Business Checking
Any account which is intended
to hold funds belonging to a business, or to pay
business expenses or payroll, must be opened as
a commercial account. We offer both savings and
checking accounts for commercial customers. In
addition, corporate customers can purchase
certificates of deposit, with the exception of
IRA's.
New Account....We now
offer a Basic Business Checking which is
designed to meet the checking account needs for
the small business client.
Regular Commercial Checking
 | Designed to meet the many
complex needs of our business clients. |
| Convenient month-end
statements to coincide with monthly record
keeping. |
| Earnings allowance
calculated on average monthly collected
balance applied to offset charges for
account maintenance. Earnings
allowance based on average auction rate of
90 day Treasury Bill. |
| Account analysis available
upon request at no charge. |
"Preferred"
Commercial Checking
Some commercial depositors are
eligible to hold interest bearing
"Preferred" Accounts, including;
however, not limited to the following:
| Sole proprietors |
| Husband and wife operating
unincorporated business |
| Independent school
district |
| Trust and other fiduciary
accounts (provided entire balance is held by
individual or qualifying organization.) |
Examples of commercial
depositors INELIGIBLE to maintain
"Preferred" Accounts include:
| Realty or real estate
investment trusts |
| Credit unions |
| Hospital districts |
| State and local government
units |
| Partnerships operated for
profit |
| Professional
corporations |
| Political parties or
campaign committees. |
If a depositor elects to
receive interest, maintenance fees are
calculated according to the same schedule used
on the regular commercial checking. The earnings
credit rate is adjusted by the rate of interest
being paid on the account.
Features & Benefits
| Check writing
privileges |
| Monthly statement |
| Return of canceled
checks |
| Sweep processing* |
| Variety of business
checks |
| Endorsement
stamps |
| Night deposit* |
| Night deposit bags* |
Earnings Credit
An earnings credit will be
given on compensating balances in your account
to offset applicable indirect charges. The rate of
the earnings credit will be tied to the 3 month
Treasury Bill, with a floor of 2% and a ceiling
of 8%, and will be applied to your average
monthly collected balance.
BASIC BUSINESS
CHECKING
for the small business client
| $25.00 minimum to open
account. |
| $300.00 minimum daily
balance. If the balance falls below
$300.00, there will be a monthly fee of
$5.00. |
| 50 FREE items per
statement cycle (debits or deposited items).
There will be a service fee of $0.10 per
item for items over the allowed 50. |
| Statement only account
(no charge). An image statement is
provided at a cost of $5.00 per month.
|
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