Get checking that can handle the daily demands on your business. Easily accommodate a high transaction volume with a Commercial Business Account. Our low transaction charges and a competitive account maintenance fee will keep your operating costs low. We even offer an earnings credit that can significantly reduce or even offset the monthly charges.
Account Management Tools
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.
*Automated Overdraft item fee of $27.50 imposed for each Automated Overdraft item. A fee may be imposed for paying overdrafts created by check, in-person withdrawal, ATM, POS, or other electronic means. You must bring account to a positive balance at least every 30 days. Typically, overdrafts will not be paid if account is not in good standing, you are not making regular deposits, or you exceed the predetermined overdraft limit. Payment of overdrafts is discretionary and we reserve the right not to pay.