They wear suits, we wear boots.
Doing business is easier with a local partner you can trust.
At Security State Bank & Trust, you’ll have bankers, not just a bank – people who get to know you and your business and can guide you through complicated hurdles in cash flow, loans and merchant services.
And it often starts with simple checking.
Description The best rates for people who can maintain a minimum balance. A simple option with no monthly fee and no minimum balance.
Business checking accounts at Security State Bank & Trust
| Simply Free Business Checking | Business Interest Checking | Commercial Business Checking | |
| Description | Simply Free Business Checking | Designed for sole proprietorships and not-for-profits. | For businesses with more complex banking needs; available to all business entities. For businesses with more complex needs; includes earnings credit allowance; is available to all business entities. |
| Minimum deposit to open | $50 | $50 | $50 |
| Monthly service charge | None | $10 | $12 |
| Minimum balance to avoid fees | None | $1,000 You have until the last business day of the month in which the account is opened to meet the minimum balance requirements. | N/A |
| Other fees | None except in case of overdraft | None except in case of overdraft | Note: Fees may be offset by your earnings credit allowance on deposit balances1 |
| Free Mobile and Online Banking, including mobile deposits with the SSB&T Mobile App | ★ | ★ | ★ |
| Free electronic or paper statements | ★ | ★ | ★ |
| Free Debit Card | ★ | ★ | ★ |
| 1,000 free monthly transaction items | ★ | ★ |
1. The value of your balance is determined by applying an earnings credit rate to the average investable balance in the account. This is called “earnings credit.” The earnings credit rate is based on current market rate and is subject to change monthly. The investable balance is calculated by deducting the reserve assessment from your average collected balance. The cost of your services is determined monthly based on this fee schedule. At the end of the month, the Bank compares your earnings credit to the total cost of services. If the earnings credit is in excess of your cost, there is no service charge. If the earnings credit is less than the cost of services, the difference will be your service charge.
Deposits will be insured by the FDIC up to the standard maximum deposit insurance amount ($250,000.00), for each deposit insurance ownership category. For more information, visit www.fdic.gov.
Additional fees for money service / financial institutions
If your business provides check cashing, currency exchange, loans, investments, risk pooling, or similar finance-related products and services, your account may be subject to these additional fees.
- Money Service Business (MSB) Account Monthly Service Fee: $200.00
- Non-Bank Financial Institution (NBFI) Account Monthly Service Fee: $100.00
Open a business checking account
Benefits with every business checking account
Debit card
Issued to you instantly, with the power to freeze the card if it gets lost or stolen.
Mobile and Online Banking
Manage your money from your phone or any device that has internet access.
Mobile wallet
Enjoy contactless pay for items at stores, restaurants and more from your phone.
Overdraft services
- Overdraft Coverage PLUS
- Included free with every business checking account
- Strives to cover overdrawn debit transactions, checks and ACHs (at our discretion) until you can cover them
- $30 fee for each overdraft covered
- No cost if you never overdraw
- Overdraft Transfer
- Opt in for free
- Covers overdrafts by transferring money from another account of your choice
- $7 fee for each overdraft transfer
- No cost if you never overdraw
Everyone is exceptionally pleasant, professional, accurate in their responsibilities and conscious of every customer’s requests and needs.
Other business products and services
- Rolled Coins and Coin Wraps
- Strapped Currency
- Cashiers Checks
- Safe Deposit Services (where available)
- Wire Transfers
- Gift Cards
- Merchant Capture
