Business Banking
Things to know before opening a business account!

Business Type Requirements
Sole-Proprietorship | Corporation | Limited Liability Corporation | Partnership | Non-Profit Organization or Association

FREEdom Small Business
An excellent account for small business customers who process a limited number of items each month.

• FREE instantly issued Business Debit Card
• FREE ATM usage anytime, anywhere
• FREE Pennywise Coin Counting
• No minimum balance requirement
• Cash Management Services Available
• Only $100.00 to open

Regular Checking Commercial
Ideal account for all business customers.

• FREE instantly issued Business Debit Card
• FREE ATM usage anytime, anywhere
• FREE Pennywise Coin Counting
• Cash Management Services Available
• Earnings credit* for collected balances
• Only $100.00 to open
• Monthly analysis determines service charges. See fee schedule below.

*Earnings credit based on average 13-week Cash rate

Now Commercial Checking
Interest bearing account for business customers who maintain higher balances, earn interest and write unlimited checks.

• FREE instantly issued Business Debit Card
• FREE ATM usage anytime, anywhere
• FREE Pennywise Coin Counting
• Unlimited check writing
• Competitive interest rate
• Imaged checks mailed with monthly statement
• Available to sole-proprietors and non-profit corporations
• $100.00 deposit required to open
• Low service charge of $10.00 if balance drops below $1000.00

Tiered Rate Money Market Commercial
This account is ideal for commercial customers want to be paid a higher rate because of the balance that is maintained in accounts.

• FREE instantly issued Business Debit Card
• FREE ATM usage anytime, anywhere
• FREE Pennywise Coin Counting
• Imaged checks mailed with monthly statement
• *Limited transaction account
• **Tiered interest schedule based on balance
• Only $100.00 to open
• Service charge of $10.00 if balance falls below $2500.00
• $5.00 withdrawal fee for each transaction in excess of six during statement cycle Interest is not collected if account is closed prior to interest payment

*Limited transactions: Transfers from a Money Market account to another or to third parties by pre-authorized, automatic, or telephone transfers are limited to six per statement cycle with no more than three by check, draft, or similar order to third parties.

**Tiered Schedule
$0 - $9,999.99
$10,000 - $24,999.99
$25,000 - $99,999.99
$100,000 - $499,999.99
$500,000 - & above
For current rates please visit one of our convenient locations, call a customer service representative, or contact your personal business banker at 903.838.5505 or 972.931.5505!

Business Savings

Commercial Savings Account
Ideal for businesses who are putting money aside for a specific item or goal in the future.

• FREE Pennywise Coin Counting
• Competitive interest rate
• Quarterly statement
• *Limited transaction account
• Only $100.00 to open
• Minimum balance of $200.00 required to earn interest
• A withdrawal fee of $1.00 will be charged for each debit transaction in excess of three during the quarter if the account balance falls below $400.00 during the statement cycle.
• A service charge of $3.00 will be charged if the balance falls below $100.00 any day during the statement cycle.

*Limited transactions: Transfers from a Statement Savings account to another account or to a third-party by pre-authorized , automatic or telephone transfer are limited to six per statement cycle with no more than three by check, draft, or debit card to third parties.

Treasury Management
Century BANK has the products and services your business needs to help it grow and work more efficiently. From our online banking program, NetTeller, to Direct Deposit and Merchant Card Services, Century Bank can help simplify the day for a smarter tomorrow.

NetTeller - Cash Management

• Access balances daily
• View image of paid checks, deposit slips and transaction detail
• Book transfers between accounts within Century BANK
• Download information for account reconciliation
• Receive Electronic Data Interchange "EDI" information for ACH payments
• View and print monthly bank statements
• Initiate stop payment requests

NetTeller - Cash Management - ACH

• Direct Deposit payroll directly your employees accounts and while reducing time and cost of processing payroll checks
• Consolidate funds from other financial institutions through cash concentration
• Pay vendors electronically
• Initiate Federal and State tax payments online (EFTPS)

NetTeller - Cash Management - Wires

• Send domestic wire transfers at a reduced cost
• Receive an extended cutoff time for wires submitted online

NetTeller - Cash Management - Positive Pay

• Mitigate check fraud and loss by sending a daily "check-issued file" to the bank
• Recieve system alerts for items that do not show as "issued" allowing you to make a "pay" or "return" decision on the items

NetTeller - Cash Management - BAI Reporting

• Reduce reconciliation time by receiving daily account activity information in a standardized format

Cash Management - Remote Deposit Capture

• Scan checks, personal an business, and transmit electronic images to the bank for posting and clearing using a desktop scanner and web access
• Eliminate need to transport checks to the bank
• Enjoy an extended daily cut off time for Remote Deposit Capture deposits
• Increase funds availability

Cash Management - CD Rom Statements

• View all checks paid and deposits made, including the checks that make up your deposits as well as bank statements
•  Retain account information on a permanent basis with less storage
• Utilize search tools that provide fast and effective research functionality

Cash Management - Zero Balance Accounts “ZBA”

• Eliminate idle funds and increase funds availability
• Sweep collected funds automatically at end of day processing based on pre-set target balance
• Reduce time monitoring and reconciling multiple accounts

Cash Management – Reserve Sweep Account

• Benefit from an automatic two way sweep based on pre-set collected target balance
• Reduce idle funds and increase earnings
• Earn competitive interest rates based on 90 Day T-Bill rates (subject to change monthly)
• Enjoy low fee structure

Cash Management – Fed EDI Reporting

• Receive daily reports via email detailing ACH addenda information
• Reduce receivables reconciliation time

Cash Management – Account Reconciliation

• Diminish account reconciliation time by receiving a monthly reconciliation file
• Import file into your reconciliation software automatically
• Obtain files customized to your individual software specifications

Cash Management - Lockbox – Wholesale and Retail

• Have deposits processed directly to your Century BANK account through collection of items at a post office box unique to your business
• Speed collection process for accounts receivables
• Lessen time necessary to post to accounts receivables by utilizing any one or a combination of deposit reporting capabilities
• Enhance funds availability
• View images of deposited items online
• Receive daily fax, email, or data transmission uploads

Cash Management – Merchant Card Services

• Remain competitive in the market place by accepting all major credit cards including debit cards
• Obtain funds directly to your Century BANK checking account
• Enjoy competitive processing rates

Business Credit Card

• Have the benefit of convenience and flexibility when you need it most
• Choose from various card programs:  Visa Business Travel; Platinum Business Rewards Card; Visa Business Card
• Take advantage of a great introductory rate for the first 6 months

*Please contact a Treasury Management Representative for pricing or specific questions.

Things to know before opening a business account:

The USA PATRIOT Act has paved the way for financial institutions to help prevent fraud, identity theft, and the spread of terrorism by requiring financial institutions to obtain more information on new accounts.

To assist the government in fighting the funding of terrorism and money laundering activities, federal law requires all financial institution to obtain, verify, and record information that identifies each person who opens an account.

This means that when you as an individual request to open an account for a business entity, we will ask for your name, physical address, date of birth, taxpayer identification number, and other information that will allow us to identify you. We will also ask to see your driver’s license and may ask for other identifying documents. Furthermore, we will request additional documents, based on business type, in order to identify the business.

Sole-Proprietorship

• Social Security number or Tax ID Number
• Physical address of business
• Assumed Name Certificate. (Certificate can be obtained from the county court house in which the business is operating.)

Corporation

• Tax ID required
• Physical Address of business
• Certificate (Articles) of Incorporation. Seal of Secretary of State should be on document.
• Minutes from Board Meeting. Minutes are essential to establish names of all signers to be on account.
• Assumed Name Certificate, if applicable (Corporation DBA Sub-Business)

Limited Liability Corporation

• Tax ID required if more than one owner
• Social Security Number if one person LLC
• Physical address of business
• Articles of Organization filed with Secretary of State. Seal of Secretary of State should be on document.

Partnership

• Tax ID required
• Physical address of business
• Partnership Agreement (All partners on partnership agreement must sign the bank provided resolution and signature card.)
• Assumed name certificate, if applicable (for example, Partnership business DBA Sub-business)
• If limited partnership, must obtain Certificate of Limited Partnership, which should be filed with the Secretary of State. Seal of Secretary of State should be on document.
• If limited liability partnership (LLP), must obtain a Limited Liability Partnership Registry filed with the Secretary of State. Seal of Secretary of State should be on document.

Non-Profit Organization or Association

• Tax Id required
• Charter, By-laws or Letter of Purpose
• Minutes of Meeting. (Minutes are essential to establish names of all signers to be on account.)