Commercial Business Account

Commercial Business Account

As your business grows, you need a checking account that can handle the workload. This account does that and more.

Commercial Business Checking is designed for companies that have a high number of monthly transactions. Our low transaction charges and a competitive service fee will keep your operating costs low. We even offer an earnings credit that can significantly reduce or even offset the monthly charges. Take control of your finances with an account equipped to handle them.

Summary
  • Competitive service fees
  • Itemized monthly account summary and analysis
  • Earnings credit can reduce or offset fees
  • Cash management and merchant card services available
  • Remote deposit capture available
  • Free MasterCard® CheckCard
  • Free online banking and e-Statements
  • Bill pay available
  • Free telephone banking
  • Cancelled check images
  • $100 minimum to open
Account Analysis FAQ

Q: What is my average daily balance?

A: This is the average balance in your checking account. You may calculate this by averaging the balances at the end of each day on your bank statement.

Q: What is an uncollected balance?

A: The uncollected balance is the average amount of your account balance during the month that was in the process of collection. This means that you deposited the check and we have sent it to the bank. It was drawn on but it has not arrived. These funds are not investable and therefore not included in the earnings credit. "Collected" means the check has arrived at the bank and the check is drawn on. These funds are investable and are included in your earnings credit.

Q: What is an earnings credit and how is the rate established?

A: An earnings credit is interest calculated on your available balance and is used to offset service fees. The rate is based on the average discount rate of the 9-day Treasury Bill auctions held during the month.

Q: What is an available balance?

A: The available balance is the average daily balance in your account less the uncollected balance. It represents the average amount of your deposits that were investable by the bank during the month.

Q: If my earnings credit is not sufficient to cover my service fees, how are the fees collected by the bank?

A: The sum not offset by the earnings credit is charged to your account and clearly indicated on the account analysis form and on your bank statement.

Q: Can the charges for services be changed?

A: Yes, depending on the bank's actual costs as well as competitive factors.

Q: How can I avoid paying service fees?

A: First, be sure you are efficient in the use of your bank accounts. Consolidate accounts where possible and write no more checks than are necessary. Second, determine the balance needed to support your banking services. Maintaining that balance on average will eliminate service fees. Please call the bank if you need additional help.

Q: What if I still don't understand my customer account analysis when it arrives?

A: Just bring the report to the bank and discuss it with your bank officer. We will be happy to explain each and every entry to your satisfaction.