Online Banking

Commercial Business Banking

At Anchor Bank, we succeed when you succeed. That's why every product we offer to our commercial partners is designed to build on the solid foundation that you have laid out for your business. We're fully equipped with enterprise-level experience as well as a wide range of financial services so that we can meet the needs of even the largest corporations. With Anchor Bank, you have access to the financial tools you want when you want them.

Checking Accounts

In order for a company to run effiently, every operation needs to be a part of a smooth, seamless process-including paying large expenses. With a Business Checking Account from Anchor Bank, your business has the immediate spending power it needs to keep up with expenditures of all sizes.

  Commercial
Checking
Business
Checking
Non-Profit
Checking

 
Businesses with a high volume of monthly transactions. Businesses looking for a generous number of free transactions. Available to 501(c)(3) organizations.
Free Business Debit Card5 X X X
Free Online Banking X X X
Free Email Account Alerts X X X
Free Mobile Banking X X X
Bill Payment $.50 per item > 20
items each month
$.50 per item > 20
items each month
$.50 per item > 20
items each month
Interest Option Available1 X X X
Image Statement Monthly3   Free $5.50 $5.50
Free access at all MoneyPass ATMs X X X
ATM fees at non-MoneyPass ATMs6 $2.00 $2.00 $2.00
Monthly Service Fee if balance requirement not met Fees may be offset by an earnings credit7 Average collected
balance $3,000 or
$15.00 monthly
Average collected
balance $2,000 or
$10.00 monthly
Monthly Service Fee $20.00 None None
Monthly Item2

$.20 per check

$.65 per deposit ticket

$.14 per deposited item

$.13 per electronic withdrawal and deposited item

Free for up to a
combination of
500 deposit tickets, debits and
deposited items;
$0.50 per item 
over 500
Free for up to a combination of 1,000 debits and deposited items; $0.30 per item over 1,000
Uncollected Funds4   Prime + 4.00% Prime + 4.00% Prime + 4.00%
Monthly Cash Deposited $.0014 per $1 deposited   $.0014 per $1 deposited
excess of $1000
$.0014 per $1 deposited
excess of $1000
Insurance Fee $.131 per $1,000 of ledger balances None None

 

View our Business Checking and Savings Rate Sheet

 

1Interest bearing checking accounts earn a variable interest based on the daily collected balance. For current rate information please contact a banker at one of our locations

2"Deposited item" refers to each item included in a deposit.

3An image statement has images of the front and back of your cancelled checks printed on your bank statement.

4"Uncollected Funds" is the portion of your deposit not yet collected by the bank. If you use uncollected funds you will incur an uncollected funds usage fee.

5Upon credit approval. 

6Does not include any applicable ATM fees charged by ATM owner.

7“Earnings Credit” is a non-cash credit to your checking account that may offset your service fee. It is applied only to non-interest bearing accounts. It is calculated based on the actual number of days in the statement cycle. The earnings credit rate is set by the bank and calculated monthly.

Loan Sweep

Improving the productivity of your employees while effectively managing the cash position of your business is no easy task. Anchor Bank's Loan Sweep provides an automated, convenient and cost-effective way to maintain a target balance on deposits while minimizing your borrowing costs. As your cash position changes from day to day, our Loan Sweep responds automatically to your cash flow needs.

How it works for you
You have a choice between two types of sweep accounts. All you do is specify a target balance for your deposit account. We do the rest. Based on each day's account activity, funds are automatically transferred. As your cash position changes from day to day, Loan Sweep gives you the ability to respond immediately to cash flow needs through your primary deposit account.
• Two-way sweep – Two-way sweep moves funds between your business checking and your business line. If your checking account balance is less than the established target balance then funds are advanced on your line into the designated checking account. If the checking account
balance is greater than the target balance, then funds are swept out of the designated checking account to pay down the line.
• One-way sweep – One-way sweep moves funds from your line of credit to a designated business checking account only. If the checking balance is less than the target balance, then funds are advanced on the line and deposited into the designated checking account only. 

Key benefits to your business
• Eliminates overdrafts – Funds are automatically swept from your line of credit to your checking account as needed, avoiding costly overdrafts.
• Increases efficiency – Automated sweep means less monitoring, handling and forecasting of your daily cash position, making more efficient use of your staffs time.
• Minimizes interest expense – You pay the line automatically as your deposit balances dictate.

Savings Accounts

Still deciding on where to invest your business cash as you determine what's next for your company? With commercial savings options from Anchor Bank, you can put that money to work, gaining interest while you plan your next move.


 
Business Savings Business Money Market Savings
  A convenient account for your money while it earns interest. A high-yield money market account with the option to write checks.
Earns interest1 $0 - $4,999.99
$5,000+
$0 - $14,999.99
$15,000 - $99,999.99
$100,000 - $149,999.99
$150,000+
Free eStatement X X
Use for Overdraft Protection on Checking2 $11.00 per transfer $11.00 per transfer
Free Online Banking X X
Free Email Account Alerts X X
Free Mobile Banking X X
Free access at all MoneyPass ATMs X X
ATM fees at non-MoneyPass ATMs3 $2.00 $2.00
Check access2   X
Withdrawal fee after first 6 per month $10.00 per withdrawal $10.00 per withdrawal
Balance Requirement $300 minimum $15,000 minimum
Monthly Service Fee if balance requirement not met $6.00 $30.00

 

View our Business Checking and Savings Rate Sheet

 

1Variable interest earned on the daily collected balance and paid quarterly on Business Savings and paid monthly on Business Money Market Savings. For current rate information on our interest bearing savings accounts, please contact a banker at one of our
locations.

2During any calendar month you may not make more than six withdrawals or transfers to another account of yours or to a third party by means of a preauthorized or automatic transfer or telephone order or instruction, computer transfer, or by check, draft, debit card or similar order to a third party.

3Does not include any applicable ATM fees charged by ATM owner.

 

CDARS

No matter the size of your investment into a CD, we know FDIC insurance is important to you. That's why Anchor Bank offers CDARS, the most convenient way to access FDIC insurance on Certificates of Deposit of up to $50 million. The benefits of obtaining CDARS through Anchor include having:

  • Peace of Mind. Using the CDARS service, you can access multi-million-dollar FDIC insurance on CD investments.1
  • One Relationship. You work directly with a local CDARS Network member – a financial institution you know and trust.
  • One Rate. You negotiate one interest rate per maturity on CD investments placed through CDARS. With CDARS, there is no need to negotiate multiple rates per maturity or manually tally disbursements for each CD.
  • One Statement. You receive one regular statement detailing your CD investments. You no longer need to manually consolidate statements at the end of each month, quarter, or year.
  • No Hidden Fees. You will not be charged annual fees, subscription fees, or transaction fees for using CDARS. The rate you see is the rate you get.
  • No Ongoing Collateralization. Because CDARS deposits are eligible for FDIC protection, you may not need to continually collateralize your deposits. This can eliminate the time-consuming task of tracking changing collateral values on a recurring basis.2
  • A Wide Variety of Maturities. You can select from various maturities – ranging from 4 weeks to 260 weeks (5 years) – and choose the terms that best suit your investment needs.
  • Community Investment. Your funds can support lending initiatives that strengthen your local community.3

1Limits apply. Funds may be submitted for placement only after a depositor enters into a CDARS Deposit Placement Agreement with a CDARS participating institution. This agreement contains important information and conditions regarding the placement of funds.

2If a depositor is subject to restrictions with respect to the placement of funds in depository institutions, it is the responsibility of the depositor to determine whether the placement of the depositor's funds through CDARS or a particular CDARS transaction satisfies those restrictions.

3When deposited funds are exchanged on a dollar-for-dollar basis with other banks in the CDARS Network, the relationship institution can use the full amount of a deposit placed through CDARS for local lending, satisfying some depositors' local investment goals or mandates. Alternatively, with a depositor's consent, the relationship institution may choose to receive fee income instead of deposits from other participating institutions. Under these circumstances, deposited funds would not be available for local lending.  CDARS is a registered service mark of Promontory Interfinancial Network, LLC.

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