COMMERCIAL ACCOUNT ANALYSIS
Sun American Bank provides our business and professional clients the option to minimize and/or eliminate a majority of their banking fees and charges. Your Sun American Bank commercial analysis account is designed to provide earnings credit based on compensating balances maintained. This account is designed for clients who maintain significant balances and a high volume of monthly transactions. Your Sun American Bank financial specialist will complete a detailed assessment of your current banking products and services to determine if the analysis account is the most appropriate solution. In today’s business environment it is important for every business owner and professional to utilize the most appropriate banking solutions that meet their specific needs. Sun American Bank’s Commercial Analysis Account is one of those services that provide your business with the opportunity to reduce your monthly fees and service charge.
Minimum Account Opening Balance - $1,000
Minimum Balance to Achieve Benefits - $ 50,000
Free Online Banking
Free Online Bill Payment
Bank-By-Mail
Unlimited Transactions
Free Business Debit Card
Detailed Monthly Bank statement of transactions
Multiple accounts can benefit from the compensating balance feature
MONTHLY SERVICE FEES
Monthly Fees and per transaction Fees can be absorbed based on Earnings Credit:
Statement Service Fee: $15.00 (1)
Per Check Paid fee: $0.20
Per Deposited Check Fee: $0.12
Per Deposit Slip Fee: $0.30
No Monthly Service Fees with $5,000 Minimum Daily Balance
(1) An"Earning Credit" based on the monthly average collected balance (less reserve of 10%) will be granted and applied to offset the assessed service charge. The "Earning Credit" is calculated using the most recent "91 Days T Bill Rate." If the "Earning Credit" is higher than the service charge, you will be assessed fees but you will not be paid, carry forward or otherwise receive credit for any excess earning credit. If the "Earning Credit" does not offset completely the service charge, the net difference will be assessed and charged to the account.
(2) Subject to credit approval. No Annual Fee option available on Visa card.
