OptimumBank offers its customers the right solutions to meet your financial needs today and in the future. Different size businesses call for different types of checking accounts.
Commercial Checking
Requirements:
- $100 minimum deposit to Open Account
- No minimum balance
Features
- Receive credit against service charges. Calculation is based on the average collected balance in your account for the month minus 10% for reserve requirements multiplied by the earning credit rate. (The earnings credit rate is based on 4-week average of 90 day T-Bill auction results)
- FDIC insured
Fees:
- $25.00 per month maintenance fee
Monthly Item Charges:
- 15¢ per deposited item
- 15¢ per checks and debits paid
- 30¢ per deposits and credits
- $15.00 early closure fee (first 90 days)
Small Business Checking
Requirements:
- $100 minimum deposit to Open Account
- $500 average daily balance to avoid Maintenance Fee
Features:
- No charge for deposits
- No charge on first 100 checks written; 10¢ each thereafter
- FDIC insured
Fees:
- $20.00 per month maintenance fee below minimum
- $15.00 for account closing within 90 days
Not For Profit Checking
Requirements:
- $100 minimum deposit to Open Account
- $500 average daily balance to avoid Maintenance Fee
Features:
- No charge for writing checks
- Competitive Interest Rate tiered by account balance, compounded daily, paid monthly
- Free first order of checks
- FDIC insured
Fees:
- $10.00 per month maintenance fee below minimum
- $15.00 for account closing within 90 days
Money Market Checking
Requirements:
- $1000 minimum deposit to Open Account
- $1000 minimum balance to Earn Interest (Note: You must maintain a minimum balance of $1,000.00 in the account each day to obtain the disclosed annual percentage yield.)
Features:
- No monthly maintenance fee when you maintain a $1,000.00 average daily balance or when you have direct deposit
- Interest Rate tiered by account balance, compounded daily, paid monthly
- Free first order of checks
- FDIC Insured
Fees:
$20.00 monthly maintenance fee
Restrictions and Penalties:
Transaction limitations. During any monthly statement cycle, 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 similar order to a third party.
An excess transaction fee of $10.00 will be charged for each debit transactions (withdrawal, check paid, automatic transfer or payment out of this account) in excess of six during a statement cycle.