Business Accounts

Checking Accounts

SMALL BUSINESS CHECKING – Bay Springs, Taylorsville, Heidelberg

  • Minimum balance ..............................................................$0.00
  • Monthly maintenance fee:
    • Below $2,000.00 ..................................................$5.00
  • Monthly transaction fees:
    • 250 total transactions ............................................ free
    • After 250, per check ............................................$0.20
    • After 250, per deposit item..................................$0.10

SMALL BUSINESS CHECKING – Laurel, Petal, Hattiesburg

  • Minimum to open account..............................................$100.00
  • Monthly maintenance fee ..................................................$0.00
  • Monthly transaction fees:
    • 200 total transactions............................................ free
    • After 200, debit or credit ....................................$0.25

COMMERCIAL CHECKING – All Locations

For larger businesses with many transactions

  • Maintenance fee per statement ........................................$10.00
  • Transaction fees:
    • Per deposit item .................................................. $0.14
    • Per withdrawal ....................................................$0.07
  • Earnings Credit:
    The investable balance, defined as the average collected balance less 3% Federal Reserve requirement, will earn a credit based upon Money Market Rates. Rates are subject to change on a daily basis.

Money Market Accounts

Market rate paid on entire collected balance.

  • Minimum amount to open account........$2,500.00
  • Monthly maintenance fee: 
    • $2,500.00 or more ....................................$0.00
    • Below $2,500.00 .......................................$25.00
  • Interest earned on Business Money Market accounts according to the following tiers:
    • $2,500.00 - $9,999.00
    • $10,000.00 - $49,999.00
    • $50,000.00 and above
  • Money Market Business accounts earn interest at a competitive rate determined solely by Magnolia State Bank and is subject to change at the Bank’s discretion.
  • Withdrawals in excess of 6 per month ..........................$1.00
  • Unlimited transactions in person. Federal regulations limit transactions on the account to no more than 6 preauthorized, automatic or telephone transfers per calendar month, 3 of which may be by check or debit to third parties.