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Chesapeake Bank's Small Business Checking is an inexpensive account specifically designed for businesses with low levels of account activity. This is an unlimited transaction account that is available to all forms of business ownership. A $1,000 minimum daily balance is required to avoid the monthly maintenance fee of $10.00. The fee structure is listed below:
| Monthly Maintenance Fee |
$10.00 |
| Minimum Opening Balance |
$0 |
| Minimum Daily Balance |
$1,000.00 (to waive fee) |
| First 250 checks paid, checks
deposited, deposit slips,
ACH debits/credits free |
$ .20 per item thereafter |
| Rolled Coin |
$ .10 per roll |
| Strapped Currency |
$ .50 per strap |
| Night Deposit Bags (refundable) |
$25.00 |
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Corporate Checking is designed for businesses with higher average balances and with higher volume checking activity. This is a non-interest bearing account with no minimum balance requirement and no transaction limitations. Monthly maintenance fees may be offset by any earnings credit based on the 90 day T-bill rate. This account is available to all forms of business ownership. The fee structure is outlined below:
| Monthly Maintenance Fee |
$10.00 |
| Minimum Opening Balance |
$0 |
| Minimum Daily Balance |
N/A |
| Earnings Credit |
Tied to the 90-day T-Bill |
| Activity for checks paid, checks
deposited, deposit slips, ACH debits/credits
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$ .10 per item |
| Rolled Coin |
$ .10 per roll |
| Strapped Currency |
$ .50 per strap |
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Overdraft line of credit tied to operating account
Unsecured line of credit from $500.00 to $10,000.00*
*Subject to credit approval
Interest Rate 17.90%
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