Select Analysis Checking
Select Analysis Checking provides customers with an earnings credit on the account’s available balance to offset activity charges. Plus, the monthly analysis statement provides detailed information regarding the activity in the account.
How are earnings credits determined? First we calculate the account’s average daily balance. Then we subtract the average daily uncollected funds (the float) to arrive at an average daily collected balance. From this, we deduct the Federal Reserve Bank’s reserve requirement1 to arrive at the average daily balance available for the earnings credit.2 The earnings rate will be applied to the account’s average daily available balance and will generate a monthly earnings credit to the account. This earnings credit will be used to offset activity charges before they are applied to the Select Analysis Checking account.
Fees that apply to the Select Analysis Checking account are determined as follows:
| Account Maintenance Fee Per Statement Cycle | $10.00 |
| Checks Written and Other Debits | $0.10 per item |
| Items in Deposit | $0.06 per item |
| Negative Collected Balance | Prime plus 2% |
| Rolled Coin | $ 0.06 per roll |
| Currency Transactions (Deposits and Orders) | $ 0.70 per thousand |
No Matter what the size of your business, Community & Southern Bank is ready to help you decide which commercial checking account is best for you. See one of our friendly professional bankers today! They are ready to help you with your business checking needs.
1) Subject to regulatory requirement charges
2) The earnings credit rate is determined by using the average of the four preceding auctions of the 90-day U.S. Treasury Bills, discount rate basis plus .25%. Example: if the average of the auctions were 4.00%, the earnings credit rate would be 4.25%
