Business Account Options
Business Checking
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No minimum balance required
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No monthly charge or service fee
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Welcome kit including checks, deposit slips and an endorsement stamp
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Free unlimited ATM transactions at SUM Network ATMs
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Easy-to-read statements produced on the last day of each month
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Night deposit service
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Multiple debit cards
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ACH origination Positive Pay detects checks that could be considered fraudulent
Business Cash Back Checking Account
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0.5% CASH BACK on signature debit card transactions*
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$5,000 average monthly checking account balance
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Make $1,000 monthly debit card purchases
Business Savings
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No minimum balance required
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$10 required to open account and earn APY
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Up to six (6) pre-authorized, automatic or telephone transfers allowed from your account during a statement month
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Free unlimited ATM transactions at SUM Network ATMs
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Statement Savings Account with 0.10% Annual Percentage Yield
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Bonus rates on CDs during special promotional periods
Business Money Markets
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$1,000 minimum daily balance to avoid the $6 monthly fee
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$10 to open an account
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Up to six (6) pre-authorized, automatic or telephone transfers allowed from your account during a statement month
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Free unlimited ATM transactions at SUM Network ATMs
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Bonus rate on CDs during special promotions
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Free bill payment**
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Free first order of checks
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Please check with a Business Banking Officer for rate information
Business Banking Features
ACH Services
Our ACH services give you control of how your funds are allocated. Our services range from providing access to Direct Deposit of Payroll to vendor payments and collection of receivables.
Leader Easy Deposit
Leader Easy Deposit is a free service offered to our commercial clients that allows you to deposit checks with a remote scanner directly from their place of business to the bank.
Real-Time Account Access
Unlike other financial institutions that update information in batches 1-2 times per day, Leader Business checking and savings account balances and transactions are generally current and will reflect transactions made throughout the day as they occur.
Download Account History into Your Financial Management Software
With Leader Business Banking, you can download information from your checking, savings, and loan accounts into a format that can be used with well-known financial management applications. Contact your account representative to learn more.
We’re thrilled to have found a banking partner that can offer a range of services to support our startup through our current round of fundraising and beyond. The personalized service experience and access to industry experts has been incredibly valuable as our business continues to scale.
Business Certificates of Deposit
| Type | Term | Initial Balance Required | Interest | Charges |
| Short Term CD | 1 - 11 Months | $1,000 | Simple interest paid at maturity | Penalty for early withdrawal |
| Long Term CD | 1 - 5 Years | $1,000 | Accrues daily; Compounded monthly | Penalty for early withdrawal |
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Interest payments on long-term CDs may be transferred to another account, left to accumulate in the CD or sent to you by check monthly. A penalty will be charged for early withdrawal of principal
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You have the option to borrow against your CD.
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Collateral loans are written on an on-demand basis with payments of interest only due monthly
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Please check with a Business Banking Officer for rate information
*To be eligible for Business Cash Back rewards, clients must fulfill the following requirements each month: maintain a $5,000 average checking account balance every month and have a minimum of $1,000 in debit card transactions posted and cleared per month (excluding ATM withdrawals, transactions with cash back, and transactions used to transfer money between accounts). Eligible Business Cash Back checking accounts will receive debit card cash rewards of 0.5% on “Qualifying Purchases” per month. “Qualifying Purchases” include signature purchase transactions only where the client selects “credit” as the transaction type. The debit card cash back rewards will be paid by the 15th day of the following month for the accounts that qualify in the current statement cycle. $10 minimum balance to open Business Cash Back checking account. Bonuses and gifts are subject to IRS tax reporting requirements IRS 1099-MISC. One account per client.
**Bill payments will count towards the six (6) monthly allotted transactions
