Non-profit organizations, churches, clubs or associations qualify for this type account. No service charge if the minimum balance is maintained throughout the statement cycle.
This checking account provides business owners more control over fees and account activity. This account is ideal for start-ups and smaller businesses.
This account is designed for high volume transaction activity. This account utilizes deposit balances to earn credit that can offset service charges on your account.
Accounts will receive an earnings credit through an account analysis routine. The credit will be calculated using the Fed Funds Target Rate less 1.00% applied against the average daily collected balance for the month less 10% for legal reserve requirement. The resulting credit is applied against the service charge calculated according to transaction volume using the per item charges above. If the calculated earnings credit is greater than the calculated service charge, there is no service charge assessed. If the service charge is greater than the earnings credit, the account will be charged the difference. Any applicable miscellaneous charges for services such as coin, currency, etc. will not be a part of the analysis calculation but will be charged separately.
This is an interest bearing checking account available to select business entities. If you maintain a daily minimum balance greater than $5,000 and want to earn interest on your funds, then this may be the account for your business.