Waterman Business
Business Money Market
Earn up to 1.01 APY* on your savings
Start with only $2,500
Waterman Business
Earn up to 1.01 APY* on your savings
Start with only $2,500
Get more for your money, earn more than 5x the national average.
With 24/7 online banking you can monitor your account and add additional funds at your convenience
More options with your money. Write checks and transfer funds when you need it.
Additional Features
Waterman Bank is a member of the Federal Insurance Corporation (FDIC). The FDIC protects your Waterman Bank deposits up to $250,000 per depositor for each qualifying account ownership category. This means your money is 100% protected up to the FDIC limits. Learn more about FDIC coverage here.
Mobile check deposit is a quick and convenient way to deposit your paper checks remotely. Instead of taking a trip to the bank, take a picture of the front and back of the check using the Waterman Mobile app.
The Waterman Money Market account gives you the ability to request a checkbook, and flexibility to write checks when you need it.
Online banking is great but sometimes you need help from a live person, stop by one of our locations or give us a call over the phone, someone is standing by ready to help.
Competitive Rates that grow the more you save. Start with $2,500.
Earn .25% APY*
Earn .35% APY*
Earn .45% APY*
Earn .55% APY*
Earn .75% APY*
Earn 1.01% APY*
Read our disclosures about our Money Market Savings accounts here.
Let’s Start Something Great.
Grow your savings while you grow your business. The Waterman business money market earns up to 1.01 APY*
No monthly service or minimum balance fees and additional features like mobile check deposit.
Learn more about our process to open a new account at Waterman.
A Full-service bank at your fingertips.
Learn more about our
Waterman Bank Mobile App here.
Use this free Savings Calculator to see what potential savings you could have today. For further analysis and details into your specific savings plan, contact us to discuss options.
This calculator easily answers the question "If I save "X" amount for "Y" months what will the value be at the end?"
The user enters the "Periodic Savings Amount" (amount saved or invested every month); the "Number of Months" and the "Annual Interest Rate" or the annual rate of return one expects to earn on their investments.
The calculator quickly creates a savings schedule and a set of charts that will help the user see the relationship between the amount invested and the return on the investment. The schedule can be copied and pasted to Excel, if desired.
The investment term is always expressed in months.
If you need a more advanced "Savings Calculator" - one that lets the user solve for the starting amount, the amount to invest, the interest rate, the term required to reach a goal or the future value; or if you would like to easily print the schedule; or if you need to pick a different investment frequency, then you may want to try the calculator located here: https:/financial-calculators.com/savings-calculator
All calculators will remember your choice. You may also change it at any time.
Clicking "Save changes" will cause the calculator to reload. Your edits will be lost.
It’s a hybrid savings account that earns high interest on the balance amount in your account. This account gives you the flexibility to write checks, as well as deposit money earning higher than average interest. With the Waterman Money Market account, the more you save the more you’ll earn.
There are several ways to make a deposit:
The main difference between how the Waterman High Yield Savings account and Waterman Money Market account is that a Waterman Money market account allows the option of writing checks from that account. The Waterman High Yield Savings account does not allow to you to write check from that account. There are also other differences such as balance requirements and how the different accounts earn interest. Please see our compare savings page for more information.
Yes, this money market savings account is FDIC-insured up to the allowable limits.
Yes, you can withdraw money from your Waterman Money Market account at a branch or online by transferring the money (see our “How do I transfer Money” FAQ). To withdraw funds using an ATM you’ll need to first transfer the money into a Waterman checking account
Federal law permits limiting certain types of withdrawals and transfers from savings accounts to a combined total of 6 per statement cycle. These limited transactions include things like Online and Mobile Banking transfers, transfers from your account to any of your accounts with us, or to a third party.
Please see out Money Market account disclosure for detailed information.
Yes. You can assign individuals as Payable on Death beneficiaries, which means while you’re alive the beneficiaries won’t have access to anything in the account. There are certain situations where beneficiaries are handled differently, like when dealing with a Joint with Survivorship accounts or Trust accounts when the Trustee is controlling the funds for another party. Assigning beneficiaries can give you peace of mind and can result in increased FDIC coverage for your accounts up to the legal allowable limits. For additional questions or concerns, contact us at 815-264-3201 or info@watermanbank.com.
At Waterman we believe in serving all the people in our communities, understanding your needs and finding the right solutions to meet them. Whether your goals are big or small we are only a phone call or email away, we’re here to help.
© 2022 Waterman Bank. Routing Number: 071916482 | Privacy Policy | Website Disclaimer | State of Illinois Community Reinvestment Notice | SiteMap
© 2022 Waterman Bank. Routing Number: 071916482 | Privacy Policy | Website Disclaimer | State of Illinois Community Reinvestment Notice | SiteMap