Last Updated: 04/18/2025
Exchange Bank of California Sole Proprietor Checking
Unaffiliated
Last Updated: 04/18/2025
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Highlights
Monthly Service Fee
$10(Verified 03/19/2025)
ATM Fee: Out-of-Network (within the U.S.)
Starting at $1.50
Minimum Average Balance to Avoid Monthly Service Fee
Starting at $2,500
APY (Annual Percentage Yield)
0.02% - 0.09%(Verified 06/21/2024)
Exchange Bank of California Sole Proprietor Checking Review
Exchange Bank of California Sole Proprietor Checking is offered by Exchange Bank of California, a bank founded in 1890 and based in Santa Rosa, CA. Exchange Bank of California Sole Proprietor Checking is available in 1 state.
Key Takeaways
- Low annual percentage yield (APY). The maximum annual percentage yield for this account is only 0.09% .
- Charges a monthly fee. This account charges a monthly fee of $10, but the fee may be waived if you keep a minimum balance of$2,500.
- $500 minimum opening deposit. This is a typical minimum initial deposit.
- Bill pay. Pay your bills to practically anyone in the United States when you enroll in Exchange Bank of California mobile or online banking.
Exchange Bank of California Sole Proprietor Checking Pros & Cons
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Exchange Bank of California Sole Proprietor Checking FAQ
Are business checking accounts from Exchange Bank of California federally insured?
Yes, your deposits are insured by the Federal Deposit Insurance Corporation (FDIC). 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 Sole Proprietor Checking offer?
Exchange Bank of California Sole Proprietor 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.
| Rates | Amount |
| APY (Annualized Percentage Yield) | 0.02% - 0.09% |
What are the account minimums for Exchange Bank of California Sole Proprietor Checking?
Exchange Bank of California Sole Proprietor Checking requires a minimum initial deposit of $500 to open an account.
| Description | Amount |
| Minimum Initial Deposit | $500 |
| APY Minimum Balance | $0.01 |
| Minimum Combined Balance to Avoid Monthly Fee | $10,000 |
| Minimum Balance to Avoid Monthly Fee | $2,500 |
What fees does Exchange Bank of California Sole Proprietor Checking charge?
This account charges a monthly maintenance fee of $10.
| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Monthly Service Fee | $10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Paper Statement Fee | Starting at $5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ATM Fee: In-Network | Starting at $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ATM Fee: Out-of-Network (within the U.S.) | Starting at $1.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NSF Fee | $32 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Overdraft Item Fee | Starting at $32 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Returned Deposit Fee (Domestic) | Starting at $10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Card Replacement Fee (Standard Delivery) | Starting at $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Online Bill Pay Fee | Starting at $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stop Payment Fee | Starting at $32 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Check Image Service | Starting at $2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Check Copy | $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Foreign Transaction Fee (Debit Card) | Starting at 1.2% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Wire Transfer Fee - US Domestic (Outgoing) | Starting at $30 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Wire Transfer Fee - International (Outgoing) | Starting at $55 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Wire Transfer Fee - International (Incoming) | Starting at $15 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Returned Deposit Fee (International) | Starting at $10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Wire Transfer Fee - US Domestic (Incoming) | Starting at $15 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What features and perks does Exchange Bank of California Sole Proprietor Checking offer?
This account includes the following features:
- Fraud monitoring - Exchange Bank of California Sole Proprietor 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 Sole Proprietor Checking allows you to manage your money online. This includes depositing checks in your account with your smartphone.
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Hours of Operation
Sunday
Closed
Monday
9:00AM - 5:00PM
Tuesday
9:00AM - 5:00PM
Wednesday
9:00AM - 5:00PM
Thursday
9:00AM - 5:00PM
Friday
9:00AM - 5:00PM
Saturday
Closed