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At Albank, we understand the importance of building a strong personal relationship with our business customers. Our experienced staff will give you professional advice to assist you in making the right account choices to suit your financial needs.
Account Analysis for Business Checking
This account features no minimum balance and a low monthly maintenance fee.
Opening Deposit Amount: $1,000.00
Earnings Allowance
Account Analysis allows the earning value of the average ledger balance(s) for the current Month's Statement cycle in your DDA account(s) to offset the current Month's banking service charges. The earnings rate is variable and determined monthly at the banks discretion.
Account Analysis Service Fee
The service charge generated by Account Analysis will be deducted on each Monthly Statement.
Charge at Recap
You may decide to combine Business Checking Accounts you hold at Albany Bank for Analysis purposes. All recap account average ledger balances and service fees for the current Month's Statement cycle will be combined with the resulting service fee being deducted from the Primary Account's Monthly Statement.
Charges
| Monthly Maintenance Fee |
$10.00 |
| Deposits (each) |
$0.50 |
| Checks/Items Deposited (each) |
$0.20 |
| Cash Deposited per 100.00 |
$0.10 |
| Checks Paid (each) |
$0.20 |
| ACH credits & debits (each) |
$0.15 |
| Negative Collected Balance Usage Fee |
Prime Rate Plus 5% |
If you close your account within three (3) months from the opening date, an Early Closing fee of $10.00 will be assessed.
Please refer to our Customer Accommodation Service Fee Schedule for a listing of other fees that may apply to your account.
Checks/Withdrawals are subject to our Check Clearing Policy. No checks of any kind are cashed for Non-customers.
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Not-for-Profit Checking
Schools, Churches, Girl and Boy Scout Troops, PTAs and other non-profit organizations can benefit from this account that has no minimum balance requirements.
The minimum opening deposit for this account is $1,000.00.
Charges
| Monthly Maintenance Fee |
$2.50 |
If you close your account within three (3) months from the opening date, an Early Closing fee of $10.00 will be assessed.
Please refer to our Customer Accommodation Service Fee Schedule for a listing of other fees that may apply to your account.
Checks/Withdrawals are subject to our Check Clearing Policy. No checks of any kind are cashed for Non-customers.
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Sole Ownership N.O.W. Account
If you are a sole business owner you can have the benefits of an investment account with the access of a checking account. With a Daily Ledger Balance of $2,000.00, you can save money while earning a competitive interest rate.
The minimum opening deposit for this account is $2,000.00.
Charges
| Monthly Maintenance Fee |
$5.00 |
| Deposits (each) |
$0.25 |
| Checks/Items Deposited (each) |
$0.15 |
| Cash Deposited per $100.00 |
$ 0.10 |
| Checks Paid (each) |
$ 0.15 |
| Negative Collected Balance Usage Fee |
Prime plus 2% |
If you close your account within three (3) months from the opening date, an Early Closing fee of $10.00 will be assessed.
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Not-for-Profit N.O.W. Account
To further service the community and beyond, Albany Bank offers a Not-for-Profit N.O.W. account. Earn interest on your organization's money by maintaining a Daily Ledger Balance of $1,500.00.
The minimum opening deposit for this account is $1,500.00.
Charges
| Monthly Maintenance Fee |
$5.00 |
| Deposits (each) |
$0.25 |
| Checks/Items Deposited (each) |
$0.15 |
| Cash Deposited per $100.00 |
$0.10 |
| Checks Paid (each) |
$0.15 |
| Negative Collected Balance Usage Fee |
Prime plus 2% |
If you close your account within three (3) months from the opening date, an Early Closing fee of $10.00 will be assessed.
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Money Market Deposit Account
To make the most of your investment, a Money Market account is a good "savings" choice. This account offers tiered interest rates that allows you to earn more as you save more.
The minimum opening deposit for this account is $2,500.00.
Charges
No monthly maintenance fee will be assessed if your Monthly Statement's Daily Minimum Ledger Balance is $2,500.00 or more. A monthly maintenance fee of $15.00 will be deducted if your Monthly Statement's Daily Minimum Ledger balance is under $2,500.00. You may make six (6) withdrawals to third parties; each subsequent third party is $15.00. Each third party withdrawal must be issued for $500.00 or more. An under transaction limit fee of $15.00 will be deducted for each third party withdrawal that is issued for under $500.00. You may deposit forty (40) checks each monthly statement period; each subsequent check deposited is $0.25 cents.
Negative collected balance usage fee: Prime plus 2%
If you close your account within three (3) months from the opening date, an Early Closing fee of $10.00 will be assessed.
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