BusinessFirst Checking
The BusinessFirst Checking Account provides unlimited check writing privileges with fees offset by earnings credits. It is an ideal account for limited liability companies, limited partnerships, partnerships, sole proprietorships, S corporations, and C corporations.
Earnings and Service Charges
BusinessFirst Checking Accounts are analyzed monthly to determine the earnings allowance using the daily balance after deductions of float and legal reserve requirements. Credit will be given on these daily investable balances and will be discretionary based on the 91-day Treasury Bill rate. Average negative available balances will be assessed charges at The Wall Street Journal prime rate plus two percentage points.
Charges Offset by Earnings Credit Allowance
The following charges are offset by earnings allowance for businesses with imaged or CD statements:
Monthly Maintenance | $10.00 |
Checks Written | $0.10 |
ATM Debits | $0.10 |
Electronic Funds Transfer Debit | $0.10 |
Deposited On Us Items | $0.027 |
Deposited Twin City/Federal Gov't Items | $0.042 |
Deposited Out of Town Items | $0.075 |
Returned Item Fee | $3.00 per item |
Re-deposit of Returned Item Fee | $1.00 per item |
Coin and Currency Deposited | $0.75 per thousand |
Coin and Currency Withdrawn | $0.75 per thousand |
Canadian Check Processing Fee | $10.00 per check + exchange fee |
For BusinessFirst Checking Accounts we will charge a Balance Assessment monthly. The rate is subject to change and is based on the rate the FDIC charges us. The fee will be calculated by applying a monthly FDIC factor to each $100.00 of average daily balance in your account during the monthly statement cycle.
Fees and Charges
The following fees and charges may be assessed against your account:
NSF Return Fee or NSF Paid Fee* | $30.00 per item |
Per Day Maximum | $300.00 |
Overdraft Charge (Recurring) | $30.00 each seven consecutive days |
Stop Pay Charge | $30.00 per request |
Returned Item Fee | $3.00 per item |
Re-deposit of Returned Item Fee | $1.00 per item |
Dormant Account Fee | $5.00 per month |
Returned Mail Fee | $5.00 per month |
Check Copy Fee | $3.00 per copy |
Wire Transfer Fee | $20.00 |
International Wire Transfer Fee | $50.00 |
Collection Fee | $20.00 per item |
Canadian Check Processing | $10.00 per check + exchange fee |
NOTE: We may report other information about your account to consumer reporting agencies. Late payments, missed payments, or other defaults on your account may be reflected in your consumer report.
