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An interest bearing account available to sole proprietorships, security deposits, escrow funds, trusts and other fiduciary accounts, public funds and nonprofit organizations operating for religious, charitable, educational or similar purposes.
Our Business Checking with Interest Account is similar to our Business Checking Account but earns interest on all collected balances maintained in the account instead of receiving credit to offset service fees. Interest is credited and compounded monthly based on the daily collected balance in the account and on the number of calendar days in the year.
The Advantages
Account Reconciliation: You’ll receive a monthly statement listing all deposits and paid check items. The statement will list all paid check items in sequential order. This makes your account reconciliation process quick and easy.
Proof of Payment: Each month your paid check items are returned with your monthly statement.
Earnings Interest: Your account earns a market rate of interest on the collected deposit balances maintained in your account. This maximizes the use of your account balances.
FDIC Insurance: Protects each depositor up to $100,000.
How it Works
1. Deposit and Withdraw Money: Funds collected from customers are deposited to your account as collected and payments may be made to a third party by check.
2. Monthly Statement of Activity: Each month you’ll receive a statement of activity. The statement will include a list of all deposits made, sequentially ordered paid checks and the actual canceled checks for the month.
3. Earn Interest: Interest is credited and compounded monthly based on the daily collected balance on the account and on the number of calendar days in the year.
Contact a Cash Manager
Return to Disbursement
Positive Pay
Direct Deposit
Corporate Totals
Zero Balance Account
Business Checking Account
Business Checking With Interest
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