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Business Savings Accounts
Running a business can be hard but saving money doesn’t have to be. We offer a variety of savings options to fit your business banking needs.
Savings Accounts
Our business savings accounts provide you with a great way to save while earning interest on your money. From a traditional savings account, to CDs and high-yield money market accounts... we’ve got your business covered.
Add even greater convenience when you combine with our business online banking service. You’ll have 24/7/365 access and total control over your business finances.
Contact us to receive the switch kit.
| Item | Business Savings | Business CDs | Business Money Market | Business High Yield Money Market |
|---|---|---|---|---|
| Minimum Opening Deposit | $100 | $1,000 | $1,000 | $100,000 |
| Minimum Daily Balance to Avoid Service Charge | $100 | N/A | $1,000 to avoid monthly service charge | $100,000 to avoid monthly service charge |
| Service Fee | $3 monthly fee if balance falls below minimum | N/A | $10 monthly when below minimum | $10 monthly when below minimum |
| Restrictions | 3 Free withdrawals monthly; $1 each thereafter | Substantial penalty may be be assessed upon early withdrawal of CD funds prior to maturity | 6 Free withdrawals monthly; $5 each thereafter | 6 Free withdrawals monthly; $5 each thereafter |
| Visa Debit Card | Not without a checking account | N/A | Yes | Yes |
| Online Banking Access | Yes | Yes | Yes | Yes |
| Free Checks | N/A | N/A | Yes | Yes |
Additional Money Market Features
Both of our Money Market Accounts also include the following convenient features:
Free e-Statements
Free checks
Free direct deposit
Create and manage mobile application text and email alerts
Health Savings Accounts
Who Can Have One?
Anyone under the age of 65 who is covered by a High-Deductible Health Plan (HDHP), who has no other general health coverage, is not enrolled in Medicare, and can't be claimed as a dependent on someone else's tax return is eligible to open a Health Savings Account.
Why should my business offer an HSA?
You can save money by:
Having a high-deductible HSA-eligible health insurance plan typically has a lower premium than a plan with a lower deductible
Your employees may be able to deduct 100% of HSA contributions from their taxable income
Your employees accrue interest on a tax-free basis
Employees should consult their tax advisor to discuss their tax status
Your employees pay no penalties or taxes when they use their HSA to pay for qualified medical expenses
Why choose United Republic Bank for your HSA?
Premium interest rates
Cost effective
No set-up fee
No annual fee
Advantages
Offering an HDHP in conjunction with Health Savings Accounts to your employees can be a great way to decrease your company’s health care expenses. Add our Cash Management services, and you can easily make contributions to your employees’ accounts on a single or recurring basis electronically.
Account Features
$10 minimum opening deposit
$250 minimum balance; $3 monthly fee when below minimum
Free e-Statements
Visa® Debit Card with Card Management
Online Banking with CheckFree® Bill Pay
Earn interest
Year-end reports
For more information regarding annual limits and rules governing HSAs, we suggest you also visit the Internal Revenue Service (IRS) website.