Checking

A checking account will likely be the most common of accounts. Unlike checking accounts from most banks, this one will provide interest at a better rate than some banks’ savings accounts. The checking account will provide 1% interest, have a debit card, and offer unlimited withdrawals. The first book of checks will be free with additional books costing $10.

The debit card will be a Mastercard Debit card, and therefore accepted anywhere Mastercard is accepted. One could also use any Allpoint ATMs to withdrawal cash in increments of $20. Other ATMs will likely carry a surcharge from the providing bank, but FSP Bank will not charge a fee.

The account will also offer a credit line attached to the account to protect against overdrafts. The interest rate is 1.5% which is much better than the flat rate fee of $40 that most banks charge per overdraft. A credit check will be done to gain the line of credit, but will likely be a good cushion of financial protection.