FREE BUSINESS CHECKING ACCOUNTS No monthly service charge No minimum balance requirement No charge for checks cashed or deposited No charge for any debit or credit No charge for deposits
No matter how many checks your business writes or checks deposited…No Charge! *High Volume coin and currency deposits excluded; 1%/$1,000 handling fee.
BUSINESS PRIME INVESTMENT MONEY MARKET*
Earn preferred rates on larger balances while also having instant access to your money. Rates are variable and subject to change according to market conditions. Minimum opening balance $25,000. A $15 monthly fee is charged for balances that fall below $2,500. Free check imaging is also included with this account.
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BUSINESS STATEMENT SAVINGS*
Statement Savings offers savings account flexibility with the convenience of a periodic statement showing all deposits, withdrawals and interest earned. This statement may be combined with your monthly checking account statement. Interest will be compounded and paid quaterly. A minimum balance fee of $2 will be imposed each month, if the average daily balance for the month falls below $200.
Six (6) savings withdrawals are permitted each month. Additional withdrawals are .50 each.
*Transaction Limitations Required by Federal Regulations:
There is no limit to the number of in-person withdrawals that you may make. You are limited by federal regulations to a maximum of six (6) pre-authorized, automatic, or telephone transfers, of which not more than three (3) may be made by checks payable to a third party, within each monthly statement cycle.
FREE ONLINE BANKING
Palos Bank Online Banking will allow you to: Access current account information View current transactions View/print images of checks/front and back View/print account statements Transfer funds between your accounts at Palos Bank Schedule recurring transactions between accounts at Palos Bank Download transactions to your computer
BUSINESS ONLINE BILL PAY
Bill Pay allows businesses to pay suppliers; or schedule payments to be made in the future by accessing Palos Bank’s web page. There is a monthly fee of $5.95 a month and $0.40 per item exceeding the first 15 items (bills).
ONLINE CASH MANAGEMENT SERVICES
Our Online Cash Management services enable your business to originate ACH transactions and order wire transfers wherever you have internet access. From our secure site you can process direct-deposit payroll, consolidate cash balances, wire funds across the country, or make electronic federal tax payments. ACH module maintenance: | $30.00/month | Batch origination fee: | $ 5.00/batch | Batch transaction fee: | $ 0.15/entry | Returned item fee: | $ 5.00/item | Wire transfer module
(domestic only): | $20.00/month | Discounted outgoing domestic wires: | $10.00/wire | Initial setup and training: | $75.00 |
BUSINESS SWEEP CHECKING
A non-interest Business Checking Account with an automatic sweep feature; funds greater than the target balance are transferred into a linked Prime Investment Account. Monthly service fee: | $25.00
(Sweep Account) | Monthly service fee: | $10.00 (Zero Balance Account) |
FREE PERSONAL CHECKING ACCOUNTS FOR YOUR EMPLOYEES
To make banking easy and convenient for your employees, we offer a Free Checking Account for every employee. No minimum balance requirement, no monthly service charge, unlimited check writing and an easy-to-balance monthly statement without check images. A VISA® Debit Card is also available with this account.
BUSINESS TOUCH-TONE BANKING
24 Hour Touch-Tone Banking allows you immediate access to… Call (708) 448-9100, “Press 4”
MERCHANT PAYMENT PROCESSING
By becoming part of our Merchant Processing Program you can accept all major credit and debit cards. VISA MasterCard American Express Discover Diners
Utilizing a card swipe terminal and optional printer, you will receive a very low discount rate and sales will be deposited in 24 hours. Training and ongoing support is provided by our Card Services Department located at Palos Bank. Internet and software programs are also supported by the bank.
HEALTH SAVINGS ACCOUNT (HSA)
Palos Bank and Trust offers businesses a Health Savings Account (HSA) which is an interest Checking Account that is available to individuals who qualify with a high deductible health plan. A HSA enables the employee to pay current health expenses and save for future qualified medical expenses on a tax-free basis. Interest bearing Checking Account No minimum balance requirement No monthly fee, No set-up fee, No annual fee Free HSA check package of 50 duplicate checks and 20 deposit slips FREE HSA Visa Debit Card FREE Online Banking capabilities
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