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Business Checking Account
All Cash Management begins with a business checking account.
Your checking account is the foundation of the relationship
with our bank and becomes the primary account to add
additional features, to meet your specific needs. Listed
below are the two most popular types of checking
accounts for your business.
- Regular Business Account
- Business Analysis Account with compensating balances assist in offsetting the basic fees of the account.
Additional Features
Our bank has two additional features that can be used
individually or in combination with each other. As you
choose one or both of the following, a threshold balance
will be calculated to cover any service charges through
our account analysis program. This will determine the
amount of funds to be kept in your Business Analysis Account.
LINE OF CREDIT (Sweep)
12-month operating line of credit or reserve checking for
smaller businesses. This account allows the customer that
falls below the established threshold balance to draw on
their business line of credit automatically each night.
You may choose to have both of these services to be linked
to your Business Analysis Account. The first sweep is from the LINE OF
CREDIT (Sweep) to bring the balance to the threshold amount.
The second sweep is to the SWEEP ACCOUNT (Money Market
Account) if your balance exceeds the threshold balance.
HI-FI MARKET ACCOUNT
(Deposit Account-FDIC Insured to $250,000.)
You must open this account with $2500. A minimum
balance of $1000.00 is required to obtain the current
interest rate. This account compounds interest
monthly, with a tiered interest rate schedule. Six
debits
per month is allowed without any additional charge.
You will receive monthly statements on this account,
that can be linked to your checking account statement.
Daily transfers from your business checking account
can be done with collected funds via the Internet
Banking module.
CERTIFICATE OF DEPOSIT
A minimum of $1000.00 is required to purchase a
CD. We have terms from 7 days to 5 years.
Interest may be paid by check, compounded, or
automatically deposited to your checking or savings
account.
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February 22, 2012
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February 22, 2012
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