Since 1863, Apple Bank has been helping business people reach their financial goals with products, services and responsive professional assistance designed to meet their ever-changing needs.
Apple Bank understands that businesses come in all sizes - from small entrepreneurial companies, to medium-sized professional groups, to large multi-layered organizations - each with banking needs ranging from the simple to the complex.
Which is why we offer our business customers affordable financial products designed and priced to meet their specific needs.
Business Value Checking
Apple offers two distinctly different Business Value Checking Accounts....SimpleValue Business Checking and SmartValue Business Checking. Select one depending on the typical monthly checking account activity for your business...either product provides you with a way to reduce or eliminate monthly charges. Mention code 5656 and when you open a new SimpleValue or SmartValue Business Checking account you will receive $25 off your first order of checks ordered through Apple Bank.
| SimpleValue Business Checking | ® |
Is your account profile one in which you consistently have low transaction volume, yet you maintain a $5,000 average monthly balance?
Apple's SimpleValue Business Checking provides small business customers a simple, straightforward checking account with the opportunity to eliminate a monthly maintenance fee.
To completely eliminate monthly service fees, simply maintain an average monthly balance of $5,000 and conduct up to 200 combined monthly transactions.
If the average monthly balance is less than $5,000, there will be a flat $15 fee; and, if you have more than 200 combined monthly transactions, there will be a $0.15 fee for every transaction.
Combined transaction volume is comprised of the following transaction items: each check paid, each item deposited, each $100 cash deposited and each deposit processed.
SmartValue Business Checking
Is your account profile one in which you typically have higher running account balances, plus high transaction volume?
Apple's SmartValue Business Checking affords business customers an opportunity to reduce or even completely offset monthly service charges.
The Earnings Credit
Each month, the SmartValue Business Checking Account will receive an earnings credit based on the average investable balance in the account. This credit will be used to offset certain service charges, including the $15 monthly maintenance charge and specific transaction activity fees. This earnings credit does not constitute an interest payment and is not carried over from month to month.
How Your Earnings Credit Is Calculated
To determine your earnings credit, Apple Bank first subtracts the average unavailable balance and a 10% reserve requirement from your average monthly balance. The result is your average investable balance. The current monthly earnings credit is 1.0% per annum calculated on the average investable balance during the cycle period.
| For Example | |
| Average balance | $ 33,000.00 |
| Less average unavailable balance | 1,000.00 |
| Equals average available balance | 32,000.00 |
| Less 10% reserve requirement | 3,200.00 |
| Equals average daily investable balance | 28,800.00 |
| Earnings Credit | $ 23.67 |
By maintaining higher balances in a SmartValue Business Checking Account, you can reduce or eliminate your monthly charges entirely.
Account Statements
To help you better track and manage your business' finances, you will receive a full statement of your Business Value Checking Account each month. All account activity is detailed and provided for your review.
Apple Business Money Market Account
Money Market Rates...Total Liquidity
Easy Access, Plus Federal Deposit Insurance Corporation Insurance (FDIC) Protection.
Apple's Business Money Market Account is an interest-bearing alternative to maintaining high balances in a business checking or savings account. It provides business customers with a fully liquid investment account that features check writing privileges.
You can open an Apple Bank Business Money Market Account with a minimum opening deposit of $5,000. Then, simply keep a minimum daily balance of $5,000 in your account to receive our high rate of interest. Call 1-914-902-2775 for touch-tone access to current interest rates.
In fact, as your balance increases, so does your earned interest rate. There will be no maintenance charge or penalty for withdrawals, when the minimum balance is maintained and you do not exceed check writing or pre-authorized transfer limits.
Your Business Money Market Account pays a competitive, tiered interest rate. Interest compounds daily and is credited monthly. You will receive a statement each month that details all of the account's activity, including any interest earned. The statement also lists any maintenance and service charges assessed on your account, which may effectively reduce the interest earnings.
Your Apple Business Money Market Account provides for:
- Unlimited deposits and withdrawals at any Apple Bank branch
- Transfers between your business Money Market and other Apple Bank business accounts
- Check writing privileges - write up to three checks per month at no charge
- Maximum FDIC protection
Visit a local branch today or call our CustomerLine at 1-914-902-2775 for additional information on opening an account or click here.
Other Valuable Services to Help your Business Run Smoother
24 Hour ATM Business Banking*
When you establish either a Business Value Checking Account or Business Money Market Account, you are eligible to receive free Business Banking ATM Cards. Use them to make deposits or withdrawals, transfer funds between accounts, or check account balances at any nearby Apple Bank ATM. Take advantage of thousands of NYCE® and CIRRUS® ATM network machines worldwide to conduct your business.
For maximum convenience and security, we offer two different types of Business ATM Cards...
The "FULL SERVICE" Card offers:
Withdrawals of up to $500 daily, deposits to Business Checking, Money Market or Savings Accounts, transfer of funds between accounts and balance inquiries. A maximum of two "FULL SERVICE" Cards are available for each Business Value Checking or Business Money Market Account.
The "DEPOSIT ONLY' Card offers:
Processing of deposits only, neither withdrawals nor transfers between accounts can be conducted by using a "DEPOSIT ONLY" Card. Each Business Value Checking or Business Money Market Account can have this limited-function ATM card.
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Your Apple ATM/Check Card is now protected by Verified by Visa -- it password protects your card for free. The next time you shop at participating online stores, enter the information requested to activate your Apple ATM/Check Card in order to complete the transaction. Your card will then have password protection whenever you shop online at participating stores. Activate right now by going to 24 Hour Telephone Banking*
By calling 1-914-902-2775, you can access a wealth of information about your business accounts. Finding out current balances, what checks have cleared, and interest earned are just a few of the important account activity details available to you absolutely free.
Need to transfer funds? You can transfer funds between Apple Bank business accounts through our touch-tone service by calling 1-914-902-2775 at no cost. Execute a simple Telephone Transfer Agreement when you open your new account and this valuable, free service is yours immediately. Please be sure to request this form.
*Certain restrictions apply. Please speak with a customer service representative for further details.
Apple SureCredit®
Secured Business Credit
Apple's SureCredit products provide both new and existing business customers with an instant, low-cost method of borrowing for business needs of any kind. With this unique borrowing option, new businesses are also afforded the opportunity to build a credit history. SureCredit does not require any financial information or credit bureau report. There are no application or annual fees.
With SureCredit, businesses utilize the available funds they have on deposit at Apple Bank as collateral for a revolving line of credit or a fixed term installment loan. With a qualifying account, your line or loan could be approved in just a few minutes.
Apple Edge
Merchant Services
Business Retirement Accounts
Savings Banks Life Insurance (S.B.L.I.)
Lease Security
Safe Deposit Boxes
Interest on Lawyer's Accounts (IOLAs)
For more information on any Business product or service, or to open an account, you may visit a local branch, call us at 1-914-902-2775 or click here.
