Checking Accounts
Park Bank offers a full range of checking products to best match the needs of your business.
|
Account Name |
Reserve Checking |
Business Checking |
Business NOW |
Small Business Checking |
Small Business Checking Suite |
|
Ideal for |
Businesses with low volume transactions |
Businesses with high volume and high balances that could benefit from an earnings credit |
Sole proprietorship and larger not-for-profit organizations |
A small business with moderate transactions and prefers the option to select services needed |
A small business with lower transactions that find à la carte services to be cost prohibitive |
|
Minimum opening balance |
$100 |
$100 |
$100 |
$100 |
$100 |
|
Minimum balance requirements to avoid service charge |
$5,000 |
$0 |
$0 |
$3,000 |
N/A |
|
Monthly service charge |
$15 |
$20 | $20 | $10 | $35 |
|
Free transactions per month |
100 | N/A | N/A | 350 | 150 |
|
Fees (all fees are per item unless otherwise stated) |
For transactions over 100 = $0.50
Monthly paper statement = $5.00 |
Checks written = $0.27
Internal debit and credit = $0.75 Deposit charge = $0.85 Item charge = $0.14 Monthly paper statement = $5.00 |
Checks written = $0.27
Internal debit and credit = $0.75 Deposit charge = $0.85 Item charge = $0.14 Monthly paper statement = $5.00 |
For transactions over 350 = $0.50
Monthly paper statement = $5.00 |
For transactions over 150 = $0.50
Monthly paper statement = $5.00 |
|
Earnings Credit |
No | Yes | No | No | No |
|
Interest |
No | No | Yes | No | No |
|
Interest rate |
N/A | N/A | Set by bank; interest paid on daily collected balance; compounded monthly | N/A | N/A |
|
Interest rate tiers
|
N/A | N/A |
|
N/A | N/A |
|
Additional notes
|
Earnings credit is calculated on average collected monthly balance and applied to actual service charge | Service charge is activity based and is not directly offset against interest earned during the month | Suite includes multiple users for Business Online Banking, Bill Payment Module and includes ACH origination |