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Business Checking
Oak Bank is as
interested in the success of your business as you are!
Total
Business Checking
Does your business require a checking account that
accommodates a high number of transactions? If so, Oak Bank’s
full-featured Total Business Checking Account may be the
premier option for your business needs. |
Simple
Business Checking
Do you have a small business that demands efficient and
economical checking services? If so, Oak Bank’s
non-interest bearing Simple Business Checking account will
suit your business needs best. |
Business
Interest Checking
Is your organization a sole proprietor, municipality,
governmental unit or non-profit? If so, Oak Bank’s
full-featured interest bearing account will be an ideal
solution to maximize your business dollars. |
| Total
Business Checking |
| Does your business require a
checking account that accommodates a high number of
transactions? If so, Oak Bank’s full-featured Total
Business Checking Account may be the premier option for your
business needs. |
| Account
Features |
Benefits |
| Generous
Earnings Credit
Low Activity Fees
Sweep Features |
Earnings
Credit offsets activity fees with your daily balances.
Lower balances necessary to offset
your fees.
Connects with money market accounts
or lines of credit for customized cash management advantages. |
Oak Bank’s Total Business Checking
Account actually rewards you, in the form of an Earnings
Credit, for the value of your balances. You can avoid
activity charges by maintaining a certain account balance.
Although federal law prohibits banks from paying interest on
business checking accounts, you can still come out ahead.
Here's how it works: The Earnings Credit is calculated based
on the average collected balance for the month, less
reserve requirements. If your account's Earnings Credit is
greater than the activity fees, no charge is assessed. If
the Earnings Credit is less, the difference is charged
against your account. Ultimately, the Earnings Credit may
cover the cost of business services.
 | Non-interest bearing account for businesses and
governmental units with no minimum balance required. |
| There is a monthly maintenance fee of $10.00 that may
be offset by an earnings credit. |
| There is a per item check/debit fee of $0.20 and per
item deposit fees of $0.075 for On-us, $0.095 for Local,
$0.105 for Regional, and $0.115 for Transit. These
charges may be offset by an earnings credit. |
| An earnings credit is given to offset these
charges using the average monthly T-Bill rate for the
past month on average collected balances. |
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| Simple
Business Checking |
| Do you have a small business
that demands efficient and economical checking services? If
so, Oak Bank’s non-interest bearing Simple Business
Checking account will suit your business needs best. |
| Account
Features |
Benefits |
| Low Activity
Fees
Low $2500 Minimum Balance |
Many
transactions possible without fees.
Avoids monthly service fees and
saves you money. |
| Non-interest bearing account for businesses and
governmental units. |
| To avoid the monthly $9.75 service fee, maintain a
$2,500.00 average daily collected balance. |
| A monthly service fee of $0.25 per deducted item over
25 per month and $0.25 per deposited item over 50 per
month will apply. |
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| Business
Interest Checking |
| Is your organization a sole
proprietor, municipality, governmental unit or non-profit?
If so, Oak Bank’s full-featured interest bearing account
will be an ideal solution to maximize your business dollars.
Check out our great rate. |
| Account
Features |
Benefits |
| Generous
Interest Rate
Low Activity Fees
Sweep Features |
Makes money
on your transaction account funds.
Saves company money on financial
services.
Connects with money market accounts
or lines of credit for customized cash management advantages. |
| An interest bearing account for sole proprietors and
governmental units with no minimum balance required. |
| There is a monthly maintenance fee of $10.00. |
| There is a per item check/debit fee of $0.20 and per
item deposit fees of $0.075 for On-us, $0.095 for Local,
$0.105 for Regional, and $0.115 for Transit. |
| Earn a variable interest rate, which may change
weekly, credited and compounded monthly on daily
collected balances. |
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If you would like to apply for a business
checking account, call 608/441-6000 or contact
us.
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