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Business Cash Management


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Contact us if you have any questions about our product line.

Services Features Benefits Fees
Business Online Banking (BEB) Provides online access to accounts, loans and services for business customers. Businesses can manage account access by job duty creating a layer of control and oversight
  • - Bill Pay
  • - Quicken/Direct Connect
  • - eStatements
  • - Multiple account transfers
  • - Administration function
  • - Cash Management products
 None
Automated Clearing House (ACH) Origination Services ACH services offer a cost-effective, and secure mechanism for processing credits and debits electronically. Ideal for recurring payments such as payroll, tax payments and membership dues. Take advantage of same-day processing functionality, provided files are received by the banks cut off time.
  • - Increased efficiency- Eliminates time to sign and print checks
  • - Provides detailed audit reports
  • - Secure access using an RSA token
  • - Same-day ACH must be received by 1:00 PM PST
  • - Traditional ACH files (not same day) must be received by 3PM PST
  • - 250.00 Credit Application Fee
  • - $ 40.00 Set-up Fee
  • - $ 40.00 Monthly Fee
  • - $ 50.00 Annual Review Fee
  • - $ 20.00 File Fee
  • - $ 0.08 Transaction Fee
  • - $ 0.08 Prenote Fee
  • - $ 0.08 Returned Item Fee
  • - $ 0.08 Notification of Change Fee
  • - $ 0.15 Same-Day ACH
Wires Send collected funds safely from your account directly to another person or company's financial institution account. Accessing this feature can be done in-person at one of our five branch locations or via our Business Online Banking product.
  • - Business Online Banking customers may initiate wires online
  • - Same-day receipt of guaranteed funds
  • - Domestic/International Wire Cutoff time for same day processing is 1PM PST
  • - Incoming Wires are credited throughout the day
  • - $25.00 for outgoing domestic wire
  • - $40.00 for outgoing international wire
  • - $10.00 for incoming wire either domestic or international
Remote Deposit Capture Remote Deposit Capture is a convenient way to manage your deposits from where you are conducting business – home or office. Deposits are scanned and deposited to your account.
  • - Deposit history and images are retained for 24-months
  • - Email notifications can be provided
  • - Ability to deposit multiple checks per day, 24-hours a day
  • - Reduces the chance of lost or stolen checks
  • - Same-day credit is given for business deposits received before 4PM PT, on a banking day (unless a hold is placed on the item)
  • - Retain deposits for 30 days then shred or bring to Summit for shredding
  • - $125.00 set-up fee
  • - $25.00 monthly maintenance fee
  • - $45.00 monthly scanner fee
  • - $0.10 per item fee
Positive Pay Check/ACH Positive Pay by Check is a service accessed through Business Online Banking which is one of the most effective anti-fraud tools available today for ACH transactions and/or check disbursements.
  • - Checks presented to the bank are reviewed against a list provided by the customer matching date, check number, dollar among and account number providing a strong line of defense against fraud.
  • - Items are reviewed with images available by 7AM PST
  • - Customers have until 11AM PST to make decision on images presented as possible fraud items.
  • - Accessed through BEB or a mobile device
  • - No limit to number of items
  • - Customer to set default pay or return for decisions not made before 11AM deadline
  • - System verifies items against issue date, amount, payee, account number and account type.
 Positive Pay Checks
  • - $25.00 monthly fee
  • - $0.01 per check transaction fee

Positive Pay ACH
  • - $25.00 monthly fee
Merchant Card Services We work with a third-party vendor, Granite Payment Alliance, who offers the performance, reliability and long-lasting functionally you need to expand your customer’s payment options while expanding your opportunities for sales.   Fees are charged by Granite Payment Alliance
Business Debit Card Summit State Bank offers all new and existing businesses a debit card. All debit cards issued are chip compliant.
  • - No fees for any withdrawals at any STAR or All Point terminals
  • - Daily ATM withdrawal limit at an ATM is $500.00
  • - Daily POS limit is $3,500.00
  • - All cards have a 3-year expiration date
 None
Courier Services Summit State Bank contracts with Rapid Express Courier Systems. This service offers a courier to come to your place of business and pick-up deposits and other banking related items.
  • - Limited Cash deposit pick-ups (max $1,500.00 per day)
  • - Same-day credit to account
  • - Loan Payments
  • - Deposit-Cash management transfers
  • - Fees are based on Zones and number of pick-ups
  • - All fees are charged by Rapid Express Courier Systems
Armored Car Services Summit State Bank partners with GARDA to safely provide a secure way to make cash deposits using an armored transport company. Customers have the option to schedule a single day pick-up or multiple day pick-ups. This partnership also provides customers that need to have cash or currency delivered to have access to an online portal to submit their own orders.   Fees are charged by GARDA
Insured Cash Sweeps (ICS) The Insured Cash Sweep (ICS) allows depositors to place large cash deposits quickly and confidently through Summit into a Network of institutions for additional FDIC coverage.
  • - Non-Profits, Corporations, Limited Liability Company, Individuals and Public Funds are eligible
  • - Safety of FDIC Insurance for large deposits over $250,000.00
  • - Interest-bearing or non-interest-bearing ICS options are available
  • - Network participation of 3,000 financial institutions
  • - Managed by Summit State Bank
  • - Detailed statements showing the financial institutions where funds are held
  • - $25.00 monthly maintenance fee
  • - Waived for Non-Profits
Certificate of Deposit Account Registry Service (CDARS) The Certificate of Deposit Account Registry Service, or CDARS, allows depositors to place large cash deposits quickly and confidently through the bank into CDs issued by multiple Network banks and be eligible for full FDIC insurance. Customers who wish to invest amounts that will put their deposits with Summit over the FDIC insurance limit may participate in the CDARS service. Customer funds are placed with other FDIC-insured banks and savings associations.
  • - FDIC Insurance for large deposits over $250,000.00
  • - Interest-bearing or non-interest-bearing ICS options available
  • - Network participation of 3,000 financial institutions
  • - Managed by Summit State Bank
  • - 4-week, 13-week, 26-week and 52-week terms. Early withdrawal penalties do apply
  • - Detailed statements including financial institutions
  • - New order placements will be submitted by 10AM PST every Wednesday
 None
Zero Balance Accounts/Sweep Zero Balance Accounts allows excess or deficit balances to be automatically transferred to and from a designated account as needed. Sweeps offers an effective way to ensure that excess funds are invested daily in a designated account or to pay down or advance for a line of credit.   Zero Balance Account
  • - $15.00 monthly fee

Sweeps
  • - $10.00 per sweep

 

Nonprofit Partner Program:


Designed for 501(c) tax-exempt organizations to enhance fundraising efforts and maximize organization’s money.

Non-interest bearing operating accounts: Earn 0.95% on non-interest bearing operating accounts. Analyzed business accounts are included. For example, a $100,000 average Summit account balance would receive a $950 annual contribution.

Interest-bearing accounts: Earn 0.25% on your interest-bearing Summit savings, money market and demand deposit accounts. For example, a $100,000 average Summit account balance would receive a $250 annual contribution.

Insured Cash Sweep (ICS): Earn 0.65% on non-interest bearing operating account or 0.15% for an interest-bearing account.

Download our Nonprofit Partner Program Handout

 

 

Summit State Bank - A Better Sonoma County. That's Our Business. Member FDIC

FDIC - FDIC-Insured - Backed by the full faith and credit of the U.S. Government

Phone:

(707) 568-6000

Email:

info@summitstatebank.com

Address:

500 Bicentennial Way
Santa Rosa, CA 95403

 

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Routing Number: 321181307

NMLS ID: 451741

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