PINE ISLAND BANK OFFERS 4 DIFFERENT BUSINESS CHECKING OPTIONS: 
 
 
BUSINESS CHECKING: 
  • For small volume accounts
  • No fee for first 100 debit items*, then $0.15 per debit item paid during the statement cycle
  • No fee for first 100 checks deposited, then $0.15 per check deposited during the statement cycle
  • $5.00 monthly service charge if a minimum balance of $1,000 is not maintained each day during the statement cycle
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    COMMERCIAL CHECKING: 
  • For large volume, larger balance
  • $0.15 per debit item* paid during the statement cycle
  • $0.05 for each on-us check deposited (On-us checks are checks drawn on Pine Island Bank)
  • $0.08 for each not-on-us check deposited (Not-on-us checks are checks drawn on other banks)
  • $9.00 monthly service charge each statement cycle
  • Pine Island Bank pays the account an earnings credit** of .100% on the average daily balance to offset the service charge. (Example:  If the collected balance is $100,000, the account will be paid up to $100 to offset the charges.
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    INTEREST BUSINESS CHECKING: 
  • Only Non-Profits, Public Funds, and Sole Proprietors qualify for this account
  • No fee for first 100 debit items*, then $0.15 per debit item paid during the statement cycle
  • No fee for first 100 checks deposited, then $0.15 per check deposited during the statement cycle
  • $7.00 monthly service charge if a minimum balance of $2,500 is not maintained each day of the statement cycle
  • If an average daily balance of $2,500 is maintained in the account, the account will earn interest
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    BUSINESS FREE CHECKING: 
  • Only Non-Profits, Public Funds, and Sole Proprietors qualify for this account
  • No minimum balance
  • No interest earned or earnings credit
  • No monthly fees
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    *A debit item includes any withdrawal, check paid, ACH, debit or cash card transaction, or any other type of payment out of the account, except internal transfers and payments 
     
    **The earnings credit reduces or eliminates the monthly fees.  If the earnings credit exceeds the fees for any period, the fees will be waived, but the account will not be paid, have credit carried forward, or otherwise receive credit for any excess earnings credit. 
     
    For Current Interest Rates,                     CLICK HERE. 
     
    FOR DEBIT CARD INFORMATION,                         CLICK HERE. 
    ALL BUSINESS CHECKING ACCOUNTS ALSO HAVE THE FOLLOWING FEATURES/OPTIONS: 
  • Monthly statements
  • Automated payroll
  • Night drop
  • Bank by mail
  • Online banking
  • Online check re-ordering
  • Merchant card services
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