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It makes good business sense to segregate your extra business funds until you need them. Whether you own a small business or help manage a nonprofit organization, government or public agency, you'll earn interest and gain peace of mind by keeping excess operating cash in our FDIC-insured Basic Business Savings account.
To open a U.S. Bank business account today, bring the documents listed below to any U.S. Bank branch office. Find a Branch Near You
We also need documentation specific to the legal structure of your business:
Federal Regulations Governing Savings and Money Market Transaction Limitations
Federal Regulation D limits certain types of withdrawals and transfers made from a savings or money market account to a combined total of six per account cycle. This includes withdrawals made by check or draft to third parties; debit or ATM card point-of-sale (POS) purchases; and pre-authorized withdrawals such as automatic transfers for overdraft protection and transfers made by telephone, online banking, mobile banking, bill pay, wire and facsimile. Withdrawals and/or transfers exceeding the 6 per account cycle allowance, will result in a $15 excessive withdrawal fee per transaction. If limitations are continuously exceeded, it may result in conversion to a checking account. Withdrawals and transfers made in person at a U.S. Bank branch or at an ATM are not included in the limit of six per account cycle.
Unlike checking accounts, checks written on money market accounts are not returned with your statement. For additional disclosures on rates, fees, compounding and crediting, and other balance information, call 800-673-3555 or visit your local branch. Certificates of deposit offered by U.S. Bank National Association. FDIC insured up to the maximum allowed by law. Penalty may be imposed for early withdrawal.
Additional Savings and Money Market Disclosures
The average collected balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. Unlike checking accounts, checks written on money market accounts are not returned with your statement. For additional disclosures on rates, fees, compounding and crediting, and other balance information, call 800-673-3555 or visit your local branch.
Deposit Products offered by U.S. Bank National Association. Member FDIC.