Operating cash
Business banking
A business deposit account, a company card, and a credit facility share one owner. Payroll and vendor payments leave the deposit book. Employee spend is a limit you set inside the company line. Business deposits are held for a banker by default. The published opening minimum is $100, the monthly fee is $15, and the APY is 1.50%. Credit does not fund until that decision is released.
What a company book includes
One owner, three books: operating cash, a company card, and a credit facility. Amounts are the published defaults until an administrator changes them. Review on a business deposit is on by default.
Business deposits
Operating cash with a named owner.
- ·Open with at least $100, up to $500,000 on the application. Published monthly fee is $15 unless a balance waiver is set.
- ·Published APY is 1.50%. Payroll, vendor ACH, and wires leave this book and post in cents.
- ·The account sits on the same customer record as the owner’s personal products. It does not open the day you submit while review is on.
Company card
A line for the company, limits for the people who spend.
- ·The published company line is $2,500 at approval. Rewards are 1.50% (150 basis points).
- ·An employee spend limit can be set from $500 to $25,000 a month. That limit does not raise the company line.
- ·Lock, replace, and see what posted from card management. A replacement is published at $0. The card does not spend while the application is pending.
Business credit
A line or a term loan, after a decision.
- ·Facilities run from $5,000 to $250,000. The published note rate is 8.99%. A term can run as long as 60 months; a line revolves.
- ·Review is on by default. A pending facility is not money in the deposit account.
- ·You see the amount and the purpose before you submit. Decline finishes the record. Approval is what funds.
Who can spend is a decision you make, not a second application.
Owners stay on the customer record. Employee cards draw on the company line and stop at the limit you set. Freezing a card takes effect immediately when that setting is on, so new purchases decline without rewriting the credit application. A limit increase is a separate request, and a banker has five business days, by default, to answer it.
Wires and payroll use the same cutoff as personal banking.
A domestic wire is $25, up to $100,000. An international wire is $45, up to $50,000, before any correspondent charge. Wires after 3:00 p.m. local time go the next business day and are held for a banker by default. Nothing on this page opens the account.