© 2009 State Bank of New Prague. All Rights Reserved.
Business Checking Accounts
The right checking account is an asset to your business.
Whether you're a sole proprietor or a mid-sized business, a community group or a non-profit organization, we offer an account to help manage your cash flow.
All business checking accounts include free Online Banking and Bill pay, unlimited check-writing, and free telephone banking.
| DESCRIPTION |
SMALL BUSINESS
CHECKING
|
BUSINESS
CHECKING
|
NON PROFIT
CHECKING |
| Interest | None | None | Available: contact bank |
| Minimum Balance | $1,500 average balance | No minimum balance | No minimum balance |
| Features | Low per items charges1
Free Check images Monthly statement |
Free check images
Earnings credit2 Monthly analysis statements |
Unlimited direct deposits
No per item charge Free Check images Monthly statements |
| Monthly Fee | $5 if minimum balance is not maintained | ||
| Learn more | Learn more | Learn more | |
| Apply now |
Apply now |
Apply now |
BUSINESS CHECKING ACCOUNTS
Each business account is analyzed to accomodate the specific requirements of your business. An earnings credit is calculated based on the average monthly account balance. This earings credit is then used to offset the varioius activity costs associated with the account. If the earned credit does not exceed the activity costs, the net analysis fee is deducted from the next monthly statement.
The earnings credit is calculated on the average available account balance for the month using a variable interest rate. The available balance is the account's collected balance less 11.75% that the bank is required to maintain as a cash reserve, and therefore is not investible by the bank.
Activity costs are determined based on the following analysis schedule:
|
|
$7.00 $0.13 $0.20 $0.05 $0.09 $1.00 $0.10 $1.00 $0.06 $5.00 |
12% interest is charged on checks that are paid by the bank against balances in the account that are uncollected.
1 There is a $0.20 charge per item if you have 35 or more paid items or deposited items
2 An earnings credit is calculated based on the average positive available account balance. This earnings credit is then used to offset the various activity costs associated with the account. If the earned credit does not exceed the activity costs, the net analysis fee is deducted from the next monthly statement. The earnings credit is calculated on the average available account balance for the month using a variable interest rate. The available balance is the account’s collected balance less 11.75% that the bank is required to maintain as a cash reserve, and therefore can not be reinvested by the bank.
The State Bank of New Prague is a full-service community bank helping the
people and businesses of New Prague, Minnesota achieve financial success for over 125 years.
people and businesses of New Prague, Minnesota achieve financial success for over 125 years.
Member FDIC | Equal Housing Lender | © 2009 State Bank of New Prague. All Rights Reserved.
To help the government fight the funding of terrorism and money-laundering activities, Federal law requires all financial institutions to obtain, verify,
and record information that identifies each person who opens an account. What this means to you: when you open an account, we will ask for your name,
address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.
and record information that identifies each person who opens an account. What this means to you: when you open an account, we will ask for your name,
address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.