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Business Checking

BUSINESS CHECKING

  • Limitations: You must deposit $50.00 to open this account.
  • Transaction Limitations: No transaction limitations apply to this account. Minimum daily balance of $1,000.00 is required to avoid a $15.00 service charge per statement cycle.

SMALL BUSINESS CHECKING

  • Limitations: You must deposit $100.00 to open this account.
  • Account Fees: A minimum daily balance of $1,000 is required to avoid a $15.00 service charge per statement cycle. 
  • Transaction Limitation:  A service charge of $0.15 will be applied for each deposit item after the first 100 deposit items, per statement cycle.  A fee of $0.30 will be applied after each check/ debit after the first 75 checks/ debits, per statement cycle. 

COMMERCIAL CHECKING ANALYSIS 

Commercial checking accounts are analyzed each month in order to determine the revenue earned on the account, the activity cost and the service charge to be assessed to the customer, If the activity cost exceeds the revenue earned, the net difference is assessed as a service charge.

  • Limitations: You must deposit $100.00 to open this account.
  • Account Fees: This account has a service charge of $8.00 per statement cycle. A fee of $0.40 will be assessed per debit; $0.30 per credit; $0.10 per transit item; $0.10 per on-us deposit item.  Total service charges will be reduced by $1.55 for each $10,000 of average collected balance.  Reserve percentage used to reduce crediting balance above 15%.  Service charges will not be reduced below $8.00.
  • Transaction Limitations:  No transaction limitations apply to this account.

COMMERCIAL INTEREST CHECKING

Commercial Interest Checking account s are designed for businesses and organizations that quality under federal law to earn interest.

  • Rate Information: This Account is an interest bearing account. The interest rate and annual percentage yield will depend upon the average daily balance in the account as shown on the Rate Chart. The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on the account daily. Interest begins to accrue on the business day you deposit noncash items (for example, checks). Interest will be compounded daily and will be credited to the account monthly.
  • Balance Information: We use the average daily balance method to calculate interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. Limitations: You must deposit $100.00 to open this account.
  • Account Fees: The account has a service charge of $10.00, a fee of $0.11 per debit item, and a fee of $0.30 per credit item.

 

South Carolina Community Bank
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FDIC

Equal Housing Lender