| Checking Account Comparison |
| Features |
Free Checking |
Checking Plus |
Elite Checking |
Relationship Checking |
Magna Premier Checking |
| Best Fit for People Who: |
Like a basic checking account and no minimum balance requirement |
Like a simple checking account with monthly interest |
Are 55+ and deserve some additional account benefits by maintaining a moderate balance or other banking relationships |
Expect additional account benefits by maintaining a higher account balance or other banking relationships |
Want a high rate of interest and are frequent debit card users and enjoy the efficiencies of electronic banking |
| Opening Balance |
$25 |
$100 |
$100 |
$100 |
$100 |
| Minimum Balance or Bank Relationship to Avoid Monthly Service Charge |
$0 |
$1,000 ledger balance |
1. $5,000 ledger balance or
2. $10,000 combined deposit & consumer loan balances or
3. Originated Magna mortgage |
1. $10,000 ledger balance or
2. $10,000 combined deposit & consumer loan balances or
3. Originated Magna mortgage |
|
| Monthly Service Charge |
$0 |
$9 |
$10 |
$15 |
$0 |
| Interest Bearing |
|
x |
x |
x |
x |
| No Fee Visa Debit Card with Points 2U Rewards |
x |
x |
x |
x |
x |
| Free ATM Withdrawals at Any Magna or First TN ATM |
x |
x |
x |
x |
x |
| Free Nationwide ATM Transactions |
|
|
x |
x |
If monthly activity requirements met |
| Free Unlimited Teller Visits |
x |
x |
x |
x |
x |
| Free Unlimited Check writing |
x |
x |
x |
x |
x |
| Paper Statements |
x |
x |
x |
x |
|
| Check Images with Your Statement |
$1/month |
x |
x |
x |
x |
| e-Statements |
x |
x |
x |
x |
Required |
| Free Magna Bank Online 24/7 with Bill Pay with Account Alerts |
x |
x |
x |
x |
x |
| Free Mobile Banking 24/7 |
x |
x |
x |
x |
x |
| Free Card Alerts |
x |
x |
x |
x |
x |
| ACH Direct Deposit |
x |
x |
x |
x |
x |
| Identity Theft Protection and Cash Back Rewards thru GenGold |
Optional Feature $4.95 per month |
Optional Feature $4.95 per month |
Optional Feature $4.95 per month or Free if maintain a $5000 ledger balance |
Optional Feature $4.95 per month or Free if maintain a $5000 ledger balance |
Optional Feature $4.95 per month |
| Free Specialty Wallet Style Checks or 50% Discount Off Selected Wallet Designs |
|
|
x |
x |
|
| Free Notary |
|
|
x |
x |
|
| Free Official Checks |
|
|
x |
x |
|
| Service Charge waived on one Money Market or Savings Account |
|
|
x |
x |
|
| Consumer Loan Discount* |
x |
x |
x |
x |
x |
| Safe Deposit Box Discount |
|
|
30% discount based on availability |
30% discount based on availability |
|
| *.25% interest rate discount on new fixed rate consumer loans when payments are set up for automatic debit from your Magna Bank checking account. |
| Refer to Personal Checking for specific account requirements. |