Business Banking

 

Business Checking

  • $100.00 required to open a commercial checking account
  • Monthly service charge based on minimum statement cycle balance and activity posted
  • Free Internet Banking

Monthly Minimum Balance

Monthly Service Charge

$3,000.00 - Above

No charge

$2999.99 - Below

$10.00

Activity Charge based on minimum statement cycle balance

 $25,000.00 - Above

No per check charge 

$24,999.99 - Below 

$ 0.15 per check after 100th check 

Business NOW Account

  • $3,000.00 required to open a Business NOW Account
  • Not available for Corporate Accounts
  • Monthly service charge based on minimum statement cycle balance. Balances below $3,000.00 are charged $15.00 per month
  • Interest will be forfeited for the number of days your balance is below $3,000.00
  • After 50th check posts on each statement cycle, a fee of $.15 per check will apply
  • Free Internet Banking

Business Money Market Account

  • $5,000.00 required to open
  • Below $25,000 a service charge of $15.00 per month
  • Interest will be forfeited for the number of days your balance is below $1,500.00
  • A $20.00 per item fee after 6 withdrawals
  • Call for current interest rate

Business CDs

  • $500.00 required to open
  • Terms are 6, 12, 24, 36, and 60 months
  • Contact Bank of Erath for current rates.

Business Savings Passbook

  • $100.00 required to open account
  • 3 free withdrawals per quarter
  • $1.00 charge per withdrawal over three
  • Direct deposit available
  • $35.00 charge if account closed before 90 days
  • Duplicate book $5.00 charge
  • $500.00 BALANCE AND OVER NO CHARGE AND NO WITHDRAWAL CHARGE
  • $300.00 - $499.99 $2.00 per quarter
  • $0.00 - $299.99 $3.00 per quarter
  • NO SERVICE CHARGE FOR MINORS

Business Christmas Club Savings

  • $1.00 required to open
  • Plans provide $250, $500, and $1,000
  • An open plan provides $1.00 and up to your choice amount for your Christmas needs
  • Monthly payments can be deducted from your checking account
  • One withdrawal per year to close account

 

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