Business Checking

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

View Current Interest Rates

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.