Business banking

We know that you have to make challenging business decisions every day. Deciding which business checking account is right for you shouldn't be one of them. That's why we offer a wide variety of business checking accounts that can meet the needs of businesses of all sizes. The best part is, we don't nickel and dime our business customers with excessive account-maintenance fees.

Learn about our business checking options below. If you don't see what you're looking for on this list, or if you have additional questions, just give us a call at 540-591-5000 or stop by one of our convenient locations. One of our dedicated employees will be happy to assist you over the phone or in person.

Comparison Chart

Basic Business Banking

This account is best suited for businesses with low checking account activity. You can submit up to 100 customer-initiated transactions 2,3 per statement cycle that will be processed at no charge. If more than 100 customer-initiated transactions 2,3 are processed per statement cycle, excess item fees of 35¢ per item will be imposed. There are no minimum balance requirements!

  • FREE trial order of 50 wallet checks.
  • FREE Online Banking
  • FREE Bill Payment Services 4
  • FREE eStatements
  • FREE Images of Cancelled Checks
  • FREE 24-Hour Telephone Banking
  • FREE Visa® Business Credit Card (no annual fee) 4
  • FREE Unlimited Currency and Rolled Coin Deposit Processing.
  • FREE ATM Access at Hundreds of Surcharge Free ATMs 5
  • If more than 100 transactions are processed per statement cycle, excess item fees of $0.35 per item will be imposed.
  • Free Electronic NSF Check Recovery Service.
  • Merchant BankCard Services are available.
  • Merchant Capture Services are available.

Advantage Business Banking

This affordable checking account is best suited for businesses with higher levels of checking account activity. Avoid paying monthly service charges by maintaining an average balance of just $2,500.  You can submit up to 500 customer-initiated transactions 2, 3 per statement cycle that will be processed at no charge. If more than 500 customer initiated transactions 2, 3 are processed per statement cycle, excess item fees of 35¢ per item will be imposed.

  • Up to $75 off first order of checks.
  • FREE Online Banking
  • FREE Bill Payment Services 4
  • FREE eStatements
  • FREE Images of Cancelled Checks
  • FREE 24-Hour Telephone Banking
  • FREE Visa® Business Credit Card (no annual fee) 4
  • FREE Unlimited Currency and Rolled Coin Deposit Processing.
  • FREE ATM Access at Hundreds of Surcharge Free ATMs 5
  • If you maintain the $2,500 minimum balance requirement, there are no monthly maintenance fees. If your balance falls below this level, a $15 monthly maintenance fee is imposed.
  • If more than 500 customer initiated transactions 2,3 are processed per statement cycle, excess item fees of 35¢ per item will be imposed.
  • Free Electronic NSF Check Recovery Service.
  • Merchant BankCard Services are available.
  • Merchant Capture Services are available.

Business Interest Banking

This account is available to any business with the desire to earn interest on checking funds. Avoid paying monthly service charges by maintaining an average balance of just $5,000. You can submit up to 250 customer initiated transactions 2,3 per statement cycle that will be processed at no charge. If more than 250 customer initiated transactions 2, 3 are processed per statement cycle, excess item fees of 35¢ per item will be imposed.

  • Up to $75 off first order of checks.
  • FREE Online Banking
  • FREE Bill Payment Services 4
  • FREE eStatements
  • FREE Images of Cancelled Checks
  • FREE 24-Hour Telephone Banking
  • FREE Visa ® Business Credit Card (no annual fee)
  • FREE Unlimited Currency and Rolled Coin Deposit Processing.
  • FREE ATM Access at Hundreds of Surcharge Free ATMs 5
  • If you maintain the $5,000 minimum balance requirement, there are no monthly maintenance fees. If your balance falls below this level, a $15.00 monthly maintenance fee is imposed.
  • If more than 250 customer initiated transactions 1,2,3 are processed per statement cycle, excess item fees of 35¢ per item will be imposed.
  • Earn a competitive interest rate on balances of $5,000 or greater.
  • Free Electronic NSF Check Recovery Service.
  • Merchant BankCard Services are available.
  • Merchant Capture Services are available.

Community Banking

Bank of Botetourt is taking care of the organizations that serve our community with this FREE account.  Community Banking is designed to meet the needs of local schools, municipalities, clubs and non-profit organizations with limited or seasonal checking account activity. There is no average balance requirement or per item fee!

Business Money Market 

This account is a great option for those who wish to earn interest on liquid funds without having to tie up money in longer-term investments. Our Money Market account pays tiered interest rates based on the daily collected balance in the account. The higher your balance, the more you can earn.

An opening deposit of $2,500 is required. If you maintain the $2,500 minimum average monthly balance requirement, there are no monthly maintenance fees.  If your balance falls below this level, a $15 monthly maintenance fee will be imposed.

  • FREE trial order of 50 wallet checks.
  • FREE Online Banking
  • FREE Bill Payment Services 4
  • FREE eStatements
  • FREE Images of Cancelled Checks
  • FREE 24-Hour Telephone Banking
  • FREE Visa® Business Credit Card (no annual fee) 4
  • FREE Unlimited Currency and Rolled Coin Deposit Processing.
  • Loose Coin Processing - FREE up to $50 and 5% of amounts over $50.
  • If you maintain the $2,500 minimum balance requirement, there are no monthly maintenance fees. If your balance falls below this level, a $15 monthly maintenance fee is imposed.
  • If more than 6 preauthorized transfers are processed per statement cycle, there will be a $10 fee per transfer.
  • Earn a competitive interest rate on balances of $2,500 greater.
  • Free Electronic NSF Check Recovery Service.

Commercial Management Banking

Our non-interest bearing Commercial Management Banking account is designed for businesses with higher activity levels who wish to reduce or even eliminate monthly service charges. With this account, monthly maintenance fees and activity costs are offset by an earnings allowance. Commercial Management Banking can also improve the way you manage finances across all areas of your business, such as payroll, savings and daily operations. Commercial Management Banking is available for business entities.

  • Maintenance Fee: $150
  • Earnings Credit: Determined by Bank of Botetourt
  • Account Activity Analysis
  • Online Cash Management

Business Banking Comparison Chart

Account Name

Description

Required Average Monthly Balance to avoid

monthly fees

Monthly Maintenance Fees

(Imposed only if minimum average monthly balance is not maintained)

Basic Business

Banking

This account is best suited for businesses with low checking account activity.  There are no minimum balance requirements!

$0

$0

Advantage Business Banking

This affordable checking account

is best suited for businesses

with higher levels of

checking account activity.

$2,500

$15

Community Banking

Bank of Botetourt is taking care of the organizations that serve our community with this FREE account.

$0

$0

Business Interest Banking

This account is available to any business with the desire to earn interest on checking funds. 

$5,000

$15

Business Money Market

This account is a great option for those who wish to earn interest on liquid funds without having to tie up money in longer-term investments.

$2,500

$15

Commercial Management Banking

This non-interest bearing account is designed for businesses with higher activity levels who wish to reduce or even eliminate monthly service charges. Take advantage of Account Activity Analysis and Cash Management services.

Compensating balance determined by the bank

$150 (With this account, monthly maintenance fees and activity costs are offset by an earnings allowance.)

Additional service fees may be applicable to these accounts. Please refer to the bank's Commercial Schedule of Fees brochure for more information.

Visit one of our convenient locations to apply for a Business Banking account

1 Monthly Combined Transactions include Electronic and Paper items.

2 Electronic items include: The transfer or withdrawal of funds completed using the 24-hour telephone banking service; Transactions completed using the Bank of Botetourt Visa Debit Card (i.e., POS (Point of Sale) debit/credit transactions or ATM (Automated Teller Machine) transactions); Transactions completed using any online bill payment service (i.e., web transfers, direct deposits, automatic drafts/debits, payments made through the online bill payment service and processed through the ACH (Automated Clearing House)

3 Paper items include: Deposits, transfers, checks made payable to third parties or checks made payable to cash. (Transactions you complete in person, over the counter, through the night depository, through the drive-up teller window or by live telephone request are considered Paper items.)

4 Standard credit approval criteria apply for online bill payment services and business credit cards.

5 Bank of Botetourt customers using Bank of Botetourt ATMs and ATMs inside Sheetz® stores will not receive a surcharge for their transactions. Bank of Botetourt ATM locations are available online at www.bankofbotetourt.com/atm-locations.

6 Federal regulations governing money market accounts limit transaction activity on these accounts. You may make six (6) preauthorized transfers, including telephone and web transactions, from your account per month. Federal regulations allow three (3) of these six transactions per statement cycle to be payments made by check, draft or similar order to third parties. Transactions which exceed federal regulations will be charged excess item fees. If account limitations are continuously exceeded, the money market account will be closed and/or converted to a standard checking account as required by federal regulations. Deposits, transfers or withdrawals made in person, by mail or by messenger are unlimited.

7 A preauthorized transfer is the transfer or withdrawal of funds by check, by telephone, or by wire, by electronic means; including the use of online banking services; the use of overdraft protection and/or automatic (ACH) payments.

8 If transaction activity in your money market account exceeds the Federal regulations described above, excess item fees will be imposed. If account limitations are continuously exceeded, the money market account will be closed and/or converted to a standard checking account as required by federal regulations.

Additional service fees may be applicable to these accounts. Please refer to the Bank’s Commercial Schedule of Fees for more information.

 

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