Evergreen Commercial Checking
Get a business checking account with all the extras!
Evergreen Bank Group's Commercial Checking account comes with a detailed account analysis and an Earnings Credit Rate to offset fees.
- Summary
Account Analysis
Account analysis allows a business to offset fees and service charges by maintaining compensating balances. Instead of an account being "hard charged" and debited for services throughout the month, a running total, called "soft charges" is kept. At the end of the month, the customer receives an earnings credit based on the average collected balance in the account.
Earnings Credit Summary
An earnings credit rate, based on the Fed Discount Rate, is applied to the average collected balance to calculate the earnings value of the investable balance on an account. The net activity charges are then compared to the earnings value of the average collected balance described above.
If the amount of the earnings credit is greater than the soft charge total, no fees are deducted that month. If the amount of the earnings credit is less than the soft charge total, the remaining fees will be deducted from the account balance.
- Terms
If account is closed within 90 days, a $50 account closing fee will apply.
All accounts subject to credit approval. Other terms and conditions may apply. For more information, please contact an Executive Banker at your local branch.
