Business Accounts
Leader Business Banking Features
Leader Bank’s Business banking is a sophisticated online and flexible funds management system for our corporate clients. Within your office, you will be able to do everything from reviewing your balances to transferring funds, from requesting stop payments to reviewing your corporate cash handling.
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.
Administrative Options: Leader Business Banking offers an array of administrative options to give you the control and convenience you’re looking for.
All Business Accounts
Business Checking Features
- No monthly charge or service fee
- No minimum balance required
- Welcome kit including checks, deposit slips and an endorsement stamp
- Easy-to-read statements produced on the last day of each month
- Free online and mobile banking
- Free, unlimited ATM transactions at SUM Network ATMs
- Night deposit service
- Multiple debit cards
- ACH origination Positive Pay detects checks that could be considered fraudulent
Business Cash Back Checking Account
- 0.5% CASH BACK on signature debit card transactions*
- $5,000 average monthly checking account balance
- Make $1,000 monthly debit card purchases
Contact a Business Banking Officer
*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.
Business Savings Features
- Statement Savings Account with 0.10% Annual Percentage Yield
- $10 required to open account and earn APY
- No minimum balance required
- Up to six (6) pre-authorized, automatic or telephone transfers allowed from your savings account during a statement month
- Free online and mobile banking
- Free unlimited ATM transactions at SUM Network ATMs
- Bonus rates on CDs during special promotional periods
Business Certificates of Deposit Features
Short-Term Business CDs
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Long-Term Business CDs
Long-term CDs offer high-interest-earning power, with the added benefits of liquidity and safety. Depending on your needs, you can choose a term from one to five years. Interest is posted at month-end and at maturity.
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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
- You have the option to borrow against your CD.
- Collateral loans are written on an on-demand basis with payments of interest only due monthly
- Please check with a Business Banking Officer for rate information
Business Money Markets Features
- $10 to open an account
- $1,000 minimum daily balance to avoid the $6 monthly fee
- Up to six (6) pre-authorized, automatic or telephone transfers from your account during a statement month of which may include third party checks
- Bonus rate on CDs during special promotions
- Free, unlimited transactions at any participating SUM Network ATMs
- Free online and mobile banking
- Free bill payment*
- Free first order of checks
- Please check with a Business Banking Officer for rate information
*Bill payments will count towards the six (6) monthly allotted transactions
I was impressed with the products and services Leader Bank offered to help us improve the Town’s cash management and operations.