Commercial / Ag Business Checking
Small Business Checking
This business checking account is designed for the small business looking for
simple solutions.
Minimum to Open: $100
Monthly Service Fee: $5 if account balance falls below $100 during the month
Transaction Fees:
No charge for first 50 checks/debits per month.*
No charge for first 50 items deposited per month.*
$3.00 returned check charge.
Earnings Credit: No
Interest earning: No
Statements: Complimentary ReadyImage statements provided.
Account Benefits:
FREE check safekeeping
FREE Instant Cash & Debit Card
*subject to qualifications
FREE ATM transactions at BSB locations
and select others. *contact BO
FREE Online Banking
• monitor account 24 hours/day
• schedule online loan payments,
account transfers, etc.
FREE 24HR Phone Banking
Importable statements into Quicken
*$.15 per item charge after first initial 50 debits or deposited items.
Advantage Business Checking
This business checking account is designed for the small business looking with moderate activity.
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.
Account Benefits:
FREE check safekeeping
FREE Instant Cash & Debit Card
*subject to qualifications
FREE ATM transactions at BSB locations
and select others. *contact BO
FREE Online Banking
• monitor account 24 hours/day
• schedule online loan payments,
account transfers, etc.
FREE 24HR Phone Banking
Importable statements into Quicken
NOW Business Checking
This business checking account is designed for accounts with large transaction volume, high balances and enhanced interest benefits and are sole proprietors
and / or non-profit.
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.
Statements: Complimentary ReadyImage statements provided.
Account Benefits:
FREE check safekeeping
FREE Instant Cash & Debit Card
*subject to qualifications
FREE ATM transactions at BSB locations
and select others. *contact BO
FREE Online Banking
• monitor account 24 hours/day
• schedule online loan payments,
account transfers, etc.
FREE 24HR Phone Banking
Importable statements into Quicken
Elite Business Checking
This business checking account is designed for accounts with large transaction volume, high balances, enhanced service benefits.
Minimum to open: $500
Monthly service charge: $35
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.
Account Benefits:
FREE check safekeeping
FREE Instant Cash & Debit Card
*subject to qualifications
FREE ATM transactions at BSB locations
and select others. *contact BO
FREE Online Banking
• monitor account 24 hours/day
• schedule online loan payments,
account transfers, etc.
FREE 24HR Phone Banking
Importable statements into Quicken
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.
Funds are FDIC insured:
As of July 21st, 2010, The permanent standard insurance amount is $250,000 per depositor.
"With this permanent increase of deposit insurance coverage to $250,000, depositors with CDs above $100,000 but below $250,000 will no longer have to worry about losing coverage on those CDs maturing beyond 2013. We strongly encourage all bank depositors who have questions about their insurance coverage to go to our Web site at www.fdic.gov and use our Electronic Deposit Insurance Estimator (EDIE) or call our toll-free number at 1-877-ASK-FDIC. Insured deposits provide the comfort and peace of mind to depositors that their money is 100 percent safe – provided they keep their deposit balances within the insurance limits," said FDIC Chairman Sheila C. Bair.
FDIC Guarantee Program:
As of December 19th, 2008, Border State Bank is participating in the FDIC’s Transaction Account Guaranty Program. Under this program, through December 31, 2010, all non-interest bearing transactions (including Border State Bank’s NOW checking account) are fully guaranteed by the FDIC for the entire amount in the account. Coverage under the Transaction Account Guaranty Program is in addition to and separate from the coverage available from the FDIC’s general deposit insurance rules.
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