Business Checking Accounts
Free Business Checking
- $50.00 minimum deposit to open account
- No monthly service charge
- No minimum balance requirement
- Unlimited deposit items
- Business Cash Management services available
- 24/7 Center Voice phone access
- Free Town Square Bank Business VisaŽ Check card
- Itemized monthly statement
- Merchant services available
- Coin counting at no charge
- Available to Businesses that write 350 checks or less per month, a fee of $0.35 will be charged per item in excess of 350 items
High Volume Business Checking
- $50.00 minimum deposit to open account
- Low monthly maintenance fee
- No minimum balance requirement
- Business Cash Management services available
- 24/7 Center Voice phone access
- Free Town Square Bank Business VisaŽ Check card
- Itemized monthly statement with check images
- Merchant services available
- Coin counting at no charge
- A monthly maintenance fee of $12.00 will be charged each statement cycle. A per debit fee of $0.15 will be charged for each debit transaction during a statement cycle. A deposited item fee of $0.06 will be charged for each item during a statement cycle.
- This account features an earnings credit which is applied to reduce or eliminate fees on the account. If the earnings credit exceeds the fees for any period, you will be assessed no fees but you will not be paid, carry forward or otherwise receive credit for any excess earnings credit.
Business Money Market Deposit Account
- Business Cash Management services available; Fees may apply depending on level of service requested
- 24/7 Center Voice phone access
- There is $2,500 minimum deposit to open this account. You must maintain a balance of $2,500 each day or no interest will be earned for the statement cycle. Additionally, a $20 fee will be imposed each statement cycle the balance falls below $2,500.
- We use the daily balance computation method to calculate the interest on your Money Market Account. This method applies a daily periodic rate to the principal in the Account each day.
- Interest on the Money Market Account is compounded daily on a 365 day basis. Interest earned will be credited to your Account on a monthly basis. If you close your Account before interest is credited, you will not receive the accrued interest.
- No more than a total of six (6) transfers/withdrawals (including telephone and pre-authorized transfers) may be made from your account during each monthly statement cycle. A maximum of three (3) of the six allowable transfers/withdrawals may be made by check, draft, or point of sale. The date we receive the instrument for payment is considered the date of transfer/withdrawal.
Withdrawals or transfers by mail, in person at one of our offices, and through an ATM are unlimited and are not subject to the 6 transfer withdrawal limitation. Transfers/withdrawals in excess of the 6 transfer/withdrawal limitation as described above will be subject to a service charge of $20.00 per item. Additionally, if excessive withdrawals occur, we may either change your Money Market Account (with advance notice) to a checking account or close your account.
