Business Checking and Savings
At Anchor Bank, we succeed when you succeed. That's why every product we offer to businesses is designed to help you establish a solid financial foundation to build a successful business. We're skilled at meeting the varied interests of businesses-from the sole proprietor, professional, or partner, to the corporation and non-profit organization, so we can grow right along with your needs and give you all the financial tools necessary to make your money work for you.
Our Business Checking Accounts are competitively priced and offer some key benefits to suit the needs of your business. Please refer to the options listed below for detailed information regarding the product features and fees.
|Small Business Checking||Business Checking||Community Checking|
|Businesses with a low number of monthly transactions.||Businesses looking for a generous number of free transactions.||Associations and clubs with very limited banking needs.|
|Free Business Debit Card5 with Zero Liability||X||X||X|
|Free Online Banking||X||X||X|
|Free Email Account Alerts||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
|Free Mobile Banking||X||X||X|
|Interest Option Available1||X||X|
|Monthly Statement Fee3||$0 if eStatement or paper statement or $6.00 if image statement||$0 if eStatement or paper statement or $6.00 if image statement||$0 if eStatement or paper statement or $6.00 if image statement|
|Free access at all MoneyPass® ATMs||X||X||X|
|ATM fees at non-MoneyPass ATMs6||$2.00||$2.00||$2.00|
|Balance Requirement||None||$3,000 average collected balance||None|
|Monthly Service Fee||None||$17.00 if balance requirement is not met||None|
|Monthly Item2||Free for up to a combination of 150 deposit tickets, debits and deposited items; $0.50 per item over 150||Free for up to a combination of 500 deposit tickets, debits and deposited items; $0.50 per item over 500||None|
|Uncollected Funds4||Prime + 4.00%||Prime + 4.00%||None|
|Monthly Cash Deposited||$.0017 per $1 deposited in
excess of $1000
|$.0017 per $1 deposited in
excess of $1000
1Interest bearing checking accounts earn a variable interest based on the daily collected balance. For current rate information on our interest bearing checking accounts, 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 the ATM owner.
Whether you’re just starting out or you’ve been in business for a while, the last thing you want to worry about is accidentally overdrawing your checking account. Anchor Bank Overdraft Protection can help you avoid the inconvenience of an overdrawn account as well as the associated fees. You can fund potential overdrafts through one of your Anchor Bank deposit, savings or credit accounts, or from a combination of accounts.
How Your Business Benefits
- Avoid overdrawn accounts as well as insufficient funds fees
- Available on all of our business checking accounts to cover insufficient funds
- You decide which accounts or combination of accounts will fund potential overdrafts
- Choose from checking, savings, money market savings, and most business credit lines for Overdraft Protection
Subject to credit approval
The BusinessCard gives you the convenience of a business credit card without the finance charges and monthly bills. Unlike a credit card, payments for purchases are automatically deducted from your primary business checking account, so it's a safe and easy way to access funds you need without keeping a lot of cash in your wallet.
How it works for you
Simply present the BusinessCard at the time of purchase. In most cases, you can select the credit (signature) option to make your purchases. You may need to select the ‘credit’ or ‘cancel’ button for this option. Some merchants may require a debit (PIN) for purchases. If this occurs, you simply enter your PIN number to compete the transaction. This PIN is the same four-ditgit code as your ATM PIN. You may use all MoneyPass® ATMs to withdraw cash surcharge-free. MoneyPass has over 22,000 ATMs across the United States. To locate a MoneyPass ATM go to www.moneypass.com. Each transaction will appear on your monthly statement. However, instead of only seeing a check number and amount, when you use the BusinessCard, you see the amount of the transaction and the location where the purchase was made. You can even access up-to-the-minute transaction information via AnchorLink® or AnchorLine®.
Key benefits to your business
• Convenience – The BusinessCard can be used everywhere MasterCard credit cards are accepted. It is faster than writing checks, more convenient than cash, and no need to carry around a checkbook. The BusinessCard can also be used for Internet purchases or to pay bills via the telephone.
• Save money – With a credit card you receive a monthly bill and often have to pay interest charges for using the card. When you use the BusinessCard, the money is deducted from your checking account–no monthly bills or interest to pay.
• Save time – Just “swipe and go” when paying at participating merchants. There's no need to write checks or wait for check approvals. Plus, you won't need to spend time reconciling the petty cash account.
• Better tracking and reporting – The BusinessCard makes it easier to monitor employee spending, identify potential tax deductions, and fill out expense reports. All purchases are itemized on your monthly checking account statement and timely transaction information is available via AnchorLink and AnchorLine. Your statements and reports provide a way to separate business from personal expenses and provide your business with a clear paper trail and documentation.
You can also use your Business Debit Card at any MoneyPass ATM to withdraw cash and make deposits at US Bank ATMs without any surcharges. Locate any of the over 20,000 MoneyPass ATMs across the United States by visiting www.moneypass.com.
To learn more about the security of your debit card click here
With competitive interest rates and low minimum balances, choosing a Business Savings Account through Anchor is a step in the right direction. You can allow your cash to grow in a secure yet accessible location while you decide how to invest it.
|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
|$0 - $14,999.99
$15,000 - $99,999.99
$100,000 - $149,999.99
|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|
|Deposit item fee after first 25 per month||$25.00||$25.00|
|Balance Requirement||$300 minimum||$15,000 minimum|
|Monthly Service Fee if balance requirement not met||$6.00||$30.00|
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
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.