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American National Bank

Account Services

Simplify your business

Smart account service solutions 

Simplify your business

Smart account service solutions 

Smart accounts for smart businesses

Running a business is complex. We help you make it a bit simpler with our account services. We have the right mix of operating accounts, payables accounts, and savings options to best serve your needs.

Do you want to automate your daily position? Or just get the most secure returns possible? Whether you're a small business owner, nonprofit, or large corporation, we're ready to help you identify the right suite of products to meet your needs.

Business Accounts

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Manage your business better with the right checking account for you. Open a robust savings account and build interest. We help you navigate the choices, looking into the specific needs of your business and finding the most dynamic choice for your business. Let us help you discover the account that best suits your business needs.

Take a look at our full lineup of checking and savings accounts for your business. 

 

Business Accounts

Account

Business Value Checking

Business Value Checking Plus Interest

Basic Business Checking

Business Focus

Business Money Market

Commercial Savings 1

Description

Designed as a low-cost alternative for businesses with limited transaction activity.

Designed as a low-cost alternative for businesses with limited transaction activity.

For the organization with a lower minimum balance and a limited number of transactions.

Value-added services to help your business be successful. Utilize two services listed below and get up to $30 credit to offset fees.**(1)

Maintain maximum flexibility to access funds while maximizing interest.

Low minimum balance savings account.

Interest Earned

No

Yes, earn interest at a competitive rate*

No

No

Competitive market rate*

Competitive market rate*

Account

Prime

Description

The Prime account is designed for businesses with higher banking activity; earnings credits offset or eliminate service fees.

Monthly Fee

No minimum balance; the monthly fee will be $15

Note: "Balance" means minimum daily balance.
* Rates will be determined at the sole discretion of the bank, based on current market conditions.
** Assumes the services chosen are active each month.
*** Items include debits, credits and checks deposited to your account.

(1) To qualify for the Business Focus Account, at least two of the following services must be used: Remote Deposit Capture, ACH Processing, Positive Pay, ChequeGuard, Lockbox or Merchant Card processing.

(2) Credit must be used within the first 90 days after opening account. Valid on checks, a remote deposit scanner or toward application fee for a business line of credit.

(3) Pre-authorized withdrawals (transfers by telephone, wire or online, overdraft protection, automatic payments or checks) are limited to a combined total of six per month. No more than three of the six may be made by check, draft or debit card. If transaction limitations are more than two times in 12 months exceeded, the account will be closed or converted to a checking account.

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Check Recovery

As a business, you need to collect your money on-time and in full. That's why we launched our checXchange™ program. This no-cost benefit can improve your cash flow by taking care of the bad checks written to your company. The service automatically collects your returned checks electronically as part of your benefits as a customer, saving you time and effort.

All successfully collected checks are reimbursed weekly to your business account at 100% of the face value of the returned check. If the check is not collected then it is returned to your business or optionally placed with an outsourced secondary collections agency.

The advantages of checXchange™:

  • FREE basic service
  • Your company stays out of the collection business
  • All returned checks are handled automatically
  • 100% of the face value of the check recovered
  • 75%-80% enhanced collection Rate of Recovery
  • Cash management improvement by recovering your money faster
  • Time saving - no more time wasted chasing down bad checks
  • 24/7 real-time, online access to all checks being collected by checXchange™

 

Read our checXchange welcome kit

Explore our terms and conditions

 

 

Investment Options

Invest smarter with American National Bank. We offer a range of investment options, each with their own strengths. Let us help you navigate the investment space of business banking.

Whether you need an Insured Cash Sweep (ICS) or a money fund sweep, we've got you covered at American National Bank. Explore our exciting investment options:

 

 

 

 

Investment Options

Money Market

Earn a higher rate of interest and have the flexibility to access funds when needed.

Certificates of Deposits (CDs)

A secure alternative to savings while earning a higher rate.

Daily Repurchase Sweep (Daily Repo)

An automated investment option in which you purchase a portion of a security held by the bank and agree on a daily basis to sell that security back to American National Bank. Your funds are covered by a pledge in a security owned by American National Bank, giving you additional protection above the FDIC insurance limit. You can choose to set your target balance in your checking account at the FDIC limit or at a higher limit to avoid monthly fees.

Money Fund Sweep

Put your money to work with an automated sweep account. This sweep account automatically invests your excess funds in a bank money market account. We work with you to determine the appropriate sweep level, giving you the best investment of your funds while ensuring you do not exceed the maximum number of withdrawals.

Insured Cash Sweep (ICS)

A sweep program that gives you the added benefit of FDIC coverage for the funds invested in ICS. We invest the funds through a network of FDIC banks with the deposits monitored and placed through the Promontory Network. Two sweep options are available, depending on your investment needs and level of activity:

  1. unlimited transfers to or from ICS, or
  2. a limited 6 transfers per month out of the ICS investment.

Certificate of Deposit Account Registry (CDAR)

A term certificate offered through the Promontory Network of FDIC-insured banks, enabling member banks to place customer funds under additional FDIC coverage. Your deposits will be placed with one or more banks up to the maximum FDIC limit to ensure you have full coverage. CDARs are placed once per week and can be invested for terms of 7 days, 13 weeks, 26 weeks, and 52 weeks.

Term Repurchase Agreement

Similar to Daily Repurchase Agreements, Term Repurchase Agreements are U.S. Government securities purchased by you for a specific term and then sold back to the bank at the end of that term.

NEW FDIC
NEW CDARS

 

 

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Nonprofit Accounts

Nonprofits often times have to do more with less. That's why we help them stretch every dollar as far as it can go. Whether it be managing a checking account for your daily transactions, depositing donations and other funds received, or paying bills by check, ACH, or card transaction - we have robust nonprofit accounts ready.

Our Treasury Services will complement your checking account by streamlining your day-to-day operations. 

 

Accounts for Nonprofit 501(c)(3) Organizations

Account

Nonprofit Checking

Nonprofit Checking Plus Interest

Basic Business Checking

Business Focus

Business Money Market

Commercial Savings 1

Description

Designed as a low-cost alternative for organizations with limited transaction activity.

Designed as a low-cost alternative for organizations with limited transaction activity.

For the organization with a lower minimum balance and a limited number of transactions.

Value-added services to help your business be successful. Utilize two services listed below and get up to $35 credit to offset fees.**(1)

Maintain maximum flexibility to access funds while maximizing interest.

Low minimum balance savings account.

Interest Earned

No

Yes, earn interest at a competitive rate*

No

No

Competitive market rate*

Competitive market rate*

Account

Prime

Description

The Prime account is designed for larger nonprofit organizations with higher banking activity. Earnings credits offset or eliminate fees.*

Interest Paid

Interest is paid at a competitive rate once you have offset your service fees.*

Monthly Fee

No minimum balance; the monthly fee will be $10

Credit to Offset Fees

Earnings credits are paid on your balance to offset monthly service charges. The rate is determined by the bank and may change at any time.

 

Note: "Balance" means minimum daily balance.
* Rates will be determined at the sole discretion of the bank, based on current market conditions.
** Assumes the services chosen are active each month.
*** Items include debits, credits and checks deposited to your account.
 

(1) To qualify for the Business Focus Account, at least two of the following services must be used: Remote Deposit Capture, ACH Processing, Positive Pay, Cheque Guard, Lockbox or Merchant Card processing.

2) Credit must be used within the first 90 days after opening account. Valid on checks, a remote deposit scanner or toward application fee for a business line of credit.

(3) Pre-authorized withdrawals (transfers by telephone, wire or online, overdraft protection, automatic payments or checks) are limited to a combined total of six per month. No more than three of the six may be made by check, draft or debit card. If transaction limitations are more than two times in 12 months exceeded, the account will be closed or converted to a checking account.

Sweep / Zero Balance Accounts

Automatic Sweep Account

Effortlessly invest with our Sweep Account system. Continuously and automatically roll surplus deposit account funds into and out of an investment account.

It works by automatically generating a "target balance" (based on the previous month's activity). It shifts extra funds to the investment account, or shifts them back if they're needed to cover activity.

Enjoy a higher yield on your funds with no additional work, and no sacrifice of liquidity. Accumulated interest is simply added to your investment account every month.

Zero Balance Account

Manage your funding more flexibly with Zero Balance Accounts (ZBAs). Balance funding for business purposes while maintaining control of your cash.

The ZBA accumulates activity throughout the course of a day.  At the close of business, just enough funds from the primary account are swept into the ZBA to cover that day's activity.  Likewise, excess funds can be transferred to the primary account. 

Establish multiple ZBAs for as many distinct business functions (like payroll). Track and control different aspects of your operation without fragmenting your central cash account.