Business Checking Comparison Chart
Whether your business is well established or just starting out, you can manage the finances of your business with CorTrust Bank’s Business Checking Accounts. Choose the benefits and features that you will utilize the most to pick the business checking account that is the right fit for you.
|Basic Business||Interest Business||Analyzed Business|
|Minimum Opening Deposit||$100.00||$1000.00||$1000.00|
|Rate Information||N/A||Ask about a current rate sheet||The daily periodic earnings credit rate is equal to the 91-Day T Bill rate divided by 365.|
|Compounding and Crediting||N/A||Monthly||N/A|
|Minimum Balance to Avoid Fees and obtain annual percentage yield||N/A||A monthly service charge of $5.00 will be imposed every month if the balance in the account falls below $1000 any day of the month.||This account features an earnings credit, which is applied to reduce or eliminate fees. If the earnings credit exceeds the fees during the statement cycle, no fees charged against the account for that statement cycle. Excess earnings credit will not carry over to future statement cycles or be paid out.|
|Calculate Interest Earnings on Your Account||N/A||The daily balance computation method calculates the interest on your account. This method applies a daily periodic rate to the principal in the account each day.||The earnings credit is calculated by applying the daily periodic earnings credit rate to the principal in the account each day of the period. Earnings credit is calculated and applied against fees incurred for the monthly statement cycle.|
|Accrual of Interest or Earnings Credit on Non-Cash Deposits||N/A||Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (ie: checks.)||Earnings credit begins to accrue no later than the business day we receive credit for the deposit of non-cash items (ie: checks.)|
|Statement Design||Paper or Electronic||Paper or Electronic||Paper or Electronic|
$.10 charged for any debit paid in excess of 50 during a statement cycle.
$.10 will be charged for each deposited item in excess of 50 during a statement cycle.
|N/A||$5.00 Maintenance Fee
$.10 Per Debit
$.10 Per Credit
$.04 Local transit items deposited
$.08 Foreign transit items deposited
*Additional fees may apply for currency, coin bagged and rolled, incoming and outgoing wire transfers and account activity printouts.