YakCam
Baker Boyer offers four tiers of checking account options for our business clients. A summary of features is listed below. If you'd prefer, you may view or print a one-page summary chart here.
Checking Accounts
eSolutions
- Opening Balance: $100
- Service Charge: No Monthly Service Charge. After three, 50¢ per check. $6 monthly fee for paper statements*
- Other Account Fees: No Baker Boyer imposed
fee for debit card & ATM
transactions. - Interest: N/A
First Step Business
- Opening Balance: $100
- Service Charge: $12 monthly service charge, waived with a minimum daily balance of $2,500
- Other Account Fees: 50 cents per posted check (in excess of 25); 30 cents per deposited item (in excess of 50)
- Interest: N/A
Business Account Analysis**
- Opening Balance: $100
- Service Charge: monthly service charge based on account analysis, starting with $14 base monthly service charge
- Other Account Fees: See above
- Interest: N/A
Interest Business
- Opening Balance: $5,000
- Service Charge: $15 monthly service charge, waived with a minimum daily balance of $5,000
- Other Account Fees: 50 cents per posted check (in excess of 25); 30 cents per deposited item (in excess of 50)
- Interest: Interest is earned daily and paid monthly on collected balance if greater than $5,000
*eSolutions
There is a $6 monthly service fee for eSolutions customers who choose paper statements. There is no charge for electronic statements which are available through Online Banking.
**Analyzed Account
Earnings Credit—All collected funds in your Business Checking account earn a credit which is used to reduce your monthly service charge. This credit is derived by applying earnings credit to your daily collected balance after a 15% reserve requirement has been deducted. This earning rate is the same as the monthly average of the discounted 90-day Treasury Bill rate and is subject to change on the last day of each month.
Uncollected Funds —If checking withdrawals are made faster than incoming checks are collected you are, in effect, using bank funds. For this service, a fee is assessed for uncollected funds using the monthly average of the 90-day Treasury Bill rate plus 4%. This rate is subject to change on the last business day of each month. When your charges exceed the earnings credit, the amount results in a service charge being applied.
Baker Boyer offers two savings account options to its business clients. A summary of features is listed below. If you'd prefer, you may view or print a one-page summary chart here.
Business Savings
- Opening Balance: $100
- Service Charge: $5 monthly service charge, waived with a minimum daily balance of $400
- Other Account Fees: No Baker Boyer-imposed fee for the ATM transactions. Excessive savings account withdrawals $5 each after 6**
- Interest: Interest is earned daily and paid quarterly on collected balance
Business Money Market Gold
- Opening Balance: $5,000
- Service Charge: $15 monthly service charge, waived with a minimum daily balance of $5,000
- Other Account Fees: No Baker Boyer-imposed fee for the ATM transactions. Excessive savings account withdrawals $5 each after 6**
- Interest: Interest is earned daily and paid monthly on collected balance. Rates are subject to change daily. Interest-based on current ledger balance tiers***
**Excessive withdrawal fee applies when the account exceeds 6 pre-authorized third party withdrawals per statement period (if not more than 31 days). If statement period is
quarterly, 6 pre-authorized withdrawals are allowed per calendar month.
Savings accounts are limited to six pre-authorized transfers, checks to a third party, or automatic transfers (such as mortgage or insurance payments) per statement cycle. We reserve the right to not pay accrued interest if account is closed prior to payment date.
***Interest Balance Tiers
$0 to $24,999.99
$25,000.00 to $49,999.99
$50,000.00 to $99,999.99
$100,000.00 to $249,999.99
$250,000.00 and over
