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Peoples Bank Announces Deposit Account Updates

March 20, 2023

As part of our commitment to providing the best financial products and services for our customers, we have made some adjustments to our checking and savings solutions in certain critical areas. Customers have been sent a letter highlighting specific updates to each account. New products are available today and existing accounts will convert on May 1st.

We understand that any change can lead to questions, so please reach out to your local branch or our customer support center for assistance. We would be happy to review your accounts, ensuring you are still in the best checking or savings solution, taking full advantage of all the features and benefits.

A Few Highlights

We have simplified and updated our Personal Relationship Checking. The account no longer has tiered levels or features and instead offers multiple premium benefits when minimum qualifiers are met.

We are excited to introduce two new accounts for our younger customers. Our new Teen Access Checking  is a no-fee account designed for youth ages 13-19 who are looking to start their financial journey. Our new high-yield Youth Savings Account is designed to reward and instill good saving habits for kids. This account earns a premium rate on the first $1,000 in your account. See Rates.

We have consolidated our Savings and Money Market Accounts. Over the years, our accounts have grown quite a bit, but a few legacy products have remained. To ensure all customers are rewarded for their balances, we’ve consolidated our products, and will now offer one Savings and one Money Market solution. Our new Personal Money Market and Business Money Market remain the ideal solution for customers seeking a higher yield on larger balances.

Our Business Checking solutions have had fewer changes, however, we have updated some of the features and fees where necessary.  There is now no charge for access to Business Manager, our Business Online Banking service. We have also discounted our Business Bill Pay services, which are now free for the first 10 payments each month. Please review our new Business Fee Schedule for all applicable fees effective May 1st.

If you would like to discuss these changes or better understand how they may impact your account, please contact Customer Support at (800) 584-8859, stop by your local branch, or explore our online resources to learn more.

Thank you for choosing Peoples Bank!

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