 Business Checking Benefits
Available On All Accounts...
-
Images of your canceled checks returned
to you
-
Duplicate checks offered
-
Convenient automatic
payments of Bank of Mauston loans and other bill payments
-
Overdraft protection from
savings account to ensure positive balance
-
Internet & telephone transfers
between your Bank of Mauston accounts
Competitive Fee Schedule That Keeps Our Accounts Affordable...
| Monthly
Account Fee |
$5.00 |
| Returned
Checks |
5.00 |
| Ledger
Entries - Credits |
.25 |
| Ledger
Entries - Debits |
.10 |
| Items
Deposited: Drawn on Bank of Mauston |
.02 |
| Items
Deposited: Drawn on Local Banks |
.04 |
| Items
Deposited: Drawn on Non-Local Banks |
.04 |
| Rolled Coin (per roll) |
.05 |
| Currency
Straps (per strap) |
.35 |
Business Checking Account Analysis Method...
The Bank of Mauston utilizes an Account Analysis Method to track
activity in business checking accounts to ensure fair
assessment of charges. The method begins by taking your average
available balance for the month, which is the average balance less any
funds that have not yet been
collected, minus a 10% legal reserve rate (which is the cash or cash
equivalents that the government requires banks to keep on hand to remain
liquid). The result of this calculation gives us the Balance
Available For Services. The following
example shows how this Method works:
An Account Statement May Show:
Average Balance - 25,050.48
Less Average Uncollected Funds - 14,656.76
Average Available Balance - 10,393.72
Less Legal Reserve (10%) - 1,039.37
Balance Available For Services - 9,354.35
Your Balance Available For Services will accrue an Earnings Credit at
the 90-Day T-Bill rate (set at the first of the month) which will be
applied to offset monthly charges. So, if your Earnings Credit
allowance was $12.91 for the month and the actual cost of your account
activity (debits, credits, deposits, coin purchases, and analysis
charge) for the month was $31.19, your account maintenance fee would be
$18.28.
To minimize or avoid a maintenance charge on your account, you
are encouraged to maintain a high enough collected balance to offset the
analysis charge.
Bank of Mauston’s NOW Account
The NOW Account is designed for Sole Proprietors, Non-Profit
Organizations, and Municipalities. This account provides the same
benefits of the regular business checking, including the Earnings
Credit, and the account accrues interest!
Ø Printable
Brochure (PDF format)
Last Update:
Saturday, 11. March 2006 06:55 PM
|
