Outfit your company with a tailored checking account.
The common denominator among all business owners? You're busy, and you need a convenient checking account. After that, you have your individual needs. Shore United Bank lets you check all your boxes with four business banking options.
*Compare accounts below.
- Access to Online Banking and bill payments6
- Free mobile app and mobile check deposit
- Tap into various cash management services, from low-cost equipment to specialized payment processing services for retail, restaurants, hotels, and more
- Manage money with a simple call to telephone banking
- Visa debit cards for easy in-store and online purchasing
- Keep your account information at your fingertips with monthly eStatements
- Surcharge fee access to more than 55,000 ATMs through the Allpoint Network
In addition to providing resources to help you easily access and manage your funds, we also offer optional fee-based services to help you optimize cash flow and increase profitability. These services include:
- Manage payroll through Automated Clearing House (ACH) Origination
- Combat fraud with Positive Pay
- Remote Deposit Capture
- Merchant Card Services
- Wire Transfers
- Lock Box Services
- Re$ubmitIt- Electronic Check Recovery Service
Business Checking
- Limited transaction volume2 each month
- Maintain a $500 Average Ledger Balance1 to avoid a $8.00 Monthly Service Charge
- Non-interest bearing account
Commercial Analysis
- Earnings credit3 may offset fees, including $15 Monthly Service Charge, per item fees, and other fee-based services
- Non-interest bearing account
Commercial Interest Sweep
- Offers an earnings credit3 AND earns interest4 on excess balances
- Earnings credit3 may offset fees, including $50 Monthly Service Charge, per item fees, and other fee-based services
- Excess balances that are not used to offset fees are swept into an interest-bearing account with a Tiered Interest Rate on Daily Balance4
Premium Business Checking
- $25,000 Average Ledger Balance1 to avoid a $25.00 Monthly Service Charge
- Bundled5 with a Premium Business Money Market to earn a tiered variable rate of interest equal to the Federal Funds Rate (“Index”) less a margin, based on the daily balance in the money market account
Applicable to all accounts, we require a $20 minimum deposit and a $10.00 early closing fee if closed within 60 days of opening. See supplemental disclosure for information regarding our overdraft services.
ORDER CHECKS
ORDER CHECKS
1Average ledger balance is calculated by adding the principal in the account for each day of the calendar month and dividing that figure by the number of days in the calendar month.
2Bank reserves the right, upon notification to the customer, to convert any accounts that consistently process more than 2,000 items per month to another business checking account product.
3The earnings credit will be calculated by applying the periodic earnings credit rate to the average collected investable balance in the account for the statement period. At our discretion, the periodic earnings credit rate may change at any time. The average collected balance is calculated by adding the principal in the account for each day of the calendar month and dividing that figure by the number of days in the calendar month. The investable balance is the average collected balance reduced by 10%. The earnings credit is limited to the fees assessed for the statement period.
4The interest rate and annual percentage yield will depend on the average ledger balance in the account, as shown on the Rate Chart provided at account opening. At our discretion, we may change the interest rate on the account at any time. Interest begins to accrue on the business day you deposit non-cash items (i.e., checks). Interest will be compounded daily and credited to the account monthly. We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day.
5You must maintain a Premium Business Checking account to open a Premium Business Money Market account. Account ownership must be the same on both accounts to be eligible for the bundled account. If you do not maintain a Premium Business Checking account, we may change the interest rates and terms of your Premium Business Money Market account. We will provide you with a change in terms notification at least (30) days in advance of the effective date of the change.
6Third party data and internet rates may apply.
