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Business
Accounts - Checking
Small Business Checking Account
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| Best
For |
For Businesses, Organizations, government agencies, business associations, sole proprietors, security deposits, escrow funds, trusts and other fiduciary accounts, public funds, pension funds and non-profit organizations operating for religious, charitable, educational or similar purposes. |
| Features |
 | Minimum deposit of $100.00 to open this account. |
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A
service fee of $5.00 will be charged each monthly statement
period unless a minimum ledger balance of $1,000.00 is
maintained during that statement period. $.15 per additional
transaction over 50 will be charged each monthly statement
period regardless of balance. Transactions consist of
checks and deposits. |
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Monthly
statement and check images are provided.
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Regular
Business Checking Account
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| Best
For |
For
businesses, organizations, government agencies, business
associations, sole proprietors, security deposits, escrow
funds, trust and other fiduciary accounts, public funds,
pension funds and non-profit organizations operating for
religious, charitable, educational or similar purposes. |
| Features |
|
Minimum
deposit of $100.00 to open this account. |
|
A
service fee of $6.00 will be charged each monthly statement
unless a minimum ledger balance of $2,000.00 is maintained
during that statement period. |
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75
free transactions with minimum balance of $0.00 to 1,999.99 |
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150
free transactions with minimum balance of $2,000.000
to 3,999.999 |
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300
free transactions with minimum balance of $4,000.00 to
5,999.99 |
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Unlimited transactions with minimum balance of $6,000.00 and above |
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$.20
per additional transaction (Transactions
consist of checks and deposits) |
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Monthly
statement and check images are provided |
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Business Interest Checking Account
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| Best
For |
For sole proprietors security deposits, escrow funds, trusts and other fiduciary accounts, public funds, pension funds, and non-profit organizations operating for religious, charitable, educational or similar purposes. Not available to unincorporated nonbusiness associations as defined by regulation DD. |
| Features |
| Minimum deposit of $100.00 to open this account. |
| As service fee of $6.00 will be charged each monthly statement period unless a minimum ledger balance of $4,000.00 is maintained during that statement period. |
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75
free transactions with minimum balance of $0.00 to
3,999.99 |
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150
free transactions with minimum balance of $4,000.00
to 5,999.999 |
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300 free transactions with minimum balance of $6,000.00 to 7,999.99 |
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Unlimited
transactions with minimum balance of $8,000.00 and
above |
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$.20 per additional transaction Transactions
consist of checks and deposits) |
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Interest
rates are variable and determined daily at Bank’s discretion
for balances $1000.00 and over. |
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Variable
interest will be calculated using the simple method based
on the daily collected balance and credited monthly |
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Monthly
statement and check images are provided |
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Business
Analysis/
Public Fund Now
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| Best
For |
For businesses, organizations, government agencies, business associations, sole proprietors, security deposits, escrow funds, trusts and other fiduciary accounts, public funds, pension funds and non-profit organizations operating for religious, charitable, educational or similar purposes on “account analysis” not available to unincorporated nonbusiness associations as defined by regulation DD. |
| Features |
| Minimum deposit of $100.00 to open this account. |
| See account analysis price list of the fee structure and chargeable items applicable to this account. |
| Interest rates are variable and determined daily at Banks discretion for balances of $1,000.00 and over. |
| Variable
interest will be calculated using the simple method
based on the daily collected balance and credited monthly |
|
Monthly
statement and check images are provided. |
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| Commercial
Account Analysis Fee Schedule |
| Account Maintenance |
$10.00 per month |
| Checks and Other Debits |
$.13 |
| Checks Deposited on Other Bank |
$.08 |
| Checks Deposited (on US) |
$.02 |
| Deposits |
$.25 each |
| Return Deposit Items |
$2.50 |
| Stop Payments |
$5.00 |
| Deposit Corrections |
$2.00 |
Wire Transfers: |
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| - Incoming |
$3.00 |
| - Outgoing |
$10.00 |
| Currency Service |
$.20 per pack |
| Coin Service |
$.05 per roll |
| Research Account |
$10.00 per hour |
| Transfers |
$2.00 |
| Special Statements |
$5.00 |
| Serial Sorting |
$.05 |
| Night Deposit Service |
$25.00 |
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Low Volume Food Stamps |
$10.00 |
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High Volume Food Stamps |
$50.00 |
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FDIC Insurance Assessment |
$.00 |
The Earnings Credit is variable and determined monthly at Banks discretion. The Earnings Credit is applied to the average investable balance and utilized to offset monthly service, transaction, and miscellaneous fees.
Additional fees may apply. |
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| Account Analysis |
Boone County Bank uses an Account Analysis Process in calculating service charges on checking accounts for commercial customers. Account Analysis recognizes that the cost of services provided by the Bank may be paid for in balances, in fees, or in a combination of balances and fees. The following explains the analysis process.
Each month, an analysis of the account is made to determine whether the balance maintained is sufficient to pay for the service provided. There are three components in the analysis: the account balance, and earnings allowance, and bank serviced rendered.
The example below demonstrates how the account balance and the earnings allowance are involved in the analysis procedure. In essence, you are given credit for the Bank’s potential income from the use of funds in your account. The earning allowance, or credit amount, is then considered as full or partial payment for the services you use. |
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| Analysis Charges |
After the earnings allowance is calculated, per item analysis charges are applied to the different activity in the account, including (but not limited to) the number of checks paid, number of deposits, number of deposited items, and monthly account maintenance. A schedule of the current commercial checking account prices is available on request.
If the earnings allowance for a month is greater than the total of the analysis charges, no service charge is due. If the account analysis charges are greater than the earnings allowance, the difference is charged to the account.
The account analysis process gives you credit for the funds you keep on deposit. By keeping balances sufficient to support your account activity, you may avoid service charges. |
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| Direct Charges |
| For services which are not typically a part of the day-to-day activity on an account, a direct charge may be applied. Examples of such services include returned checks and overdrafts. Direct charges are generally not included in the monthly account analysis process. |
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