Business checking accounts rates, fees, disclosure
To open a business checking account: Visit a branch. For questions or more information, call us at 1-800-732-0173.
Business checking account rates
Effective Date: Friday, June 2nd, 2023
| Account | Minimum balance to earn dividends* | Dividend rate | Annual Percentage Yield (APY) |
|---|---|---|---|
| Free Business Checking | $0.00 | 0.00% | 0.00% |
| Smart Business Checking | $1,000.00 | 0.01% | 0.01% |
| Select Business Checking | $10,000.00 | See chart below | See chart below |
| Minimum balance required to open all business checking accounts is $25.00 | |||
*Minimum average daily balance must be maintained to earn dividends.
Select Business Checking account rates
Effective Date: Friday, June 2nd, 2023
| For account balances of | Dividend rate | Annual Percentage Yield (APY) |
|---|---|---|
| 0 - $9,999 | 0.00% | 0.00% |
| $10,000 - $24,999 | 0.01% | 0.01% |
| $25,000 - $49,999 | 0.01% | 0.01% |
| $50,000 - $99,999 | 0.03% | 0.03% |
| $100,000+ | 0.05% | 0.05% |
Business checking account fees
Effective Date: Friday, June 2nd, 2023
| Fee type | Product fees |
|---|---|
| Free Business Checking | |
| No minimum balance requirements | |
| Checks deposited–first 100 checks | Free |
| Checks deposited–100+ checks | $0.20 / each |
| Cash deposited–up to $3,000 | Free |
| Cash deposited–over $3,000 | $0.10 / $100 |
| Checks cleared–first 100 checks | Free |
| Checks cleared–over 100 checks | $0.20 / each |
| Smart Business Checking | |
| $3,000 average daily balance | No charge |
| Less than $3,000 average daily balance | $10 / statement period |
| Checks deposited–first 250 checks | Free |
| Checks deposited–250+ checks | $0.15 / each |
| Cash deposited–up to $5,000 | Free |
| Cash deposited–over $5,000 | $0.10 / $100 |
| Checks cleared–first 200 checks | Free |
| Checks cleared–200+ checks | $0.15 / each |
| Select Business Checking | |
| Account service fee | $15 / statement period |
| Checks deposited | $0.12 / each |
| Cash deposited | $0.12 / $100 |
| Checks cleared | $0.12 / each |
| Other checking-related fees | |
| Non-MICR encoded checks | $5 / item |
| Misencoded checks | $5 / item |
| Overdraft paid $5.00 or less | No fee |
| Overdraft paid $5.01 or greater | $30.00 per presentment** |
| Overdraft returned $5.00 or less | No fee |
| Overdraft returned $5.01 or greater | $30.00 per presentment** |
** Overdraft fees are limited to a daily maximum of 5 overdraft fees per day. Overdraft fees assessed can be overdraft paid fees, overdraft returned fees, or a combination of both. If we do not pay an overdraft item, there may be a fee as set forth within our fee schedule. We may charge a fee each time an item is submitted or resubmitted for payment. Therefore, you may be assessed more than one overdraft fee as a result of a returned item or resubmission(s) of the returned item. | |
| Overdraft protection transfer | $4 / transfer |
| Stop payment | $25 |
| Check copy | $5 / copy |
| Dishonored credit union check written by authorized signer | $30 / check |
| Business checks | Fees depend on the quantity and style ordered. |
| Endorsement stamps | Fees depend on the quantity and style ordered. |
| Temporary checks | $2 / page |
| Check images printed and mailed | $25 / month |