Business Deposit Accounts

More choices give you more control over your bottom line. Whether you have one account or several, your checking account is often the daily barometer to help keep track of and manage your cash flow. And when you have excess balances, your account should also offer a way to help those balances grow.

That's why we offer several choices of accounts from a very basic account to more aggressive accounts that offer returns on your excess cash. Our choices put you in control, so you can match your banking style to your business style. We offer ways to let your money earn market interest rates of interest while remaining available to you for future growth opportunities.

Business Checking Accounts

Whether you're just starting your business or looking for new ways to manage cash, we have the right commercial account for you. Let one of our commercial banking consultants assist you in determining which type of account is best for your business or select one of the following:

Commercial Checking

Our Commercial Checking Account serves businesses and their changing needs, allowing you to keep up with the complex nature of your business. It allows you the flexibility of reducing or eliminating monthly fees for many banking services just by maintaining balances in this account.

  • Requires a minimum opening balance of $200.00
  • Monthly maintenance fee is $25.00 per month
  • Checks paid at $0.20 per check; $0.16 per ACH debit; $0.45 per credit including ACH, $0.12 per check deposited
  • Special statements are FREE of charge

Other Fees include:

  • Chargeback (for returned-deposit items), $5.00 per item
  • Rolls of coin, $0.15 per roll
  • Straps of currency, $0.30 per strap
  • NSF charge, $25.00 per paid or returned item
  • Stop payment, $25.00 per item
  • Cashier's checks, $3.00 each
  • Money orders, $2.00 each
  • Incoming collection, $15.00 per item
  • Outgoing collection, $15.00 per item
  • Printed checks available at various prices

Each month, your commercial checking account is analyzed by calculating the average monthly ledger balance and subtracting the uncollected funds (float). The remaining balance is your average collected balance. The legal reserve requirement is then deducted to provide the amount that we can invest. We then assign an earnings credit (which varies monthly) to arrive at the earnings on your account for the month. Monthly expenses associated with the account are then deducted from earnings. If earnings on your account exceed the expenses, there is no monthly service charge. If expenses exceed the account earnings, there will be a charge to your account for the difference.

 

Small Business Checking

Small Business Checking is a non-interest bearing checking account for businesses that have a moderate amount of checking activity. This account is a great first step for entrepreneurs who need a business account; or it can be ideal for special purpose funds, short-term ventures and for many "not for profit" organizations.

  • Requires minimum opening balance of $200.00
  • No monthly service charge if you maintain minimum daily balance requirement of $2,500.00
  • $15.00 monthly service charge for accounts with less than $2,500.00
  • No monthly transaction charge for first 250 transactions (checks paid, checks deposited)
  • 251 or more transactions are $0.25 each

 

Commercial NOW Checking

Our Commercial NOW Account is an interest-bearing account designed for sole proprietors, "not for profit" organizations, and government agencies. This account has multiple deposit interest rate tiers and provides a competitive interest rate at each level based upon the balances in your account.

  • Requires minimum opening balance of $500.00
  • No monthly service charge if you maintain minimum daily balance requirement of $1,000.00
  • $15.00 monthly service charge for accounts with less than $1,000.00
  • Variable, tiered interest rates are paid based upon balances in the account

Click here to view our current interest rates.

Interest Rate Information, Frequency of Interest Rate Change and Determination of Interest Rate - Your interest rate and annual percentage yield may change at any time at our sole discretion.

Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.

Minimum balance to open the account - $500.00 minimum balance to open this account.

Minimum balance to avoid imposition of fees - A service charge fee of $15.00 will be imposed every statement cycle if the balance in the account falls below $1,000.00 any day of the cycle.

Daily balance computation method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic interest rate to the principal in the account each day.

Accrual of interest on non-cash deposits - Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks).

IOLTA Checking

IOLTA Accounts (Interest On Lawyer's Trust Accounts) are specifically designed to hold funds in trust for clients of pending court cases. Interest earned from the money held in lawyer trust accounts is paid to the Texas Equal Access to Justice Foundation to then be used to fund programs providing legal counsel on a pro bono basis. United Texas Bank is an approved depository for IOLTA funds.

United Texas Bank's Commercial NOW Checking is used for all IOLTA Accounts. Contact one of our new account representatives at (972) 239-7000 to open an IOLTA Account.

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