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Business Accounts
 

  • Business Accounts

    Having access to your funds and earning the best return are essential to the success of your business. We offer an entire suite of deposit accounts in checking, savings, and money market and we have a variety of deposit accounts to maximize your cash flow and provide the access your business needs.

    Deposit Accounts:

    Whatever your monthly volume, we have the best account suited to your needs.  Analyzed and Non-Analyzed deposit accounts are available.  You are able to add economical and convenient ancillary services as needed.

  • Business Checking

    Penn Liberty Bank can accommodate you no matter what the size or type of your business.*

    First, let’s introduce you to some of our most popular checking accounts. See below for additional checking accounts designed for specialized needs.

    Features

    Small Business Checking

     

    Better
    Business  Checking 
     

     Business Checking
    1000

    Business
     Checking
    2000
     

    Commercial
     Analyzed Checking

    Minimum balance requirement

    None

    $2,500 in this checking account

    $25,000 in this checking account OR $50,000 in qualifying accounts.*

    $25,000 in this checking account OR $50,000 in qualifying accounts AND are a qualified Merchant Services or Wealth Advisory Client** 

    None

    Fee if below minimum

    n/a

    $25

    $35

    $35

    Compensating balances partially offset fees

    Transaction charges

    150 free per month, then .25 each

    Fees apply for checks paid, deposits, deposited items transactions

    500 free per month, then .50 each

    Fees apply for checks paid, deposits, deposited items and ACH transactions

    1,000 free per month, then .50 each

    Fees apply for checks paid, deposits, deposited items and ACH transactions

    2,000 free per month, then .50 each

    Fees apply for checks paid, deposits, deposited items and ACH transactions

    Fees apply for checks paid, deposits, deposited items and ACH transactions

    Business debit card

    Free

    Free

    Free

    Free
    (up to 4 employees)

    Free
    (up to 4 employees)

    Internet bill pay services

    Internet account access and bill pay available

    Free Internet Banking plus 50 bills per month free

     

    Available

    Internet cash management and bill pay available

    Internet cash management and bill pay available

    **Qualifying relationship accounts include all deposit and loan/line of credit outstanding balances. Ask your Penn Liberty banker if your business qualifies as a merchant services or wealth advisory client.*Note: There is a $4 per month, per account, charge to receive check Images with paper account statements
  • Business Savings and Money Market

    Penn Liberty Bank takes good care of its business customers by putting your money work for you by earning interest. We have a variety business savings and money market accounts from which to choose, depending on your situation.*

    Features

    Tiered Money Market

    Small Business Statement Savings

    Business Star Spangled Savings

    Regular Business Money Market

    Small Business Money Market

    This account is the best choice if your business …

    … has larger cash balances and wants to earn higher interest as balance grows.

    … has steady non-working funds and wants to earn interest

    … doesn’t have large amounts of idle cash but wants to earn a more competitive interest rate

    … has lower average extra funds but wants to earn higher interest than a savings account

    … has fluctuating idle cash balances. As your balance grows, so does your interest rate.

    Earns interest

    Yes. The higher the balance, the higher the interest.

    Yes

    Yes

    Yes

    Yes

    Average Monthly Minimum Balance Requirement

    $20,000

    $300

    $1,000

    $2,500

    $2,500

    Monthly Below Minimum Balance Fee

    $20

    $6

    $6

    $10

    $20

    Maximum Account Balance (per customer)

    No

    No

    $300,000

    No

    No

    Excessive Transactions

    $15 each

    $15 each

    $15 each

    $15 each

    $15 each

    *Note: There is a $4 per month, per account, charge to receive check Images with paper account statements
  • Special Needs Services

    Custodial/Escrow Management Programs

    Our custodial management program manages escrow funds for property managers, attorneys, or any business that needs to retain separate client funds. The program provides tax reporting at the sub account level so you have detailed reporting of each account as well as online access to view these accounts.

    Sweep and Zero Balance Account Programs

    A deposit program to maximize your ability to track and manage cash flow as well as enhance your interest earning power, our sweep and ZBA services allow account concentration and automatic movement to higher interest bearing accounts.

  • Accounts for Specialized Needs*

    Features

    IOLTA
    (Interest on Lawyers Trust Accounts)

    Community Checking
    more options

    Estate Account

    Estate Account
    with interest

    This account is the best choice if:

    You are an attorney offering assistance to financial disadvantaged individuals

    You are a non-profit or government entity and want to earn interest on all your checking funds

    You want to ease the burden of separate client accounts, bookkeeping and reporting.

    You want the convenience of separate accounting plus earn interest

    Earns interest

    Yes

    Yes

    No

    Yes

    Minimum balance requirement

    None

    None

    None

    $1,000

    Fee if below minimum

    None

    None

    None

    $15

    Minimum balance to earn interest

    None

    None

    n/a

    None

    Transaction charges

    None

    150 free per month, then .25 each

    Fees apply for checks paid, deposits, deposited items transactions

     

    None

    None

    Business debit card

    n/a

    Free

    n/a

    n/a

    Other benefits

    Interest paid directly to IOLTA Board.

    Interest on all balances

    n/a

    n/a

    *Note: There is a $4 per month, per account, charge to receive check Images with paper account statements