FDIC-Insured - Backed by the full faith and credit of the U.S. Government

FDIC-Insured - Backed by the full faith and credit of the U.S. Government

All Business Checking Accounts at HCN Bank have the following benefits available:

  • Mastercard Debit Card

  • Online Banking with Bill Pay

  • eStatements

  • 24-hour telephone banking

  • Monthly statements with check images

Account Options

Product
Freedom Business Checking
Business Checking
Business Interest Checking
Business Analysis Account
Non-Profit

Description:

An account free of a monthly maintenance fee ideal for businesses with low cash and transaction activity.

A versatile and low cost account suitable for businesses with low to moderate transaction activity.

A versatile and low cost account suitable for businesses with low to moderate transaction activity.

Businesses that have activity levels in excess of the Business Checking levels or utilize additional cash management services.

Available to Nonprofit/Not for Profit Organizations with 501c filing with low to moderate transaction activity.

Monthly Activities:

Up to:

 30 deposits¹

 100      checks/debits     paid per month¹

 150 checks     deposited per     month

 

Up to:

 30 deposits¹

 200      checks/debits     paid per     month¹

Up to:

 30 deposits¹

 200      checks/debits     paid per     month¹

Collected monthly balances earn credits which offset monthly fees

Up to:

 30 deposits¹

 200      checks/debi      ts  paid per      month¹

Monthly Service Fee:

$0.00

$10.00

$12.00

$15.00
plus activity charges based on services used and account activity

$8.00

Ways to Avoid Monthly Maintenance Fee:

N/A

$1,500

(Minimum daily balanced)

$2,500

(Minimum daily balanced)

Earnings credit on calculated balances

$700

(Minimum daily balanced)

Interest Bearing

No

No

Yes²

No

No

Beneficial Ownership Requirements Overview

Zero Balance Accounts

HCN Bank's Zero Balance Accounts (ZBA) are special purpose accounts (payroll, operating, vendor, multiple locations, etc.) that are linked to a master account.  The ZBAs maintain a balance of $0.  All deposits made to the ZBA sub accounts are automatically transferred to a master account, and all checks and withdrawals posted to a ZBA sub account are automatically funded from the master account.  The structure is flexible and can be tailored to the needs of the business.

Benefits of a Zero Balance Account

  • Eliminates time spent on manually funding subsidiary accounts

  • Eliminates the need to track balance levels and funding requirements

  • Saves clerical time and expenses

  • Maximizes funds available for investments and minimizes risk of overdraft fees

  • Permits easy tracking of transfers and reconciliation through cross-referencing account numbers on Bank statements

1 Electronic debits or credits are not considered when calculating the per debit or deposit fee. Transaction charges apply if monthly limits are exceeded.

2 Minimum balance of $1,000 must be maintained in the account each day to obtain the minimum disclosed APY. Variable rate may change daily and interest is compounded monthly.

Interest begins to accrue no later than the business day we received credit for the deposit of non-cash items (example: checks).