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VNB
offers ultimate flexibility with commercial checking and savings
accounts for large and small businesses alike. Our commercial
checking accounts start with opening deposits as low as $100,
and our commercial savings accounts offer varying levels of
commitment, flexibility, and return.
Commercial
Checking Accounts
ECONOMY
CHECKING
| • |
Minimum
opening deposit of $100 |
| • |
No
per-item fee on the first 225 transaction items (including items deposited,
ACHs received and all electronic credits and debits) per month |
| • |
Per-item
fee of $0.25 on each transaction item over 225 per month |
| • |
$1,000
average daily balance to avoid monthly maintenance fee
|
| • |
Monthly
statements |
FULL-ANALYSIS
BUSINESS CHECKING
| • |
Minimum
opening deposit of $100 |
| • |
No
average balance required |
| • |
Earnings
credit tiered based on average investable balance |
| • |
Monthly
maintenance fee |
| • |
Per-item
fees include the following:
Each debit paid-$0.16
Each deposit-$0.40
Each item deposited-$0.11
Each electronic credit - $0.18
Each electronic debit - $0.20 |
| • |
FDIC insurance monthly fee on average ledger balance - 0.12%
|
| • |
Use
of uncollected funds will be charged based on the prevailing
Wall Street Journal prime rate plus 3.00% |
| • |
Analysis
statements provided for any month in which a charge is
incurred |
| • |
Monthly
statements |
BUSINESS
INTEREST CHECKING
For use by Sole Proprietors and Nonprofit Organizations
| • |
Minimum
opening deposit of $100 |
| • |
No
per-item fee on the first 225 transaction items (including items deposited, ACHs received
and all electronic credits and debits) per month |
| • |
Per-item
fee of $0.25 on each item over 225 per month |
| • |
$1,000
average daily balance to avoid monthly maintenance fee |
| • |
Market
interest rates earned on all balances |
| • |
Interest
paid monthly |
| • |
Monthly
statements |
IOLTA
(LAWYER'S TRUST ACCOUNT)
| • |
Minimum
opening deposit of $100 |
| • |
Monthly
maintenance fee of $10 |
| • |
Market
interest rates earned on all balances |
| • |
Interest
earned, after deducting any monthly fee, is remitted to
Legal Services Corporation of Virginia |
| • |
Monthly
statements |
Commercial
Savings Accounts
BUSINESS
MONEY MARKET ACCOUNT
| • |
Minimum
opening deposit of $500 |
| • |
6
withdrawals or checks allowed per statement cycle period |
| • |
$5
per withdrawal after 6 withdrawals |
| • |
$500
average daily balance to avoid monthly maintenance fee |
| • |
Interest
paid monthly |
| • |
Tiered
interest rate structure |
| • |
Monthly
statements |
PHOENIX
ACCOUNT
| • |
Minimum
opening deposit of $1,000 |
| • |
Deposits
permitted at any time |
| • |
Maturity
every 90 days |
| • |
10 day
grace period after maturity for withdrawals |
| • |
Automatically
renews |
| • |
Interest
paid every 90 days at maturity |
| • |
Early-withdrawal
penalty equal to 90 days' forfeiture of interest, regardless
if earned |
| • |
Market
interest rate is tiered by age of account:
| |
1 – 12 months |
|
6 month CD rate |
| |
13 – 24 months |
|
1 year CD rate |
| |
25 – 36 months |
|
2 year CD rate |
| |
37 months or longer |
|
3 year CD rate |
|
| • |
Calendar
quarter statements |
CERTIFICATE
OF DEPOSIT
| • |
Minimum
opening deposit of $500, unless otherwise stated |
| • |
Terms
of 3 months to 5 years |
| • |
10 day
grace period after maturity for withdrawals |
| • |
Penalty
for early withdrawal, forfeiture of interest, regardless
if earned, as follows:
3 months' forfeiture for CD with terms of 1 year or less
6 months' forfeiture for CD with terms greater than 1
year |
| • |
Automatic
renewal |
| • |
Interest
paid quarterly |
| • |
Calendar
quarter statements |
CDARS® CERTIFICATE
OF DEPOSIT ACCOUNT REGISTRY SERVICES®
| • |
Full
FDIC Insurance on CDs up to $50 million |
| • |
Work
with one bank on all CD deposits from $10,000 to $50,000,000 |
| • |
1
interest rate on CDs placed through CDARS®, no multiple
rates or need to manually tally disbursements for each CD |
| • |
1 monthly statement detailing your
CD balances and a 1099 for tax reporting |
| • |
Wide variety of maturities ranging
from 4 weeks to 5 years |
FUNDS
MANAGEMENT CERTIFICATE OF DEPOSIT
| • |
Minimum
opening deposit of $50,000 |
| • |
Terms
of 7 to 365 days |
| • |
Interest
paid at maturity |
| • |
Penalty
for early withdrawal, forfeiture of all interest that
would be paid if held until maturity |
| • |
Single
maturity, no automatic renewal |
CASH
MANAGEMENT OPTIONS
| • |
Repurchase Sweep
Agreement |
| • |
Cash Investment Sweep Agreement |
| • |
Money
Market MAX Account |
| • |
Details,
including associated fees, are available from your Virginia
National Banker |
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