Commercial Banking

Business Account

Merchants Bank of Alabama offers Business Checking for proprietorships, partnerships and corporations.

The charge for our Business Account is determined by a profitability analysis each month. This analysis gives you earnings credit on your average positive usable balance (which is your monthly ledger balance minus uncollected funds and checking account reserve requirements). A service charge applies only when the fees for activity exceed the earnings on the balances maintained. Many of our business customers maintain balances that offset the charges for activity and, therefore, have no service charge.

The statement cycle is from the first through the last day of the month. Your account is charged $8.00 monthly minimum maintenance charge, plus the following charges:

$.13 per check paid
$.20 per deposit
$.06 per item deposited

Accounts using uncollected funds to clear checks/debits are charged negative collected balance-interest at a rate prime + 2%.

Additional services such as incoming and outgoing wire transfers, return items and balance inquiries can be included in the analysis so there is no direct charge for these services. If you maintain offsetting balances, no service charge will be assessed.

Business Now Account

With a minimum opening deposit of $1,000 or more, our Business NOW Account is analyzed like our Business Account, although interest is paid on the average daily collected balance. If you maintain a minimum daily balance of $1,000 or more, there is no monthly service charge. Should your balance drop below this level, a $8.00 monthly maintenance charge is assessed.

This account is only available for sole proprietorships.

Small Business Account

For businesses with low account activity, our Small Business Account may be the perfect solution. This non-interest-bearing business account is available with a minimum opening of $100.

Simply maintain a minimum daily balance of $500, or an average monthly balance of $1,500, and you will have no service charge. If you do not maintain either of these balance requirements; you will receive a flat monthly maintenance charge of $15.00. Additionally, you are never charged for any combination of less than 500 processed items per month, including deposit items or cleared checks. If 500 or more items are processed during the month, there is a $.25 per item charge.

Each depositor insured to $250,000 by the FDIC.

Print Commercial Banking Brochure.

   Copyright 2013 Merchants Bank of Alabama.
900 Second Ave SW Cullman, AL 35055
(256) 734-8110 or 1-800-840-4458