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FreeStyle Account
Our FreeStyle Account gives you access to the convenience and safety of a basic, no frills checking account.
Features:
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Low $100.00 minimum opening deposit – Requirement waived with direct deposit of payroll, pension, governmental payments (SSA & SSI) or similar deposit types.
- No monthly maintenance fee
- First order of complimentary checks is free (Variety Pack)
- ATM or Debit card access is available at no charge. Both cards are subject to credit approval.
N.O.W. Account Checking
For those customers who want the convenience and safety of a checking account combined with the power of interest earnings.
Features:
- Low $500.00 minimum opening deposit
- No monthly maintenance fee for customers maintaining a minimum balance of more than $1,000.
- $10.00 maintenance fee if balance falls between $1,000 and $500 at any time during the monthly statement cycle.
- $15.00 maintenance fee if balance falls below $500 at any time during the monthly statement cycle.
- ATM or Debit card access is available at no charge. Both cards are subject to credit approval.
Benefits:
- Competitive rates of interest paid on account balances over $500.
Freedom Fifty Club Checking Account
When you’re young, the next birthday never comes soon enough. When you get older, most of us wonder where the time has gone. With a Merchants & Planters Bank Freedom Fifty Account, we at least make your 50th birthday something to look forward to. A Freedom Fifty account provides a basic, interest-producing account for our customers who have reached their 50th birthday.
Features:
- Low $100.00 minimum opening deposit or direct deposit authorization for payroll or retirement benefit payments.
- No service charges and no minimum balance to maintain.
- ATM or Debit card access is available at no charge. Both cards are subject to credit approval.
Benefits:
- Interest earned on entire account balance.
- Free Freedom 50 basic wallet style checks. 50 percent discount on other designer checks.
- No issue fee on personal money orders and travelers' checks.
- Complimentary photocopy and notary service
Freedom Fifty Plus Club Checking Account
For the discerning 50 year old who wants the benefits of the Freedom 50, PLUS
more . . .
Features:
- ATM or Debit card access is available at no charge. Both cards are subject to credit approval.
- Earns interest at competitive rates
- Low monthly fee of $3.75 that entitles you to accidental death and dismemberment insurance, discounted services, and other club benefits..
- Freedom 50 Plus basic wallet style checks at no additional charge. 50 percent discount on other designer checks.
Benefits:
- $25,000 accidental death and dismemberment insurance
- $100,000 accidental death insurance on common carrier
- Discount on safe deposit boxes (subject to branch availability)
- Availability of pharmacy discount card, credit card protection service, lost key return service, theme park discounts, household inventory records, car and truck rental discounts, custom trip routing, discount on vision care, and grocery coupon savings. (Just fill out appropriate information in new account membership packet.)
Quality Checking - Regular
A checking account that provides valuable member benefits for a reasonable monthly cost.
Features:
- Low $100.00 minimum opening deposit
- Reasonable $8.00 per month cost
- ATM or Debit card access is available at no charge. Both cards are subject to credit approval.
Benefits:
- $10,000 accidental death and dismemberment insurance
- $100,000 accidental death common carrier insurance
- Complimentary notary and photocopy service
- Credit card protection service, lost key return, theme park discounts, household inventory records, discount car and truck rental, and custom trip routing.
- Up to three free Quality Club check orders per year (limit one box per order).
- No issue charge on money orders (limit 5 per month)
- No issue charge on traveler’s checks.
Relationship Account
Without relationships, we cannot experience life. Whether the relationship is with Mom or Dad, brother or sister, life is filled with relationships. At Merchants & Planters Bank, we’re not satisfied with having “customers,” we want to build and maintain a RELATIONSHIP. We want to be your bank . . . and we’re giving you some very good reasons to start a RELATIONSHIP with us today.
Features:
- Low, opening balance of $100.00
- Free account when any one of the following statements apply to you: 1) You have total combined deposits in checking, savings, or time deposits (CD’s) of $7,500 or more; or 2) You have a credit line with a current balance of $10,000 or more; 3) You have real estate loan(s) or personal loan(s) that have a current balance of $25,000 or more.
- If these relationships don’t apply to you, then a $15.00 cost will be assessed on your monthly statement.
- Competitive interest rates on a tiered system. Base rate changes to a higher rate at $1,000, $2,500, $5,000, and $10,000 levels.
Benefits:
- Overdraft protection with no annual fee (subject to credit approval)
- Free Relationship wallet-style checks (several styles to choose from)
- Safe deposit box discounts (subject to branch availability)
- No issue charge on money orders and travelers' checks
- No stop payment fees
- Complimentary photocopy and notary service
- ATM or Debit card access is available at no charge. Both cards are subject to credit approval.
- Eligible for promotional CD rate premiums.
*APPLIES TO ALL CHECKING ACCOUNTS:
- Monthly statement outlining all transactions
- Actual checks and deposits are returned for your records
- FDIC insurance coverage
Personal Money Market
Money market accounts combine the interest earning power of a savings account with the check writing privileges of a checking account. This is for the astute saver who needs occasional check writing capabilities.
Features:
- $2,500.00 minimum opening deposit
- No monthly fees when a minimum balance of $2,500.00 is maintained, otherwise $12.50 per month.
- Unlimited in person withdrawals and up to six preauthorized transfers are allowed per month. Three of the six preauthorized transfers can be checks you write on your balance to third parties (someone other than Merchants and Planters Bank).
Benefits:
- Interest credited to account on a monthly basis
- Competitive market rates based on the balance you carry in your account. Interest rate tiers are based on the current balance table show below (call one of our customer service representatives for a current rate quote at any one of the branches listing in our Locations section):
- .01 to $9,999.99
- $10,000.00 to $24,999.99
- $25,000.00 to $49,999.99
- $50,000.00 to $99,999.99
- $100,000.00 +
Commercial Checking Accounts
For the corporate entity, we offer a transactional account that will meet your basic check writing needs. Joined with the power of our Business Banking Internet solution, you have a powerful tool to handle most all your transactions from bill payments to company payroll payments. Ask any Customer Service Representative for further details or discover for yourself our Business Banking Internet solution by clicking on the "Business Banking Test Drive" button at www.mpbanktn.com. But don't forget, you need a checking account to utilize all these services. Listed below are some of the features of our commercial checking account.
Features:
- Account can be opened with a low, $250.00 minimum deposit
- No monthly maintenance fee is assessed for businesses maintaining a minimum balance of $750.00 or more
- A low, flat $10.00 maintenance fee is assessed if balance falls below $750.00 at any time during the monthly statement cycle
- No per item transaction fees for either deposits or checks is charged
Benefits:
- Allows basic fund transfer capability to pay vendors, employees, taxes and other related business expenditures
Business N.O.W. Accounts
Although most for-profit businesses are not eligible for N.O.W. accounts, there are some allowable exceptions. If you have any questions about your organization's eligibility, just ask any one of our customer service representatives for help. Sole proprietors are eligible for this account.
Features:
- Account can be opened with a low, $500.00 minimum deposit
- No monthly maintenance fee is assessed when a minimum balance of $1,000.00 or more is maintained
- A $10.00 maintenance fee will be assessed if balance falls between $1,000 and $500 at any time during the monthly statement cycle
- If balance falls below $500 at any time during the monthly statement cycle a $15.00 maintenance fee is charged
Benefits:
- Competitive rates of interest paid on account balances over $500.
Business Money Market Account
Our business money market account enables all types of organizations, including corporations, the ability to earn interest on their account balances. As with any money market account, Federal law limits check writing privileges. Ask any customer service representative for full details on accessing your account balance.
Features:
- Account can be opened with a $2,500.00 minimum deposit
- No monthly fees are assessed when a minimum balance of $2,500.00 is maintained, otherwise a fee of $12.50 per month is charged
- Six account balance transfers are permitted per calendar month. Of these six, only three can be by check to third parties (outside the bank). Included in these six transfers are transfers that may be made between this account and other accounts with Merchants and Planters by means of preauthorized or automatic transfer, telephone agreement, order, or instruction. In person withdrawals at teller stations are not restricted.
Benefits:
- Earn competitive interest rates on your funds
- Access funds by check, automated/pre-authorized transfer, or personal withdrawal for better cash management.
Regular Savings Account
Tired of unexpected repairs, insurance premium notices, vacations, or emergencies catching you without extra cash in your checking account? Everyone needs to build up reserve funds for those “just because” or “just in case” times. We have savings accounts that will help you build up that reserve everyone needs.
Features:
- Low $100.00 minimum opening deposit or systematic savings plan agreement
- Automatic transfers from checking to savings available - starting at as little as $10.00 per month.
- Highly competitive interest rates. Interest paid at statement issuance.
- Combined statements available with any M & P checking account
- $50 minimum daily balance required to avoid monthly servicing fee of $5 per month
Kids Club Savings
Some habits are hard to break. Start your children off at an early age with a good habit . . . saving money. Our Kids Club account will teach your children the importance of saving money, plus it will allow them to start accumulating money for that first _________ (you fill in the blank)!
Features:
- Low $10.00 minimum opening deposit or systematic savings plan.
- Automatic transfers from checking to savings available – starting at as little as $10.00 per month
- Competitive interest rates. Interest paid at statement issuance.
- Account available until age 25
*APPLIES TO ALL SAVINGS ACCOUNTS:
- Quarterly statements issued showing account activity
- FDIC insurance coverage
Holiday Transfer Account
What a great way to save for the holiday season! Merchants and Planters holiday account enables you to save a little each week or each month plus earn interest in preparation of the holiday season.
Features:
- You can start with as little as a $10.00 minimum auto deposit each month from either your checking or savings account
- No fees of any kind if your club balance at maturity is at least $100.00; otherwise, a fee of $10.00..
- At maturity, club proceeds will be automatically deposited into linked checking/savings account
Benefits:
- Competitive interest rate with quarterly compounding. Higher rate than Holiday Coupon Account.
- No coupons, no checks to cash. Once your account is set up, sit back and relax; we’ll make deposits into your account on a pre-defined schedule and put all your payments plus interest back into your linked account just in time for the holiday shopping season.
- FDIC insurance Coverage
Holiday Coupon Account
For those who do not have a checking or savings account, we offer a coupon book option to save money for the holidays. Although the interest rate is lower than the Holiday Transfer Account, it is still a good way to save.
Features:
- $20.00 minimum opening deposit
- Coupon book is required
- No fees of any kind if your club balance at maturity is at least $200.00; otherwise, a fee of $10.00.
- A check on the account will be issued at maturity
Benefits:
- Interest is compounded on a quarterly basis
- FDIC insurance coverage
 
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