 |
 |
 |
 |
 |
|
|
Country Bank specializes in serving small to mid-size business in the New York metropolitan area.
We offer our business customers a variety of products and services to help you manage your business and reach your financial goals.
Simplified Business Checking
Simplified Business Checking is for the business client who does not anticipate high volume account activity. This account offers clients up to 150 free transactions each statement cycle, and no monthly maintenance charge if a $10,000 average daily balance is maintained in the account. If the balance falls below $10,000, the monthly maintenance charge would be a flat fee of $12.00 per statement cycle. A transaction fee of $.25 is charged for each transaction in excess of 150 transactions.
Contact your Country Bank Representative for complete disclosure.
Business Checking
Our Business Checking product is designed to benefit the business client with high transaction volume. There is a monthly service charge of $12.00. Each transaction made on this is account is charged as follows:
- Each Deposit 20 cents
- Each Check Deposited 20 cents
- Each Item Debited 20 cents
Plus, each $100 in balances receives an earnings credit, which can help offset service charges.
Contact your Country Bank Representative for complete disclosure.
Business NOW Checking
Business NOW Checking is the interest bearing-checking plan available to all businesses except corporations. Interest is compounded daily and credited to the account monthly. The minimum balance requirement is $3,000 or a monthly maintenance fee of $15.00 will be charged.
Contact your Country Bank Representative for complete disclosure.
Non-Profit Organization Checking
Country Bank's Non-Profit Organization Checking is a plan designed to meet the needs of 501-c-3 organizations. A $100 minimum deposit is required. There are no monthly service fees.
Contact your Country Bank Representative for complete disclosure.
Business Savings
Business Statement Savings is a day-to-day savings product with a minimum balance requirement of $500 to avoid a monthly service charge. Interest is compounded daily and credited to the account monthly. If you are looking to earn interest but can not tie up your funds for a specified time period, this product will meet your needs.
Contact your Country Bank Representative for complete disclosure.
Money Market Account
Earn money market rates with the security of FDIC insurance. The Country Bank Money Market Account is an interest bearing account with limited check writing privileges. You must open the account with an initial deposit of $2,500 and maintain a balance of $2,500 to obtain interest. There is no monthly maintenance charge with balances of $2,500 or more. If the balance falls below $2,500, there is a $15.00 monthly maintenance charge.
Contact your Country Bank Representative for complete disclosure.
Merchant Services
This product provides our business customers with the ability to accept credit and debit card payments and have those funds deposited directly to their Country Bank account.
Accepting credit and debit cards increases potential sales for a business. Studies show that the amount of the average purchase is higher when your customers aren’t limited by the amount of cash they have on-hand.
Less risk, lower costs. Accepting credit and debit cards eliminates the risks and costs associated with handling personal checks and cash.
Escrow Manager
We offer a product that will manage your escrow accounts for you – the Country Bank Escrow Manager. This one account allows you to combine separate escrow account funds in a single master account. We will maintain separate account records of each of your sub-accounts and provide you with a comprehensive statement each month. Thus, the Country Bank Escrow Manager will reduce costly paperwork while still maintaining a clear audit trail. You no longer need to keep track of individual accounts, deposit slips or 1099 forms.
A SINGLE ESCROW ACCOUNT
The Country Bank Escrow Manager also allows you to attach an unlimited number of sub-accounts to your master account without having to go through the complete account opening procedure. Just have your client complete a Form W-9 for tax reporting of interest earnings. And, there is no minimum deposit for any new sub-account. If you have an existing operating account, you can use it as your disbursement checking account.
SUB – ACCOUNTS
Country Bank will identify each escrow sub-account you open by your client’s Taxpayer Identification Number (TIN). Just have your client provide his TIN on a Form W-9.
Individual sub-accounts can be established by presenting your pre-printed escrow deposit ticket to a Customer Service Representative at any branch office.
ACCESS
Accessing your Country Bank Escrow Manager is simple. When you want to make a deposit to a sub-account, simply complete the pre-printed escrow deposit ticket and include your client’s name, address and TIN. You no longer need to keep a separate checkbook for each escrow you manage.
When you need to make a withdrawal or obtain information about your escrow accounts, just call our Escrow Manager Line. Be sure to have your master account number and authorization code ready. We will transfer funds from the appropriate sub-account to your disbursement account.
You can close a sub-account at any time without changing the status of your master account.
SAFETY
When you open a Country Bank Escrow Manager, your client’s funds are safe. Account inquires are answered only for persons you authorize. When a telephone inquiry is made, the person must identify himself by using your assigned authorization code. Unauthorized inquires automatically trigger a confirmation telephone call to you before any information can be released.
CONSOLIDATED STATEMENT
Each month, you will receive a statement with your consolidated master account transaction history. You will also receive a comprehensive monthly statement with a detailed transaction history of all your sub-accounts. This statement reflects the up-to-date account balance and accrued interest information for each sub-account.
All sub-account balances reconcile on both statements, relieving you of this time consuming task.
IRS REPORTING
Country Bank will mail each customer his Form 1099 and handle all required IRS reporting responsibilities for you.
INTEREST
When you first open a Country Bank Escrow Manager, your client can choose whether he wants an interest-bearing or non-interest bearing escrow account. If your client chooses an interest-bearing account, his funds will earn a comprehensive rate of interest.
INSURANCE
Each one of your client’s deposits is insured for up to $100,000 by the Federal Depository Insurance Corporation (FDIC). In addition to FDIC insurance, we insure that your Country Bank Escrow Manager will be professionally managed.
The Country Bank Escrow Manager is economical, convenient and time-saving. It streamlines escrow account opening and closing procedures, allowing you to operate more efficiently. Best of all, it’s so simple; you’ll wonder how you managed without it!
For additional information, click below or stop by one of our locations and a Country Bank Representative will be delighted to help you.
|
||||
