Business Checking

Business Checking is a simple, easy to understand checking account specifically designed for smaller businesses. This product was developed to be among the most aggressive accounts in the marketplace. This account is especially attractive for smaller businesses who are seeking a simple account that avoids analysis based charges, and complicated fee structures. Business Checking includes the following features:

• Simple pricing schedule, no analysis statement to reconcile
• Free imaged statements, including serial sort of all checks written
• Low $100 balance required to open the account
• No minimum balance required to keep the account open
• Numerous check design/logo options
• 24-Hour Internet and Telephone Easy Access to obtain balance, deposit or check information

Features

• $10 monthly service charge
• Eligibility for Business/Corporation
• Non-interest bearing*
• 200 free items¹
• Overdraft/Sweep available²
• Check Images returned with statement
• Armored Car Service available³
• MC/Visa Merchant Services
• May be linked to Business Resource Management account to maximize yield
• Courier Service available in select areas
• Free Telephone Banking
• Free Internet Banking and Bill Pay⁴

Notes

• Minimum to open: $100.
• Minimum to avoid fee: $5,000.

1. 20 cents per item after 200
2. $5 per sweep
3. Prices vary with market
4. No setup or monthly charge. Optional Bill Pay service free of charge.

Plus, as a Business Checking account holder, you are entitled to several other banking services, which are readily available subject to an additional charge and credit approval. These include:

• Armored Car Delivery
• Lock Box Payment Processing
• Automated Clearing House (ACH) Services
• Night Drop Services
• Visa Merchant Services

Sounds Impressive, but How Much Will This Cost?

Intended specifically for smaller activity account holders, this account includes a $10 monthly maintenance fee, which is automatically waived with a $5,000 monthly daily balance. This monthly fee entitles the account holder to process up to 200 items per month at no additional charge. For our purposes, an item shall include a check written, check deposited, or an ACH in clearing item. For heavier users whose activity exceeds 200 per month, a reasonable fee of $.20 per item in excess of 200 will be assessed. Therefore, if a business maintains a $5,000 account balance and processes less than 200 checks per month, this account is free from activity-based charges.

I'm already paying monthly service charges. How do your costs compare?

The easiest way to compare accounts is to meet with your nearest Peoples First commercial account representative. Most all banks use an analysis-based system to price their commercial account services. To compare price, simply review your last statements. If your monthly average balance was in excess of $5,000, your $10 fee would be automatically waived. Then, determine the number of checks processed during the month (deposited and written), and the number of ACH in clearings. We provide the first 200 free, so if this number exceeds 200, simply multiply the difference by $.20.

Your total monthly activity charge would be the $l0 maintenance fee (unless waived based on a $5,000 balance), plus any per item charges. Please also keep in mind that these are activity based charges only. Items such ACH origination's, returned check charges, and NSF fees are assessed separately. If your business processes more than 200 items per month, you should also compare charges based on our Business analyzed checking account.

This sounds interesting, how do I get started?

Establishing a Business Checking account with Peoples First is easy. Simply call the nearest banking center for an appointment or stop by at your earliest convenience. We will ask you a few questions about your business in order to customize your account (type of check, color, starting number, special logos etc.) to your unique specifications. To open the account, we need to collect a copy of your company's articles of Incorporation and will need its Federal Tax Identification number. We will then fill out a Corporate Resolution of Authority to establish each signers' authority over transactions made through the account. Please keep in mind that on all accounts, including Business Checking, information is subject to verification through ChexSystems.