Features

Deerwood Bank offers the professional commercial services you expect from a “big” bank, while maintaining  the convenience and service that only a local bank can provide. These are just a few of the services that can make a difference for your business:

Business Checking Account Inclusives:

  • It’s free – no costly analysis charges
  • No minimum balance
  • Free check images included with statements
  • View checking and savings activity on a combined monthly statement
  • Online Banking – Secure and easy-to-use online access to both personal and business accounts
  • Mobile Banking – Access accounts anywhere from a smartphone, tablet and even text message
  • Mobile Deposit – Deposit checks electronically using a smartphone or tablet
  • Free Business Debit Card – no cash withdrawal fees at thousands of ATMs nationwide

Business Savings

Business Savings Account Inclusives

  • Interest paid monthly based on daily balance
  • $50 minimum balance to avoid a service charge of $4 per month
  • Account status alerts sent via email or text*
  • Personal assistance for your accounts and questions

Free Features

  • Online Banking + Bill Pay
  • Mobile + Text Banking
  • Mobile Deposit. Subject to approval.
  • Telephone Banking
  • Online Statements

Optional Add-ons

  • Free ATM card
  • No cash withdrawal fees at thousands of ATMs nationwide
  • View checking and savings activity on a combined monthly statement

Business Savings+ Account Inclusives

  • Includes all options from the above Business Savings option
  • Monthly interest earned on daily balance. $20,000 minimum balance to avoid a service charge of $4 month.

Optional Add-ons

  • Free ATM card
  • No cash withdrawal fees at thousands of ATMs nationwide
  • View checking and savings activity on a combined monthly statement
 

Frequently Asked Questions

Q: Are there other services offered in business checking?
A:

Yes! Click here for more information.

Q: Are there any unlawful business items I should know about?
A:

Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006

The UIGEA, signed into law in 2006, prohibits any person engaged in the business of betting or wagering (as defined in the Act) from knowingly accepting payments in connection with the participation of another person in unlawful internet gambling. The Department of Treasury and the Federal Reserve Board have issued a joint final rule, Regulation GG, to implement this Act.

As defined in Regulation GG, unlawful Internet gambling means to “place, receive or otherwise knowingly transmit a bet or wager by any means which involves the use, at least in part, of the internet where such bet or wager is unlawful under any applicable Federal or State law in the State or Tribal lands in which the bet or wager is initiated, received or otherwise made”.

As a customer of Deerwood Bank, these restricted transactions are prohibited from being processed through your account or banking relationship with us. If you do engage in an Internet gambling business and open a new account with us, we will ask that you provide evidence of your legal capacity to do so.

Please see one of our Customer Service specialists if you would like additional information on UIGEA or Regulation GG.