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Scheduled System Maintenance

To keep things running smoothly we will perform system maintenance from April 26 at 10:00pm to April 27 at 7:00am Central Time.  Thank you for your patience.

Small Business Checking and Savings

At Anchor Bank, we succeed when you succeed.   That's why every product we offer to small businesses is designed to help you establish a solid financial foundation to build a successful business.  We're skilled at meeting the varied interests of businesses-from the sole proprietor, professional, or partner, to the corporation and non-profit organization, so we can grow right along with your needs and give you all the financial tools necessary to make your money work for you.

Checking Accounts

Our Small Business Checking Accounts are competitively priced and offer some key benefits to suit the needs of your business. Please refer to the options listed below for detailed information regarding the product features and fees.

  Small Business Checking Business Checking Community Checking

 
Businesses with a low number of monthly transactions. Businesses looking for a generous number of free transactions. Associations and clubs withs very limited banking needs.
Free Business Debit Card5 X X X
Free Online Banking X X X
Free Email Account Alerts X X X
Bill Payment $.50 per item > 20
items each month
$.50 per item > 20
items each month
$.50 per item > 20
items each month
Free Mobile Banking X X X
Interest Option Available1 X X  
Image Statement Monthly3   $5.50 $5.50 $5.50
Free access at all MoneyPass ATMs X X X
ATM fees at non-MoneyPass ATMs6 $2.00 $2.00 $2.00
Monthly Service Fee if balance requirement not met None Average collected
balance $3,000 or
$15.00 monthly
None
Monthly Item2 Free for up to a combination of 150 deposit tickets, debits and deposited items; $0.50 per item over 150 Free for up to a combination of 500 deposit tickets, debits and deposited items; $0.50 per item over 500 None
Uncollected Funds4   Prime + 4.00% Prime + 4.00% None
Monthly Cash Deposited $.0014 per $1 deposited in  
excess of $1000
$.0014 per $1 deposited in
excess of $1000
None

 

 1Interest bearing checking accounts earn a variable interest based on the daily collected balance.  For current rate information on our interest bearing checking accounts, please contact a banker at one of our locations.

2"Deposited item" refers to each item included in a deposit.

3An image statement has images of the front and back of your cancelled checks printed on your bank statement.

4"Uncollected Funds" is the portion of your deposit not yet collected by the bank. If you use uncollected funds you will incur an uncollected funds usage fee.

5Upon credit approval.

6Does not include any applicable ATM fees charged by the ATM owner.

Overdraft Protection

Whether you’re just starting out or you’ve been in business for a while, the last thing you want to worry about is accidentally overdrawing your checking account. Anchor Bank Overdraft Protection can help you avoid the inconvenience of an overdrawn account as well as the associated fees. You can fund potential overdrafts through one of your Anchor Bank deposit, savings or credit accounts, or from a combination of accounts.

How Your Business Benefits

  • Avoid overdrawn accounts as well as insufficient funds fees
  • Available on all of our business checking accounts to cover insufficient funds
  • You decide which accounts or combination of accounts will fund potential overdrafts
  • Choose from checking, savings, money market savings, and most business credit lines for Overdraft Protection

Subject to credit approval

Debit Card

The BusinessCard gives you the convenience of a business credit card without the finance charges and monthly bills. Unlike a credit card, payments for purchases are automatically deducted from your primary business checking account, so it's a safe and easy way to access funds you need without keeping a lot of cash in your wallet.

How it works for you
Simply present the BusinessCard at the time of purchase. In most cases, you can select the credit (signature) option to make your purchases. You may need to select the ‘credit’ or ‘cancel’ button for this option. Some merchants may require a debit (PIN) for purchases. If this occurs, you simply enter your PIN number to compete the transaction. This PIN is the same four-ditgit code as your ATM PIN. You may use all MoneyPass® ATMs to withdraw cash surcharge-free. MoneyPass has over 22,000 ATMs across the United States. To locate a MoneyPass ATM go to www.moneypass.com. Each transaction will appear on your monthly statement. However, instead of only seeing a check number and amount, when you use the BusinessCard, you see the amount of the transaction and the location where the purchase was made. You can even access up-to-the-minute transaction information via AnchorLink® or AnchorLine®.

Key benefits to your business
• Convenience – The BusinessCard can be used everywhere MasterCard credit cards are accepted. It is faster than writing checks, more convenient than cash, and no need to carry around a checkbook. The BusinessCard can also be used for Internet purchases or to pay bills via the telephone.
• Save money – With a credit card you receive a monthly bill and often have to pay interest charges for using the card. When you use the BusinessCard, the money is deducted from your checking account–no monthly bills or interest to pay.
• Save time – Just “swipe and go” when paying at participating merchants. There's no need to write checks or wait for check approvals. Plus, you won't need to spend time reconciling the petty cash account.
• Better tracking and reporting – The BusinessCard makes it easier to monitor employee spending, identify potential tax deductions, and fill out expense reports. All purchases are itemized on your monthly checking account statement and timely transaction information is available via AnchorLink and AnchorLine. Your statements and reports provide a way to separate business from personal expenses and provide your business with a clear paper trail and documentation.

You can also use your Business Debit Card at any MoneyPass ATM to withdraw cash and make deposits at US Bank ATMs without any surcharges. Locate any of the over 20,000 MoneyPass ATMs across the United States by visiting www.moneypass.com.

Savings Account

With competitive interest rates and low minimum balances, choosing a Business Savings Account through Anchor is a step in the right direction. You can allow your cash to grow in a secure yet accessible location while you decide how to invest it.

 


 
Business Savings Business Money Market Savings
  A convenient account for your money while it earns interest. A high-yield money market account with the option to write checks.
Earns interest1 $0 - $4,999.99
$5,000+
$0 - $14,999.99
$15,000 - $99,999.99
$100,000 - $149,999.99
$150,000+
Free eStatement X X
Use for Overdraft Protection on Checking2 $11.00 per transfer $11.00 per transfer
Free Online Banking X X
Free Email Account Alerts X X
Free access at all MoneyPass ATMs X X
ATM fees at non-MoneyPass ATMs3 $2.00 $2.00
Check access2   X
Withdrawal fee after first 6 per month $4.50 per withdrawal $4.50 per withdrawal
Balance Requirement $300 minimum $15,000 minimum
Monthly Service Fee if balance requirement not met $6.00 $30.00

 

1Variable interest earned on the daily collected balance and paid quarterly on Business Savings and paid monthly on Business Money Market Savings. For current rate information on our interest bearing savings accounts, please contact a banker at one of our
locations.

2During any calendar month 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 check, draft, debit card or similar order to a third party.

3Does not include any applicable ATM fees charged by ATM owner.

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