Business Checking Account

Earnings Credit – This account features an earnings credit which is applied to reduce or eliminate fees on the account. If the earnings credit exceeds the fees for any period, you will be assessed no fees but you will not be paid or receive credit for any excess earnings credit.

Earnings Credit Calculation – The earnings credit will be calculated by applying the daily periodic earnings credit rate to the principal in the account each day of the period. The daily periodic earnings credit rate is based on the four week average of the 13-week Treasury Bill rate for the previous month, divided by 365. The daily periodic earnings credit rate may change as often as monthly. For example, if the daily periodic earnings credit rate is .0085% and the balance on one day is $9,760, the amount of the earnings credit for the day is approximately $0.83.

Accrual of earnings credit on noncash deposits – Earnings credit begins to accrue no later than the business day on which we receive credit for the deposit of noncash items (for example, checks).

Fees
A monthly maintenance fee of $12.00 will be charged each statement cycle
A per debit item fee of $.14 will be charged for each check paid.
A per item fee of $.09 will be charged for each item deposited.

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Business NOW Account
This account is available to all businesses that qualify for an interest-bearing checking account.

Rate information – The interest rate is variable and may change as often as daily.

Compounding and crediting frequency – Interest will be compounded daily and will be credited to your account monthly.

Effect of closing an account – If you close your account before interest is credited, you will not receive the accrued interest.

Minimum balance to avoid imposition of fees – A monthly maintenance fee of $12.00 will be imposed every statement cycle unless you maintain either a minimum daily balance of $1,000 .00 or a minimum average daily balance of $2,000.00 for the monthly statement cycle. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.

Daily balance computation method – The interest on your account will be calculated by applying a daily periodic rate to the available balance in the account.

Accrual of interest on noncash deposits – Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

Fees
A per item fee of $.09 will be charged for each item deposited.
A per debit item fee of $.14 will be charged for each debit paid.

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Business Money Market Account
Heritage Bank's Business Money Market Account is a way for your business to earn interest on deposit funds. However, the number of pre-authorized withdrawals permitted each month is limited, and only three third-party checks may be written per month. A fee of $.09 will be charged for each item deposited