--And no one makes things easier than Whidbey Island Bank. We offer a full line of business products and services to meet whatever need you might have. And one of the most important things about us is that all our decisions are made right here, not some place halfway across the country.
--It's truly a great combination for your business -- the right services with quick decisions. Take a look at the next couple of pages to see what products and services we offer to make your life a little easier.
| Small Business Checking | The basic account a small business can appreciate |
| Regular Business Checking |
A little more full-featured accountmit |
| Business Interest Checking | Earn a bit of interest on your checking balance |
| Business Savings |
Earn interest on funds that are federally insured up to the legal limit |
| Insured Money Market Account |
Get higher interest and limited check-writing capability |
Small Business Checking
- Monthly service fee: $7.00 if daily minimum
balance falls below $1,500
- A fee of $.15 per activity item will be charged on the
combined activity from checks written,
deposits made, and items deposited exceeding 100.
- Unlimited use of 24-Hour Automated Telephone Banking
System 1-888-WIB BANK (1-888-942-2265)
- A $5.00 monthly fee will be assessed when cash deposited exceeds $10,000 during the month.
Regular Business Checking
- Service charge reduction based on your
average collected balance at a variable rate
to be set by the bank.
- Unlimited use of 24-Hour Automated Telephone Banking
System 1-888-WIB BANK (1-888-942-2265)
- Monthly service fee: $8.00
- Per check and deposit charge: .15¢
- Per item deposited charge .06¢
- Minimum daily balance to avoid monthly fee: $5,000
- A $5.00 monthly fee will be assessed when cash deposited exceeds $10,000 during the month.
Business Interest Checking
- Available to Sole Ownerships
- Earns interest
- Unlimited check writing
- Monthly service fee: $8.00 if daily minimum
balance falls below $2,500
- A fee of $.12 per activity item will be charged on the
combined activity from checks written, deposits made, and items deposited exceeding 200.
- Unlimited use of WIB Check Card
- Unlimited use of 24-Hour Automated Telephone Banking
System 1-888-WIB BANK (1-888-942-2265)
- A $5.00 monthly fee will be assessed when cash deposited exceeds $10,000 during the month.
- Interest will be paid on collected balances based on the following tiers:
$0 - $999
$1,000 - $9,999
$10,000 and Over
(Contact local bank branch for current rates.)
- Have access to your money
- Limited To:
- Six Transfers per Calendar Month by Automatic
Withdrawal, Phone, ATM; no more than three of those by
Debit Card
- Limited Use of WIB ATM/Check Card as Specified Above
- Unlimited use of 24-Hour Automated Telephone Banking
System 1-888-WIB BANK (1-888-942-2265)
- $3.00 monthly service fee if balance falls below $300.
- Free when combined with WIB checking account or primary
account holder under 18 years of age
- 18 withdrawals per quarter; additional withdrawals $1.00
each
Insured Money Market Business Account
- Available to all businesses
- Interest bearing
- Transfers from an IMMA account
to another account or to third parties by
preauthorized automatic, telephone, or ATM
(to third parties only) are limited to six per
statement cycle with no more than three by check, draft,
debit card or similar order to third parties.
Excess transaction fee: $5 per item.
- Monthly fee: $10.00 if daily minimum balance falls below
$5,000
- First 100 items deposited per month covered
by monthly fee, .06¢ per item deposited thereafter.
Business Cash Management
In today's do more, do it faster, do it better, do it whenever world, electronic banking services are a real relief for todays businesses. No more working by the bank's schedule - now you can do your banking on your own.
To this end, Whidbey Island Bank offers you the following services:
Online Banking and Bill Payment
All of the following services are available free of charge:
- See your account balances and transactions
- Pay your bills online
- See your bank statements
- See the images of checks that have cleared
- See the deposits made
- Transfer funds between your Whidbey
Island Bank accounts
- Place stop payments at a reduced fee
- Download account information to Microsoft
Money 98 and Quicken 99 Release 4
(Insured Money Market Accounts and Savings
Accounts have transfer limitations. Transfers made
online are counted as part of the aggregate total
transfers allowed during a calendar month. See
your account disclosures for additional information
about transfer limitations.)
Cash Sweep Account
- Money is swept to and from a high yielding
FDIC insured money market account
- Available to sole proprietorships, partnerships,
corporations, and non-profit organizations
- Fee: $30 per month
- Requires Account Analysis
Mutual Fund Sweep Account*
- Money is swept to and from one of four
investment-funds everyday to maximize
interest earnings.
- Available to sole proprietorships, partnerships,
corporations, and non-profit organizations
- An average balance of $50,000 is required
- Fee: $50 per month
- Investment company: Federated
- Investment options:
Prime Obligations Fund
Government Obligations Fund
Treasury Obligations Fund
Tax Free Obligations Fund
- Requires Account Analysis
*Money swept is invested in money market
market mutual funds and:
- are not insured by the FDIC;
- are not a deposit or other obligation of, or guaranteed by the Bank;
- are subject to investment risks including possible loss of the principal amount invested.
- Ask to speak to our Cash Management officer for the full details.
Loans:
Corporate VISA Cards
- Required monthly payment of 2% of any balance
exceeding $15.00
- Annual fee: $25/$35 for Business Rewards Card
- Minimum Credit Line: $500
- Late fee: 5% of unpaid payment:
$5 minimum/$50 Maximum
- Over limit fee: 5% of the over limit amount.
$10.00 minimum/$20 maximum
Loans
-We offer a full range of business loans, including Small
Business Administration (SBA) Loans.
- For more information, please see one of our Loan
Officers.
Merchant Services
Bank Card Services - Visa and Mastercard
---- Other credit cards (i.e. Discover, American Express) are also-accepted, but require account relationships with those creditors.
- Initial Set-up fee: $35 (Includes first annual membership
fee,-imprinter, and plate)
- Annual Membership fee: $35
- Monthly fee: $5/mo for Electronic Data Capture
Merchants ( Telecom/Network fee)
Or
- $2/mo. for Paper Merchants (Maintenance Fee)
- Terminal: Verifone Tranz 380 and P900 printer
- Other equipment is available upon request
- Terminal Rental Fee: $25/mo plus tax (Purchase prices
available upon request)
Reach Us | Investment Accounts | Investor Relations | Don't Miss This
Privacy Policy | VISA Cardholder Terms of Service | Contact Us
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| © 1999, Whidbey Island Bank, All Rights Reserved | ||||||||