- Better Business Checking
- Business Classic Checking
- Business Plus Checking
- Business Interest Checking (NOW)
- IOLTA Checking
- Business Tiered Money Market
- Overdraft / Sweep Protection
- Opening an account
- Financial Calculators
- Rates
- Online Banking and Bill Payment
Better Business Checking Account
Our Better Business product is a low-cost solution that provides business owners more control over fees and predicable transaction activity. This basic business checking account is ideal for businesses that make fewer than 250 transactions every month. A minimum daily balance of $2,000.00 is required to avoid a $10.00 monthly fee. Monthly statement will be generated for this account. Your check images will be returned within the statement.
- Minimum to Open: $1,000.00
- Monthly Account Maintenance Fee: $10.00 – if balance falls below minimum daily balance of $2,000.00 any day during the month.
- 250 transactions per month. A $0.45 per item will be charge for each item in excess of 250 per month. This will include check paid, debit items, deposit item charge, credit item and each check deposited.
- Overdraft Sweep Protection available
- Free email wire transfer confirmation
- Unlimited Teller services
- Free Bill Payer
- Free Online Banking
Online Banking - Online banking is available on these accounts allowing you to monitor your business 24 hours a day. All that is need is a login and password. There is no fee for this feature. Although, internet banking may incur charges by your Internet Service Providers (ISP) not associated with Bank of Coral Gables.
Bill Payment - The Bill Payment feature is available on this account helping you keep your business payments to clients and vendors timely and orderly. Use of Bill Payment makes it easier to smooth your cash flow. Bank of Coral Gables does not charge a monthly fee for the Bill Payment feature but payments made will be charged the stated per item charge as usual with the pricing of the Business Checking Analysis or Small Business checking accounts.
Additional service fees may apply. Please ask your Personal Banker for our schedule of service fees and charges.
Business Classic Checking Account
This account is designed for those business customers with balances greater than $10,000.00 and less than 400 transactions every month. A minimum daily balance of $10,000.00 is required to avoid a $25.00 monthly fee. A monthly statement will be generated for this account. Your check images will be returned within the statement.
- Minimum to open: $5,000.00
- Monthly Account Maintenance Fee: $20.00 – If balance falls below daily minimum of $10,000.00 any day during the month.
- 400 transactions per month. A $0.45 per item will be charge for each item in excess of 400 per month. This will include check paid, debit items, deposit item charge, credit item and each check deposited.
- Overdraft Sweep Protection available
- Free email wire transfer confirmation
- Unlimited Teller services
- Free Bill Payer
- Free Online Banking
Additional service fees may apply. Please ask your Personal Banker for our Schedule of Service Fees and Charges.
Online Banking - Online banking is available on these accounts allowing you to monitor your business 24 hours a day. All that is need is a login and password. There is no fee for this feature. Although, internet banking may incur charges by your Internet Service Providers (ISP) not associated with Bank of Coral Gables.
Bill Payment - The Bill Payment feature is available on this account helping you keep your business payments to clients and vendors timely and orderly. Use of Bill Payment makes it easier to smooth your cash flow. Bank of Coral Gables does not charge a monthly fee for the Bill Payment feature but payments made will be charged the stated per item charge as usual with the pricing of the Business Checking Analysis or Small Business checking accounts.
Business Plus Checking Account
This account is designed for those business customers with balances greater than $50,000.00 and higher transaction activity levels. A minimum daily balance of $50,000.00 is required to avoid a $50.00 monthly fee. A monthly statement will be generated for this account. Your check images will be returned within the statement.
- Minimum to open: $25,000.00
- Monthly Account Maintenance Fee: $50.00 – If balance falls below daily minimum of $50,000.00 any day during the month.
- Unlimited transactions
- Overdraft Sweep Protection available
- Free email wire transfer confirmation
- Unlimited Teller services
- Free Bill Payer
- Free Online Banking
Additional service fees may apply. Please ask your Personal Banker for our Schedule of Service Fees and Charges.
Online Banking - Online banking is available on these accounts allowing you to monitor your business 24 hours a day. All that is need is a login and password. There is no fee for this feature. Although, internet banking may incur charges by your Internet Service Providers (ISP) not associated with Bank of Coral Gables.
Bill Payment - The Bill Payment feature is available on this account helping you keep your business payments to clients and vendors timely and orderly. Use of Bill Payment makes it easier to smooth your cash flow. Bank of Coral Gables does not charge a monthly fee for the Bill Payment feature but payments made will be charged the stated per item charge as usual with the pricing of the Business Checking Analysis or Small Business checking accounts.
Business Interest Checking (NOW) Account
Our business customers who normally carry higher daily balances will benefit with a Business Interest Checking (NOW) account. This account features unlimited deposits and check writing features with no per item fees.
- Minimum to Open: $500.00
- Monthly Service Maintenance Fee: $20.00 - If balance falls below daily minimum of $2,500.00 any day during the month.
- Free email wire transfer confirmation
- Unlimited Teller services
- Free Bill Payer
- Free Online Banking
Click here for current rates.
Additional service fees may apply. Please ask your Personal Banker for our Schedule of Service Fees and Charges.
Online Banking - Online banking is available on these accounts allowing you to monitor your business 24 hours a day. All that is need is a login and password. There is no fee for this feature. Although, internet banking may incur charges by your Internet Service Providers (ISP) not associated with Bank of Coral Gables.
Bill Payment - The Bill Payment feature is available on this account helping you keep your business payments to clients and vendors timely and orderly. Use of Bill Payment makes it easier to smooth your cash flow. Bank of Coral Gables does not charge a monthly fee for the Bill Payment feature but payments made will be charged the stated per item charge as usual with the pricing of the Business Checking Analysis or Small Business checking accounts.
IOLTA Checking Account
Bank of Coral Gables offers Interest on Trust Accounts (IOTA) for attorney's escrow account needs. T his account allows interest earned from client accounts held in trust to be automatically disbursed to the Florida Bar Association, less any monthly service fees.
- Minimum to Open: $100.00
- Monthly Service Fee: $15.00 if the daily minimum balance falls below $1,000.00.
Statements are prepared monthly at the end of the month and check images will be included in the statement.
Additional service fees may apply. Please ask your Personal Banker for our Schedule of Service Fees and Charges.
IOLTA Checking Accounts will be fully insured through December 31, 2012.
Click here for current rates.
Business Tiered Money Market
A Bank of Coral Gables Tiered Money Market Account gives you interest on your funds with more liquidity than a Certificate of Deposit. The Tiered Money Market rates are variable and are subject to change without notice. The higher your balance, the higher the interest rate paid. The Tiered Money Market Checking Account is a checking account with some restrictions on check writing placed by the Federal Reserve. Federal regulations limit you to no more than six transfers or withdrawals (or a combination of six transfers and withdrawals) per monthly statement cycle by means of a preauthorized or automatic transfer, order of instruction, or telephonic (including data transmission) agreement. This applies to both transfers to another account at Bank of Coral Gables and to transfers to third parties. A $10.00 excess item fee will be charged to your account for each transaction that exceeds the maximum allowance of transfers per statement cycle.
However, there is no limit on the number of transfers for the purpose of repaying a loan and related expenses at Bank of Coral Gables. Also, there is no limit on transfers to another one of your deposit accounts at Bank of Coral Gables or withdrawals paid directly to you when such transfers are made in person, by mail, by messenger service. Similarly, there is no limit on the withdrawals requested by telephone to a banker and paid via cashiers check mailed to you.
Statements are produced on a monthly basis with imaged checks.
The Bank of Coral Gables Business Tiered Money Market Account offers:
- Minimum to Open: $1,000.00
- Monthly Fee: No monthly fee if your daily balance during the statement cycle is $5,000.00 or greater. A $20.00 monthly fee is charged if the daily balance during the statement cycle falls below $5,000.00.
Online Banking - Online banking is available on these accounts allowing you to monitor your business 24 hours a day. All that is need is a login and password. There is no fee for this feature. Although, internet banking may incur charges by your Internet Service Providers (ISP) not associated with Bank of Coral Gables.
Bill Payment - The Bill Payment feature is available on this account helping you keep your business payments to clients and vendors timely and orderly. Use of Bill Payment makes it easier to smooth your cash flow. Bank of Coral Gables does not charge a monthly fee for the Bill Payment feature but payments made will be charged the stated per item charge as usual with the pricing of the Business Checking Analysis or Small Business checking accounts.
Click here for current rates.
Additional service fees may apply. Please ask your Personal Banker for our Schedule of Service Fees and Charges.
What Bank of Coral Gables needs to set up your account:
- Two forms of identification from each signer, of which one should be a current driver's license or state ID. The second form of ID may be an employee issued photo ID, firearms ID, Military ID, United States issued passport
- Your organization's 9-digit tax ID number
- Your organization's articles of establishment or appropriate supporting documentation. You will need to bring in at least one of the following examples:
- Chapter: Charter of Business and Letter from national office indicating names of Chapter President and Secretary
- Society: Letter from the entity with which the Society is affiliated
- Fraternal: Letter from national office stating names of local President and Secretary
- Club: Organized Resolution
- Current Letter of Good Standing
- Corporation: Articles of Incorporation
- Proof of non-profit status (i.e. 501c(3) or 501c(4) documents)
Overdraft Sweep Protection
Overdraft sweep protection is available to our customers, with related deposit transaction accounts, in the event your checking account is overdrawn. Funds are automatically transferred in $100.00 increments from another checking or savings account to cover the overdraft amount. You pay a single sweep transaction fee for the convenience of this service, instead of paying a per item overdraft fee on your checking account.
Simply call or visit a Personal Banker for more information.
