This type of account can be opened with a minimum deposit of $100.00. This account will not incur a monthly service charge if there are five or fewer checks written or withdrawals made throughout the statement cycle (monthly). A per item fee of $2.00 will be charged for each check written in excess of five during the statement cycle. Unlike the basic checking account, there is not a minimum balance that must be maintained to avoid a monthly service charge with this type of account.
Lifeline accounts are available to individuals, corporations, non-profit organizations, and many other types of entities.