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Business Services
| Business customers may have interest earned on certificates of deposit automatically distributed to their checking or savings account(s). |
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| You may set up an automatic payment system at baybank whereby funds from your business accounts are automatically transferred to another account or applied to your baybank business or personal loan(s). There is no service fee for AFT. |
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| baybank offers businesses a convenient, competitively priced, VISA credit card through Elan. The business card can be used to track expenses as well as access business accounts after bank hours through an Automated Teller Machine (ATM). |
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| With an advanced Electronic Funds Transfer (EFT) program, baybank can provide businesses with a direct deposit payroll that saves time and money. Employee's have their pay directly deposited into their accounts and withholdings can be in up to ten different categories. Payroll can be entered any time during the day by computer modem or floppy disk. |
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| baybank can provide business customers an electronic payment system for recurring payments. Customers of your business voluntarily sign up to allow their payments to be automatically taken from their accounts at any financial institution and placed in your business account at baybank. Your customer avoids writing a check and paying postage, and you save the time and trouble of handling the payment. This Electronic Funds Transfer (EFT) program is an excellent way for your business to control cash flow and make short term investments with your idle dollars during the month. |
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| baybank is an authorized agent to receive all types of withheld taxes. baybank is also an enrollment center for the Electronic Federal Tax Payment System (EFTPS). This system saves the taxpayer time and money by eliminating coupons and checks and the need to deliver them to the bank. Contact any baybank office for information and enrollment forms for EFTPS. |
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| Business account customers may use secure night deposit drop boxes for after hours payments and deposits. Business customers are encouraged to use baybank's lock bag procedure for night deposit, which has a $25.00 refundable service fee. Night depositories are located in the drive through lane at each baybank location. |
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| baybank business customers may have one or two documents notarized free of charge. A small service fee may be charged for notarizing multiple documents. Notary Public services are available to businesses at all baybank locations. |
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| POS terminals are available to business customers through baybank on a rental or purchase basis. These terminals allow merchants to receive payment from their customers on debit or credit cards. This is a customer convenience that is very popular and the business is assured "good funds" rather than accepting questionable checks. |
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baybank has various sizes of safe deposit boxes to secure valuable business documents. Annual rental fees for boxes are as follows:
When opening a new business account, you can receive a small safe deposit box free for the first year. This $17.00 value can be applied to larger boxes |
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| baybank is happy to offer business customers a "fax" service in all three locations |
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| You may transfer dollars between your business and/or personal accounts by telephone. Please have your account numbers available and be prepared to provide other information for positive identification. There is a $3.00 service fee for telephone transfers. |
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| baybank offers both major credit cards (VISA and MasterCard) merchant plans to business customers. Accepting either of these cards from your customers has proven to increase gross sales. After accepting payment on the card, receiving same day credit is as simple as making a deposit. Manual and electronic services are available. |
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| baybank accepts and sends domestic and international wire transfers for businesses. The service fees for sending a wire are $20.00 for domestic and $60.00 for international. Non customers may receive wire transfers at baybank for a $10.00 service. baybank customers can receive wire transfers at no charge. |
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Last modified Tuesday August 08 2006
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