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Exchange Bank of California Business Advantage Checking

in Business Checking Accounts from Exchange Bank of California · Member fdic

Unaffiliated

Exchange Bank of California Business Advantage Checking

Unaffiliated

in Business Checking Accounts from Exchange Bank of California · Member FDIC

Not enough votes for recommendation

Highlights
Monthly Fee	$25
ATM Fee: Out-of-Network	$1.50
Minimum Balance to Avoid Monthly Fee	$10,000
APY (Annual Percentage Yield)	0.02% - 0.09%

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 is available in 1 state across the USA.

Key Takeaways

Low APY. The maximum annual percentage yield for this account is only 0.09%, and you must keep a minimum balance of $0.01.
Charges a monthly fee. This account charges a monthly maintenance fee of $25, but the fee is waived if you keep a minimum balance of $10,000.
$500 minimum deposit. This account requires a higher minimum initial deposit than most of the checking accounts we track.
No minimum initial deposit. There is no minimum balance required to open an account.
Free bill pay. Pay your bills to practically anyone in the United States through Exchange Bank of California.
Hard credit pull. Exchange Bank of California may require a hard pull on your credit report to open a checking account.

Exchange Bank of California Business Advantage Checking Pros & Cons

Pros	Cons
Interest-yielding account. Access to physical branches. Free debit card and the option to lock/unlock the card if lost or stolen	No signup bonus. Does not provide access to a nationwide ATM network. Only available in one state. Higher than average wire transfer fees. Monthly service charge. Charges a fee on out-of-network ATM transactions.

Exchange Bank of California Business Advantage Checking FAQ

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

Yes, your Exchange Bank of California business checking accounts 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.

Exchange Bank of California Business Advantage Checking Rates and Terms
Rates	Amount
APY (Annualized Percentage Yield)	0.02% - 0.09%

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.

Exchange Bank of California Business Advantage Checking Account Minimums
Description	Amount
Minimum Initial Deposit	$500
APY Minimum Balance	$0.01
Minimum Combined Balance to Avoid Monthly Fee	$30,000
Minimum Balance to Avoid Monthly Fee	$10,000

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

This account charges a monthly maintenance fee of $25.

Exchange Bank of California Business Advantage Checking Fees
Description
Monthly Fee	$25
Paper Statement Fee	$5
ATM Fee: In-Network	$0
ATM Fee: Out-of-Network	$1.50
NSF Fee	$32
Overdraft Protection Fee (per transfer)	$10
Overdraft Item Fee	$32
Early Account Closure	N/A
Returned Deposit Fee (Domestic)	$10
Debit Card Replacement Fee	$0
Bank Teller Fee	N/A
Check Cashing Fee	N/A
Online Bill Pay Fee	$0
Stop Payment Fee	$32
Check Image Service	$2
Check Copy	$0
Foreign Transaction Fee (Debit Card)	1.2%
Wire Transfer Fee - Domestic (Outgoing)	$30
Wire Transfer Fee - International (Outgoing)	$55
Wire Transfer Fee - International (Incoming)	$15
Returned Deposit Fee (International)	$10
Wire Transfer Fee - Domestic (Incoming)	$15
ATM Reimbursement Monthly Limit	N/A

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.

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