falls below $200.00 on any day in the monthly statement cycle, we will impose a maintenance fee of $8.00 once during the statement cycle.
    • If your balance is at least $200.00 on every day in the monthly statement cycle but falls below $400.00 on any day during the monthly statement cycle, we will impose a maintenance fee of $7.00 once during the statement cycle.
    • If your balance is at least $400.00 on every day in the monthly statement cycle but falls below $600.00 on any day during the monthly statement cycle, we will impose a maintenance fee of $6.00 once during the statement cycle.

Now Account

  • Minimum balance to open the account (You must deposit $1,500.00 to open this account )
  • Rate Information- Your interest rate and annual percentage yield may change. We may change the interest rate on your account at any time.
  • Determination of rate- At our discretion, we may change the interest rate on your account.
  • Compounding and crediting frequency- Interest will be compounded every month. Interest will be credited to your account every month.
  • Effect of closing an account- If you close your account before interest is credited, you will not receive the accrued interest.
  • Minimum balance to avoid imposition of fees- A minimum balance fee of $10.00 will be imposed every statement cycle if the balance of the account falls below $1,500.00 any day of the cycle.
  • Minimum balance to obtain the annual percentage yield disclosed- You must maintain a minimum daily balance of $1,500.00 to obtain the disclosed annual percentage yield.
  •  Average daily balance computation method- We use the average daily balance method to calculate the interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. The period we use is a monthly statement cycle.

Super Now Account

  • Minimum balance to open the account (You must deposit $2,500.00 to open this account )
  • Rate Information- Your interest rate and annual percentage yield may change. We may change the interest rate on your account at any time.
  • Determination of rate- At our discretion, we may change the interest rate on your account.
  • Compounding and crediting frequency- Interest will be compounded every week. Interest will be credited to your account every month.
  • Effect of closing an account- If you close your account before interest is credited, you will not receive the accrued interest.
  • Minimum balance to avoid imposition of fees- A minimum balance fee of $10.00 will be imposed every statement cycle if the balance of the account falls below $2,500.00 any day of the cycle.
  • Minimum balance to obtain the annual percentage yield disclosed- You must maintain a minimum daily balance of $2,500.00 to obtain the disclosed annual percentage yield.
  • Average daily balance computation method- We use the average daily balance method to calculate the interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. The period we use is a monthly statement cycle.

Money Market Deposit Account

  • Minimum balance to open the account (You must deposit $2,500.00 to open this account )
  • Rate Information- Your interest rate and annual percentage yield may change. We may change the interest rate on your account at any time.
  • Determination of rate- At our discretion, we may change the interest rate on your account
  • Compounding and crediting frequency- Interest will be compounded every month. Interest will be credited to your account every week.
  • Effect of closing an account- If you close your account before interest is credited, you will not receive the accrued interest.
  • Minimum balance to avoid imposition of fees- A minimum balance fee of $10.00 will be imposed every statement cycle if the balance of the account falls below $2,500.00 any day of the cycle.
  • Minimum balance to obtain the annual percentage yield disclosed- You must maintain a minimum daily balance of $2,500.00 to obtain the disclosed annual percentage yield.
  • Average daily balance computation method- We use the average daily balance method to calculate the interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. The period we use is a monthly statement cycle

Business Checking

  • Minimum balance to open the account (You must deposit $300.00 to open this account )
  • Minimum balance to avoid Minimum Balance Fee -A minimum balance fee of $10.00 will be imposed every monthly statement cycle unless you maintain a minimum daily balance of $2,500.00.
  • Deposit limitations -You may make an unlimited number of deposits into your account.

FAQs

  • Minimum balance to open the account (You must deposit $300.00 to open this account )
  • Minimum balance to avoid Minimum Balance Fee -A minimum balance fee of $10.00 will be imposed every monthly statement cycle unless you maintain a minimum daily balance of $2,500.00.
  • Deposit limitations -You may make an unlimited number of deposits into your account.

How much money do I need to open a checking account?

It depends on the account. Minimum opening deposits range from $100 for Student Checking to $2,500 for a Super NOW Account.

Is there a checking account with no monthly maintenance fee?

Student Checking has no maintenance fee and is available to full-time students. Other checking accounts may have maintenance fees depending on the balance maintained during the statement cycle.

How can I avoid a monthly fee on my checking account?

Minimum balance requirements vary by account. For example, Regular Checking fees are based on the balance maintained during the statement cycle, while NOW, Super NOW and Business Checking accounts have their own minimum balance requirements.

Do you offer checking accounts that earn interest?

Yes. NOW and Super NOW Accounts are interest-bearing accounts. Rates and annual percentage yields are variable and may change.

What is an interest-bearing checking account?

An interest-bearing checking account allows you to earn interest on the money in your account while maintaining the features of a checking account. Bank of Winona offers NOW and Super NOW Accounts that earn interest when applicable balance requirements are met.

What is the difference between a NOW Account and a Super NOW Account?

Both are interest-bearing accounts, but they have different opening deposit and minimum balance requirements. A NOW Account requires $1,500 to open, while a Super NOW Account requires $2,500.

What does it mean when interest is compounded?

Compounding means the interest you earn is added to your account balance and can then earn interest too. How often interest compounds depends on the account.

What does it mean when interest is credited to my account?

When interest is credited, the interest you’ve earned is added to your account balance.
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