Check 'N Save Negotiable Order of Withdrawal (N.O.W.) Business Interest Checking
Check 'N Save (N.O.W.) business interest checking combines interest earnings. Restricted to sole proprietorships, non-profit organizations, and certain other entities.Business Check ‘N Save N.O.W. OverviewChecking Process Header
*Account Requirements and Service Fees
- Maintain average collected balance of $3,000 to avoid service charge
- Requires a minimum daily balance of $1,500 or a $3,000 average investable balance throughout the statement cycle to earn interest. Interest is calculated using investable balance.
- The investable balance is calculated by using the average balance less uncollected funds, less reserve requirement and a premium assessment factor
- A $10.95 maintenance fee if minimum balance is not maintained
- $0.20 per debit posted; $0.50 per credit posted
- $0.10 per item deposited that is drawn on IBC Bank or Commerce Bank; $0.15 per item deposited that is drawn on another bank
- Postage fee based on number of enclosures
- Business Line of Credit available
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