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Business Banking
By providing a variety of services for your business, Preferred
Bank is ready to assist you with your business needs.
Business Checking - Low Volume
- $1,000 to open
- $10 monthly service charge
- $0.20 per check
- $2,000 average collected balance to avoid a service charge and
per check charge
- Unlimited check writing
Business Checking - Analyzed
This account rewards businesses that maintain a deposit relationship
with high volume transactions with an earnings credit to offset
the cost of other products/services such as courier service,
outgoing wires, etc.
Business Money Market
- $2,500 to open
- $10 monthly service charge
- $2,500 average collected balance to avoid a service charge
- Limited to no more than six transfers and/or withdrawals to
another account or to a third party, and no more than three of the
transfers can be by check or telephone
- $10 excessive use fee for each transaction above the limitation
Business Money Market Trust
- $100,000 to open
- $10 monthly service charge
- $100,000 average collected balance to avoid a service charge
- Limited to no more than six transfers and/or withdrawals to
another account or to a third party, and no more than 3 of the
transfers can be by check or telephone
- $10 excessive use fee for each transaction above the limitation
Business Savings
- $200 to open
- $3 monthly service charge
- $200 average collected balance to avoid a service charge
- Limited to three withdrawals per cycle
- $1 excessive use fee for each transaction above the limitation
Preferred Savings
- $500,000 to open
- Limited to three withdrawals per cycle
- $10 excessive use fee for each transaction above the limitation
- Reserve the right to require at least fourteen days written
notice
Fed Funds Investment Savings
- $100,000 to open
- Tiered rates
- $1 million maximum balance
- Must have a non-interest bearing DDA with
average balance of $100,000
- Limited to six transfers/withdrawals per
statement
- $15 excessive use fee for each transaction above the limitation
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Reserve the right to require seven days written notice
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