| Ideal Customer |
For small businesses or new companies with limited transactions and less than $5000 in cash deposits per month |
For small and growing businesses that require higher volume check-writing and
less than $10,000 in cash deposits per month
|
Interest-bearing checking account for non-profit or government organizations and sole proprietorships |
For large businesses with significant activity
Offers a competitive earnings credit to reduce or offset fees
|
Used with a Commercial Checking account and provides automatic funds investment
into a Money Market or Repurchase Agreement
|
Transfer larger balances and maximize earnings on excess funds
Earns competitive interest and offers limited check-writing
|
Enjoy additional earnings on your extra cash while maintaining liquidity |
| Checks, Deposits, Deposit items |
200 items
($.20 per item over 200) |
500 items
($.20 per item over 500) |
200 items
($.20 per item over 200) |
Unlimited
Checks Paid $.10
Deposits $.10
Deposited items $.07 |
Unlimited
Checks Paid $.10
Deposits $.10
Deposited items $.07 |
Transfers and withdrawals not made in person limited to 6 per month, with no more than 3 by check |
Transfers and withdrawals not made in person limited to 6 per month, with no more than 3 by |
| ACH*/Debit Card/Electronic Banking Transactions |
Unlimited |
Unlimited |
Unlimited |
Unlimited ACH* debits and credits - $0.25 each |
Unlimited ACH* debits and credits - $0.25 eac |
See above |
See above |
| Minimum Daily Balance to avoid Service Fee |
$0 |
$3,000 |
$1,000 |
None |
None |
$2,500 |
$100 |
| Service Fee |
None |
$15 if below minimum |
$10 if below minimum |
$12 Maintenance fee |
$12 Maintenance Fee
Fees apply for Money Market and Repurchase Options |
$15 if below minimum |
$5 per quarter below minimum |
| Amount to open |
$100 |
$100 |
$100 |
$100 |
$100 |
$2,500 |
$100 |
| Benefits |
FREE Online Business Banking & Bill Pay
FREE Night Drop and Currency/Coin Processing
|
FREE Online Business Banking & Bill Pay
FREE Night Drop and Currency/Coin Processing
|
Competitive interest rates
FREE Online Business Banking & Bill Pay
FREE Night Drop and Currency/Coin Processing
|
FREE Online Business Banking & Bill Pay
FREE Night Drop and Currency/ Coin Processing (Fees apply for change orders)
Cash Management Services available
|
FREE Online Business Banking & Bill Pay
FREE Night Drop and Currency/ Coin Processing (Fees apply for change orders)
Cash Management Services available
Minimum target balance of $25,000. Sweep in $1,000 increments
|
FREE Online Business Banking & Bill Pay
FREE Night Drop and Currency/Coin Processing
|
FREE Online Business Banking & Bill Pay
FREE Night Drop and Currency/Coin Processing
|
In today's fast-paced world, speed, accuracy of reporting, and overall safety are a must, particularly when it comes to handling electronic deposits at your place of business. If you
want to improve funds availability, maximize cash-flow, and stay ahead of the competition,
put Merchant Capture from 1st Independence Bank to work for you.
With Merchant Capture, you can instantly capture check payments and deposit them into your business account. You enjoy all the financial benefits of local processing and your customers
still receive a check image for their records. By delivering electronic images and information
to 1st Independence over a secure Internet connection, Merchant Capture doesn't disrupt the daily flow of business.
Whether you deposit one check or hundreds of checks each day, Merchant Capture can enhance your business. Find out more about our software, affordable, light-weight scanner, and FREE on-sight training complements of 1st Independence. Call us today at 1-800-776-3764 or visit the Indiana or Kentucky office nearest you. You'll be up to speed in no time!
1st Independence's Online Business Banking offers fulltime financial control on a fully integrated desktop banking program accessible via the Internet. You will save valuable time and effort by managing your financial position online, allowing you to review and download account information whenever you wish.
Online Business Banking supports summary and detailed information for all accounts and transactions types providing the ability to view and search account history, display check images, search transactions and create your own customized reports. It gives businesses the ability to perform automatic as well as recurring account transfers, place stop payments, download financial data into software such as QuickBooks® or Quicken®, or a comma-delimited file format, and pay invoices over the Internet at your convenience via Bill Pay.
Online Business Banking also supports businesses who utilize the ability to electronically transfer funds. The Automated Clearing House (ACH) feature expedites direct deposit of payroll, pay invoices, concentrate funds from other financial institutions or collect payments. The Wire Transfer feature moves funds between accounts within different financial institutions.
Online Business Banking Application (Microsoft Word)
Online Business Banking Application (Adobe Reader)
A Zero Balance Account controls balances through automated funding from a main account with 1st Independence. When checks are issued from the ZBA and presented for payment, there is an automated transfer from the main account to cover the funds.
A 1st Independence lockbox is an excellent option for companies that want to enhance receivable processing, reduce internal processing costs and save time. Customers mail payments directly to a post office box that is serviced by our bank. Our professionals will process the checks and invoices and provide you with faster access to your funds. Specific processing is available to meet your business needs.
Extend the exceptional service 1st Independence offers your business to your employees through our Employees 1st program. Your company employees will enjoy a superior package of financial services and interest rates along with the impeccable service, integrity and trust you've come to know as a 1st Independence client. From FREE Checking and FREE Online Banking and Bill-Pay to reduced rates on loans and higher rates on certificates of deposit (CDs), Employees 1st is a program your company will feel good about offering time and again.
For companies that want to increase sales and profitability by accepting non-cash forms of payment, talk with 1st Independence Bank about our Merchant Services program. Termnet Merchant Services, one of the industry leaders in electronic payment processing, together with 1st Independence, offers a full service solution to your credit and debit card processing needs.
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