Savings and Money Market Accounts

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New changes made 7/1/2021 shown in red below.

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Regular Savings (for personal and business/organization) Youth Savings (for personal savers up to age 18) Money Market Savings Account (for personal and business / organization)
Designed to: 

How much could you save over time?<  Read how to create a personal budget.

Unlimited cash savings and wealth building through post-tax deposits. Unlimited cash savings and wealth building for youth savers up to 18th birthday. Younger savers will enjoy the "Penny" feature. Unlimited cash savings and capital building through post-tax deposits, and higher yields than Regular Savings based on account balance size.
Interest rate: See current rate sheet. See current rate sheet. See current rate sheet. Based on tiers of balance levels.
Interest compounded / credited: Quarterly Quarterly Monthly
Interest calculation method: Daily balance Daily balance Daily balance
Minimum to open: $100.00 No minimum $100.00
Monthly maintenance fee: $2.00 monthly if ending daily balance falls below $100 any day of the cycle. Accounts dormant (no debit or credit transaction) after 12 months are charged $5.00 monthly if less than $100 balance. None if age 18 and under. When depositor turns age 18, the account will automatically become a Regular Savings account and subject to its pricing. Accounts dormant (no debit or credit transaction) after 12 months are charged $5.00 monthly if less than $100 balance. $7.50 monthly if ending daily balance falls below $1,000 any day of the cycle. Accounts dormant (no debit or credit transaction) after 12 months are charged $5.00 monthly if less than $100 balance.
Negative balance fees: $25.00 fee for any item that produces a negative daily ending balance; $3.00 additional charge if account remains negative after seven days and $3.00 each day thereafter. $25.00 fee for any item that produces a negative daily ending balance; $3.00 additional charge if account remains negative after seven days and $3.00 each day thereafter. $25.00 fee for any item that produces a negative daily ending balance; $3.00 additional charge if account remains negative after seven days and $3.00 each day thereafter.
Deposits / credits / transfers in: Unlimited, no transaction fees. Unlimited, no transaction fees. Unlimited .$0.10 after ten in a month.
Withdrawals / debits / transfers out: Unlimited transactions. Fees vary: if conducted via DSBconnect online-mobile banking, Telebanking or ACH, there are no transaction fees.  If conducted via teller, telephone call, or ATM, the first 12 transactions in a calendar month are free, any thereafter are assessed a $1 per withdrawal fee collected at the end of the month, although if the account maintains a $1000 daily balance, no excessive withdrawal fee will be charged.  Unlimited transactions. Fees vary: if conducted via DSBconnect online-mobile banking, Telebanking or ACH, there are no transaction fees.  If conducted via teller, telephone call, or ATM, the first 12 transactions in a calendar month are free, any thereafter are assessed a $1 per withdrawal fee collected at the end of the month, although if the account maintains a $1000 daily balance, no excessive withdrawal fee will be charged.  Limited to 6 per month, any thereafter are assessed a $5 per withdrawal fee collected at the end of the month, regardless of balance. 
ATM card: Can be used at ATMs only, not for card purchases. If used at a non-DSB ATM, subject to fee as disclosed on ATM screen by the ATM operator. Can be used at ATMs only, not for card purchases. If used at a non-DSB ATM, subject to fee as disclosed on ATM screen by the ATM operator. Can be used at ATMs only, not for card purchases. If used at a non-DSB ATM, subject to fee as disclosed on ATM screen by the ATM operator.
Account statements: Delivered monthly, quarterly or semi-annually, based on electronic funds transfer activity, either by mail or online. If the savings account owner also owns a checking account at DSB, the savings account statement will be included at the end of each monthly checking statement. Delivered monthly, quarterly or semi-annually, based on electronic funds transfer activity, either by mail or online. If the savings account owner also owns a checking account at DSB, the savings account statement will be included at the end of each monthly checking statement. Delivered monthly, either by mail or online. If the savings account owner also owns a checking account at DSB, the money market account statement will be included at the end of each monthly checking statement.


Terms and Conditions disclosure: 

Contact the bank if you would like copy of Terms and Conditions.

Differences Between Money Market Savings Accounts and Money Market Mutual Funds

-- Money Market Savings Accounts are interest-bearing bank deposit accounts with withdrawal rights. Accounts are FDIC-insured.

-- Money Market Mutual Funds are non-bank products which hold short-term debt investments such as low-risk government securities, certificates of deposit and short-term debt issued by public companies ("commercial paper"). These shares are typically sold to investors by brokerage houses and mutual fund companies.

DSB Money Market Savings Accounts Are Coded As "Checking"

Due to the legal definitions of these accounts, Money Market Savings Accounts are categorized as "checking" accounts on the Telebanking and online/mobile banking systems, not "savings" accounts. The word "checking" is used on your Money Market Savings Account statement, even though checks cannot be written on DSB Money Market Savings Accounts.