Border State Bank | Business Banking

Business Banking

Small Business Checking
Ideal for smaller businesses with limited checking needs.

Minimum to Open: $100

Monthly Service Fee: $5 if account balance falls below $100 during the month ($2000 for International Falls customers)

Transaction Fees:

No charge for first 50 checks/debits per month.*
No charge for first 50 items deposited per month.*
$3.00 returned check charge.

Earnings Credit: No

Interest earning: No

Statements: Complimentary ReadyImage statements provided.

*$.15 per item charge after first initial 50 debits or deposited itmes.

Commercial Checking
Larger businesses with high monthly transaction volumes
will benefit from this account.

Minimum to Open: $100

Monthly Service Fee: $10

Transaction Fees:

On-Us Deposited Items - No Charge
Local Deposited Items - $.05 per item.
Transit Deposited Items - $.07 per item.
$.12 per check/debit written on the account.
$3.00 returned check charge.

Earnings Credit: Yes

Interest earning: No

Statements: Complimentary ReadyImage statements provided.

NOW
An interest earning account
for sole proprietors.

Minimum to open: $500

Monthly service charge: $5 (if daily balance falls below $500)

Minimum daily balance: $500

Interest earning: Earned on daily balance and compounded monthly.

Statments: Complimentary ReadyImage statements provided.

Sample Commercial Checking Account Earnings Credit Calculation

DEFINITIONS:

Average Ledger Collected: Balance Calculated by adding the Ledger Balance for each day in the month, divided by the total days in the month.

Reserve Requirement
Federal Regulations require that all banks hold a reserve equiva-
lent of 10% of their total checking account collected balances in
a non-interest bearing account.

Earnings Credit Balance Calculated by subtracting the 10% Reserve Requirement
from the Average Ledger Balance. This balance is used
to compute the earnings credit.

Earnings Credit Rate
Federal Regulations prohibit banks from paying interest on
corporate checking accounts. Banks are allowed to offer non-
cash credit based on account balances to offset charges.

Sample Calculation: 1. Your Earnings Credit Balance is Calculated:
Average Ledger Balance	$7,000.00

Less the Reserve Requirement (10%)	($700.00)
Equals the Earnings Credit Balance	$6,300.00
2. Your Earnings Credit is Calculated:
Earnings Credit Balance	$5,760.00
Multiplied by Earnings Credit Rate* (annual rate)	2%
Multiplied by the number of days in the statement cycle.	30
Divided by 365	÷ 365
Equals your Earnings Credit	$9.46
Your Earnings Credit is used to offset the service charges and transaction fees your account has accrued for the month. *Rate is for demonstration purposes only.

For more information contact one of our Personal Bankers.