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BANK OF ZUMBROTA OFFERS 3 DIFFERENT BUSINESS CHECKING OPTIONS:
BUSINESS CHECKING: First 100 debit items* at NO CHARGE, then $0.15 per debit item during the statement cycleFirst 100 checks deposited at NO CHARGE, then $0.15 per check deposited during the statement cycle$5.00 monthly service charge if a minimum balance each day of $1,000 is not maintained
COMMERCIAL CHECKING: $0.15 per debit item* during the statement cycle$0.05 for each on-us check deposited (On-us checks are checks drawn on Bank of Zumbrota)$0.08 for each not-on-us check deposited (Not-on-us checks are checks drawn on other banks)$9.00 monthly service chargeBank of Zumbrota pays the account $0.10 for every $100 available balance to offset the chargesExample: If the collected balance is $100,000, the account will be paid up to $100 to offset the charges.
INTEREST BUSINESS CHECKING: Only Non-Profits, Public Funds, and Sole Proprietors qualify for this account.First 100 debit items* at NO CHARGE, then $0.15 per debit item during the statement cycleFirst 100 checks deposited at NO CHARGE, then $0.15 per check deposited during the statement cycle$7.00 monthly service charge if a minimum balance each day of $2,500 is not maintainedInterest is compounded and paid monthly
* A debit item includes any withdrawal, check paid, ACH, debit card transaction, or any other type of payment out of the account, except internal transfers and payments.
ALL BUSINESS CHECKING ACCOUNTS ALSO HAVE THE FOLLOWING FEATURES/OPTIONS: Monthly statementsAutomated payrollNight dropBank by mailOnline bankingOnline check re-orderingCredit card acceptance servicesAs always, your business checking account is insured by the FDIC.
Important Information About Procedures for Opening A New Account At Bank of Zumbrota
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 for 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.