Business Checking Accounts
Peoples Free Business Checking Account
This account is designed for the small business owner that does not have a large volume of deposits, ACH debits and credits, wire transfers or writes a large number of checks each month.
- The minimum opening balance is $100.00.
- There is no monthly maintenance cost and no minimum balance is required.
- There is no cost for the first 250 items per monthly statement cycle. An activity cost of $0.40 will be applied per excess item over 250.
- Items include debits, credits, and deposited checks. Business debit card transactions and ACH transactions are not counted toward the excess item limit.
- Statements are normally issued as of the end of the month, unless otherwise requested.
- Electronic Check Images are returned with your statement.
- Free Online Banking.
Peoples Business Checking Account
This account is designed for the small business owner that does not have a large volume of deposits or transactions each month, but a higher volume than the Free Business Checking Account accommodates.
- The minimum opening balance is $100.00.
- There is a monthly maintenance charge of $10.00 and a $5,000.00 minimum daily balance is required.
- There is no cost for the first 500 items per monthly statement cycle. An activity cost of $0.20 will be applied per excess item over 500.
- Items include debits, credits, and deposited checks. Business debit card transactions and ACH transactions are not counted toward the excess item limit.
- Statements are normally issued as of the end of the month, unless otherwise requested.
- Electronic Check Images are returned with your statement.
- Free Online Banking.
Peoples Commercial Checking Account
This account is designed for businesses with a large number of deposits or transactions each month.
- The minimum opening balance is $100.00
- The monthly maintenance fee is $5.00 plus $0.10 for each credit, check paid or ACH debit.
- There is a $0.07 charge for each check deposited that is drawn on a bank other than the Peoples State Bank.
- The charge for each check deposited drawn on this bank is $0.04.
- There is no charge for a returned check that has been deposited, or a re-deposited return item.
- The Wire Transfer charge for funds wired out of the bank is $12.00. There is no charge for incoming wires.
- The charge for ACH credits is $0.04 each.
- An earnings credit, based on the average monthly balance, less 10% for reserve requirements, will be applied against the monthly service charge.
- Cash management services are negotiated on an account by account basis, depending on the cash services used by the customer.
- Monthly statements are normally issued as of the end of the month, unless otherwise requested.
- Electronic Check Images are returned with your monthly statement.
- There is a $10.00 per month fee for Business Online Banking.
Peoples Business Sweep Cash Management Account
This account is designed to enable businesses to earn a higher rate on their excess funds in their checking account, over and above the amount needed to cover their monthly activity charges. An analysis is made of the checking account to determine the minimum balance required in that account to cover activity and the excess is transferred daily to or from the Business Sweep account to maintain that balance.
- The minimum balance in the savings account is $5,000.00.
- There is a $5.00 per month fee for the Business Sweep account or $10.00 per month if notices are mailed regarding each transaction.
- Free Online Banking.
BUSINESS SWEEP SAVINGS
Rates effective as of November 8, 2024 and subject to change without notice.| BALANCE | INTEREST | ANNUAL PERCENTAGE YIELD (APY) ) |
|---|---|---|
| Under $5,000.00 | 0.01% | 0.01% |
| $5,000.01 - $15,000.00 | 0.03% | 0.03% |
| $15.000.01 - $30,000.00 | 0.05% | 0.05% |
| 30,000.01 - $100,000.00 | 0.75% | 0.75% |
| $100,000.01 - $250,000.00 | 1.49% | 1.50% |
| Over $250,000.00 | 2.47% | 2.50% |
OTHER FEES
| Non-sufficient Funds | $30.00 per item |
| Stop Payment | $30.00 per item |
| Statement Research | $15.00 per hour / $1.00 per copy |
| Dormant Accounts (Assessed after 3 years of no activity) | $3.00 per month |
| Overdraft not cleared within 5 days | $5.00 per day |
| ATM transaction on non-Peoples State Bank ATM's | $1.00 per transaction |
| Reprinted Statements | $3.00 per copy |
| Cashier's Check | $4.00 |
| Money Orders (Maximum Money-Order $500.00) | $2.50 |
| Domestic Wire Transfer | $15.00 |
| International Wire Transfer | $50.00 |
| Duplicate ATM Card or Pin Number | $2.50 per card |
| Research | $15.00 per hour and $1.00 per page |
| Duplicate ATM Card | $2.50 per card |
| Foreign ATM Fee | $1.00 per transaction |
| Dormant Account (assessed after 3 years of no activity) | $3.00 per month |
| Current Activity Print Out | $1.00 per copy |
| Telephone Transfers | $5.00 per transaction |
| Drawstring Bags | $2.00 |
| Zipper Bags | $3.00 |
| Lock Bags (with two night deposit keys) | $20.00 |
| Night Deposit Key | $2.00 each |
| Debit Card Replacement | $5.00 |
Available to All Business Accounts
- Credit Card Merchant Services
- We can assist you in accepting credit card payments from your customers. Our services are able to accept Visa, MasterCard, American Express, and Discover, in addition to ATM and Debit cards. Funds are direct deposited into your checking account on a daily basis. We have one of the most reliable and economical plans on the market.
- A Visa Business Debit Card where you can have access to your money 24/7. Organize your business by getting additional Visa Debit Cards for your employees at no extra cost to you.
- Access to our Retail Online and Business Online internet banking service.
- Business customers can choose from a variety of Visa credit cards to meet their specific needs. Take advantage of our comprehensive card offerings.
