Business Deposit Account Fee Schedule - Sovereign Bank
Business Deposit Account Fee Schedule - Sovereign Bank
Business Deposit Account Fee Schedule - Sovereign Bank
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<strong>Business</strong> <strong>Deposit</strong> <strong>Account</strong> <strong>Fee</strong> <strong>Schedule</strong><br />
Summary of <strong>Account</strong> Services<br />
TYPE OF ACCOUNT MONTHLY<br />
FEE<br />
BALANCE<br />
TO AVOID<br />
MONTHLY FEE A<br />
TRANSACTION FEES ADDITIONAL ACCOUNT FEATURES<br />
Free <strong>Business</strong> Checking None None First 300 basic transactions free; then $0.60 each B Free <strong>Business</strong> Online <strong>Bank</strong>ing C with BillPay.<br />
<strong>Business</strong> Checking Plus $50 $40,000 First 750 basic transactions free; then $0.60 each B Free <strong>Business</strong> Online <strong>Bank</strong>ing C with BillPay (including access to ACH,<br />
Wire Transfer and Imaging capabilities with no monthly fees). Repurchase<br />
Agreement and Eurodollar Sweep Option with no monthly fee.<br />
<strong>Business</strong> Interest Checking D $15 None $0.20 per basic transaction B Designed for sole proprietorships and not-for-profit organizations. Free <strong>Business</strong><br />
Online <strong>Bank</strong>ing C with BillPay. Interest earned on balances on deposit.<br />
<strong>Business</strong> Money Market<br />
Savings<br />
Commercial Cash Management<br />
Checking<br />
$10 $1,000 None<br />
$30 None $1.00 per teller deposit, $1.00 per ATM deposit,<br />
$0.17 per item deposited, $0.20 per check paid,<br />
$0.20 per electronic debit/credit received<br />
Earnings credit may offset transaction fees and fees on added-value<br />
services and cash management services. Discounted Cash <strong>Deposit</strong><br />
Processing $0.15 per $100 and Cash <strong>Deposit</strong> Processing<br />
(non-Express Cash Pack) $0.25 per $100.<br />
Government <strong>Bank</strong>ing I None None First 200 basic transactions free; then $0.15 each B Discounted Cash <strong>Deposit</strong> Processing $0.15 per $100 and Cash <strong>Deposit</strong><br />
Processing (non-Express Cash Pack) $0.25 per $100.<br />
Escrow Master Checking None None None To be used for linking and managing an unlimited number of Escrow Sub<br />
Savings accounts. Free <strong>Business</strong> Online <strong>Bank</strong>ing C with BillPay.<br />
Escrow Savings E (all plan types) None None None<br />
IOLTA None None None Designed solely for pooled client funds deposited by an attorney or law firm.<br />
Maryland Affordable Housing<br />
Trust Checking<br />
1.877.768.1145<br />
sovereignbank.com<br />
Mid-Atlantic | Page 1 of 2<br />
None None None Designed solely for pooled client funds deposited by title insurers and title<br />
insurance agents representing Maryland transactions. Free <strong>Business</strong> Online<br />
<strong>Bank</strong>ing C with BillPay.<br />
M6837 Revised 12/09
<strong>Business</strong> <strong>Deposit</strong> <strong>Account</strong> <strong>Fee</strong> <strong>Schedule</strong><br />
<strong>Schedule</strong> of Services and <strong>Fee</strong>s<br />
ACCOUNT RELATED SERVICES<br />
<strong>Account</strong> History $4.00<br />
Copy of Canceled Check F $5.00<br />
Dormant <strong>Account</strong> (per month) G $12.00<br />
(applies to checking or money market<br />
savings accounts inactive for more than<br />
one year with balances less than $250)<br />
Duplicate Statement Copy $6.00<br />
Early <strong>Account</strong> Closing $25.00<br />
(if closed within 90 days of account opening)<br />
FDIC Assessment H $0.016667 per $100<br />
Insufficient Funds <strong>Fee</strong> $35.00<br />
Insufficient Funds $35.00<br />
(Item Returned)<br />
Interest Charge on Negative Prime +3%<br />
Collected Balance I<br />
Research, Balance Reconciliation $20.00<br />
and/or Letter Writing Services<br />
(per hour, one hour minimum)<br />
Return <strong>Deposit</strong>ed Item<br />
Domestic $10.00<br />
International $25.00<br />
Savings/Money Market Savings $5.00<br />
Excess Activity (per item)<br />
Stop Payment $30.00<br />
(business or official check) or ACH Transaction Block<br />
Sustained Overdraft J $5.00<br />
(per day, beginning on the 6th consecutive<br />
business day account is overdrawn)<br />
Unavailable Funds <strong>Fee</strong> $35.00<br />
Unavailable Funds $35.00<br />
(Item Returned)<br />
CASH/CURRENCY SERVICES K<br />
Cash <strong>Deposit</strong> Processing L, N $0.22 per $100<br />
Cash <strong>Deposit</strong> Processing— $0.27 per $100<br />
M, N<br />
non-Express Cash Pack<br />
1.877.768.1145<br />
sovereignbank.com<br />
CASH/CURRENCY SERVICES, CONTINUED<br />
Cash Order (per strap) O $0.50<br />
Cash Order Special Varies<br />
Coin Proved (per bag) $5.00<br />
Coin Rolls Furnished (per roll) O $0.10<br />
CHECKCARD/ATM SERVICES<br />
Foreign Currency Exchange 3% of transaction<br />
in U.S. dollars<br />
Improperly Endorsed <strong>Deposit</strong> (per item) $2.00<br />
Replacement Card—Expedited $30.00<br />
Withdrawal at ATM not owned by<br />
<strong>Sovereign</strong> or one of its divisions P<br />
Domestic $2.50<br />
International $6.00<br />
SPECIAL SERVICES<br />
American Express ® Gift Card (per item) $ 5.00<br />
American Express Gift Cheque (per item) $2.50<br />
American Express Travelers Cheques<br />
Regular (per $100) $2.00<br />
Cheques for Two ® (per $100) $2.00<br />
Bond Coupon (per envelope) $7.00<br />
Certified Check $15.00<br />
Collections (per item)<br />
Domestic $10.00<br />
International $30.00<br />
Copy of Official Check or Money Order $5.00<br />
(per item)<br />
Escheat $50.00<br />
Garnishment/Levy/Legal Process $100.00<br />
International Draft $25.00<br />
Money Order $7.00<br />
Official <strong>Bank</strong> Check $12.00<br />
SPECIAL SERVICES, CONTINUED<br />
Safe <strong>Deposit</strong> Box<br />
Annual Rental Varies<br />
10% discount with autopay per box Q<br />
Drilling $150.00<br />
Late Charge $15.00<br />
Lost Key $15.00<br />
<strong>Sovereign</strong> Merchant Services—Electronic Item O $0.17<br />
TaxCashe<br />
Web Initiated Payments<br />
Monthly Maintenance None<br />
Tax Payment (per web initiated file) $2.00<br />
Telephone Initiated Payments<br />
Monthly Maintenance $30.00<br />
Tax Payment (per telephone initiated file) $3.00<br />
Recap Report (per report) $12.00<br />
Wire Transfer (manual) R<br />
Domestic or International Incoming $13.00<br />
Domestic Outgoing $25.00<br />
International Outgoing<br />
U.S. Currency $40.00<br />
Foreign Currency $31.00<br />
BUSINESS ONLINE BANKING<br />
(with Free <strong>Business</strong> Checking, <strong>Business</strong> Checking Plus, <strong>Business</strong> Interest<br />
Checking, Maryland Affordable Housing Trust Checking and Escrow Master<br />
Checking)<br />
Image Access (per item)<br />
First 10 items None<br />
Each Image Thereafter $0.60<br />
Payment Initiation Services - Internet<br />
Tax Payment Application $2.00<br />
(per tax payment application/month)<br />
ACH S<br />
ACH Item Originated $0.15<br />
Deletion/Reversal (origination) $7.50<br />
Returned Item $5.00<br />
Stop Payment (online) $18.00<br />
Wire Transfers (online) S<br />
Domestic Outgoing<br />
U.S. Currency $15.00<br />
International Outgoing<br />
U.S. Currency $21.00<br />
Foreign Currency $16.00<br />
Book Transfer $3.00<br />
Minimum opening deposit on all accounts is $50.<br />
A The Average Daily Collected Balance is used to waive monthly fees for<br />
<strong>Business</strong> Checking Plus. The Minimum Daily Ledger Balance is used to waive<br />
monthly fees for <strong>Business</strong> Money Market Savings.<br />
B Basic transactions include checks paid, teller deposits, ATM deposits, deposited<br />
items, and ACH items (electronic debits and credits not originated by customer).<br />
<strong>Sovereign</strong> Merchant Services (credit and debit card payment processing) and<br />
<strong>Sovereign</strong> Payroll Services ACH debit items are not included.<br />
C Free <strong>Business</strong> Online <strong>Bank</strong>ing includes Real Time Transfers, Real Time Reporting,<br />
Prior Day Reporting, and Quicken and/or QuickBooks downloads.<br />
D Available to sole proprietors and non-profit organizations only. This restriction is<br />
due to federal regulation.<br />
E Includes Escrow Standalone Savings and Escrow Sub Savings.<br />
F Twelve free copies per year for Image Statement and Check<br />
Truncation customers.<br />
G Applies to <strong>Business</strong> Interest Checking, <strong>Business</strong> Checking Plus, Free <strong>Business</strong><br />
Checking, <strong>Business</strong> Money Market Savings, and IOLTA.<br />
H Applies only to Commercial Cash Management Checking and Government<br />
<strong>Bank</strong>ing I; fee is per $100 of average daily ledger balance for the<br />
statement period.<br />
I Applies to Commercial Cash Management Checking only. Rate determined by the<br />
average of the highest Prime Rate as published in the Money Rates section of the<br />
Wall Street Journal for the statement period plus 3%.<br />
J Does not apply to Commercial Cash Management Checking.<br />
K Customers requiring Armored Carrier services are encouraged to contact Cash<br />
Management Sales.<br />
L Applies to cash deposits greater than $500 to <strong>Business</strong> Interest Checking. Cash<br />
deposits to Commercial Cash Management Checking accounts are assessed a<br />
charge of $0.15 per $100. Cash deposits to Government <strong>Bank</strong>ing I accounts are<br />
assessed a charge of $0.15 per $100 for deposits greater than $1,000. Does<br />
not apply to IOLTA, Escrow Master Checking, Maryland Affordable Housing Trust<br />
Checking or Escrow Savings.<br />
M Applies only as follows: Cash deposits to <strong>Business</strong> Interest Checking and<br />
<strong>Business</strong> Money Market Savings accounts are assessed a charge of $0.22 per<br />
$100 for deposits of $500 or less, and $0.27 per $100 for deposits greater<br />
than $500. Cash deposits to Commercial Cash Management Checking and<br />
Government <strong>Bank</strong>ing l accounts are assessed a charge of $0.15 per $100 for<br />
deposits of $500 or less, and $0.25 per $100 for deposits greater than $500.<br />
N Up to $7,500 in cash may be deposited to Free <strong>Business</strong> Checking accounts<br />
each month at no charge. Up to $40,000 in cash may be deposited to <strong>Business</strong><br />
Checking Plus accounts each month at no charge. Cash deposits exceeding the<br />
monthly threshold for either Free <strong>Business</strong> Checking or <strong>Business</strong> Checking Plus<br />
will be assessed a charge of $0.22 per $100 for Express Cash Pack ® deposits<br />
and $0.27 per $100 for non-Express Cash Pack deposits.<br />
O Does not apply to Free <strong>Business</strong> Checking or <strong>Business</strong> Checking Plus.<br />
P ATM owner may charge a fee.<br />
Mid-Atlantic | Page 2 of 2<br />
Q Discount cannot be combined with any other safe deposit box discounts.<br />
R Does not apply to IOLTA checking or Maryland Affordable Housing<br />
Trust Checking.<br />
S Online ACH module monthly fee is $40 and online wire module monthly fee<br />
is $40. <strong>Business</strong> Checking Plus customers may use these modules at no<br />
monthly fee.<br />
Member FDIC<br />
<strong>Sovereign</strong> <strong>Bank</strong> and its logo are registered trademarks<br />
of <strong>Sovereign</strong> <strong>Bank</strong> or its affiliates or subsidiaries in the<br />
United States and other countries.<br />
M6837 Revised 12/09
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