© 2018 All Rights Reserved - Peoples State Bank of Munising
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Business Checking Accounts

Business Checking No minimum amount required to open account. No minimum balance required.* Access to online banking. Fees may apply, please inquire for more details. Fees and Charges - The following fees and charges apply to this account: Maintenance Fee: $4.00 per cycle Debits: $.10 per check written Transit Items: $.10 per item not drawn on Peoples State Bank Earning Credit: $.10 per $100.00 of collected balance Commercial NOW Checking No minimum amount required to open account. $1,000.00 minimum balance required or your account will be subject to a $5.00 Maintenance Fee for that cycle. Interest bearing. Access to online banking. Fees may apply, please inquire for more details. Public Fund Checking No minimum amount required to open account. No minimum balance required.* Access to online banking. Fees may apply, please inquire for more details. Fees and Charges - The following fees and charges apply to this account: Maintenance Fee: $4.00 per cycle Debits: $.10 per check written Transit Items: $.10 per item not drawn on Peoples State Bank Earning Credit: $.10 per $100.00 of collected balance Public Fund NOW Checking No minimum amount required to open account.* $1,000.00 minimum balance required or your account will be subject to a $5.00 Maintenance Fee for that cycle. Interest bearing. Access to online banking. Fees may apply, please inquire for more details. *An inactivity fee of $1 per month may be imposed on accounts with no deposit or withdrawal activity for six months or longer AND that have a balance of $10 or less. ---------------------------------- IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING OR CHANGING AN ACCOUNT WITH PEOPLES STATE BANK The federal government has enacted new requirements under the Bank Secrecy Act for owners of businesses meeting the definition of a legal entity.  Effective May 11, 2018, the federal government will ask covered financial institutions, which include but are not limited to insured banks and federally-insured credit unions, to identify the two types of beneficial owners: those who satisfy the “ownership section” and those who satisfy the “control section.”  Ownership section – The term “beneficial owner” includes each individual who, directly or indirectly, owns 25 percent or more of the equity interests of the legal entity customer. Control section: The term “beneficial owner” means a single individual with significant responsibility to control, manage, or direct the legal entity customer (e.g., a Chief Executive Officer, Vice President, Treasurer, etc.). Therefore, each time an account is opened, whether a new or existing customer, the bank is required to obtain, verify, and record the identities of the beneficial owners of legal entity customers. If you have any questions regarding the new requirements, please contact us at 1-877- 861-2520.
Your Hometown Bank since 1910
© 2018 Peoples State Bank of Munising - All Rights Reserved
Peoples State Bank of Munising

Business Checking Accounts

Business Checking No minimum amount required to open account. No minimum balance required.* Access to online banking. Fees may apply, please inquire for more details. Fees and Charges - The following fees and charges apply to this account: Maintenance Fee: $4.00 per cycle Debits: $.10 per check written Transit Items: $.10 per item not drawn on Peoples State Bank Earning Credit: $.10 per $100.00 of collected balance Commercial NOW Checking No minimum amount required to open account. $1,000.00 minimum balance required or your account will be subject to a $5.00 Maintenance Fee for that cycle. Interest bearing. Access to online banking. Fees may apply, please inquire for more details. Public Fund Checking No minimum amount required to open account. No minimum balance required.* Access to online banking. Fees may apply, please inquire for more details. Fees and Charges - The following fees and charges apply to this account: Maintenance Fee: $4.00 per cycle Debits: $.10 per check written Transit Items: $.10 per item not drawn on Peoples State Bank Earning Credit: $.10 per $100.00 of collected balance Public Fund NOW Checking No minimum amount required to open account.* $1,000.00 minimum balance required or your account will be subject to a $5.00 Maintenance Fee for that cycle. Interest bearing. Access to online banking. Fees may apply, please inquire for more details. *An inactivity fee of $1 per month may be imposed on accounts with no deposit or withdrawal activity for six months or longer AND that have a balance of $10 or less. ---------------------------------- IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING OR CHANGING AN ACCOUNT WITH PEOPLES STATE BANK The federal government has enacted new requirements under the Bank Secrecy Act for owners of businesses meeting the definition of a legal entity.  Effective May 11, 2018, the federal government will ask covered financial institutions, which include but are not limited to insured banks and federally-insured credit unions, to identify the two types of beneficial owners: those who satisfy the “ownership section” and those who satisfy the “control section.”  Ownership section – The term “beneficial owner” includes each individual who, directly or indirectly, owns 25 percent or more of the equity interests of the legal entity customer. Control section: The term “beneficial owner” means a single individual with significant responsibility to control, manage, or direct the legal entity customer (e.g., a Chief Executive Officer, Vice President, Treasurer, etc.). Therefore, each time an account is opened, whether a new or existing customer, the bank is required to obtain, verify, and record the identities of the beneficial owners of legal entity customers. If you have any questions regarding the new requirements, please contact us at 1-877-861-2520.
Your Hometown Bank since 1910