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Saving at American Bank & Trust

When it comes to saving, American Bank & Trust is full of bright ideas

You've got a plan for the future, and we've got a plan for you. No matter what you're
saving for, we have the perfect savings plan to match your needs.

Savings

 

Current Commercial Deposit Rates

Please select the most convenient location for you:

 

Quad Cities, Iowa and Illinois

Chicago Land, Illinois

 

Current CDARS® Rates

 

Please select the most convenient location for you:

 

Quad Cities, Iowa and Illinois

Chicago Land, Illinois

 

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Regular Savings

  • Low Minimum Balance Savings Account.
  • Just $100.00 to open and $100.00 Average Monthly Balance required to Avoid Fees.
  • Interest is compounded and paid Quarterly.
  • 12 Withdrawals allowed per Quarter without penalty.
  • ATM or Visa Check Card is available.
  • Free AmBank by Phone, AmBank Online Internet Banking and Online Account Statement.
  • Complimentary Mortgage or Investment Review Available.

 

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American Dream Savings

  • Ideal for your Christmas Club, Vacation Account or Emergency Fund needs.
  • Just $10.00 to open and $100.00 Average Monthly Balance required to Avoid Fees.
  • Interest is compounded and paid Quarterly.
  • 1 Withdrawal allowed per Quarter without penalty.
  • ATM or Visa Check Card is available.
  • Free AmBank by Phone, AmBank Online Internet Banking and Online Account Statement.
  • Complimentary Mortgage or Investment Review Available.

 

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Ultimate Savings

  • Just $5,000.00 to open and $1,000.00 Average Monthly Balance required to Avoid Fees.
  • Interest is compounded and paid Quarterly.
  • 12 Withdrawals allowed per Quarter without penalty.
  • ATM or Visa Check Card is available.
  • Free AmBank by Phone, AmBank Online Internet Banking and Online Account Statement.
  • Complimentary Mortgage or Investment Review Available.

 

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Health Savings Account - HSA

  • No Minimum Balance Required to open and No Average Monthly Balance required to Avoid Fees.
  • Unlimited Withdrawals and Point-of-Sale Transactions are allowed without penalty.
  • First order of Checks is Free.
  • Check Images are not returned with Monthly Statement.
  • Interest is compounded and paid Monthly on Account Balance.
  • ATM or custom Visa HSA Check Card is available.
  • Free AmBank by Phone, AmBank Online Internet Banking and Online Account Statements.
  • Complimentary Mortgage or Investment Review Available.

 

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Money Market Account

  • $2,500.00 to open and $2,500.00 Average Monthly Balance required to Avoid Fees.
  • Six (6) transfers allowed per monthly statement cycle without penalty, three (3) of the six transfers may be Checks.
  • Check Images are not returned with Monthly Statement.
  • Interest is compounded and paid Monthly on Account Balance.
  • Premium interest rates (tiered rate structure…the more you deposit, the greater your earnings potential).
  • Variable rate Account.
  • ATM or Visa Check Card is available.
  • Free AmBank by Phone, AmBank Online Internet Banking and Online Account Statements.
  • Free Automatic Bill Payment Service (Direct Deposit required).
  • Easy Access Account (Overdraft Protection) Available.
  • Complimentary Mortgage or Investment Review Available.

 

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Ultimate Money Market Account

  • $100,000.00 to open and $50,000.00 Average Monthly Balance required to Avoid Fees.
  • Six (6) transfers allowed per monthly statement cycle without penalty, three (3) of the six transfers may be Checks.
  • Check Images are not returned with Monthly Statement.
  • Interest is compounded and paid Monthly on Account Balance.
  • Premium interest rates (tiered rate structure…the more you deposit, the greater your earnings potential).
  • Variable rate Account.
  • ATM or Visa Check Card is available.
  • Free AmBank by Phone, AmBank Online Internet Banking and Online Account Statements.
  • Free Automatic Bill Payment Service (Direct Deposit required).
  • Easy Access Account (Overdraft Protection) Available.
  • Complimentary Mortgage or Investment Review Available.

 

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Certificate of Deposit (CD) or Individual Retirement Account (IRA)

CDs and IRAs are safe investments insured against loss, with competitive rates and low maintenance. Interest earned accrues daily and is compounded and paid semiannually for terms longer than six months. You may reinvest interest, transfer the amount to our savings or checking account or choose to receive a check.

Interest rates are competitive and fixed for the term of the CD

You will receive a notice prior to maturity. Certificates automatically renew for the same term at current market rates, unless you choose a new one. You may withdraw funds without penalty up to 10 days after your certificate has been renewed.

 

We offer a variety of IRA products with tax-deferred interest accumulation, including: Traditional, Coverdell ESA (Education), Rollover and Roth IRAs. Consult your tax advisor concerning the tax advantages of having an IRA account.

 

  • $500.00 to open a CD and $250.00 to open an IRA.
  • Choose from a variety of deposit terms ranging from 3 months to 60 months.
  • Earn a competitive Annual Percentage Yield (APY). CORE Relationships earn a bonus APY.
  • Substantial Penalty and Administrative Fee assessed for early withdrawal.
  • Free AmBank by Phone, AmBank Online Internet Banking and Online Account Statements.
  • Complimentary Mortgage or Investment Review Available.

 

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18-Month or 36-Month Ultimate Certificate of Deposit (CD) or Individual Retirement Account (IRA)

  • $500.00 to open a CD and $250.00 to open an IRA.
  • Enjoy the option to exchange your interest rate one (1) time without penalty during the term of the originally scheduled maturity. At the time of the rate exchange, the new rate will be the current interest rate for our 18-Month CD at the time of the exchange. This exchange will be at no cost to you. If you make an exchange, the maturity date of this account will remain the same as originally scheduled. We will allow the exchange at any time during the term of the originally scheduled maturity.
  • Earn a competitive Annual Percentage Yield (APY). CORE Relationships earn a bonus APY.
  • Substantial Penalty and Administrative Fee assessed for early withdrawal.
  • Free AmBank by Phone, AmBank Online Internet Banking and Online Account Statements.
  • Complimentary Mortgage or Investment Review Available.

 

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CDARS® – Certificate of Deposit Account Registry Service

Full FDIC Insurance Coverage on CD Investments up to $50 Million per depositor is now available through the CDARS® Program offered by American Bank and Trust Company. One Bank…One Competitive Interest Rate for your deposit…One Monthly Statement. Click here for more information on the CDARS® Program.

 

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Fees

Money Market Checking, Ultimate Money Market Checking, Regular Savings, Ultimate Savings, American Dream Savings

 

Minimum Balance to Avoid Statement Cycle Maintenance Fees

 

No maintenance fee will be imposed if your average daily balance for the statement cycle period is equal to or greater than the average daily balance requirement for the deposit account product you hold at the bank. Account holders of commercial deposit accounts can easily determine each deposit account’s average balance for the statement cycle by viewing the first page of the account statement. Your deposit product’s average daily balance requirement and the applicable maintenance fee if the requirement is not met, are as follows:

 

 

Account Type

 

Average Balance Requirement

 

Monthly Maintenance Fee
Regular Savings

 

$100.00

 

$10.00
Ultimate Savings

 

$1,000.00

 

$10.00
American Dream Savings

 

$100.00 (after 6 months of opening)

 

$10.00

 

By reviewing and evaluating your average account balance and activity, we’re happy to assist you in selecting the account solution which meets your needs while minimizing monthly maintenance and activity fees. Contact any Relationship Specialist for assistance and details.

 

Transaction Fees

 

Please note the change in your deposit product’s applicable transaction fee as follows:

 

 

Account Type

 

Transaction Activity

 

Fee
Regular Savings

 

Excess transactions > 12 per quarter

 

$10.00
Ultimate Savings

 

Excess transactions > 12 per quarter

 

$10.00
American Dream Savings

 

Excess transactions > 1 per quarter

 

$35.00
Certificate of Deposit

 

Early Withdrawal Administrative Processing Fee

 

$20.00

 

*Transactions consist of checks deposited & all debits and credits to the account, including ACH, ATM, & POS transactions

 

Certificates of Deposit

 

In addition to the assessed early withdrawal penalty fee, early withdrawals on Certificates of Deposit issued or renewed at maturity after August 31, 2008, will also be subject to an administrative processing fee of $20.00 per Certificate of Deposit. In addition to the assessed early withdrawal penalty fee, early withdrawals on non-renewable Certificates of Deposit issued after August 31, 2008, will also be subject to an administrative processing fee of $20.00 per Certificate.

 

Electronic Fund Transfers

 

When you use an American Bank and Trust Company, N.A., Visa® branded card at a merchant that settles in currency other than US dollars, Visa® will charge an International Service Assessment (ISA) fee to complete the transaction regardless if there was a currency conversion involved to convert your transaction to US dollars.

 

  • If there was no currency conversion involved with your transaction (“single-currency transaction”) the ISA fee is 0.8% of the transaction amount. 
  • If there was a currency conversion involved with your transaction (“multi-currency transaction”) the ISA fee is 1% of the transaction amount. 

 

An international transaction is defined by Visa® as a transaction where the issuer’s country (i.e., the card-issuing financial institution’s country) is different than the merchant’s country.

 

Depending upon the merchant you patronize, any transaction could qualify as an international transaction, including Internet based transactions.

 

Fees –

 

  • Transaction Fees. A fee of $1.00 will be charged per cash withdrawal over six (6) per statement cycle when you use your American Bank and Trust Company, N.A., ATM Card or Visa® Check Card at ATMs not owned by American Bank and Trust Company, N.A.
  • Inactive Card Fees. The primary account linked to either an open ATM card or Visa® Check Card issued by American Bank and Trust Company, N.A., will be charged a $15 fee for each twelve month period in which no transactions were conducted by you with the ATM card or Visa® Check Card.

 

Other Fees

 

Transfers from a Money Market account or an Ultimate Money Market account to another account or to third parties by telephone or computer transfer or preauthorized debit are limited to six (6) per statement cycle with no more than three (3) by check, draft, or similar order to third parties. An activity fee of $15.00 will be charged for each transaction in excess of these transaction limitations.

 

An activity fee of $10.00 will be charged for each withdrawal from a Regular Savings account or an Ultimate Savings account in excess of twelve (12) during a quarterly (three-month) statement cycle period. An activity fee of $35.00 will be charged for each withdrawal from an American Dream Savings account in excess of one (1) during a quarterly (three-month) statement cycle period.

 

Other Terms

 

When issuing a handwritten check, you agree to legibly write checks with ink (black or blue) on a sufficiently contrasting tamper-resistant safety paper that is readable when automated check processing equipment scans and converts your original paper check document into an electronic image or substitute image document using the prevalent check processing standards of banks in the United States. Checks issued using ink jet printers, laser printers or other printing equipment must be documents that are resistant to unauthorized post-issue alterations using reasonable commercially available document security features. Such checks must also be readable when automated check processing equipment scans and converts your original paper check document into an electronic image or substitute image document using the prevalent check processing standards of banks in the United States. You, as the maker of the check, are responsible for claims, disputes, or losses arising from an unreadable image caused by an original check document not conforming to these requirements.

 

Identity Theft

 

Customers are encouraged to visit the Federal Trade Commission’s official web site www.ftc.gov/idtheft for information and tips on combating the growing problem of Identity Theft. While viewing the FTC web page, scroll down the right-hand column under the heading of “Key Publications,” and click on the Take Charge: Fighting Back Against Identity Theft for information on effective ways you can help protect yourself against the crime of Identity Theft, as well as pro-active actions you can take if you believe you may be a victim of Identity Theft.

 

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