Pioneer Bank
 
 

 

Business Checking Accounts

Commercial Checking Business Money Market Checking Business NOW Checking Business Checking Non-Profit
Checking
Eligibility
Corporations, Partnerships, Sole Proprietorships, LLCs, Non-Profits & Government Units Corporations, Partnerships, Sole Proprietorships & Government Units Sole Proprietorships, Non-Profits & Government Units Corporations, Partnerships, Sole Proprietorships, LLCs & Organizations with low to moderate account activity Non-Profits
Earns Interest
Non-applicable Yes Yes Non-applicable Non-applicable
Minimum Opening Balance
Non-applicable $2,500 $750 Non-applicable Non-applicable
Minimum Daily Balance
Non-applicable $2,500 to avoid Minimum Balance Fee; $0 to obtain APY $750 to avoid Minimum Balance Fee; $0 to obtain APY Non-applicable Non-applicable
Minimum Balance Fee
Non-applicable $10 or See (*A) to avoid Minimum Balance Fee $10 or See (*A) to avoid Minimum Balance Fee Non-applicable Non-applicable
Monthly Maintenance Fee
$5 Non-applicable Non-applicable $15 Non-applicable
Per Item Fee
$0.20 per check/debit;
$0.25 per deposit/credit;
- Item Deposited -
$0.08 per transit item;
$0.06 per Pioneer Bank item or See (*C) to avoid Per Item Fee
Non-applicable Non-applicable Non-applicable Non-applicable
Compounded and Credited Interest
Non-applicable Monthly Monthly Non-applicable Non-applicable
Transfer Limits
Non-applicable Yes - See (*B) Non-applicable Non-applicable Non-applicable
Monthly Statement
By Postal Service or
E-Statement
By Postal Service or
E-Statement
By Postal Service or
E-Statement
By Postal Service or
E-Statement
By Postal Service or
E-Statement
Online Banking and Telephone Banking
Available Available Available Available Available
Terms and Conditions:
APY = Annual Percentage Yield

(*A) A Minimum Balance Fee will be imposed every statement period if the daily balance in the account falls below the minimum daily balance any day of the statement period. Fees may reduce earnings.

(*B) You may not make more than six (6) transfers and withdrawals from your account per statement period by means of a preauthorized or automatic transfer or telephone (including data transmission) agreement, order or instruction or by check, draft, debit card or similar order payable to third parties.
Excess Transaction Fee (over six items per statement period): $15 per item after six

(*C) The earnings credit is calculated on your average collected balance, less 10% reserve requirement. The credit is based on a leading market index. You will not be paid for any excess earnings credit, but any excess will be carried forward. If the average collected balance is negative, no earnings credit is applied.

Sample Analysis for Commercial Checking
Monthly Maintenance Fee
65 Checks/Debits
8 Deposits/Credits
40 Transit Items
15 Pioneer Bank Deposited Items


Earnings Credit at 0.18% on collected balance of $3,500. (Example rate only. Rate may change each statement period.)

Service Charge for Statement Period

  $5.00
13.00
2.00
3.20
0.90
----------
$24.10


$0.53
----------
$23.57
----------

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HSA and Your Employees

Health Savings Accounts provide a tax deduction for employers who contribute to their employees' accounts. Known to attract or retain employees by expanding employee benefits, an HSA can lower overall health insurance costs by switching to the less costly high deductible health plans.

* Consult a tax advisor for a list of qualified medical expenses. For qualifying customers only.

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