Frequently Asked Questions
What types of businesses are eligible?
- Sole Proprietorship
- Partnership (General and Limited)
- Registered Non-Profit for unions and Not for Profit Corporations
- Limited Liability Company (LLC)
Is there a monthly fee?
Yes, there is a $10 monthly maintenance fee.
Is there a minimum to earn dividends?
Yes, the minimum to earn dividends is $2,500.
Do you offer protection from overdrawing my account?
Yes, Overdraft Protection Transfers and Sweep Account Transfers are available for this type of account.
Is there a limit on the number of transactions I can make?
No, there is no limit to the number of transactions you can make with this account.
What is a “Sweep Account Transfer?”
A Sweep Account Transfer is an automatic transfer made at the end of each business day to help you and your business maintain your set target balances. For example: You want your Business Checking to have a maximum amount of $5,000, but your balance is at $6,700 at the end of the day. A Sweep Account Transfer will occur and move $1,700 in your Business Savings or other account you’ve set up.