Deposit Accounts
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| Checking Account | |||
| Who is the account for? | Businesses with low transaction volume and lower balances
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Businesses that have more than 150 transactions per month and maintain higher balances |
Businesses with complex banking needs that have high transaction volume and higher balances
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| Typical User of this account. | Businesses that are just getting started, have few employees and have only basic banking needs. | Designed to meet the needs of the vast majority of business customers. This account includes all the banking services needed to operate a business. | Large businesses with many employees and significant flexibility. For the business who needs a unique blend of products and services tailored to them. |
| Prerequisites for this account. | None | None | Requires approval by Business Services Specialist. |
| Business Online Banking | Free Basic Service | Free Basic plus ACH | Free Basic plus all modules |
| MasterCard® BusinessCard™ (Debit Card) |
Free Small Business Debit Card | Free Business Debit Card | Free Business Debit Card |
| Remote Deposit Capture | N/A | N/A | Available - cost may be offset with balances |
| Paper or e-Statements |
Free e-Statements or paper | Free e-Statements or paper | Free e-Statements or paper |
| CD-ROM monthly statement, includes deposited items and check images | Free | Free | Free |
| Monthly balance requirements | No minimum balance requirement | No minimum balance requirement | No minimum balance requirement |
| Transaction fees | 150 Free processed items, each additional item will be charged $.25. An item consists of CREDITS (deposits, deposited items drawn on Peoples Bank, deposited items drawn on other banks & ACH's), and DEBITS (ACH's, checks and debit card transactions). | Credits - $.25 Debits - $.15 Deposited items drawn on Peoples Bank - $.07 Deposited items drawn on other banks - $.08 |
Credits - $.25 Debits - $.15 Deposited items drawn on Peoples Bank - $.07 Deposited items drawn on other banks - $.08 |
| Monthly Maintenance Fee | Free | Free | $10.00 monthly fee |
Peoples Bank wants to make sure you get the account that is right for you. If you need a more specific account, please take a look at our additional accounts below. Please contact a Business Services Specialist if you need more detailed information or if you would like to have an account analysis or recommendation.
| Business Interest Checking |
Typical user of this account? -Sole proprietors and non-profit organizations looking for an account that pays interest. Monthly Maintenance Fee - To avoid the $10.00 monthly fee the account must maintain a daily balance of $1000.00. Transaction Charges - MasterCard® BusinessCard™ (Debit Card) - Free Business Debit Card Monthly Statements - Available in paper or e-Statements at no additional charge CD ROM monthly statement, includes deposited items and check images - $25.00 per month |
| Community Connections |
Typical user of this account? - Non-profit organization or charitable group who needs a checking account. Monthly Service Charge - None Monthly Maintenance Fee - None Monthly Balance Requirement - None Transaction Charges - None Business Online Banking - Free Basic Service MasterCard® BusinessCard™ (Debit Card) - Free Business Debit Card Monthly Statements - Available in paper or e-Statements at no additional charge CD ROM monthly statement, includes deposited items and check images - $25.00 per month |
| Business Freedom Money Market Account |
Typical user of this account? -Interest bearing account for businesses with excess funds to invest. Monthly Maintenance Fee - To Avoid a $10.00 monthly maintenance fee, customers must maintain a daily balance of at least $10,000.00. If the average account balance falls below $100.00 and you receive an ACH credit, you will be charged $.50 per ACH item. Monthly Balance Requirement - $15,000.00. Transaction Charges - Certain transactions are restricted to a total of six (6) per month. Telephone transfers, checks, preauthorized debits over the six (6) permitted each month are charged $10.00 per item. Monthly Statements - Available in paper or e-Statements at no additional charge CD ROM monthly statement, includes deposited items and check images - $25.00 per month |
| Savings Account | Typical user of this account? - Interest bearing account designed for companies that maintain excess funds and want to earn interest while seeking liquidity. Monthly Maintenance Fee - To Avoid a $2.00 monthly, customers must maintain a daily balance of at least $200.00. Monthly Balance Requirement - $200.00 Transaction Charges - Certain transactions are restricted to a total of six (6) per month. Telephone transfers, checks, preauthorized debits over the six (6) permitted each month are charged $.50 per item. Monthly Statements - Available in paper or e-Statements at no additional charge CD ROM monthly statement, includes deposited items and check images - $25.00 per month |
Investing company funds where they can earn the highest possible return is the purpose of the Sweep Account. At the close of every business day, bank computers "sweep" all company accounts, record debits and credits, then invest the collected balance in an account that pays interest. This automatic account monitoring ensures funds are available for company obligations and puts non-essential collected funds where they can help earn more money. Benefits
Features
Most companies will find it beneficial to allow a Business Services Specialist to perform a no-obligation analysis of account activity, project applicable fees and present a "financial snapshot" that reflects the value of this account in real terms. When combined with Remote Deposit Capture and Peoples Corporate Online Banking, Sweep Accounts complete a powerful trio of money management products designed to help companies manage funds more effectively. Contact a Business Services Specialist for the answers to these questions:
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You now have the ability to apply for a new checking, savings, or money market account from your personal computer. Once you have submitted the form a bank representative will contact you to complete the application process.
Peoples Corporate Online Banking
Peoples Corporate Online Connection gives you immediate access to your account information from the convenience of your home or office computer. Now you can do your banking over the internet, simply & securely!
Peoples e-Statements will allow you to receive your bank statements by email instead of by US Postal mail. No more paper, No more crammed files, sign up today!
Peoples Corporate Online Bill Pay
The Bill Pay program allows you to schedule and make payments as well as receive and pay bills online. Bill Pay offers great benefits. You can pay anyone, anytime, anywhere in the US.
Empowering you with the acceptability of MasterCard® (over 24.2 million locations worldwide), the BusinessCard™ is an ATM and debit card that reduces the need for cash or checks, has no monthly payments or finance charges and greatly increases your money management capabilities. As a business owner, you will certainly enjoy the safety and record keeping benefits of a credit card with the immediacy of cash, all rolled into one in the BusinessCard™ from Peoples Bank. You'll find it an incredibly convenient and flexible tool for your business needs.
Combined Statement
One easy-to-read statement containing all your Peoples accounts for simplified record-keeping.
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