Deposit Services

Once your membership is approved, the IDEAL Way account, or primary DDA, is established for you, enabling us to process advance transactions, periodic interest billings, capital stock purchases, redemptions, dividend payments, fees, and more. Members may also request to have additional secondary DDAs established for other purposes. 

The account features and benefits include:

Interest Bearing: Collected balances accrue interest daily. 

Minimum Balance Requirement: None

Overdraft Protection: An IDEAL Way Line of Credit is available upon request. The line of credit provides an advance to cover an overdraft, helping you meet unexpected cash needs conveniently and cost-effectively.

Reserve Requirements: There are no reserve requirements applied to member deposit accounts.

Transferring Funds: Book transfers and wires settle securely through your account(s). When wiring funds into an account, be sure to include your account number to assure funds are applied promptly.

Minimums: None

The Rollover Overnight Account investment account supports automatic rollover until you request withdrawal, or until funds are used to cover an IDEAL Way overdraft. Rollover Overnight transactions can be made by logging in to Online Banking, calling the Member Funding Desk at 800-357-3452, or wiring funds directly into the account. 

Note: Member deposits at FHLBank Boston are not insured.