Essential Checking - Ireland Bank

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Essential Checking Account

Minimum opening deposit – $100
Monthly service charge – $5
Monthly service charge reduced $5 if a minimum average daily balance of $1,500 is maintained for the statement cycle¹

Essential Plus Checking Account

Minimum opening deposit – $500
Interest compounded and paid monthly²
Monthly service charge – $15
Monthly service charge reduced $15 if a minimum average daily balance of $2,500 is maintained for the statement cycle¹

The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
You must maintain a minimum daily balance of $500 in the account each day to earn interest for that day. Interest is calculated by the daily balance computation method which applies a daily periodic rate to the principle in the account each day. An accrual of less than $0.01 per statement cycle will not be paid.