Checking
Does your business have the resources you need? We’re just checking. First State Bank of the Florida Keys offers checking accounts for all types and sizes of businesses – including EZ Business Checking, Small Business Checking, Commercial Checking, and Business NOW Checking. Whether you’re a big corporation or a small LLC, we have a checking option designed just for you.
EZ BUSINESS CHECKING
We make checking simple. With no minimum balance and free processing of 150 items per month, it doesn't get any easier than First State Bank’s EZ Business Checking!
SMALL BUSINESS CHECKING
Big-time service for smaller companies. If your business does a limited number of transactions, but wants a bank that takes you seriously, our Small Business Checking account is just your size.
COMMERCIAL CHECKING
High volume, high value. If you’re a larger business with high transaction volume, Commercial Checking is the account for you. Use the balance in your account to help offset your account fees, and get free E-Statements or paper statements with check images.
BUSINESS NOW CHECKING
Do you qualify for Business NOW? Under Federal Law and Regulation, certain businesses and organizations are eligible to open NOW Accounts. You may qualify if you’re operating a sole proprietorship (not incorporated and not a partnership), or a non-profit organization operated for religious, philanthropic, charitable, educational, fraternal or similar purposes.
The Unlawful Internet Gambling Act of 2006 prohibits a bank from processing restricted transactions through your business account.
| Account Benefits | First State Bank EZ Business Checking |
First State Bank Small Business Checking |
First State Bank Commercial Business Checking |
First State Bank NOW Business Checking |
| Interest Bearing Account | Interest paid on collected balance less the 10% Federal Reserve requirement | |||
| Free Online Banking | ✓ one user |
✓ one user & one view user |
✓ one user & one view user |
✓ one user & one view user |
| Free E-Statements with images |
✓ | ✓ | ✓ | ✓ |
| Free Paper Statements with images |
✓ | ✓ | ||
| Free Paper Statements without images | ✓ | ✓ images available for a fee |
||
| Free Mobile Banking | ✓ | ✓ | ✓ | ✓ |
| Free Text Banking | ✓ | ✓ | ✓ | ✓ |
| Free 24-Hour TellerPhone | ✓ | ✓ | ✓ | ✓ |
| Free Business Debit Card | ✓ | ✓ | ✓ | ✓ |
| Account Details | ||||
| Minimum Opening Deposit | $250 | $250 | $250 | $250 |
| Minimum Balance to Avoid Monthly Maintenance Fee | No minimum balance required | $5,000 average collected balance |
An earnings credit is used to offset eligible fees in this account. It is calculated by applying a rate, set by the Bank and subject to change, to the positive average collected balance less an allowance for the 10% Federal Reserve requirement. | $2,500 average collected balance |
| Service Charge | $0 | $15 (if balance is not maintained) |
$15 | $15 (if balance is not maintained) |
| Items Processed Free per month | 150 | 300 | 150 | |
| Per item charges | $0.35 per item over 150 | $0.35 per item over 300 | $0.30 per deposit credited $0.15 per item paid $.10 per item deposited |
$0.35 per item over 150 |
| Management fee | Variable rate on average ledger balance. Set by Bank and subject to change. | |||
| Negative average collected balance charge | 2 percentage points above the Bank's prime rate times the negative average collected balance in the account. | 2 percentage points above the Bank's prime rate times the negative average collected balance in the account. | 2 percentage points above the Bank's prime rate times the negative average collected balance in the account. |
The Unlawful Internet Gambling Act of 2006 prohibits a bank from processing restricted transactions through your business account. Click Here for more information.
