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This account offers unlimited check writing. A minimum opening deposit of $100 is required. Service Fees:
This account offers unlimited check writing and the ability to earn interest. Sole proprietorships, associations, and non-profit organizations are eligible to maintain a Super Now checking account. A minimum opening deposit of $925 is required. Service Fees:
This account offers unlimited check writing and the ability to earn a monthly credit to offset transaction service fees. A minimum opening deposit of $100 is required. Service Fees:
Note: Your Business checking account or Super Now account will be analyzed to determine the transaction volume. If the analysis indicates your account should be changed to the Commercial checking account, you will receive written notice from us. Example:
Average Ledge Balance - The average ledger balance maintained in the checking account. It is the sum of each day's ledger balance divided by the number of days in the statement period. Uncollected Funds (Float) - Float is deducted from the average ledger balance. It is the daily average of funds in the process of collection and therefore unavailable to the Bank for investment. Average Collected Balance - The average ledger balance less uncollected funds. Reserve Requirement - Federal law requires that a percentage of all funds on deposit be held in the form of reserves and cash balances. This amount is deducted from the average collected balance before the earnings credit is determined. Net Available Balance - The average collected balance less the reserve requirement. Earnings Credit - The bank provides an earnings credit on the funds available for investment. The rate is set internally and is based on current short-term market conditions. The rate varies with the Bank's cost of funds. Credit received offsets any service charge incurred monthly. Service Fees - The charge for services is calculated at the end of each month. If the earnings credit for that period is sufficient to offset the service fees, no service charge is assessed.
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West
Chester Savings Bank |
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