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| Florida Bank offers a wide range of services. Take a look at Our Services to view the many advantages we have to offer. |
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:: BUSINESS BANKING SERVICES
Zero Balance Accounts/Target Balance Accounts: Move funds between accounts automatically, freeing up time to concentrate on your business.
ACH Origination: Move funds electronically without the processing and clerical expense of paper transactions.
Direct Deposit: Give your employees a free personal checking account when you offer direct deposit.
Online Banking: Timely, accurate and convenient access to your accounts allows you to view and print account activity reports, initiate stop payments, make transfers, wire funds and originate ACH transactions from virtually anywhere in the world, 24 hours a day.
Positive Pay: Reduce your exposure to check fraud by providing us with a list of your issued checks. When the check comes through, we verify it against your file and notify you if it is invalid. At the end of the month, you'll receive an exportable file with all of your cleared and outstanding checks.
Cash Sweep Investment Accounts: An automatic investment solution that allows you to earn a competitive yield on your excess business checking account balance that would otherwise be sitting idle.
Account Analysis: Take advantage of your excess account balances to offset service fees.
Remote Deposit Capture: Scan checks from your desktop and electronically send the images to the bank for deposit to your account, saving time and money.
Pinnacle Business Checking: Our Pinnacle Business Checking account is designed for business clients who maintain multiple accounts with the bank. Businesses with combined deposit balances1 of $25,000 or more qualify for the Pinnacle relationship account and are eligible for the following benefits at no charge:
- A second account of your choice
- Free "Pinnacle Checks"
- 4 Free Foreign Bank ATM transactions per month
- Online Banking with Bill Pay2
- Business Visa Debit Card
- Free Small Safe Deposit Box (3x5)
- Free Official & Travelers Checks
- Free Incoming Wires
- Free Change Orders
A monthly maintenance fee of $20 will be imposed every statement cycle if the combined balances1 in the accounts fall below $25,000 any day of the statement cycle. There are no transaction fees for the first 150 items, which includes deposits, deposited items and items paid, per statement cycle. There is a $0.25 fee for each item in excess of 150.
1Balances maintained in business checking, money market and savings accounts with the same primary owner are used to calculate combined balances for the purpose of imposing the monthly maintenance fee.
2Bill Pay service is available for checking accounts only and includes 30 transactions per month. A fee of $0.40 is assessed for every transaction in excess of 30.
Small Business Checking: Our Small Business Checking account is designed for businesses with low to medium account activity. There is no monthly maintenance fee when you maintain a daily balance of $2,500. A $15 monthly maintenance fee is assessed if the balance in the account falls below the minimum balance requirement. There are no transaction fees for the first 150 items, which includes deposits, deposited items and items paid, per statement cycle. There is a $0.25 fee for each item in excess of 150.
Commercial Analysis Checking: This account is designed specifically for businesses with medium to high account activity. The service charge is based on the monthly account activity and may be partially or fully offset by a market based *earnings credit.
Account Fees:
| Monthly maintenance fee: |
$15
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| Per deposit credited: |
$0.12
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| Per item deposited: |
$0.12
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| Per item paid: |
$0.12
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*The earnings credit is calculated by multiplying the average monthly collected balance minus a 10% reserve requirement.
Business Now Checking:3 With our Business NOW Checking account you can earn interest on your money and pay no monthly maintenance fee when you maintain a daily balance of $1,500. The account features five interest rate tiers. A $15 maintenance fee is assessed if the balance falls below the minimum balance requirement. There are no transaction fees for the first 150 items, which includes deposits, deposited items and items paid, per statement cycle. There is a $0.25 fee for each item in excess of 150.
3 Based on federal regulations, business interest checking accounts are only available to certain sole proprietorships, not-for-profit organizations, government entities, trusts & estates.
Attorney's Interest On-Trust Account (IOTA): Our IOTA Interest Checking account offers unlimited items, no minimum balance requirements, and no monthly maintenance fee. The account is maintained in compliance with the IOTA program of the Florida Bar. Interest will be compounded monthly and paid directly to the Florida Bar.
Business Savings:4 Our Business Savings account offers competitive rates, five interest rate tiers and no monthly maintenance fee when you maintain a minimum daily balance of $300. A $3 monthly maintenance fee will be imposed each month the balance falls below the minimum requirement. A minimum opening balance of $100 is required.
Business Money Market:4 Our Business Money Market account provides five interest rate tiers and limited check writing privileges4. You can open the account with $100 and avoid the $15 monthly maintenance fee by maintaining a minimum balance of $2,500.
4Money Market & Savings accounts have regulatory restrictions on the number of transactions per month and a fee for exceeding these transactions. Please refer to the Transaction Limitations and Fee Schedule sections of this brochure for more detail.
Certificates of Deposit: For businesses seeking a higher rate of interest Florida Bank offers Certificates of Deposit with a variety of terms and interest payment options. Please refer to our Truth In Savings and Account Disclosures for information about how interest is calculated, early withdrawal penalties and other account terms.
Transation Limitations: You may make six transfers from your account each statement cycle, if by preauthorized or automatic transfer, or telephone (including data transmission) agreement, order or instruction. Three of these transfers may be made by check (money market accounts only), debit card or similar order (including POS transactions), made by the depositor and payable to third parties. Transfers and withdrawals made in person, by messenger, by mail or at an ATM are unlimited.
Florida Bank will send you a notice after the first and second month of excessive transfers. After three instances of exceeding the allowable number of withdrawals/transfers, your account may be closed and funds placed in a checking account or you may be offered other options to eliminate future occurrences.
Transactions in excess of the above stated limits will be assessed an Excess Transaction Fee. Please refer to the Miscellaneous Schedule of Fees for details.
Balance Information: We use the daily balance method to calculate the interest on accounts. This method applies a daily periodic rate to the principal in the account each day.
Rate Information: The interest rate and annual percentage yield may change at any time. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example checks). Interest will be compounded monthly and will be credited to the account monthly. If the account is closed before interest is credited you will not receive the accrued interest.
Dormant Accounts: Checking and savings accounts become dormant after 12 months of inactivity. Inactivity means there has been no deposit into or withdrawal from the account or any other Florida Bank account held by the primary account owner. Please refer to the Miscellaneous Schedule of Fees associated with dormant accounts. Florida Bank reserves the right to close an account if there is a zero balance and no activity for a period of time.
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