Medici Bank’s Fee Structure: What Clients Need to Know 

Understanding the fee structure of Medici Bank is essential for clients to effectively manage their finances. The bank offers various account types, each with specific fees and potential waivers. Below is a detailed breakdown of these fees and guidance on how clients can minimize costs. 

Personal Accounts 

Personal NOW Account 

• Application Fee: None 

• Account Opening Fee: None 

• Monthly Account Fee: $25, waived if a balance over $500 is maintained 

• Internal Transfers: $1 per transfer 

• Wire Transfers: 

• Domestic: $25 per transfer 

• International: $50 per transfer 

• ACH Transfers: $10 per domestic transfer 

• SEPA Transfers: €10 per transfer across Europe 

• Stablecoin Processing: 0.1% of the transaction amount or $5, whichever is greater, plus any network (gas) fees 

• Minimum Opening Deposit: $1,000 

• Inactive Account Fee: $100 per month if no deposits or withdrawals occur during the prior 12 months 

• Account Closure Fee: $50 one-time fee 

Personal Certificate of Deposit (CD) 

• Application Fee: None 

• Account Opening Fee: None 

• Monthly Account Fee: None 

• Internal Transfers: $1 per transfer to fund or liquidate 

• Wire Transfers: 

• Domestic and International: $25 per transfer to fund or liquidate 

• ACH Transfers: $10 per domestic transfer to fund or liquidate 

• SEPA Transfers: €10 per transfer across Europe to fund or liquidate 

• Stablecoin Processing: 0.1% of the transaction amount or $5, whichever is greater, plus any network (gas) fees 

• Minimum Funding: Varies; refer to specific product terms 

• Inactive Account Fee: $100 per month for CDs with two or more automatic rollovers 

• Account Closure Fee: None 

Business Accounts 

Business Demand Account 

• Application Fee: None 

• Account Opening Fee: $100 

• Monthly Account Fee: $50, waived if a balance over $50,000 is maintained 

• Internal Transfers: $1 per transfer 

• Wire Transfers: 

• Domestic: $25 per transfer 

• International: $50 per transfer 

• ACH Transfers: $10 per domestic transfer 

• SEPA Transfers: €10 per transfer across Europe 

• Stablecoin Processing: 0.1% of the transaction amount or $5, whichever is greater, plus any network (gas) fees 

• Minimum Opening Deposit: $10,000 

• Inactive Account Fee: $100 per month if no deposits or withdrawals occur during the prior 12 months 

• Account Closure Fee: $100 one-time fee 

Business Savings Account 

• Application Fee: None 

• Account Opening Fee: None 

• Monthly Account Fee: $50, waived if a balance over $50,000 is maintained 

• Internal Transfers: $1 per transfer 

• Wire Transfers: 

• Domestic: $25 per transfer 

• International: $50 per transfer 

• ACH Transfers: $10 per domestic transfer 

• SEPA Transfers: €10 per transfer across Europe 

• Stablecoin Processing: 0.1% of the transaction amount or $5, whichever is greater, plus any network (gas) fees 

• Minimum Opening Deposit: $10,000 

• Inactive Account Fee: $100 per month if no deposits or withdrawals occur during the prior 12 months 

• Account Closure Fee: $100 one-time fee 

Business Certificates of Deposit (CDs) 

• Application Fee: None 

• Account Opening Fee: None 

• Monthly Account Fee: None 

• Internal Transfers: Not applicable 

• Wire Transfers: 

• Domestic and International: $25 per transfer to fund or liquidate 

• ACH Transfers: $10 per domestic transfer to fund or liquidate 

• SEPA Transfers: €10 per transfer across Europe to fund or liquidate 

• Stablecoin Processing: 0.1% of the transaction amount or $5, whichever is greater, plus any network (gas) fees 

• Minimum Opening Deposit: $10,000 

• Inactive Account Fee: $100 per month for accounts automatically rolled over two or more times 

• Account Closure Fee: None 

Strategies to Minimize Fees 

Clients can take the following steps to reduce or avoid certain fees: 

• Maintain Minimum Balance Requirements: Keeping account balances above the specified thresholds can waive monthly account fees. 

• Consolidate Transactions: Reducing the number of wire transfers and opting for internal transfers when possible can lower transaction costs. 

• Stay Active: Regular account activity helps avoid inactivity fees. 

• Utilize Digital Banking Services: Leveraging Medici Bank's online platforms can provide cost-effective alternatives to traditional banking methods. 

By understanding and strategically managing these fees, clients can optimize their banking experience with Medici Bank.