The Right Type of Accounts for You

The Right Type of Accounts for You

Choosing the right type of account for you and your family can be tricky. Some accounts earn interest, some have fees, and some offer additional benefits based on balance, age, and more. And just when you think you’ve got it figured out, the account types, requirements, and promotions differ from bank to bank.

Don’t worry! Like other community banks, we’re here to help you make the best decisions for your needs. We’ve taken the time to break down the key differences and benefits of each of our personal accounts below:

Lowcountry Checking Account:

Our Lowcountry Checking account is best for customers that can balance potential fees in exchange for helpful perks. The account earns interest, comes with free personal checks, 5 free cashier’s checks per month, and 5 foreign ATM fees waived per month. However, there is a $12 monthly service charge to make these perks a possibility.

Good news though! If you maintain a $2,500 balance or a loan balance of $25,000, that fee will be waived! All the perks, none of the fees!

Personal Checking Account:

Our Personal Checking account is the go-to account if you’re interested in an account to be used for day-to-day activities like payroll, debit card activities, and deposits or withdrawals.  While this account doesn’t earn any interest, it also doesn’t require a minimum balance or a monthly service charge.

Our Personal Checking account can also be used as a Student Checking account for anyone 15+. Student Checking has all the same features as our standard Personal Checking account except for one thing – a lower debit card limit. It’s never too early to begin teaching financial literacy and responsibility, and a Student Checking account can provide personal experience with a fraction of the risk.

Pelican Checking Account:

Our Pelican Checking account is designed for seniors 55 and older to provide a comfortable banking experience. No minimum balances and no service charges combined with free checks and 5 free cashier’s checks per month AND the ability to earn interest based on the balance of the account.

Personal Money Market Account:

Our Personal Money Market accounts are the perfect fit for someone with a little extra money that they want to earn interest on that they can’t get from a checking account but need more access to than a standard savings account allows. With a minimum $1,000 opening deposit, our Money Market accounts earn tiered interest based on balance. These accounts have a $5 service charge, a limit of 6 transfers/withdrawals per statement cycle (with an additional $5 charge for each third-party transaction over that limit), and if your balance falls below $1,000 then only standard interest rates will apply.  Money Markets may have more limitations, but they come with more rewards as well.

Personal Savings Account:

Our Personal Savings accounts provide customers with a secure place to save additional funds for short and long-term savings goals – a future nest egg, a new car, or even a college fund. With standard interest earned daily and paid quarterly a personal savings account won’t make you rich overnight, but it will earn you money that a standard checking account won’t. There’s a limit of 6 transfers/withdrawals a quarter with a $1 fee for each additional withdrawal and a $3 charge per quarter if the balance falls before $50.

Our Personal Savings accounts can also be used as Junior Savings accounts for those between the ages of 15 and 18. All the same perks and requirements as a normal Personal Savings account except there’s NO charge based on minimum requirements.

Christmas Club Account:

Our Christmas Club accounts are designed for customers that want to save towards one big event – like Christmas! A 50-week club that starts at the beginning of November and runs through the middle of October, this account earns standard interest and can be added to as often as you want as long as you don’t withdraw from the account. You can close the account early if you need, but there is a $5 penalty and a forfeiture of all interest.

Certificates of Deposits:

Certificates of Deposits (CDs) are accounts designed to lock in your initial deposit and earn higher interest than standard checking and savings accounts. To earn that higher interest, CDs are non-transactional accounts. Your funds are locked down until the end of your term. Terms can range from 7-364 days with a minimum deposit of $1,000 and 12-48 months with a minimum deposit of $500.

Individual Retirement Accounts:

Individual Retirement accounts (IRAs) are available for individuals to set aside funds for retirement and take advantage of tax-deferred or tax-free interest income. You will want to consult with your tax advisor for details. We offer both Traditional and Roth IRAs accounts based on your specific tax needs.


It’s a lot of information to process – we know! No one’s situations, needs, and wants are the same, and the account or combination of accounts that work for one customer might not be the most beneficial to another. BUT, the best thing about banking locally – we’re here to help. Our customer service representatives (CSRs) are dedicated to serving our customers and making sure that our communities thrive.

Is there an account that interests you? Do you have a question this article didn’t answer? Or do you just want to know more about our account options? You can find a breakdown of our accounts at Personal Banking – Bank of the Lowcountry ( or give us a call at (843) 549-2265 and we’ll make sure you get off on the right foot!

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