Commercial Checking
Flexible business checking for higher transaction volumes
Commercial Checking is designed for businesses with more complex banking needs and higher account activity. With an earnings credit that can help offset the monthly maintenance fee, this account offers flexibility for businesses looking to manage larger transaction volumes and digital banking tools that make it easier to manage your business finances.
Is This Account Right for You?
Commercial Checking may be a good fit if you
- Process a high volume of business transactions each month
- Maintain higher account balances
- Need advanced business banking tools and connectivity with accounting software
Benefits & Features
Benefits
- Offset monthly maintenance fee through an earnings credit based on your average monthly balance
- Support your growing business with an account designed for businesses with higher transaction activity
- Manage your finances efficiently with convenient digital banking tools
Features
- Monthly earnings credit based on your average balance 1
- No minimum balance
- $10 monthly maintenance fee, balances may be used to offset fee
- Transaction fees: $0.20 each for all deposits and withdrawals; $0.10 for all deposited items
- QuickBooks® connectivity with Business Digital Banking or Quicken® connectivity with Online Banking
- Online Banking and Mobile Banking through Business Digital Banking
Why First National Bank?
Your business deserves a banking partner that understands your operations and goals. At First National Bank, you'll work with experienced local bankers who provide responsive service, practical financial solutions, and the technology to help you manage your business with confidence. Whether your business is expanding or your banking needs are becoming more complex, we're here to support your success.
Ready to Get Started?
Talk with one of our bankers to learn more about Commercial Checking and whether it's the right fit for your business.
1 The monthly earnings credit is based on your Commercial Checking account's average balance during the statement cycle and is applied to eligible monthly service charges. Earnings Credit: The earnings credit on the Commercial Checking account is based on the average 91-day Treasury Bill rate for the current month. It is calculated based on the average "collected" balance, less a 10.00% reserve requirement. ["Uncollected" balances will be charged the 91-day Treasury Bill rate, plus 3.00%. This situation applies only when the average account balance is very low.]
Earnings Credit Calculation Example: For the purposes of this example, the assumption is that the T-Bill Rate is 0.80%, the average balance maintained on the Commercial Checking account for the month was $200,000, and there were 31 days in the monthly cycle.
Multiply the $200,000 (average account balance) x 90% (to exclude the 10.00% reserve). Take that amount and multiple it by .008 (T-Bill rate). That provides you with an annual amount of earnings of $1,440.00. To determine the monthly earned credit, divide the annual amount by 365 days in a year and multiple it times the number of days in that particular month (31 days). Your monthly earned credit would be $122.30. [$200,000 x 90% x .008/365 x 31 = $122.30]
