Business Banking - Checkingbizbpmt321  

Welcome to Business Banking from First National Bank of McHenry.  We’ve designed four distinct business banking solutions that will fit all shapes and sizes of business.  Whether your business requires a low cost solution for minimal account activity or a high volume solution, you’ll find one of our four business banking products certain to meet your needs while keeping costs in line.

Small Business Checking

 

Number of Items*

Monthly Fee

Minimum Balance To Avoid Monthly Fee

Per Item Charge

0 – 100

$0

N/A

N/A

101-200

$5

$1000

N/A

201+

$5

$1000

.30 each

*Items are defined as deposit tickets, checks deposited, checks written, ACH (electronic) deposits / credits, and ACH (electronic) withdrawals / debits.

The absolutely perfect account for a low volume or start up business.  This account will be treated as a free account provided the number of monthly processed items is less than 100.  Only if the amount of monthly processed items happens to exceed 100, you will have the option of maintaining a minimum balance of $1000 in order to have the $5 statement charge waived.  This will also afford you the luxury of being able to process an additional 100 items at no additional cost.

Examples of Expected Service Charge(s) for Small Business Checking

Based on certain activity and minimum balance scenarios, we’ve computed some examples to assist you in determining if this account is right for you.  Undoubtedly, your activity will differ.  As always, our Personal Bankers are available to assist you in determining which account better suits your specific business needs by performing a complete analysis of your expected account activity.

 

Number Of Items You Process

Your Minimum Balance

Your Expected Charge

40

$50

$0

175

$3000

$0

150

$150

$5

210

$200

$7.70

202

$4000

$.30

Additional Features

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Regular Business Checking

 

Number of Items*

Monthly Fee

Minimum Balance To Avoid Monthly Fee

Per Item Charge

0 – 100

$0

N/A

N/A

101-400

$10

$5000

N/A

401+

$10

$5000

.30 each

*Items are defined as deposit tickets, checks deposited, checks written, ACH (electronic) deposits / credits, and ACH (electronic) withdrawals / debits.

Regular Business Checking is the ideal account for businesses that will have larger volumes of activity.  Similar to Small Business Checking (above), the first 100 items processed are provide free of charge without any minimum balance to maintain.  However, for larger volumes of processed items, this account will provide value to your business by allowing up to 400 items to be processed without a monthly fee, provided a $5000 minimum balance is maintained.

Examples of Expected Service Charge(s) for Regular Business Checking

Similar to above, we’ve computed some examples to assist you in determining if this account is right for you.  Undoubtedly, your activity will differ.  As always, our Personal Bankers are available to assist you in determining which account better suits your specific business needs by performing a complete analysis of your expected account activity.

 

 

Number Of Items You Process

Your Minimum Balance

Your Expected Charge

30

$50

$0

300

$7000

$0

250

$1000

$10

402

$6000

$.30

405

$1000

$11.20

Additional Features

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Commercial Analysis Checkingbizbnr321

 

Design

The Commercial Analysis Checking Account is designed for businesses that have a higher volume of checking activity or wish to use funds on deposit to offset some or all of their monthly activity fees. Commercial Analysis Checking applies a reasonable fee based on the exact level of account activity; this fee is reduced based upon the amount of average collected balances maintained in the account. This credit back is called an Earnings Credit and explained below.

Features

No minimum balance required.

Transaction Fees

All checks written or other debits  .12 each
All deposits or other credits  .25 each
Items in those deposits  .10 each

Earnings Credit

Variable. Base earnings credit indexed to the 3 month current maturity Treasury to be changed monthly. This earnings credit can be used to offset most other miscellaneous bank fees.

Statement Options

Statement includes return of check images. 

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Commercial SNOW Checking

Design

Higher Balance Commercial Checking Account consumers will get the most from the SNOW account. It combines basic banking services with interest being earned and paid on all collected balances. This high performance account is built with three interest rate tiers to provide you the maximum return on your balances.  Statements are prepared and mailed monthly with check images.  Federal regulations prohibit us from offering this account to corporations.

Features

Minimum balance of $5000 required to avoid a monthly $10 account handling charge.
Interest is compounded daily and paid monthly. Closing the account prior to interest posting will result in a forfeiture of all interest earned for that month.

Transaction Fees

All checks written or other debits  .12 each
All deposits or other credits  .25 each
Items in those deposits  .10 each

Statement Options

Statement includes return of check images. 

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Not for Profit Organizational Commercial Checking

Design

If your organization, group, or association has attained not for profit status as designated by IRS code 501 3(c), you are eligible for one of the best commercial accounts in the area. The First National Bank of McHenry offers these types of organizations an interest bearing commercial account with no minimum balances to maintain. We will pay a competitive interest rate on all balances on deposit in your account on a monthly basis while never being assessed a service charge.

Features

No monthly account handling fee.

Interest is compounded daily and paid monthly. Closing the account prior to interest posting will result in a forfeiture of all interest earned for that month.

Statement Options

Statement includes return of check images.