Business Checking

Small Business Checking

The Small Business Checking account is perfect for the small business customer who will not have a lot of monthly account activity.

Account Fees

  • NO monthly maintenance fee if a $1,000.00 minimum daily collected balance is maintained throughout the statement cycle.
  • If the balance drops below $1,000.00, a $7.50 fee will be charged
  • 50 free debit items-30 cents for each debit item over 50
  • NO charge for deposit items

Statement Charges

NO statement charge for imaged statements

Minimum Deposit to Open Account

$100.00 minimum opening deposit

Business Premier Checking

The Business Premier Checking Account is designed for the business customer who writes an average amount of checks and doesn't want to monitor the account minimum balance.

Account Fees

  • $7.50 monthly maintenance fee
  • 50 free debit items - 20 cents for each debit item over 50
  • NO charge for deposit items

Statement Charges

NO per statement charge for imaged statements

Minimum Deposit to Open Account

$100.00 minimum opening deposit

 

Business Analysis Checking

The Business Analysis Checking Account is designed for large transaction volume accounts.

Account Fees

  • $5.00 monthly maintenance fee
  • 10 cents per debit item
  • NO charge for on-us deposit items
  • 4 cents per foreign deposit item charge

Monthly Negative Collected Balance Charge

The greater of either 1% x (the negative collected balance for the month) or 1/12 ((the negative collected balance for the month) x (the National Prime Lending Rate as set out in the Central Edition of the Wall Street Journal on the last Tuesday of the preceding month + 6%)).

Statement Charges

NO statement charge for imaged statements

Monthly Earnings Credit

1/12 ((90% of average collected balance for the month) x (the 90 day Treasury Bill yield on the last Tuesday of the preceding month)).

Only when the activity charge is greater than the earnings credit will there be a service charge to the account.

Minimum Deposit to Open Account

$100.00 minimum opening deposit

 

Business Interest Checking (NOW) (Proprietorships only)

The Business Interest Checking Account is designed for the business customer who wants interest on their money and the flexibility to write checks.

Interest Rate

The interest rates and annual percentage yields on this type of account will be based on the following balance levels:

  • Level 1 $0-$999.99
  • Level 2 $1,000.00-$9,999.99
  • Level 3 $10,000 - $24,999.99
  • Level 4 $25,000 +

The rates and yields will be disclosed by posting in the lobby of the bank and will change at the discretion of the bank from time to time. The initial interest rate will be disclosed when the account is opened.

Balance Computation Method

The daily balance method is used to calculate the interest on this account. This method applies a daily periodic rate to the daily collected balance.

Compounding and Crediting

Interest will be credited at the end of the monthly statement cycle and will be compounded monthly. An account closed before interest is credited will not receive accrued interest that has not yet been credited to the account. Interest begins to accrue no later than the business day the bank receives credit for the deposit of non-cash items.

Account Fees

NO monthly maintenance fee or per debit item charge if a $700.00 minimum daily collected balance is maintained throughout the statement cycle. If the balance drops below $700.00, the following fees will apply:

  • $7.50 per month maintenance fee
  • 30 free debit items-30 cents for each debit item over 30

Statement Charges

NO statement charge for imaged statements

Minimum Deposit to Open Account

$100.00 minimum opening deposit

All accounts and certificates of deposit are subject to the bank's Deposit Account Agreement and Disclosure in effect. There may be additional charges and fees for services, as set forth in our Schedule of Service Charges and Fees.

 

© American State Bank & Trust Company 2013. All Rights Reserved. No part of this website or any of its contents may be reproduced, copied, modified or adapted, without the prior written consent of American State Bank & Trust Company, unless otherwise indicated for stand-alone materials.