Analysis Checking
The monthly service charge for Crossroads Bank’s Business Checking Account is determined through the process of Account Analysis. This monthly analysis often results in a credit, designed to offset processing and service fees. We first determine your earnings credit based on a percentage of your monthly average collected balance. Account Analysis is a comprehensive analysis of services used and balances maintained.
Below are two examples of how Account Analysis works:
Example #1
Net collected balance = $3,500.00
Earnings credit = $5.75*
Total activity fee = ($10.75)
Net Service Charge = ($5.00)
Service Charge Due
Example #2
Net collected balance = $15,000.00
Earnings credit = $24.66*
Total activity fee = ($12.00)
Net Service Charge = $0.00
No Service Charge Due
An earnings credit allowance is calculated based on the monthly average collected balance less reserves. This allowance may offset some or all of the monthly service charges. An earnings credit rate (ECR) is used to calculate the earnings credit allowance. The earnings credit rate may change monthly without notification.
Benefits
- Account Analysis Statement provides a more detailed view of account activity.
- Your business is only paying for the level of service that is being utilized each month.
- An Account Analysis statement will provide business customers with the information of the balance required to totally eliminate a service fee so that they can maximize earnings on their idle funds.
*Based on estimated 2% Earnings Credit Rate. An earnings credit is used for computing net service charges, and is calculated as a percentage of the account’s net collected balance. It does not represent a payment of interest, which is expressly prohibited by current federal regulations governing business checking accounts.