Business Checking Account Comparisons

Community Small Business Business Business Interest IOLTA/ Trust/ Escrow
Minimum Deposit to Open the Account $100 $200 $200 $200 $200
Monthly Service Charge $6 $8 Determined through account analysis $12 waived w/ $2000 minimum N/A
Minimum Balance to Avoid Monthly Service Charge $100 min. daily balance $2000 min. daily balance N/A-account is analyzed $2000 min. daily balance N/A
Interest Bearing? N/A N/A N/A Yes Iolta-Yes, Trust- No
How Many Checks May I Write? 10 checks per cycle; $.30 per check thereafter Maximum of 50 checks written; 25 deposits per cycle; 75 items deposited - $.30 per item thereafter Unlimited Unlimited Unlimited
How Many Debit Card Transactions do I get? N/A Unlimited Unlimited Unlimited N/A
Is There ATM/Debit Card POS Usage Fee? N/A Sole Proprietors only Sole Proprietors only Sole Proprietors only N/A
Free Online Banking Yes Yes Yes Yes Yes
Free Notary Services Yes Yes Yes Yes Yes
What Other Benefits Do I Receive? 24 Hour telephone banking; Free courier service (where available) 24 Hour telephone banking; Free courier service (where available) 24 Hour telephone banking; Free courier service (where available); Earnings allowance to offset maintenance fee and analysis charges 24 Hour telephone banking; Free courier service (where available) 24 Hour telephone banking; Free courier service (where available); Interest paid directly to the NC Bar Assoc.
Restrictions? Non-profit N/A N/A Non-profit groups & Sole Proprietorships only (No For-Profit Corps.) N/A
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