Commercial Checking Account
Account Overview
| Minimum Balance to Open | $100 |
| Minimum Balance to Obtain APY* | $0 |
| Interest Rate | 0% |
| APY* | N/A |
| Compound Periods Per Year | N/A |
| Interest Paid | This account does not pay interest. |
| Transaction Limits | N/A |
| Monthly Fee | $10 if average daily balance falls below $500. |
| Statement Frequency | Monthly when you have account activity. |
Account Details
- Eligibility requirements
Business or farm checking accounts must be maintained for the sole purpose of operating your business.
- Minimum balance to open that account
You must deposit $100 to open this account.
- Minimum balance to avoid imposition of fees
A minimum balance fee of $10 will be imposed every statement cycle if the average daily balance for the statement cycle falls below $500. There will be an additional fee of $0.20 per debit item if the average daily balance for the statement cycle falls below $500. These fees will be imposed as a service charge on the statement.
- The average daily balance
Calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
- Transaction limitations
There are no transaction limitations that apply to this account.
- Other features
When you have activity, you will receive a monthly statement with your check images.