Business Checking Accounts

Peoples Small Business Checking Account

This account is designed for the small business owner that does not have a large volume of deposits, ACH debits and credits, wire transfers or writes a large number of checks each month.

  • The minimum opening balance is $100.00.
  • The monthly service charge is $0.75 plus $0.15 for each check that is paid. 
  • There is a $0.10 charge for each check that is deposited. 
  • An earnings credit of $0.15 per $100.00 of the minimum balance is applied against the monthly service charge.
  • Statements are normally issued as of the end of the month, unless otherwise requested. 
  • Electronic Check Images are returned with your statement.
  • Free Online Banking.

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Peoples Commercial Checking Account

This account is designed for businesses with a large number of deposits or checks written each month.

  • The minimum opening balance is $100.00
  • The monthly maintenance fee is $5.00 plus $0.10 for each credit, check paid or ACH debit.
  • There is a $0.07 charge for each check deposited that is drawn on a bank other than the Peoples State Bank.
  • The charge for each check deposited drawn on this bank is $0.04.
  • There is no charge for a returned check that has been deposited, or a re-deposited return item.
  • The Wire Transfer charge for funds wired out of the bank is $12.00. There is no charge for incoming wires.
  • The charge for ACH credits is $0.04 each.
  • The schedule of other charges is detailed elsewhere on this brochure.
  • An earnings credit, based on the average monthly balance, less 10% for reserve requirements, will be applied against the monthly service charge.
  • Cash management services are negotiated on an account by account basis, depending on the cash services used by the customer.
  • Monthly statements are normally issued as of the end of the month, unless otherwise requested.
  • Electronic Check Images are returned with your monthly statement.
  • Free Online Banking.

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Peoples Business Sweep Cash Management Account

This account is designed to enable businesses to earn a higher rate on their excess funds in their checking account, over and above the amount needed to cover their monthly activity charges. An analysis is made of the checking account to determine the minimum balance required in that account to cover activity and the excess is transferred daily to or from the Business Sweep account to maintain that balance.

  • There is a $5.00 per month fee for the Business Sweep account or $10.00 per month if notices are mailed regarding each transaction. 
  • Free Online Banking.

 

BUSINESS SWEEP SAVINGS

Rates effective as of March 17, 2017 and subject to change without notice.
BALANCEINTERESTANNUAL PERCENTAGE YIELD (APY) )
Under $5,000.000.01%0.01%
$5,000.01 - $15,000.000.05%0.05%
$15.000.01 - $30,000.000.10%0.10%
30,000.01 - $100,000.000.25%0.25%
$100,000.01 - $250,000.000.35%0.35%
Over $250,000.000.40%0.40%

 

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OTHER FEES

Stop Payment$30.00 per item
Non-sufficient Funds$30.00 per item
Statement Research$15.00 per hour / $1.00 per copy
Dormant Accounts
(Assessed after 3 years of no activity)
$3.00 per month
Overdraft not cleared within 5 days$5.00 per day
ATM transaction on non-Peoples State Bank ATM's$1.00 per transaction
Reprinted Statements$3.00 per copy
Cashier's Check$4.00
Money Orders
(Maximum Money-Order $500.00)
$2.50
Domestic Wire Transfer$15.00
International Wire Transfer$50.00
Duplicate ATM Card or Pin Number$2.50 per card
Research$15.00 per hour and $1.00 per page
Duplicate ATM Card$2.50 per card
Foreign ATM Fee$1.00 per transaction
Dormant Account (assessed after 3 years of no activity)$3.00 per month
Current Activity Print Out$1.00 per copy
Telephone Transfers$5.00 per transaction
Drawstring Bags$2.00
Zipper Bags$3.00
Lock Bags (with two night deposit keys)$20.00
Night Deposit Key$2.00 each

 

 

 

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