Exchange Bank of California Business Advantage Checking

Exchange Bank of California Business Advantage Checking Review

Exchange Bank of California Business Advantage Checking is offered by Exchange Bank of California, a bank founded in 1890 and based in Santa Rosa, CA. Exchange Bank of California Business Advantage Checking are available in 1 state across the USA.

Key Takeaways

• Low APY. The maximum annual percentage yield for this account is only 0.09%.
• Charges a monthly fee. This account charges a monthly service fee of $25, but the fee is waived if you keep a minimum balance of $10,000.
• $500 minimum deposit. This is a typical minimum initial deposit, but there are accounts that require a smaller initial deposit or have no minimum.
• Bill pay. Pay your bills to practically anyone in the United States through Exchange Bank of California.

Exchange Bank of California Business Advantage Checking Pros & Cons

Exchange Bank of California Business Advantage Checking FAQ

Are business checking accounts from Exchange Bank of California federally insured?

Yes, your deposits are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #8468). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What APY does Exchange Bank of California Business Advantage Checking offer?

Exchange Bank of California Business Advantage Checking offers an APY starting at 0.02% and ranging up to 0.09% (APY stands for annual percentage yield, rates may change). However, to earn interest you must keep a minimum balance of $0.01.

What are the account minimums for Exchange Bank of California Business Advantage Checking?

Exchange Bank of California Business Advantage Checking requires a minimum initial deposit of $500 to open an account.

What fees does Exchange Bank of California Business Advantage Checking charge?

This account charges a monthly maintenance fee of $25.

What features and perks does Exchange Bank of California Business Advantage Checking offer?

This account includes the following features:

• Fraud monitoring - Exchange Bank of California Business Advantage Checking monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location or you make a sudden string of costly purchases.
• Free Bill Pay - Bill Pay allows you to pay bills easily from your account.
• Mobile Banking Services - Exchange Bank of California Business Advantage Checking allows you to manage your money online. This includes depositing checks in your account with your smartphone.