Commercial Checking Account

• Minimum balance to open: $100.
• A monthly maintenance fee of $10.00 will be imposed every statement cycle if the balance in the account falls below $5,000 any day of the cycle.
• Per debit item fee $.15 (withdrawal, check paid, automatic transfer or payment out of this account)
• ACH debit per item fee: $.15
• ACH credit per item fee: $.20
• Direct Deposit fee: $.20
• Deposited item charge - on us: $.05
• Deposited item fee - local: $.10
• Deposited item fee - non-local: $.10
• Earnings credit may offset monthly fee

Business NOW Account

• Eligibility: Only for sole proprietors, nonprofit organizations and public funds deposit.
• Minimum balance to open: $100.
• Minimum balance to obtain annual percentage yield disclosed: $1,000 each day.
• Rate information:
  • Interest rate and annual percentage yield may change at any time.
  • Interest compounded every month and credited to your account.
  • If account closed before interest is credited, account will not receive accrued interest.
• Minimum balance to avoid imposition of fees: $1,000 any day of the cycle.
• Fees:
  • Monthly maintenance fee of $10 imposed every statement if balance falls below $1,000 any day of the cycle.
  • Daily balance computation method used to calculate interest on account.
  • Interest accrues on the business day noncash items (e.g., checks) deposited.

Business Money Market Account

• Minimum balance to open: $1,000 at any time.
• Minimum balance to obtain annual percentage yield disclosed: $1,000 each day.
• Rate information:
  • Interest rate and annual percentage yield may change.
  • Interest compounded every month and credited to your account.
  • If account closed before interest is credited, account will not receive accrued interest.
• Minimum balance to avoid imposition of fees: $1,000.
• Fees:
  • Monthly maintenance fee of $10 imposed every statement if balance falls below $1,000 any day of the cycle.
• Daily balance computation method used to calculate interest on account.
• Interest accrues on the business day noncash items (e.g., checks) deposited.
• Transaction limitations: transfers to another account or to third parties by preauthorized, automatic or telephone transfer are limited to six per monthly statement cycle with no more than three by check, draft or similar order to third parties.
  • Excess check fee of $10 charged for each item in excess of three third-party items during a statement cycle.

Royal D - Overdraft Protection

Douglass National Bank offers a “Credit Reserve Program” with overdraft protection for checks for both businesses and individuals. “Royal D” is set up as an unsecured loan with a 17 percent interest rate (interest accrues on a daily basis). A customer applies by completing an application. The minimum amount of credit reserve is $500; maximum amount, $5,000.

How the program works:

• Customer’s insufficient check or debit is presented against the account.
• A credit is automatically generated in $100 increments to credit the customer’s account to cover the presented item.
• The customer’s check(s) are paid, and no insufficient fees are charged to the customer.
• Checks will be paid up to the available credit limit. For example, if the customer has credit availability of $200, and there are six (6) $50 checks presented for payment, the system will pay four (4) of the $50 checks totaling $200 and return the other two (2), or if two checks are presented for $150 each, the system would pay one of the $150 checks and return the other. If the same credit ($200) is available, and a $300 check is presented, the check for $300 will be returned insufficient.
• 7.5 percent of the unpaid balance or a minimum of $20 is the payment amount due on the first day of every month.