Business Checking Account Comparison

Features & Benefits Basic Business Checking Business Checking 500 Business Interest Checking 1
BALANCES AND TRANSACTIONS
MINIMUM OPENING BALANCE $100 $100 $100
MINIMUM BALANCE REQUIREMENT AND/OR TRANSACTION LIMIT (to waive maintenance fee) 200 or less total items and $2,500 average collected balance 2 500 or less total items and $15,000 average collected balance 2 $2,500 minimum daily balance OR $5,000 average collected balance 2
TRANSACTION LIMIT: TOTAL ITEMS ALLOWED (debit, credit and items deposited) 200 items per month 500 items per month 200 items per month
MAXIMUM MONTHLY COIN/CURRENCY DEPOSITED 3 First $7,500 at no charge. Greater than $7,500 deposited $0.25 (per $100). First $20,000 at no charge. Greater than $20,000 deposited $0.25 (per $100). First $5,000 at no charge. Greater than $5,000 deposited $0.25 (per $100)
FEES
OVER THE MAXIMUM TOTAL ITEM FEE $0.50 $0.50 $0.50
MAINTENANCE FEE (if requirements are not met) $15 per month $20 per month $15 per month
OTHER SERVICES
ANCILLARY ANALYSIS SERVICES:      
  • Cash Management Monthly Fee
  $20  
  • ACH Capability
  $20  
  • Wire Capability
  $20  
  • Positive Pay
  $20  
  • Remote Deposit Capture
  $30  

 

Features & Benefits Business Analysis Checking Business Money Market Business Savings
BALANCES AND TRANSACTIONS
MINIMUM OPENING BALANCE $100 $1,000 $5,000
MINIMUM BALANCE REQUIREMENT AND/OR TRANSACTION LIMIT (to waive maintenance fee) Based on account activity $5,000 minimum daily balance OR $7,500 average collected balance 2 $5,000 minimum daily balance
TRANSACTION LIMIT: TOTAL ITEMS ALLOWED (debit, credit and items deposited) N/A In addition to this account’s monthly $15 Maintenance Fee, a $10 excessive activity fee will be imposed for any withdrawal and/or transfer that exceeds Regulation D’s six allowable monthly transactions. This excludes in person withdrawals at teller counter and ATM.4 In addition to this account's quarterly $30 Maintenance Fee, a $10 withdrawal fee will be imposed for any withdrawal and/or transfer that exceeds Regulation D's six allowable monthly transactions. This excludes in person withdrawals at teller counter and ATM.4
MAXIMUM MONTHLY COIN/CURRENCY DEPOSITED 3 N/A N/A N/A
FEES
OVER THE MAXIMUM TOTAL ITEM FEE      
MAINTENANCE FEE (if requirements are not met) Based on account activity $15 per month $30 per quarter
       
1
Only available to sole proprietors, non-profits and governmental units.
2 The average collected balance is the sum of daily ledger balance minus uncollected checks deposited, divided by the number of days in the account’s statement.
3 Charges for exceeding the Maximum Monthly Coin/Currency Deposited will be reflected in the next month's statement.
4 Per Federal Regulatory ruling, you are not permitted to make more than six withdrawals and/or transfers each month to another account of yours or to a third party by means of: a preauthorized or automatic transfer or telephone order or instruction or Computer transfer through Internet or Mobile Banking and/or by check, draft, debit card or similar order to a third party. This excludes in-person withdrawals at teller counter and ATM. Each withdrawal in excess of six per calendar month for savings will receive a $10 withdrawal fee and monthly statement cycle for money market will receive a $10 excessive activity fee. And, repeated occurrence of excessive activity requires Hamilton State Bank to close such account.
All accounts subject to approval.