Checking Accounts

Settlers Bank is a small business, owned and operated by people who live right here in the Mid-Ohio Valley. We can help you grow your business with a number of banking options that will help you manage your cash flow and get you back to doing what’s most important to you.

Small Business Checking

Non-interest bearing checking account designed for start-up businesses or businesses with a low volume of deposits and minimal check-writing activity.

  • $100 minimum deposit to open the account.
  • $5 monthly service fee may be waived with $1,000 minimum daily balance.
  • No monthly service fee for non-profit organizations as defined by IRS Code §501 C(3)-(4).
  • Customers are permitted up to 200 items during a statement cycle.
  • Excess transactions will be charged at a rate of $0.15 for each additional debit or credit.
  • No-fee, 24-hour touch-tone banking service.
  • Check images provided with monthly statement.

Commercial Checking

Non-interest bearing checking account designed for businesses with high transaction volumes.

  • $200 minimum deposit to open the account.
  • Account analysis fees are waived for the first three statement cycles.
  • Compensating balance and earnings credit may offset the monthly service fee.
  • The earnings rate is variable and is based on the prior month average of the 91-Day T-Bill auction rate. If the analysis results in a net fee, those charges will be deducted from the account monthly.
  • No-fee, 24-hour touch-tone banking service.
  • An account analysis statement will be provided monthly that details the level of account activity and corresponding service fees. Please contact a Settlers Financial Services representative for a copy of the commercial account analysis that outlines the fee schedule.
  • Check images provided with monthly statement.

Business NOW Account

Interest-bearing checking account with unlimited check writing privileges. Available only to sole proprietorships and non-profit organizations that exist primarily for religious, philanthropic, charitable, educational or similar purpose.

  • $1,000 minimum deposit to open the account.
  • Account analysis fees are waived for the first three statement cycles.
  • Compensating balance and earnings credit may offset the monthly service fee.
  • The earnings rate is variable and is based on the prior month average of the 91-Day T-Bill auction rate. If the analysis results in a net fee, those charges will be deducted from the account monthly.
  • No-fee, 24-hour touch-tone banking service.
  • An account analysis statement will be provided monthly that details the level of account activity and corresponding service fees. Please contact a Settlers Financial Services representative for a copy of the commercial account analysis that outlines the fee schedule.
  • Interest earned is compounded monthly and credited monthly. Consult a Settlers Financial Services Representative for rate information.
  • Check images provided with monthly statement.

Investor Plus Money Market Account

Interest-bearing checking account for individuals or businesses that occasionally write checks and desire a higher rate of interest on their investment.

  • $1,500 minimum deposit to open the account.
  • $5 monthly service fee may be waived by maintaining a minimum daily balance of $1,500.
  • Six transactions per month are permitted. A $10 excess check fee will be assessed if the check limit (six per month to third parties) is exceeded.
  • Tiered interest rates available. Interest earned is compounded monthly and credited monthly.
  • Free Investor Plus MMDA checks for this account
  • No-fee ATM/Debit card.
  • No-fee, 24-hour touch-tone banking service.
  • No-fee Online banking
  • No-fee Internet bill pay service
  • Check images provided monthly. Combined statement available.

 

NOTICE OF CHANGES

Per the Dodd-Frank Wall Street Reform & Consumer Protection Act of 2010, please be advised that effective July 21, 2011 at a minimum, the first $200 (rather than $100) of a check deposit will be available on the next business day after the day of deposit.

^top

Fee Schedule