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Equifax has reported a data breach that could have compromised the identifying information of as many as 143 million consumers. They have set up a site where you can find information on this incident at www.equifaxsecurity2017.com. For more information on how to protect your identity, visit the identity theft section of our Fraud Education Center at www.theabcbank.com/fraud-education-center.  

 

Personal Savings

A personal savings account is the first step to financial stability. It’s the emergency fund that we all need, the safety net, and the beginning stage of building wealth. American Bank of Commerce knows you need a savings account that supports your savings goals. We offer a variety of savings account options – each one customized for your benefit.

  • ABC SAVINGS

    Account Description & Benefits

    Savings accounts are an easy and safe way to save for the future and may be tied to your checking account to protect you from accidental overdraft charges. Let us help you set up an Automated Funds Transfer to make saving easy.

    Interest Bearing - Minimum Daily Balance required to obtain the annual percentage yield

    Yes

    Service Charges

    Daily Balance during statement cycle determines service charge:

    • $0 – $49.99 = $3.00
    • $50.00 + = $0

    Over 6 withdrawals per quarter = $2 per item

    Eligibility

    Individuals or Business

    Minimum Opening Deposit

    $50

    Transaction Limitation

    6 transfers or withdrawals per month by check, debit card or similar order payable to a third party

    ATM/Debit Card

    Yes – ATM Only - additional fees may apply, a full fee schedule is available at any branch

  • ABC YOUTH SAVINGS

    Account Description & Benefits

    This account is set up for individuals age 0 to 18. Whether saving for college, a new car or the future, teach your child money savings basics.

    Interest Bearing - Minimum Daily Balance required to obtain the annual percentage yield

    Yes

    Service Charges

    • No statement cycle service charge
    • Over 6 withdrawals per quarter = $2 per item

    Eligibility

    Individuals 0 – 18 years old

    Minimum Opening Deposit

    $25

    Transaction Limitation

    6 transfers or withdrawals per month by check, debit card or similar order payable to a third party

    ATM/Debit Card

    Yes – ATM Only - additional fees may apply, a full fee schedule is available at any branch

  • HEALTH SAVINGS (HSA)

    Account Description & Benefits

    Your High Deductible Health Plan (HDHP) is combined with an HSA account for the purpose of paying or reimbursing qualified medical expenses. Contributions to an HSA are tax deductible, the earnings grow tax deferred and distributions to pay for reimbursed qualified medical expenses are tax free.

    Interest Bearing - Minimum Daily Balance required to obtain the annual percentage yield

    Yes

    Service Charges

    Daily balance during statement cycle determines service charge:

    • $0 – $999.99 = $2.00
    • $1,000 + = $0

    Eligibility

    Individuals covered by a high-deductible health plan that meets annual requirements – annual contribution limits apply

    Minimum Opening Deposit

    $.01

    Transaction Limitation

    Unlimited

    ATM/Debit Card

    Yes – Health Savings debit card only - additional fees may apply, a full fee schedule is available at any branch

  • Account Description & Benefits

    An IRA, is a tax-deferred account that permits individuals to set aside money each year for retirement planning, with earnings tax-deferred until withdrawals begin at age 59 1/2 or later. Contributions may be deductible. IRA’s are funded by a Certificate of Deposit. IRA Types offered: Traditional IRA, ROTH IRA, SEP IRA (Simplified Employer Plan), CESA (Coverdell Education Savings Account).

    Interest Bearing - Minimum Daily Balance required to obtain the annual percentage yield

    Yes

    Service Charges

    Penalty for early withdrawal

    Eligibility

    Individuals

    Minimum Opening Deposit

    $1,000

    Transaction Limitation

    Non-transactional account

    ATM/Debit Card

    No

  • CERTIFICATE OF DEPOSIT

    Account Description & Benefits

    Certificate of Deposits are a low-risk investment that allows you to maximize your savings with added benefits of liquidity and safety. CD terms from one month to five years.

    Interest Bearing - Minimum Daily Balance required to obtain the annual percentage yield

    Yes

    Service Charges

    Penalty for early withdrawal

    Eligibility

    Individuals or Business

    Minimum Opening Deposit

    $1,000 for Regular CD’s – all terms

    $100,000 for Jumbo CD’s – all terms

    Transaction Limitation

    Non-transactional account

    ATM/Debit Card

    No