Business Accounts

in business to help your business

Business Account Types

Sole Proprietorship

For members who have exclusive ownership
Requires Social Security Number or Federal Tax ID # and business license
Monthly fees will be determined by transaction volume

Partnership

For two or more people contractually associated in a business
Requires Social Security Number or Federal Tax ID # and Partnership Agreement
All partners must sign business account application
Monthly fees will be determined by transaction volume

Corporation (for profit or non-profit)

For businesses owned by stockholders
Requires a Federal Tax ID # and Articles of Incorporation
Two officers of the corporation must sign the business account application
Monthly fees will be determined by transaction volume

Limited Liability Corporation

For business managers and officers of a Limited Liability Corporation
Requires a Federal Tax ID # and Articles of Incorporation
Two officers of the corporation must sign the business account application
Monthly fees will be determined by transaction volume

Public Funds

For state money (school accounts)
Requires a Federal Tax ID #
Two members must sign the business account application
No monthly fees

Organizational Accounts

For associations, clubs, religious, charitable or educational entities
Requires a Social Security # or Federal Tax ID # and proof of authority to administer the account
Two members must sign the business account application
Monthly fees will be determined by transaction volume

..................................................................................................................................................

Business Account Guidelines

Membership and eligibility is required for all business applications
Both profit and non-profit organizations are eligible
All checks made payable to a business will be deposited in the named business account
A loose coin counting fee will be charged at the rate of 1% on any amount over $250

Checking Accounts

A $25 set-up fee will be charged when opening a business checking account. (This fee covers the cost of ordering an endorsement stamp.)
A no fee debit card is available (without a line of credit)
Business Accounts do not accrue interest on daily balances
Your business checking account will be charged a monthly fee, based on monthly transaction volume.

Merchant Banking Services

We offer Merchant Banking Services. With Merchant Banking Services, businesses can accept credit card payments at their place of business, or online through E-commerce. To learn more, please call (801) 337-2068.

Returned Check Fees

An $8 per check fee will be charged to any business account when their returned checks are forwarded to a collection agency
A $6 per check fee will be charged to any business account when their returned checks are forwarded to the business
A $4 per check fee will be charged to all public fund accounts
A $20 per check fee will be charged for all non-sufficient funds

..................................................................................................................................................

Monthly Transaction Fees

The applicable monthly fees for Business Checking Accounts will be automatically deducted within the first five business days of each month. Monthly fees may vary based upon the following transaction volumes:

deposited and cleared checks per month	monthly fee
Under 50	$0
51 - 200	$10
201 - 500	$25
501 - 1,000	$50
1,001 - 2,000	$100
2,001 - 5,000	$250
5,001 - 8,000	$400
8,001 or more	$750