IOTA Checking
An account designed for the unique needs of law firms. It is maintained in compliance with the IOTA program of the Florida Bar, and all interest is paid directly to the Florida Bar.
- $100 minimum deposit to open and earn interest
- No minimum daily balance
- No monthly maintenance fee
We use the daily balance method to calculate the interest on your account. The daily balance method means the application of the periodic rate to the full amount of principal in the account each day. Please see our Depositor’s Agreement Terms and Conditions for additional information.
TEMPORARY LIQUIDITY GUARANTEE PROGRAM
Marquis Bank is participating in the FDIC’s Transaction Account Guarantee program.
Under the program, through December 31, 2010, all noninterest-bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account.
Coverage under the Transaction Account Guarantee program is in addition to and separate from the coverage available under the FDIC’s general deposit insurance rules. This includes IOLTA’s (interest on lawyer’s trust accounts) and NOW Accounts that pay an interest rate lower than .25%.
FDIC INSURANCE
As of July 21, 2010, the standard maximum deposit insurance provided by the FDIC has been permanently increased to $250,000 per depositor, per insured depository institution for each account ownership category. For more information on FDIC insurance, visit www.FDIC.gov.
