Personal
- Checking Accounts
- Savings Accounts
- Certificates of Deposit (CD)
- Individual Retirement Accounts (IRA)
- Wire Services
- Switch Kit Procedures & Forms
CHECKING ACCOUNTS AT THE PEOPLES BANK
All checking accounts provide you with a monthly statement of account activity. This includes check images. Your recent account activity is also available via our Internet Banking site. You may order checks from an extensive collection of formats and styles to fit your personal tastes.
*Please request our "Your Deposit Account" brochure for additional terms & conditions.
Peoples Checking account with a low $3.00 monthly fee. This fee is waived if you maintain a balance of at least $200 daily throughout the month. Only $25 is needed to open the account. ATM/Debit Cards available.
*Please request our "Your Deposit Account" brochure for additional terms & conditions.
No monthly fee so long as less than 25 checks are processed per month. Only $ 6.00 if more than 25 checks are processed in a statement cycle. ATM/ Debit Cards are available. Only $25 and at least one monthly direct deposit is needed to open this account. We will also provide you with access to monthly statements that will include images of all checks that have cleared.
*Please request our "Your Deposit Account" brochure for additional terms & conditions.
$1500 required to open this account. No monthly fee so long as $1500 balance is maintained. This account earns interest at current rates. $5 monthly fee applies if balance falls below $1500. ATM/ Debit cards available. Monthly statements with check images provided.
*Please request our "Your Deposit Account" brochure for additional terms & conditions.
$2500 required to open this account. A $3 monthly fee applies no matter the balance. Account earns interest on account balance at current rates. ATM/ Debit Cards are available. Monthly statements with check images provided.
*Please request our "Your Deposit Account" brochure for additional terms & conditions.
$2500 required to open this account. No monthly fee, so long as the minimum balance is maintained, $5 if not. Account earns interest at current rates. ATM or Debit Cards are not available. Transfers from this account to another account or a third party by preauthorized, automatic, or telephone transfer are limited to six per statement cycle with no transfers by check, draft, debit card, or similar order to third parties. $5 fee for items in excess of the three per month.
*Please request our "Your Deposit Account" brochure for additional terms & conditions.
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SAVINGS ACCOUNTS AT THE PEOPLES BANK
The Peoples Bank, your local community bank for Knox County, offers a statement savings account. Another alternative for customers, who maintain sizeable balances and require liquidity, are our SuperNow accounts which has the features of both traditional checking and a savings account.
*Please request our "Your Deposit Account" brochure for additional terms & conditions.
$25 is the minimal required deposit to open this account. As long as this minimal balance is maintained, interest will be credited according to the current savings rate. ATM cards are available. Statements are provided either quarterly or monthly depending upon the amount of account activity. A daily minimum balance of $100 will waive the monthly service charge. Withdrawals of six or fewer qualified items per month are included without charge, but each additional withdrawal will incur a $1.00 fee.
*Please request our "Your Deposit Account" brochure for additional terms & conditions.
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CERTIFICATES OF DEPOSIT AT THE PEOPLES BANK
The Peoples Bank has Certificates of Deposit with various terms available. Although rates are not tied directly to the Prime Rate, we offer competitive returns that may fluctuate dependent upon the actions of the Federal Reserve board. However, at the time of deposit the current rate of return is locked in for the term of the Certificate.
Current certificate lengths include:
- 3 months
- 6 months
- 12 months
- 18 months
- 24 months
- 30 months
- 48 months
- 60 months
You may also arrange to have interest credited to another Peoples Bank account, credited to your Certificate, or mailed to you. Early withdrawal penalties apply if you must withdraw the funds prior to the scheduled maturity date.
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INDIVIDUAL RETIREMENT ACCOUNTS AT THE PEOPLES BANK
It is never too early to begin saving for retirement. Compounding of interest over time is the key to achieving your goals in the future. Our IRA accounts are ROCK SOLID, with a stated rate of interest so that you know exactly the rate of return when you sign the certificate. Investment decisions based past performance of a mutual fund or other investment can have disappointing results. We offer both Traditional and Roth IRA accounts.
Traditional IRA accounts allow you to take an annual deduction from earned income, during your earning years. This decreases your taxable income during those years. The amount that is deductible may vary according to your age, so you should always consult your tax advisor. Once you have reached retirement age, withdrawals from your IRA are taxable income. However, the lower income levels that usually accompany retirement do not result in as high of a tax bracket as we have experienced during our prime earning years.
Roth IRA accounts differ from traditional IRAs in that you cannot deduct contributions from your income as a deductions. Upon retirement your withdrawals are considered tax-free income, because taxes were paid before the funds were placed into the Roth IRA.
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WIRE SERVICES AT THE PEOPLES BANK
Both domestic and international wire services are available at our offices. A destination account number and bank routing number is normally needed to facilitate the monetary transfer. If you believe that you have a wire coming in, you can review your accounts at www.peoplesgambier.com to verify whether wired funds have been deposited.
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- Open your new People's Bank Account
Visit one of our local offices and open a new account. - Stop using your old account
- Switch your direct deposits
Complete the Change Direct Deposit form and send it to your direct deposit vendors.
*For Social Security direct deposit changes, call the Social Security Administration at
1-800-772-1213 - Switch your automatic payments
Complete the Change Automatic Withdrawls form and send it to the vendors who automatically take payments from your checking account (utility companies, insurance companies, internet service providers, banks, mortgage companies, etc.) to notifiy them that you are switching the account. - Close your old account
Complete the Close Account form and send it to the financial institution where you are closing the account. - Check all items from our list as you complete them
Use our New Account Conversion Checklist to ensure all proper procedures have been completed.
