Business Banking Business Checking Accounts Business Savings Accounts Business Lending Programs Business eBanking Solutions Business Cash Management
Beneficial Ownership? The beneficial ownership rule makes it mandatory for all financial institutions to comply by identifying the ultimate beneficial owner(s) and a controlling person of a legal entity customer opening or maintaining an account. You need to complete this form whenever you open a new business account with us.
Services | Features | Benefits | Fees |
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Business eBanking (BEB) | Provides online access to accounts, loans and services for business customers. Businesses can manage account access by job duty creating a layer of control and oversight |
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None |
Automated Clearing House (ACH) Origination Services | ACH services offer a cost-effective, and secure mechanism for processing credits and debits electronically. Ideal for recurring payments such as payroll, tax payments and membership dues. Take advantage of same-day processing functionality, provided files are received by the banks cut off time. |
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Wires | Send collected funds safely from your account directly to another person or company's financial institution account. Accessing this feature can be done in-person at one of our five branch locations or via our Business Online Banking product. |
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Remote Deposit Capture | Remote Deposit Capture is a convenient way to manage your deposits from where you are conducting business – home or office. Deposits are scanned and deposited to your account. |
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Positive Pay Check/ACH | Positive Pay by Check is a service accessed through Business Online Banking which is one of the most effective anti-fraud tools available today for ACH transactions and/or check disbursements. |
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Positive Pay Checks
Positive Pay ACH
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Merchant Card Services | Learn more about our third party vendor, TalusPay, who offers the performance, reliability and long-lasting functionally you need to expand your customer’s payment options while expanding your opportunities for sales. Contact us to sign up. | Fees are charged by TalusPay | |
Business Debit Card | Summit State Bank offers all new and existing businesses a debit card. All debit cards issued are chip compliant. |
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None |
Courier Services | Summit State Bank contracts with Rapid Express Courier Systems. This service offers a courier to come to your place of business and pick-up deposits and other banking related items. |
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Armored Car Services | Summit State Bank partners with Empyreal to safely provide a secure way to make cash deposits using an armored transport company. Customers have the option to schedule a single day pick-up or multiple day pick-ups. This partnership also provides customers that need to have cash or currency delivered to have access to an online portal to submit their own orders. | Fees are charged by Empyreal | |
Insured Cash Sweeps (ICS™) | The Insured Cash Sweep (ICS™) allows depositors to place large cash deposits quickly and confidently through Summit into a Network of institutions for additional FDIC coverage. |
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Certificate of Deposit Account Registry Service (CDARS™) | The Certificate of Deposit Account Registry Service, or CDARS™, allows depositors to place large cash deposits quickly and confidently through the bank into CDs issued by multiple Network banks and be eligible for full FDIC insurance. Customers who wish to invest amounts that will put their deposits with Summit over the FDIC insurance limit may participate in the CDARS™ service. Customer funds are placed with other FDIC-insured banks and savings associations. |
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None |
Zero Balance Accounts/Sweep | Zero Balance Accounts allows excess or deficit balances to be automatically transferred to and from a designated account as needed. Sweeps offers an effective way to ensure that excess funds are invested daily in a designated account or to pay down or advance for a line of credit. | Zero Balance Account
Sweeps
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Designed for 501(c) tax-exempt organizations to enhance fundraising efforts and maximize organization’s money.
Non-interest bearing operating accounts: Earn 0.95% on non-interest bearing operating accounts. Analyzed business accounts are included. For example, a $100,000 average Summit account balance would receive a $950 annual contribution.
Interest-bearing accounts: Earn 0.25% on your interest-bearing Summit savings, money market and demand deposit accounts. For example, a $100,000 average Summit account balance would receive a $250 annual contribution.
Insured Cash Sweep (ICS): Earn 0.65% on non-interest bearing operating account or 0.15% for an interest-bearing account.
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Summit State Bank will never phone, text or email you to request private information such as account number, social security number, card number, or password. Do not respond to requests for such information.
When logging in, you may be prompted to use a one-time code, in addition to your username and password. This code will be communicated to you through either an automated voice call or a text message.
Sign up for Online Business Banking »
Summit State Bank will never phone, text or email you to request private information such as account number, social security number, card number, or password. Do not respond to requests for such information.
When logging in, you may be prompted to use a one-time code, in addition to your username and password. This code will be communicated to you through either an automated voice call or a text message.