Business Account Fee Schedule
Small Business Checking:
With the Small Business Account you are allowed 50 debits (checks) and 100 deposit items each month with no per item fee. There will be a $.20 per item fee for each debit (check) over 50 and $.15 for each item deposited in excess of 100 items per month, regardless of your balance.
You may avoid a $10 monthly maintenance fee by maintaining a minimum daily balance of $1,000 or an average balance of $2,500.
Business Analysis Checking:
This account earns credit on the collected balance to offset fees charged for services used each month.
The perfect account for the sole proprietor or non-profit organization; this account functions exactly as a business checking account, but with one major difference - your account earns interest.
Business Money Market:
The minimum amount to open a Business Money Market Account is $1,000. The minimum daily balance is used to calculate interest. You will earn interest on your entire collected balance based on four tiers.
An $8 charge will be imposed every statement cycle if the daily balance falls below $1,000 any day of the statement cycle or if the average daily balance for the statement cycle falls below $2,500.
With a money market account, your are limited by law to six third party transactions, no more than three of which can be checks. The other three transactions can be pre-authorized drafts or automatic transfer to other accounts. There are no legal limitations on the number of transfers or withdrawals made by mail or in person. If transactions exceed the legal limit, there will be a $5 per transaction fee.
Business Savings Account:
The Business Savings Account has a minimum opening deposit of $100. If the average balance drops below $100, a $5 quarterly charge applies. The account is limited to three withdrawals per quarter and each additional withdrawal incurs a $5 service charge.