Simply Business Savings
It Pays to Save
A Commercial Tiered Money Market account. The ideal place to invest surplus business funds. Higher interest rates. No service charge, with a $2,500 minimum balance. Your interest rate increases as you deposit more into the account. Another advantage? Your savings are liquid. Should you have an unforeseen expense? Withdraw funds via transfer or check.
Uncomplicate your business life.
Open an account for as little as $50. Withdraw. Transfer. It’s simply gratifying.
Simply Business Savings
- $50.00 to open
- Below $50.00 – $15 service charge per quarter
- 6 withdrawals and/or transfers per month
Simply Commercial Money Market
- $2,500.00 to open to avoid Service Charge
- Below $2,500.00 – $10 monthly fee • 6 withdrawals and/or transfers per month
- Interest Rate Tiers
- ATM Card (Simply Savings only)
- Online Banking
- Mobile Banking
- Mobile Capture
- Direct Deposit
- 24 Hour Telephone Banker
- Paper Checks (Simply Money Market only)
- Automatic Transfer Service
- Safe Deposit Box
Why Business Savings?
The world of business is unpredictable. You can’t anticipate a drop in sales or business-related repairs. Those savings could come in handy. Money in a business savings account also boosts your credit rating, improving your chances of getting a loan, should you need one. When tax season rolls around, your Simply Business Savings account could cover your quarterly or yearly taxes. You earn higher interest on your savings. Savings that are insured safe up to $250,000 by the FDIC. Open a Simply Business Savings account today. Put your money to work. You work hard to make it. Make it work hard for you.
A commercial-tiered money market account that’s all about interest. Maintain a $2,500 balance. Earn higher interest as your balance grows. Park cash. Receipts. Your money is safe. Invested in T-bills, savings bonds, and CDs. You also have access to online banking and bill pay. Simply Business savings is simply made for business.
You must have a Taxpayer Identification Number to open an account with SimplyBank. The following documents are acceptable for bank verification required when opening account:
- Driver’s License – first choice of identification
- Certified articles of incorporation, including LLCs
- Operating Agreement
- A government-issued business license
- A partnership agreement – if applicable
- Trust Agreement
Beneficial ownership and control information must be collected for all new business accounts beginning May 11, 2018. An individual is a beneficial owner if they own 25% or more of the business entity. The control is the individual who has significant responsibility for managing or directing the entity on a regular basis. A New Business Account Questionnaire will be completed at account opening that collects information regarding business type, transactional behavior, privately owned ATMs, etc.
Includes Sole Proprietor, Single Member LLC, Partnerships, LLCs, Corporations, and Trusts.
Transactions restricted by the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA) are prohibited from being processed through any commercial account. This prohibition became effective on June 1, 2010. Additional information can be obtained at (423) 365-8400.