Checking & Savings
1st Capital Bank offers a selection of checking and savings products to meet the needs of Businesses.
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Business Checking | Business Interest Checking | Business Money Market | Business Savings | Business Premier Savings | Attorney Trust Accounts | Holiday Account
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1st Capital Bank is participating in the FDIC’s
Transaction Account Guarantee Program. Under that program, through
December 31, 2010, all non-interest-bearing transaction accounts are
fully guaranteed by the FDIC for the entire amount in the account.
Coverage under the Transaction Account Guarantee Program is in addition
to and separate from the coverage available under the FDIC’s general
deposit insurance rules.
The basic FDIC Insurance coverage has been permanently increased to $250,000.00 per depositor.
Unlawful Internet Gambling Enforcement Act
The Federal Unlawful Internet Gambling Enforcement Act proposed in 2006 became effective June 1, 2010. This regulation prohibits business customers from receiving deposits of any kind relating to illegal internet gambling. As a federal regulated financial institution, 1st Capital Bank is required to enforce that prohibition.
This serves as notification to our Business Customers that you must notify us if your account is or will be used for Internet Gambling of any kind, even if you believe that activity is legal. Failure to do so may result in termination of your access to various payments methods or the closing of your account.
Please contact your Relationship Officer or a Bank Representative at 831-264-4000 for any questions or concerns regarding this notification.
Business Checking
The Business Checking Account is a non-interest bearing account with a minimum opening requirement of $1,000. This checking account is available to sole-proprietorship, partnerships and corporations. It’s intended to provide you with flexibility by allowing unlimited check writing and at the same time, the lowest possible monthly service charge of $10. A fee may apply for check images of your cancelled checks. However, you can avoid the monthly service charge by maintaining an average available balance of $3,000 any day during the statement period. Of course, more information will be provided at the time of opening the account.
Business Interest Checking
The Business Interest Checking is available to sole-proprietorship, public entities and non-profit organizations to write an unlimited number of checks per month while earning interest on the daily collected balance. No interest is paid if the collected balance is below $500 on any day during the statement period. The account interest rates may vary according to the account’s daily collected balance. A service charge will be assessed if the collected available balance falls below $3,000 during the statement period. More information will be provided at the time the account is opened.
Business Money Market
Our Money Market Account allows businesses to earn interest daily on the collected balance. Six transfers are allowed during the monthly cycle. The account would be subject to a $10 service charge if the average available balance were below $2,500 any day during the statement period. More information will be provided at the time the account is opened.
Business Savings
A Regular Savings Account pays interest on the collected balance and will allow businesses to make up to six transactions per statement cycle while earning interest on the daily collected balance. It does require a minimum of $100 for opening an account. The monthly service charge of $2 is waived if the daily collected balance is $500 or more. More account information will be disclosed at the time of opening.
Business Premier Savings
The Premier Savings Account offers tiered interest rates based on the account’s daily collected balance. Interest is calculated on a 365-day simple interest basis and compounded monthly with the interest credited at that time. More account information will be disclosed at the time of opening.
Attorney Trust Accounts
This Checking Account is available to all California Attorneys and law firms that receive and disburse client funds. In accordance with Sections 6210-6228 of the California Business and Professional code, this account is for trust funds that are nominal in amount or that are on deposit for a short period of time. Interest earned on this account is remitted monthly to the California State Bar Association on your behalf.
Holiday Savings
Our Holiday Savings account is designed to help you save for the gift giving season or for any special need. We will set up a monthly transfer from another account with 1st Capital Bank for any amount you choose then, watch your money grow all year long! There is no minimum deposit required to open the account and no monthly service charge. Interest is paid to the Holiday Savings on October 31st the balance and interest earned is then transferred into a designated checking account with 1st Capital Bank on Nov 1st. The account may be closed if any withdrawal is made before October 31st.
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