REQUIREMENTS
True or False. A Tax ID is REQUIRED to open a Small Business Checking Account.
True!!!!
The fee for overdrafting more than $15.01 on the Small Business Checking account is....
True!!
What is the minimum opening deposit required to open these accounts?
$25.00
If you exceed 100 Transactions in a Statement Cycle, you will be charged....
0.40 cents per transaction.
The Daily Minimum Balance on the Small Business Checking is....
$1000.00
True or False. The customer must be registered with the Colorado Secretary of State to open a Business account with us.
True.
The Monthly Maintenance Fee for falling below the minimum balance is...
$10.00
True or False. Business owners can print debit cards for their employees.
True
The Small Business Checking W/ Interest is available to what types of businesses?
Small Proprietorships and Non-Profit Corporations
True or False. The Small Business Account has an Earnings Credit Rate that helps waive any activity fees.
FALSE
What is the Annual Percentage Yield on the Small Business w/ interest
0.12% APY
Aaron would like to open a new Small Business Checking account for his Private ATM Business. He has a Tax ID #, and is registered with the Colorado SOS. Can he open the account?
No. The Small Business Checking account is not available too Public Organizations, Money Service Businesses, or Privately owned ATMs
True or False: Debit Card transactions are not considered into the activity fees.
True!
True or False. Interest is only earned on balances greater than $1000.00
FALSE. Interest is earned and Paid on all balances!