Business Checking Accounts
We offer a wide array of checking accounts to suit your specific business needs. From the Business Basic account—a perfect solution for small Vermont businesses looking to simplify their checking, to the standard Business Checking account—ideal for larger companies that make a large volume of transactions, you’ll find it all with VBiz. We even have accounts tailored just for your Small Business Checking or Nonprofit Checking needs.
Business Basic Checking
At VSECU, we keep our Business Basic Checking account, well, basic! There are not a lot of guidelines to remember it’s just simple, easy, basic checking for your small business, community organization, or nonprofit. A checking account with a limited number of transactions and no monthly fees for less than 25 items, this account is perfect for small Vermont businesses looking to simplify their checking. Details of our business basic checking account include:
NO MONTHLY FEE
Free checking and no monthly fees if less than 25 transactions.
$100 TO OPEN ACCT
A $100 deposit is required to open an account.
NO DIVIDENDS EARNED
This checking account does not earn dividends.
FREE VISA CHECK CARD
Free business debit card for all your business’ needs.
FREE CREDIT/DEBIT ITEMS
Up to 25 free credit/debit items per month.
$.25 ADDITIONAL ITEMS
After the first 25, credit/debit items are only $.25.
SERVICE FEES
$6 monthly fee if you exceed 25 transactions/month.
RATES
| Type | APY | Minimum Daily Balance to Earn APY | Minimum Opening Deposit | Minimum Daily Balance to Avoid Fee | Below Minimum Balance Fee | Monthly Transaction Fee | Monthly Fee |
|---|---|---|---|---|---|---|---|
| Business Basic Checking | None | None | $100 | None | None | $.25/item; first 25 free | $6 per month (waived if less than 26 debit and/or credit items per month) |
Annual Percentage Yields effective as of 11/7/2016 and may change after account opening.
Business Nonprofit Checking
The perfect solution to your nonprofit business’ checking needs. The Business Nonprofit Checking account is for nonprofits that require more transactions per month than are offered by our Business Basic Checking. This account pays higher dividends in a tiered format to increase your return.
DETAILS
TIERED INTEREST
Tiered interest structure rewards larger balances.
NO FEES IF FUNDS >$4K
$6 monthly fee waived when the aggregate balance of your deposit and loan accounts is $4,000 or more.
$100 TO OPEN ACCT
The minimum deposit to open an account is $100.
HIGHER DIVIDENDS
Our tiered structure enables you to earn higher dividends on larger balances.
FREE VISA CHECK CARD
Account benefits include a free Visa check card.
FREE CREDIT/DEBIT ITEMS
No transaction service fee is charged for the first 200 debit or credit items/month.
>200 ITEMS ARE $.25ea
After the first 200 monthly transactions, a $.25 is applied to each debit/credit item.
RATES
| Tier | APY | Minimum Daily Balance to Open Account and Earn APY | Minimum Daily Balance to Avoid Fee | Below Minimum Balance Fee | Transaction Fee | Monthly Fee |
|---|---|---|---|---|---|---|
| $100 – $999.99 | 0.05% | $100 | None | None | $.25/item; first 200 free | $6 (waived if $4,000 aggregate deposit and loan balance maintained) |
| $1,000 – $4,999.99 | 0.05% | $100 | None | None | $.25/item; first 200 free | $6 (waived if $4,000 aggregate deposit and loan balance maintained) |
| $5,000 – $9,999.99 | 0.10% | $100 | None | None | $.25/item; first 200 free | $6 (waived if $4,000 aggregate deposit and loan balance maintained) |
| $10,000 – $24,999.99 | 0.10% | $100 | None | None | $.25/item; first 200 free | $6 (waived if $4,000 aggregate deposit and loan balance maintained) |
| $25,000 and over | 0.20% | $100 | None | None | $.25/item; first 200 free | $6 (waived if $4,000 aggregate deposit and loan balance maintained) |
Annual Percentage Yields effective as of 11/7/2016 and may change after account opening.
Small Business Checking
The Small Business Checking account is ideal for businesses whose needs are beyond basic but still considered a small business. Dividends are paid on balances in a tiered structure so you know you are getting the best return for your money as your balance changes without having to do any administrative work to make it happen.
DETAILS
TIERED INTEREST
Tiered interest structure rewards larger balances.
NO FEES IF FUNDS >$7.5K
$6 monthly fee waived when the aggregate balance of your deposit and loan accounts is $7,500 or more.
$100 TO OPEN ACCT
The minimum deposit to open an account is $100.
FREE DEBIT CARD
This account includes a free debit card and online account access
FREE CREDIT/DEBIT ITEMS
No transaction service fee is charged for the first 200 debit or credit items/month.
RATES
| Type | APY | Minimum Daily Balance to Earn APY | Minimum Opening Deposit | Minimum Daily Balance to Avoid Fee | Below Minimum Balance Fee | Monthly Transaction Fee | Monthly Fee |
|---|---|---|---|---|---|---|---|
| Tier 1: $1,000 – $4,999.99 | 0.05% | $1,000 | $100 | None | None | $.25/item; first 200 free | $6 (waived if $7,500 aggregate deposit and loan balance maintained) |
| Tier 2: $5,000 – $9,999.99 | 0.05% | $1,000 | $100 | None | None | $.25/item; first 200 free | $6 (waived if $7,500 aggregate deposit and loan balance maintained) |
| Tier 3: $10,000 – $24,999.99 | 0.10% | $1,000 | $100 | None | None | $.25/item; first 200 free | $6 (waived if $7,500 aggregate deposit and loan balance maintained) |
| Tier 4: $25,000 and over | 0.15% | $1,000 | $100 | None | None | $.25/item; first 200 free | $6 (waived if $7,500 aggregate deposit and loan balance maintained) |
Annual Percentage Yields effective as of 11/7/2016 and may change after account opening.
Business Checking
Is your money doing everything it can? VSECU is here to help. Our Business Checking account allows businesses with higher volumes to receive the maximum return for funds invested. Earnings are compounded and credited monthly. For Vermont-based businesses that need a little more from their checking accounts, our Business Checking account has tiered dividend rates so larger balances receive higher monthly dividends. Low monthly transactions and fees make this account a great choice.
DETAILS
TIERED INTEREST
Tiered interest structure rewards larger balances.
FREE VISA CHECK CARD
Account benefits include a free Visa check card and zero liability.
FREE ONLINE BANKING
Free Online Banking includes eStatements, and check imaging.
$.12 TRANSACTION FEE
The fee for credit and debit transactions is $.12
RATES
| Type | APY | Minimum Daily Balance to Earn APY | Minimum Opening Deposit | Minimum Daily Balance to Avoid Fee | Below Minimum Balance Fee | Monthly Transaction Fee | Monthly Fee |
|---|---|---|---|---|---|---|---|
| Tier 1: $1,000 – $4,999.99 | 0.05% | $1,000 | $100 | None | None | $.12/item | $6 |
| Tier 2: $5,000 – $9,999.99 | 0.05% | $1,000 | $100 | None | None | $.12/item | $6 |
| Tier 3: $10,000 – $24,999.99 | 0.10% | $1,000 | $100 | None | None | $.12/item | $6 |
| Tier 4: $25,000 and over | 0.15% | $1,000 | $100 | None | None | $.12/item | $6 |
Annual Percentage Yields effective as of 11/7/2016 and may change after account opening.
You can apply for all of our business deposit products by completing and mailing in the forms below or in person at any branch location.
Business Member Service Agreement Part 1Business Member Service Agreement Part 1 – Page 2
If you would like to learn more about our VBiz team and our business products/services, or would like assistance beginning the application process, please visit the About VBiz page for more information.
See how simple your business’s finances can be, contact us today about opening a VBiz business savings account. If you would like to know more about VBiz products and services or would like to begin the application process please contact the VBiz team by clicking here.
