COMMERCIAL ACCOUNT DISCLOSURES
Business Checking Accounts
Certain restrictions apply. Ask your customer service representative for more details. Minimum opening deposit is only $50. Bank rules and regulations apply. Other fees such as non-sufficient funds, overdraft, third-party data fees, etc. may apply. See fee schedule for details. Free gift may be reported on a 1099-INT or 1099-MISC. Free gift provided at the time of account opening. $10 for checks and debit cards from another financial institution given at the time the checks/debit cards are presented. Transaction items include all debits and credits. If the Simply Free Business or Simply Business Interest account exceeds 1,000 free monthly transactions, the account may be converted to another checking product. If the Simply Free Business or Simply Business Interest account exceeds $20,000 in monthly coin and currency deposits, the account may be converted to another checking product.
Business Savings Accounts
Certain restrictions apply. Ask your customer service representative for more details. Minimum opening deposit is only $50 for Simply Business Savings; $2,500 for Simply Commercial Money Market. To avoid a $10 monthly service charge on Simply Commercial Money Market, the account balance must not fall below $2,500 any day of the statement cycle. Bank rules and regulations apply. Other fees may apply and could reduce the earnings on the account. See fee schedule for details. If three (3) occurrences of excessive transactions happen within a rolling twelve-month period, the account will be changed to a non-interest-bearing account.
IMPORTANT INFORMATION ABOUT OPENING AN ACCOUNT
On September 11, 2001, our lives changed forever. In an effort to protect you and our country, the USA PATRIOT Act was signed into law. 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.
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 ask to see your driver’s license or other identifying documents.
We proudly support all efforts to protect and maintain the security of our customers and our country.