Checking & Savings Accounts Designed for Business Use
Just as every person’s financial needs are different, so are each business’s financial needs. We try to accommodate each business’s unique needs by providing a variety of business checking and savings accounts.
Each account is designed for a business within a certain transaction volume limit or by the type of business you run.
Money Market Rates
| Interest Tiers | APY* |
|---|---|
| $0.00 - $25,000.00 | 0.15% |
| $25,000.01 - $100,000 | 1.15% |
| $100,000.01 - $250,000 | 1.45% |
| $250,000.01 - $500,000 | 1.55% |
| $500,000.01 - $1 Million | 1.70% |
| Over $1 Million | 1.80% |
* The Annual Percentage Yield (APY) is accurate as of 11/07/2019 and subject to change after account opening. The minimum balance to open is $1,500. Fees may reduce earnings. Please contact a Peoples Bank banker for full terms of account. Member FDIC
Business Deposit Account Options
Compare our business checking and savings account options in the table below. When you have found the one that best fits your needs, visit a Peoples Bank location to open your account.
| Basic Business Checking | Business Plus+ Checking | Analysis Checking | Ag Rewards Checking | Non-Profit Checking | MyPeoples Money Market | MyPeoples Money Market Non-Profit | |
|---|---|---|---|---|---|---|---|
"I want to..." | Low with regard to account activity and balances. | Moderate with regard to account activity and balances. | Looking to reduce fees with a high earnings credit. High volume account. | Related to the Ag Industry. |
Daily checking account for Non-Profits | Interested in moving extra funds to a money market account to earn interest. | A Non-Profit looking for a higher rate of return. |
Benefits | 50 items FREE Business Online Banking & Bill Pay1 | 300 items FREE Business Online Banking & Bill Pay1 | Earnings credit to offset fees Business Online Banking & Bill Pay1 | Daily market texts to your cell phone* Business Online Banking & Bill Pay1 Cashier’s checks and money orders |
300 items FREE Business Online Banking & Bill Pay1 | Earns interest; rate based on balance Business Online Banking & Bill Pay1 | Earns interest; rate based on balance Business Online Banking & Bill Pay1 |
Initial Deposit | $100 | $100 | $100 | $100 | $100 | $1,500 | $1,500 |
Statements | E-Statements – FREE Paper Statements- $3.00/month Paper Statements with Images - $5.00/month Combined statements | E-Statements – FREE Paper Statements - $3.00/month Paper Statements with Images - $5.00/month Combined statements | E-Statements - FREE Paper Statements Combined statements | Images included E-Statements - FREE Paper Statements Combined statements | E-Statements - FREE Paper Statements- $3.00/month Paper Statements with Images - $5.00/month Combined statements | Images included E-Statements-FREE Paper Statements Combined statements | Images included Paper statements E-Statements - FREE Combined statements |
Fees | Avoid $5.00 per month by maintaining $500 minimum average balance. First 50 items FREE, then $0.25 per debit item and $0.25 per transit item deposited. | Avoid $10.00 per month by maintaining $3,000 minimum average balance. First 300 items FREE, then $0.25 per debit item and $0.25 per transit item deposited. | Earnings credit2 on average collected balances to reduce or avoid the following fees: $10.00 per month $0.10 per transit item deposited. $0.20 per debit item. | Avoid a $5.00 per month by maintaining an average daily balance of $500. |
First 300 items FREE, then $0.25 per debit item and $0.25 per transit item deposited. | Avoid a $15.00 per month by maintaining an average daily balance of $1,500. $10.00 activity fee per withdrawal over limit of 6 per month. | Avoid a $15.00 per month by maintaining an average daily balance of $1,500. $10.00 activity fee per withdrawal over limit of 6 per month. |
* 1 Bill Pay, $4.95 per month includes 20 payments, each additional payment is $0.50. *Fees charged by your mobile carrier may apply. 2 Earnings Credit is based on the calculated value of the index described as the Wall Street Journal US Prime Rate minus 3.25 percentage points with a floor rate of .50 percentage points and a ceiling rate of 2.0 percentages points. Fees specific for each deposit account are detailed in your specific account disclosure and available at any Peoples Bank branch. Fees may apply to account-related services and are available in the account fee schedule available at any Peoples Bank branch. Your periodic statement may show fees described as “service charges.” Please refer to the “itemization of service charge” section of your account statement for detailed fee descriptions.