|
$100 |
$500 monthly average to avoid service charge |
$5.00 |
No |
This account is ideal for businesses that carry lower account balances and have less than 100 transactions per month.
Pricing:
- Service Charge per month: $5.00
- First 100 transactions are FREE (debits and credits combined)
- Each check/debit paid over 100: $0.20
- Each deposit/credit over 100: $0.20
- Each deposited item over 100: $0.20
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| Classic Business Checking |
|
|
$100 |
No minimum balance requirements |
$5.00 |
No, but an earnings credit is applied each month to help offset deposit and withdrawal fees. |
Designed for businesses of all types. No minimum balance is required and service charges may be offset by an earnings credit applied each month.
Pricing:
- Service Charge per month: $5.00
- Each check and debit paid: $0.12
- Each deposit/credit to account: $0.10 (No per item fees)
|
| Commercial Checking (This is an analyzed product) |
|
|
$100 |
No minimum balance requirements |
$10.00 |
No, but an earnings credit is applied each month to help offset deposit and withdrawal fees as well as wire fees, stop payments, and ACH and NSF fees. |
Best suited for businesses that carry higher balances and use a wide variety of bank services. No minimum balance is required and an earnings credit applied at the end of each statement cycle can help offset the service charge and other fees, including but not limited to wire transfers, ACH fees, stop payments and NSF fees.
Pricing:
- Service Charge per month: $10.00 per account (This is a fully analyzed product and allows for mulitple accounts. Balances and fees will be aggregated.)
- Each outbound ACH/EFT: $0.03
- Each check paid: $0.12
- Each deposit and deposited item: $0.05
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| Business Statement Savings |
|
|
$10 |
$100 quarterly average balance to avoid service charge |
$5.00 per quarter |
Yes - Variable |
Earn a competitve interest rate while enjoying immediate access to your funds.
Interest:
Interest accrues daily and is compounded and paid quarterly.
Account Restrictions: Federal regulation limits the number of withdrawals and/or transfers that may be made from any savings account by check, debit card or other electronic means to a combined total of six per statement cycle. Any withdrawal over the limit, regardless of method, will result in a $5.00 fee per excess transaction. Repeatedly exceeding this limit may necessitate a product change.
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| Prestige Money Market Savings |
|
|
$2,500 |
$2,500 min or $5,000 monthly avg balance |
$10 if balance requirements not met |
Yes - Tiered, variable |
Earn a higher rate of interest than a standard savings account while still while enjoying immediate access to your funds. Features: - Unlimited in-bank withdrawals or transfers to other bank accounts in person or by mail
- Monthly account statements
- Limited check writing privileges
Interest:
- Interest rate varies by balance and is paid monthly
Account Restrictions: Federal regulation limits the number of withdrawals and/or transfers that may be made from any savings account by check, debit card or other electronic means to a combined total of six per statement cycle. Any withdrawal over the limit, regardless of method, will result in a $5.00 fee per excess transaction. Repeatedly exceeding this limit may necessitate a product change.
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|
NA |
NA |
NA |
NA |
A SEP plan is a retirement plan established by an employer to provide retirement benefits for employees. |
| Health Savings Account (HSA) |
|
|
$50 |
No minimum balance requirements |
No |
Yes - Tiered, variable rate |
Paired with a high-deductible health plan (HDHP), an HSA is a tax-favored account that earns interest while you save for qualified medical expenses.
Features:
- Interest rate varies by balance
- Debit card issued for payment purposes
Account Restrictions:
Eligibility restrictions apply to Health Savings Accounts. Please consult your tax advisor or the human resources department at your place of employment.
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