Business Accounts
At Grand Valley Bank, we know your time is valuable, so we provide business accounts and solutions that make your job easier. As your community bank, we understand local business banking needs and our goal is to make the most of your banking experience. Take a look at what we offer, or speak with a New Accounts Representative for more information.
Available Accounts
Features & Benefits:
- 40 free debits
- 10 free credits
- 50 free deposited items
- Free NetTeller (Online Banking)
- Check images are included in your statements
- Minimum Balance to Avoid the maintenance fee:
- Keep a minimum balance of $1,500 or more in your Small Business checking account.
- Per Item Charges over the free items:
- $.20 per item deposited and $.30 per item posted.
| Amount Needed To Open: | $100.00 |
| Monthly Maintenance Fee: | $8.00 |
Features & Benefits:
- Check images are included in your statements
- Free NetTeller (Online Banking)
- Mobile Banking
- Interest Bearing Account
- Minimum Balance to Avoid the maintenance fee:
- Keep an average collected balance of $5,000 or more.
- Per Item Charges over the free items:
- $.10 per item deposited and $.20 per item posted.
| Amount Needed To Open: | $100.00 |
| Monthly Maintenance Fee: | $10.00 |
Features & Benefits:
- Free NetTeller (Online Banking)
- Check images are included in your statements
- A monthly earnings credit at our current variable rate is calculated on the collected daily balance. Earnings credit on sufficient balances may offset the service charge and activity costs each month.
- Per Item Charges over the free items:
- $.10 per item deposited and $.20 per item posted.
| Amount Needed To Open: | $100.00 |
| Monthly Maintenance Fee: | $7.00* |
Features & Benefits:
- Free NetTeller (Online Banking)
- Check images are included in your statements
- A monthly earnings credit at our current variable rate is calculated on the collected daily balance. Earnings credit on sufficient balances may offset the service charge and activity costs each month.
- Per Item Charges over the free items:
- $.10 per item deposited and $.20 per item posted.
| Amount Needed To Open: | $100.00 |
| Monthly Maintenance Fee: | $7.00 |
| Monthly Hemp Account Monitoring Fee: | $20.00* |
Features & Benefits:
- Free NetTeller (Online Banking)
- Mobile Banking
- Interest Bearing Account
- Per Item Charges over the free items:
- $.10 per item deposited.
- Minimum Balance to Avoid the maintenance fee:
- Keep a minimum collected balance of $200 or an average collected balance of $500 in your account.
| Amount Needed To Open: | $100.00 |
| Monthly Maintenance Fee: | $4.00 |
| Monthly Hemp Account Monitoring Fee: | $20.00* |
- Transactions Limitations:
-
Six transfers per month, any combination of withdrawals made in person, payments to third parties (including ACH and telephone or Internet transfers to another account at this bank).
Excess Items = $3.00 each
Unlimited ATM withdrawals
Features & Benefits:
- Check images are included in your statements
- Free NetTeller (Online Banking)
- Mobile Banking
- Interest bearing account.
- Per Item Charges over the free items:
- $.10 per item deposited.
- Minimum Balance to Avoid the maintenance fee:
- Keep an average collected balance of $3,500 or more.
| Amount Needed To Open: | $100.00 |
| Monthly Maintenance Fee: | $10.00 |
- Transactions Limitations:
-
Six transfers per month, any combination of withdrawals made in person, checks or payments to third parties (including ACH and telephone or Internet transfers to another account at this bank).
Excess Items = $10.00 each
Unlimited ATM withdrawals
- Business Interest Bearing Accounts:
-
- Interest is paid on the account at the current rate, subject to change at our discretion.
- Business Savings & Money Market Accounts pay interest at the current tiered rate subject to change at our discretion. The tiers are $0-4,999.99 and $5,000 and up. You will earn the corresponding annual percentage yield.
- Interest begins to accrue on the first banking day after your deposit and will be compounded and credited to your account monthly.
- Interest is calculated on the collected daily balance in your account. Accrued interest is not paid if the account is closed before the interest is credited.
Open your account with $500 or more.
Interest on your Certificate of Deposit (CD) is fixed for the initial term of the CD. Your interest rate and annual percentage yield may change at maturity. At each automatic renewal, the interest rate is fixed at the then current rate for that term. If your CD was originally a “special” term that is no longer offered, it will renew at the next closest term. You will earn the corresponding annual percentage yield. Interest begins to accrue on the first banking day after your deposit and may be compounded and credited to your CD account monthly. If you choose to receive your interest by check or deposit to another account at this bank, your annual percentage yield will be the same as the simple interest rate. We calculate interest on the current daily balance in your account. If you close your account before interest is paid, you will not receive the accrued interest. Additional deposits may be made only at maturity. Principal withdrawals prior to maturity may be made only if we agree at the time you request the withdrawal.
Early withdrawal penalties may apply to your Certificate of Deposit (CD). For CDs with a term of less than 24 months, the penalty will be ½ of the interest earned or to be earned for the full term of the CD. For CDs with terms of 24 months or greater, the penalty will be ¾ of the interest earned or to be earned for the full term of the CD. Please contact a customer service representative for more information.
Important Information:
- Interest bearing accounts at Grand Valley Bank pay interest at the current rate, subject to change at our discretion. You will earn the corresponding annual percentage yield. Interest begins to accrue on the first banking day after your deposit and will be compounded and credited to your account monthly. We calculate interest on the current daily balance in your account. If you close your account before the interest is credited, accrued interest is not paid.
- We calculate the average daily balance in accounts by adding thebalance in the account for each day of the month and then dividing by the number of days in the month.
- Money Market Accounts pay interest at the current tiered rate, subject to change at our discretion. The tiers begin at $500, $10,000, $25,000, $50,000 and $100,000. Balances at these tiers will earn the corresponding annual percentage yield.
- Regular Savings Accounts pay interest at the current tiered rate, subject to change at our discretion. The tiers begin at $.01, and $250,000. Balances at these tiers will earn the corresponding annual percentage yield.
- HSAs pay interest at the current tiered rate, subject to change at our discretion. The tiers begin at $.01, $3,000, $6,000, $20,000. Balances at these tiers will earn the corresponding annual percentage yield.
- Regular Savings and Money Market accounts will receive quarterly statements and monthly statements when there is electronic fund transfer (EFT) activity on the account. EFT activity includes ACH transactions, ATM withdrawals and Debit Card transactions.
- We do not authorize transactions requests for ATM withdrawals or daily Debit Card transactions unless there are available funds in the account at the time of the request.
- Overdrafts may be created by check, in-person withdrawal, ATM withdrawal, or other electronic means. See the Common Fees schedule for other fees that may apply to deposit accounts. You are not charged fees for overdrafts created by one-time debit card transactions or ATM withdrawals.