If you have surplus cash or need a cushion for your Business Checking Account, consider Community State Bank’s Business Savings Account. You can withdraw funds as many as six times per month automatically or by phone, and in-person withdrawals are unlimited.
Benefits of our Business Savings Accounts
- Minimum balance to open: $100
- Minimum daily balance: $200
- No monthly maintenance fees if minimum daily balance is maintained1
- Interest earning2
- 4 automatic debits allowed per month ($1 for each additional debit)3
- Unlimited in-person withdrawals
1. If minimum daily balance is not maintained, a $3 monthly maintenance fee will be charged.
2. No interest is earned (per day) if minimum daily balance is not maintained.
3. Federal regulations limit this account to 6 authorized phone or internet transfers per month. The minimal withdrawal amount is $100.
Business Savings Account Calculator
Important Information About Opening a Legal Entity Account
Effective May 11, 2018, new rules under the Bank Secrecy Act will aid the government in the fight against crimes to evade financial measures designed to combat terrorism and other national security threats.
Each time an account is opened for a covered Legal Entity, we are required to ask you for identifying information (names, address, date of birth, Social Security number as well as identification documents) for:
- Each individual that has beneficial ownership (25% or more); and,
- One individual that has significant managerial control, of the Legal Entity.
If you are opening an account on behalf of a Legal Entity, you will be required to provide the appropriate documentation and to certify that this information is true and accurate to the best of your knowledge.
We proudly support all efforts to protect and maintain the security of our customers and our country.