Business Checking Accounts
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All business checking accounts require a $100 minimum deposit to open.
|Easy Business Checking||Relationship Business Checking||Business Interest Checking|| Commercial |
|Monthly service charge||No||$10||$10||$10||No|
|Avoid monthly service charge||No||$5,000 average daily balance, or $25,000 outstanding commercial loan balance||$15,000 average daily balance||Earnings credit may offset service charge and fees||No|
|Free item limit (debit or credit)||150||500||300||No||No|
|Fee per item (debit or credit) after free limit|| |
|$0.50 per credit/$0.25 per debit|| |
|Earns interest||No||No||Yes, tiered rate||No||No|
|Check images received||No||Yes||Yes||Yes||Yes|
Cash Management Services
Enable funds to flow through a business more efficiently using checking accounts, debit and credit cards, merchant services, online banking, direct deposit of payroll, sweep services, ACH, wires, money market accounts, CDs, and more. Reap benefits throughout the cash cycle; from receivables to payables to excess cash reserves.
New Rules for Opening New Business Accounts!
Effective May 11, 2018, all banks will be subject to new rules under the Bank Secrecy Act requiring us to gather more information when opening new accounts or renewing existing accounts. The rule requires the Bank to obtain, verify and record information about beneficial owners of legal entities. FinCEN has adopted what they describe as a “two pronged” approach to beneficial ownership. The ownership prong includes all natural persons with 25% or more direct or indirect equity interest in a legal entity; while the control prong is a single individual with significant managerial responsibility over the legal entity. We will ask to see each person’s identification and record information from each of them. To help you gather the required information click here to see the Certification Regarding Beneficial Owners of Legal Entity Customers form. Please visit your local branch for more information or call 888-853-7100.