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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 $100.00,
and our commercial savings accounts offer varying levels of
commitment, flexibility, and return.
Commercial
Checking Accounts
ECONOMY
CHECKING
| • |
Minimum
opening deposit of $100.00 |
| • |
No
per-item fee on the first 225 items (including checks,
deposits, and deposited items) per month |
| • |
Per-item
fee of $0.25 on each item over 225 per month |
| • |
$1,000.00
average daily balance to avoid monthly maintenance fee
|
| • |
Monthly
statements |
FULL-ANALYSIS
BUSINESS CHECKING
| • |
Minimum
opening deposit of $100.00 |
| • |
No
average balance required |
| • |
Earnings
credit (based on the average investable balance of the
account using an average of the weekly auctions of the
91-day Treasury bill of the previous month) may offset
fees |
| • |
Monthly
maintenance fee |
| • |
Per-item
fees include the following:
Each debit paid-$0.12
Each deposit-$0.25
Each item deposited-$0.10 |
| • |
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 $100.00 |
| • |
No
per-item fee on the first 225 items (including checks,
deposits, and deposited items) per month |
| • |
Per-item
fee of $0.25 on each item over 225 per month |
| • |
$1,000.00
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 $100.00 |
| • |
Monthly
maintenance fee of $10.00 |
| • |
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 $500.00 |
| • |
Six
withdrawals allowed per statement cycle period; three
may be payable to a third party |
| • |
$5.00
per withdrawal after six withdrawals |
| • |
$500.00
average daily balance to avoid monthly maintenance fee |
| • |
Interest
paid monthly |
| • |
Tiered
interest rate structure |
| • |
Monthly
statements |
PHOENIX
ACCOUNT
| • |
Minimum
opening deposit of $1000.00 |
| • |
Deposits
permitted at any time |
| • |
Maturity
every 90 days |
| • |
Ten-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 to 12 months-6-month CD rate
13 to 24 months-1-year CD rate
25 to 36 months-2-year CD rate
37 months or longer-3-year CD rate |
| • |
Calendar
quarter statements |
CERTIFICATE
OF DEPOSIT
| • |
Minimum
opening deposit of $500.00, unless otherwise stated |
| • |
Terms
of 3 months to 5 years |
| • |
Ten-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 |
FUNDS
MANAGEMENT CERTIFICATE OF DEPOSIT
| • |
Minimum
opening deposit of $50,000.00 |
| • |
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
Agreement |
| • |
Money
Market MAX Account |
| • |
Details,
including associated fees, are available from your Virginia
National Banker |
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