Commercial Analysis Checking

Commercial Analysis Checking

This robust checking account can handle even the largest transaction volumes, with unlimited transactions at per-item fees.

Key Features

  • Unlimited Items at Low Fees
  • Accept Online or In App Payments
  • Digital Banking
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  • Available to businesses and non-profit organizations
  • $13.95 monthly service charge1
  • No minimum balance requirements
  • Unlimited items per month at low, per-item fees
  • Free online banking and mobile banking app
    • Get paid right into your account:
      • Send online invoices through online and mobile banking with Autobooks
      • Receive digital payments through online and mobile banking with Autobooks
      • Share a secure payment link  
    • Transactions available for download as QBO, QFX, CSV, TXT or OFV files
  • Free eStatements
    • Paper statements available for $3 per month
    • Electronic check images available for free
  • Free debit card (subject to approval)
    • Get valuable rebates on your business spending with Mastercard Easy Savings.
    • Simply use your Security Federal Business Debit Card to enjoy automatic rebates at more than 50,000 merchants.1 There’s no enrollment fee, no coupons and no codes.
    • Your savings will be applied to your account each month – automatically.
    • Mastercard Easy Savings is ready to save you money on your everyday business purchases. Start making the most of the program today.
    • Additional Information and participating merchants can be found at easysavings.com
  • Paper checks available for a low monthly fee
  • Additional business services available
  • Overdraft protection available
  • $100 minimum deposit to open

How it Works

Each month, your  account is analyzed by calculating the average monthly ledger balance and subtracting the uncollected funds (float). The remaining balance is your average collected balance. The legal reserve requirement is then deducted to provide the amount that we can invest. We then assign an earnings credit (which varies monthly) to arrive at the earnings on your account for the month. Monthly expenses associated with the account are then deducted from earnings. If earnings on your account exceed the expenses, there is no monthly service charge. If expenses exceed the account earnings, there will be a charge to your account for the difference.

 

1Additional fees apply. See our Business Fee Schedule.

2Restrictions apply. Rebates currently available for qualifying eligible purchases made with your Security Federal Bank Business Debit Card. Participating merchants and rebate offers subject to change. You'll receive Mastercard Easy Savings Program rebates on top of merchant discounts and your card rewards.
 
Mastercard and Mastercard Easy Savings are registered trademarks, and the circles design is a trademark, of Mastercard International Incorporated. ©2019 Mastercard. All rights reserved.

Your business type determines the documentation that will be needed to open a deposit account. The following items/actions are required for all business types:

  • Business Name/Address/Phone Number
  • EIN/TIN of Business
  • Give Security Federal Bank permission to do a soft-credit pull1
  • Identifying Information on Beneficial Owners/Members and/or authorized signers
    • Minimum:  SSN, DOB, Address, Phone number, Acceptable Photo ID

 Sole Proprietorship

  • Proof of Business/Business License (if applicable)
  • Certificate of Assumed Name – if required by state law
  • Social Security Number or Federal Employee Identification Number (EIN)

 Partnership

  • Partnership Agreement 
  • A certificate of Limited Partnership for limited partnerships
  • Business status listed as active, current or in very good standing on the Secretary of State's website for the state in which the business was incorporated.

Limited Liability Company (LLC)

  • Articles of Incorporation stamped with proof of filing with the state (Operating Agreement is required if the Articles do not show the Members/Owners)
  • Business status listed as active, current or in very good standing on the Secretary of State's website for the state in which the business was incorporated.

Unincorporated Association/Organization

  • Business name filing document, such as a Fictitious Name Certificate or Certificate of Trade Name
  • Organizing document, such as Articles of Association (if available) or bylaws
  • Corporate Resolution identifying authorized signers if officer names are not listed on Articles of Association or bylaws

 Corporation

  • Signed Corporate Resolution by all officers
  • Business status listed as active, current or in very good standing on the Secretary of State's website for the state in which the business was incorporated. Check Status
  • Articles of Incorporation stamped with proof of filing with the state (Operating Agreement is required if the Articles do not show the Members/Owners)

Non-profit Organization

  • Articles of Incorporation stamped with proof of filing with the state (Operating Agreement is required if the Articles do not show the Members/Owners)
  • Verification of Non-profit status/Tax-exempt status

Voluntary Associations- Club Accounts

  • Organizing document, such as Articles of Association (if available) or bylaws
  • Corporate resolution authorizing the account and assigning transaction authority (if available)

If you have any questions, please call 1-866-851-3000 or stop by any Security Federal Bank branch for more information.

1Does not affect your credit score.

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See Business Fee Schedule for all fee amounts, including charges which may apply for non-sufficient funds or overdraft.