Business Checking

Health Savings Account – It’s a checking account.

Pay for your family’s medical and health expenses with money that earns interest, tax deferred with contributions that are excluded from income. If you are covered under a high deductible health plan, you would be eligible to open a Health Savings Account. This interest-bearing checking account has tiered rates and is used to pay qualified* health expenses. Unused contributions carry from year to year, and your account is portable.

HSA and Your Employees

Health Savings Accounts provide a tax deduction for employers who contribute to their employees’ accounts. Known to attract or retain employees by expanding employee benefits, an HSA can lower overall health insurance costs by switching to the less costly high deductible health plans.

HSA Requirements and Fees

Minimum Opening Balance = $10
Minimum Daily Balance to avoid Minimum Balance Fee = $1,000**
Minimum Balance Fee = $2.50
Minimum Balance to Obtain APY = 1st tier ($100); 2nd tier ($1,000); 3rd tier ($5,000)

APY = Annual Percentage Yield

* Consult a tax advisor for a list of qualified medical expenses. For qualifying customers only.

** A Minimum Balance Fee will be imposed every statement period if the daily balance in the account falls below the minimum daily balance any day of the statement period. Service charges may reduce earnings.

Commercial Checking

Business Money Market Checking

Business NOW Checking

Business
Checking

Non-Profit
Checking

Type of Business

Corporations, partnerships, sole proprietorships, limited liability companies, non-profit organizations, and government units

Corporations, partnerships, sole proprietorships, and government units

Sole proprietorships, non-profit organizations, and governmental units (Federal law prohibits corporations, partnerships & LLCs.)

Corporations, partnerships, sole proprietorships, and organizations with low to moderate account activity

Non-Profit

Minimum Opening Balance

$2,500

$750

Minimum Daily Balance

$2,500 to avoid Minimum Balance Fee; $0 to obtain APY

$750 to avoid Minimum Balance Fee; $0 to obtain APY

Minimum Balance Fee

$10 or See (*A) to avoid Minimum Balance Fee

Monthly Maintenance Fee

$15

Per Item Fee

$0.20 per check/debit;
$0.25 per deposit/credit;
– Item Deposited –
$0.08 per transit item;
$0.06 per Pioneer Bank item or See (*C) to avoid Per Item Fee

Interest Bearing

Yes

Compounded and Credited Interest

Monthly

Transfer Limits

Yes – See (*B)

Monthly Statement

Yes

Check Safekeeping

Free

Terms and Conditions:

APY = Annual Percentage Yield

(*A) A Minimum Balance Fee will be imposed every statement period if the daily balance in the account falls below the minimum daily balance any day of the statement period. Service charges may reduce earnings.

(*B) You may not make more than six (6) transfers and withdrawals from your account per month by means of a preauthorized or automatic transfer or telephone (including data transmission) agreement, order or instruction or by check, draft, debit card or similar order payable to third parties.
Excess Transaction Fee (over 6 items per cycle): $15 per item

(*C) The earnings credit is calculated on your average collected balance, less 10% reserve requirement. The credit is based on a leading market index. You will not be paid for any excess earnings credit, but any excess will be carried forward. If the average collected balance is negative, no earnings credit is applied.

Sample Analysis

Monthly Maintenance Fee
65 Checks/Debits
8 Deposits/Credits
40 Transit Items
15 Pioneer Bank Deposited Items

Earnings Credit at 0.18% on collected balance of $3,500. (Example rate only. Rate may change each statement period.)
Service Charge for Statement Period

$5.00
13.00
2.00
3.20
0.90
———-
$24.10

$0.53
$23.58

Additional Services & Products
	All Business Checking Accounts
Direct Deposit	– Get direct deposit for easy access to funds. Also, with Cash Management your business can provide direct deposit for your employees. Go to our Cash Management web page or call for an appointment with a Pioneer Bank ACH specialist to learn more. No need to come to the bank – the ACH specialist will visit you. Brochures are available upon request.
MasterCard® Credit Card	– Includes ScoreCard™ CashBack Incentive program. – For qualifying customers only
Overdraft Protection	– No Annual Fee – For qualifying customers only
Online Banking	– Free 24-hour account access. – View daily balances and your latest transactions.
E-Statements	– Choose to change one or all of your statements to E-Statements. – Enroll in minutes from the “Electronic Statement” menu tab in your Online Banking account. Go to E-Statements for more details.
Cash Management	– Improve your cash flow with your own customized Cash Management Program. – Rates available upon request. – Requirements: Free Online Banking and a Pioneer Bank business checking account
Bill Payment	– Businesses can make online payments with our Bill Payment service. – Low monthly fee = $5.95 – If you have more than 10 items from statement date to statement date, a $0.40 per item fee will also apply. – Requirements: Free Online Banking and a Pioneer Bank business checking account
Telephone Banking	– Free 24-hour account access to hear your daily balances and transactions. – Transfer funds between your Pioneer Bank accounts. – Make loan payments.
Checks	– Price varies according to style and quantity.