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Business Checking


Business Checking Account Comparison Chart

Description Minimum Balance Req. Service Charge
This account is best suited for start-up businesses with low checking account activity. There's no charge for electronic transactions1 and up to 10 checks per statement cycle will be processed at no charge.

$0

$1 per check for more than ten (10) checks
Up to 500 paper items2 per month will be processed at no charge. Take advantage of unlimited teller transactions with free cash and loose coin processing.

$2,500

$15 per month (This fee is waived if you maintain the required minimum balance.)
Community Checking is designed to meet the needs of local schools, municipalities, clubs and non-profit organizations with limited or seasonal checking account activity.

$0

$0
Earn a competitive interest rate on balances of $2,500.00 or greater. Up to 100 paper items2 will be processed at no charge.

$2,500

$15 per month (This fee is waived if you maintain the required minimum balance.)
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.

$2,500

$15 per month (This fee is waived if you maintain the required minimum balance.)
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.

We know that you have to make challenging business decisions every day. Deciding which business checking account is right foryou 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. Our smiling employees will be glad to assist you over the phone or in person.

Basic Business Checking

This account is best suited for start-up businesses with low checking account activity. There's no charge for electronic transactions1 and up to 10 checks per statement cycle will be processed at no charge.

  • Receive your first order of checks for FREE.
  • FREE cash processing.
  • No minimum balance requirements.
  • If more than 10 checks are processed per statement cycle, excess item fees of $1.00 per check will be imposed.

Advantage Business Checking

This affordable checking account for small to medium sized businesses is packed with perks! Avoid paying monthly service charges by maintaining a minimum balance of just $2,500.00. Electronic items1 are unlimited and you can submit up to 500 paper items2 per statement cycle completely FREE.

  • Receive your first order of checks for FREE.
  • Unlimited teller transactions with FREE cash and loose coin processing.
  • FREE Online Banking and 24-Hour Telephone Banking.
  • FREE Visa Business Check Card.3,4
  • No Annual Fee Visa Business Credit Card.3
  • If you maintain the $2,500.00 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 500 paper items2 are processed per statement cycle, excess item fees of 50¢ per item will be imposed.
  • Cash sweep privileges are available for a low monthly fee of only $20.00.

Business Interest Checking

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

  • Earn a competitive interest rate on balances of $2,500.00 or greater.
  • Enjoy unlimited electronic1 and paper2 transactions.
  • Receive your first order of checks for FREE.
  • If you maintain the $2,500.00 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 100 paper items2 are processed per statement cycle, excess item fees of .50¢ per item will be imposed.
  • FREE Online Banking and 24-Hour Telephone Banking.
  • FREE Visa Business Check Card.3,4
  • No Annual Fee Visa Business Credit Card.3
  • Cash sweep privileges are available for a low monthly fee of only $20.00.

Free Community Checking

Bank of Botetourt is taking care of the organizations that serve our community with this FREE account. Community Checking is designed to meet the needs of local schools, municipalities, clubs and non-profit organizations with limited or seasonal checking account activity.

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.

  • Receive your first order of checks for FREE.
  • FREE Online Banking and 24-Hour Telephone Banking.
  • No Annual Fee Visa Business Credit Card.3
  • An opening deposit of $2,500.00 is required.
  • Unlimited deposits, transfers or withdrawals can be made in person, by mail or by messenger.
  • Federal regulations governing money market accounts limit transaction activity on these accounts6. You may make six (6) preauthorized transfers7, 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.
  • If transaction activity in your money market account exceeds the Federal regulations described above, excess item fees of $10.00 per transaction 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.
  • If you maintain the $2,500.00 minimum balance requirement, there are no monthly maintenance fees. If your balance falls below this level, a $15.00 monthly maintenance fee will be imposed.

Commercial Management Checking

Our non-interest bearing Commercial Management Checking 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 Checking can also improve the way you manage finances across all areas of your business, such as payroll, savings and daily operations. Commercial Management Checking is available for business entities.

  • Maintenance Fee: $150.00
  • Earnings Credit: Determined by Bank of Botetourt
  • Account Activity Analysis
  • Online Cash Management

1 - 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 Check Card (i.e. POS (Point Of Sale) debit/credit transactions or ATM (Automated Teller Machine) transactions); Transactions completed using online banking and 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.)
2 - 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.)
3 - Standard credit approval criteria apply for online bill payment services, business check cards and credit cards.
4 - Bank of Botetourt customers using Bank of Botetourt ATMs, ATMs inside Sheetz stores or at ATMs displaying the No SUR! logo will not receive a surcharge for their transactions. Bank of Botetourt ATM locations are available online atwww.bankofbotetourt.com. Sheetz locator maps are available in all Bank of Botetourt offices
6 - Federal regulations governing money market accounts limit transaction activity on these accounts. You may make six (6) preauthorized transfers7, 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 an excess item fee of $10.00 per transaction. 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.
 

 

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

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