A Money Market Account (MMA) is a savings account that typically has a higher interest rate than traditional savings accounts but may require larger minimum deposits and balances. A money market account allows a limited number of checks to be drawn from the account monthly.
Services. Automated Clearing House: ACH services are offered by the cash management division of Centennial Bank. The Automated Clearing House is an electronic system used to transfer funds between banks. Companies use this to pay others, especially employees (this is how direct deposit works).
Some market-linked CDs have a call feature. This allows the issuing institution (typically a bank) to redeem the CD before it matures. Your interest is determined by the call price, and it might be less than it would be if the CD were held to maturity. The issuer is not obligated to call a market-linked CD.
Additional checking accounts – Platinum and Gold Checking Package customers can open additional Easy Checking accounts with no monthly maintenance fee. Requires at least one identical account holder on all accounts. Gold Checking Package customers are limited to two Easy Checking accounts with no monthly maintenance fee.
A counter check is a check with blank spaces for the account information. Banks give these out to customers who have not yet received pre-printed checks. They may also give them to customers who have no other means of withdrawing cash from their accounts.
Debit cards can be regarded as a version of checkbooks; they are linked directly to your bank account. Debit cards allow bank customers to spend money that they have by drawing on funds that they deposited with the card provider; and money is debited from your account as the transaction occurs.
Linking your checking account to an interest-bearing savings account is an option if you can't get a checking account that pays interest. It can be done within your existing bank (transfers between checking and savings are more or less instant), or you can link to an external account.
Merchant Services, or better known as credit card processing is the handling of electronic payment transactions for merchants. Merchant processing activities involve obtaining sales information from the merchant, receiving authorization for the transaction, collecting funds from the bank which issued the credit card, and sending payment to the merchant.