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Small Business - Frequently Asked Questions

Analyzed Checking Accounts

1. Fees and Charges

2. Statements

1. Fees and Charges

1.1 What is the monthly service charge?
The monthly service charge is based on the activity on your account(s) and the fees associated with that activity.

1.2 What is an earnings credit allowance?
The bank applies an established earnings credit rate to your account balance(s) to determine the earnings credit allowance, which can offset the cost of services provided in conjunction with your account (such as checks paid, items deposited, deposit processing, night depository).

1.3 How is the earnings credit allowance calculated?
Each month, we calculate the earnings allowance for your account(s) by applying the earnings credit rate to your "balance to support activity" -- that is, the funds you have available to support your account activity for that statement period. The balance to support activity is calculated as follows:

  • Ledger balance
  • Plus funds advanced
  • Plus or minus adjustments
  • Minus uncollected funds
  • Minus legal reserve
  • Minus other compensating balance requirements

1.4 What is the ledger balance?
The ledger balance is the average daily balance of all entries made to an account, whether or not they are collected or available for withdrawal.

1.5 What are legal reserves?
Legal reserves are a calculated percentage of deposits that the bank is legally required to keep with the Federal Reserve Bank. 
 
1.6 What are compensating balances?
Compensating balances are minimum average collected balances you have agreed to maintain in your account in return for special pricing on loans or other services.

1.7 If my earnings allowance exceeds the cost of services provided, do I get a credit?
No. Excess earnings credits are not paid to you and do not accumulate from one statement period to another.

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2. Statements

2.1 What information is included in my Analyzed Checking statement?
Your detailed analysis includes activity on cash management services, checks written, items deposited, deposit processing, and night depository services. It also includes the earnings credit rate for the statement period.

2.2 How is the earnings credit rate set?
The earnings credit rate is determined by the bank and is set each month based on current market conditions.
 
2.3 What is the bank's reference rate?
The reference rate is the rate of interest the bank uses as a baseline for establishing the earnings credit rate.

2.4 Will my analyzed statement reflect activity on more than one account?
If you have requested that other accounts be linked to a designated master account, then the activity for all linked accounts will be included. These combined balances are considered in determining the monthly service charges and earnings credit allowance.

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