Business Savings
Start building up your company's bottom line with this excellent savings account. With a low minimum balance requirement of only $200, it's easy to earn a competitive rate of return to start growing your savings without having to pay monthly fees.
Access your funds whenever you need it—FDIC insurance means you can relax knowing your funds are safe.
- Summary
If average daily collected balance stays above $200:
- Earn interest on entire collected balance*
- Monthly fee waived
Standard Benefits:
- 6 free withdrawals per month**
- $1 initial opening deposit requirement
- Free 24-hour telephone banking
- Various statement options available
- Free Online Banking
- FDIC insured
For interest bearing accounts: We reserve the right, at any time, to require not less than 7 days notice in writing before each withdrawal from an interest bearing account other than a time deposit, or from any other savings account as defined by Regulation D.
For your protection, it is the policy of First Banking Center to prohibit check cashing, or cash back deposits, on checks made payable directly to your business. These checks will be accepted for deposit only.
*Collected balance is cash in your account plus deposited checks that have been presented to the bank the check is drawn on and for which payment has actually been received by First Banking Center. We use the average daily balance method to calculate the interest on your account. The average daily balance is the sum of the balances in the account for each day in the period (month or statement cycle) divided by the number of days in the period.
**Federal regulations permit no more than six transfers and withdrawals by means of a preauthorized or automatic transfer, or telephone, or by check, draft, or debit card made by the depositor and payable to third parties or to another account of the depositor at the same institution.
- Fees
- Each withdrawal over 6 per month: $0.50
- $3 monthly fee
