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REGULAR BUSINESS CHECKING
- $100 Minimum to Open
- $2,000 minimum daily balance to avoid monthly Maintenance Fee of $10
- Minimum daily balace requirement waived for non-profit organizations
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BUSINESS INTEREST CHECKING
- $100 Minimum to Open
- $2,500 minimum daily balance to avoid monthly Maintenance Fee of $12
- By law, available to only sole proprietorships and non-profit organizations.
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VOLUME BUSINESS CHECKING
- This is a high activity account as determined by bank. Generally, high activity is over 250 items per month (deposits of checks/debits) and/or coin and currency deposits exceeding $2,500 per month and/or more than 5 straps of currency purchased per month.
- Please ask for details
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FREE BUSINESS CHECKING
- For small businesses
- $50 opening deposit
- No minimum balance
- No monthly maintenance fee
- Free transactions ($.25 for over 150 combined items per month)*
- Free cash processing ($2.00 for each thousand over $5,000 per month)**
- Free Internet Banking and Bill Pay
- Free Automated Telephone Banking
- Free Business Check Card***
- Unlimited use of Cherokee Bank’s ATM
* Items include credits, debits, ACH credits, ACH debits, on us deposit items, local deposit items, Fed deposit items, and foreign ATM withdrawals.
** Cash credits only.
*** Issued only with the business account name on first line and account signature names on the second line.
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BUSINESS SAVINGS ACCOUNT
- $100 Minimum to Open
- $250 minimum daily balance to avoid quarterly service charge of $7
- 6 Free withdrawals per quarter
- Additional withdrawals $5 Each
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BUSINESS INSURED MONEY MARKET
- $100 Minimum to Open
- $2,000 minimum balance to avoid quarterly Maintenance Fee
of $10
- 6 withdrawals per month (3 may be by check)
- Additional withdrawals $10 each
- Higher rate for balances over $100,000
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Important Information about Procedures for Opening a New Account
Federal Law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account.
What this means for you: When you open an account, we will ask for your name, address, date of birth and other information that will allow us to identify you. We will also ask to see your driver's license or other identifying documents.
In order for Cherokee Bank to form a reasonable belief that the true identity of each client is known, we request that you personally visit one of our office locations to open an account.
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