BUSINESS CHECKING PLANS |
American Business
Package |
American Business
Checking |
American Business NOW |
| Account Profile |
A packaged
business checking account designed to control costs for
accounts with less than 200 items per month. Services for no
additional cost include: Notary Service, Cashier’s Checks, and
Account Inquiries. |
Unlimited
checking for all types of business
accounts.
|
An interest
earning account with unlimited check writing for a sole
proprietorship or not-for-profit organization. |
| Special Features |
Open a
second account for payroll, vendor payments, or other needs
for a flat monthly maintenance fee with up to 50 items
processed free each cycle. Plus you can apply for a Line of
Credit to help your business stretch its working
capital. |
Earnings
credit helps minimize service charges and fees.
Visa/MasterCard merchant set-up available. |
Federal
regulations prevent for-profit corporations and partnerships
from being eligible for NOW accounts. |
To Waive Monthly Maintenance Fee |
Maintain a
daily account balance of $3000 or more in primary Business Package
account. The second account’s flat monthly maintenance fee cannot
be waived. |
Monthly
maintenance fees are offset by earnings credit, based on
91-day Treasury Bill rate, which is applied to the average
investable balance. |
Maintain a
daily account balance of $1500 or more.
|
Monthly Maintenance Fee |
$20.00 per
month if minimum daily account balance requirement is not met.
Second account - $5.00 (see box above) |
$12.00 per
month regardless of balance, plus analysis fees |
$12.00 per
month if minimum daily account balance requirement is not met,
plus analysis fees. |
Transaction Charges |
Items in excess of 200 are charged
at $.25 per item for primary account. Items include items
paid, items deposited, POS debits and ACH debits. On secondary
account, items after 50 are $.50 each,
Incoming cash: $.50 per $1000.00
|
Analysis Fees:
ACH Debit $.12
ATM Transfer - Other Bank $1.00
Change Order:
Rolled coin $.10 per roll
Currency service $.01 per bill
Checks Paid $.12
Collection Item:
Incoming or outgoing $15.00
Overnight postage fee Carrier's current rate
Customer Service Balance Inquiry $3.00
Customer Service Phone Transfer $3.00
Deposit Correction $5.00 (waived if correction is $1.00 or less)
Deposit Item:
Local $.07
Non-local $.08
Deposit Slip Credit $.30
Deposited Return Item $5.00
Earnings Credit Based on the 91-day T-Bill*
FDIC Assessment $.0001 per $100.00
Incoming Cash $.50 per $1,000.00
Negative Earnings Credit Base rate plus 3%*
Point of sale Debit $.12
Reserve Requirement 10%
Wire Transfer:
Incoming $5.00
Outgoing, domestic $15.00
Outgoing, foreign $50.00 plus research fee if needed
* The earnings credit is based on the 91-day Treasury Bill rate,
which is applied to the average investable balance of the account.
Special handling fees apply to bulk coins. |
| Interest |
Not
applicable |
Not
applicable |
Interest is
variable and paid monthly on collected balances. |
Minimum Opening Deposit |
$200 |
$500 |
$500 |