Checking

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account_analysis_checking_title

As Federal regulations prohibit paying interest on corporation or partnership checking accounts, with Account Analysis Checking your average collected balance in the account during a statement cycle generates an “Earnings Credit”. The earnings credit can be used to offset the monthly activity charges. Earnings credit is computed on the average collected balance less 10% reserve requirement. The earnings credit rate is variable and indexed from the prior month’s Treasury Bill rates.

business_checking_products_comparison_chart

Basic
Business

Regular Business Checking

Commercial Super
NOW Checking

Designed For:

 

Small business with low balance and minimal activity

Mid to large business with heavy account activity

Only available to sole-proprietors, non-profits, and government entities

Minimum Requirements

 

No monthly balance

 

$100 daily collected balance

$1000 daily collected balance

*waived for documented
non-profits

Maintenance Fees

 

No monthly fees

 

If balance falls
below minimum
requirement,
then $6 monthly fee

*waived for documented non-profits

If balance falls
below minimum
requirement,
then $8 monthly fee

*waived for documented non-profits

Per Item Fees

 

Monthly per debit item fees:

First 150 debits are free; then $.10 per item

Deposited items fee:

First 100 deposited items are free; then $.10 per item

Monthly per debit
item fees:

Less than $100 daily collected balance - First 20 debits are free; then $.10 per debit.
$100 daily collected balance - First 30 debits are free; then $.10 per debit
$500 daily collected balance

Monthly per debit
item fees:

First 20 debits are
free; then $.25 per
item

*waived for documented non-profits

Features

 

Monthly e-statement with check images; basic online banking

$5 monthly fee for paper statement

Monthly e-statement
with check images;
basic online banking

$5 monthly fee for paper statements

Competitive variable interest rate paid on all balances;


Monthly e-statement with check images; basic online banking

$5 monthly fee for paper statement

repurchase_title

Our Investment Sweep Account is designed to provide a higher rate of interest on excess funds.

This account is a “repurchase agreement” which is not FDIC insured, but instead protected, or collateralized, by U.S. Government securities owned by Gateway State Bank. Available balances in excess of the target balance are calculated each day and automatically invested. The target balance in checking is not interest bearing, but can be used to offset service fees.

Use of the Repurchase Investment Sweep Account will provide you the benefit of (1) allowing your commercial checking accounts to receive interest, which is not currently allowed under FDIC provisions (2) securing your account balances over $100,000 that do not qualify for the FDIC insurance by providing the collateralization program (3) having immediate access and full liquidity of invested balances for your operational cash flow needs.