Public Funds Accounts

No matter the size of the public entity, Peoples Bank of Alabama has an account to meet your specific needs. We work with all size entities including local utilities, large school systems, municipalities, and public agencies. Our goal is to provide a level of service and expertise to public entities not easily matched by other financial institutions. We live, work, and worship in the communities you serve, so it is our responsibility as your neighbors to support you. 

Public Funds Checking

  • $100 minimum deposit to open
  • No monthly maintenance fee
  • $.15 cents per item processed over 1,000 items

Public Funds Savings

  • $100 minimum opening deposit
  • $100 minimum balance to avoid $5 monthly service charge
  • $2.00 per withdrawal in excess of 6 per month
  • Interest is compounded quarterly
  • Limited Transactions*

Public Funds Analysis

  • $100 minimum deposit to open
  • $.40 cents each deposit ticket
  • $.10 cents for each item processed within the deposit
  • $.10 cents for each debit, electronic debit or credit
  • Earning credit may offset charges depending on balance

Public Funds Relationship Money Market

High Yield Money Market account for business customers whose existing total relationship is $ 250,000 or more

  • $2,500 minimum deposit to open
  • Interest paid based on the following tiers:
    • $ 0.01 -$ 24,999
    • $ 25,000 - $ 99,999
    • $ 100,000 - $ 249,999
    • $ 250,000 - above
  • $ 2,500 minimum balance to avoid $ 10 monthly service charge
  • Limited Transactions**

*Federal Regulations limit the number of withdrawals made from a savings or money market account within any monthly cycle period. Withdrawals or transfers to another bank account or to a third party by means of pre-authorized, automatic transfer, or telephone transfer are limited to six (6) per monthly cycle. This includes on-line banking account transfers. In-person and ATM withdrawals are unlimited.

**This account is limited to six (6) transfers by check, draft or similar order per monthly statement cycle. Transfer limitation transactions include transfers to other accounts, transfers to third parties by preauthorization, automatic withdrawal agreements or telephone transfers. Withdrawals made in person, by mail or at an ATM are unlimited.