Unlocking Growth: How Business Banking Solutions Propel Your Enterprise Forward

Home Blog Unlocking Growth: How Business Banking Solutions Propel Your Enterprise Forward

Posted On: May 6, 2024 by Peoples Bank of Kankakee County in: business

In the dynamic landscape of business, having the right financial partner can be the key to success! At Peoples Bank, we understand the diverse needs of businesses and offer a comprehensive suite of banking solutions designed to fuel growth, streamline operations, and maximize efficiency.

Let’s explore how our tailored business banking services can empower your enterprise to thrive.

1. Business Checking Accounts: A strong financial foundation begins with the right checking account. Our business checking accounts are designed to suit businesses of all sizes, offering features such as online and mobile banking access and competitive interest rates. With customizable account options, you can find the perfect fit for your business's unique needs.

2. Online Business Banking: In today's digital age, convenience and efficiency are paramount. Our online business banking platform provides secure and convenient access to manage your finances anytime, anywhere. From monitoring account balances to initiating transactions and paying bills, our intuitive online banking portal puts control at your fingertips, allowing you to focus on what matters most – growing your business.

3. Card Processing Services: Simplify digital payment transactions and enhance customer experience with our comprehensive card processing services. Whether you're accepting credit card payments in-store, online, or on-the-go, our solutions are designed to streamline transactions, reduce processing costs, and improve cash flow. With seamless integration and dedicated support, you can trust our card processing services to meet your business's evolving needs.

4. Business Debit Cards: Empower your employees with the flexibility and convenience of business debit cards. Our debit cards offer secure access to funds, allowing for easy purchases and expense tracking. With real-time transaction alerts, you can maintain control over business expenses while providing your team with the tools they need to succeed.

5. Fraud Prevention: Protect your business from the growing threat of fraud with our advanced fraud prevention services. From our free Positive Pay to secure authentication methods, we employ industry-leading security measures to safeguard your business's financial assets and sensitive data. With proactive monitoring and rapid response capabilities, you can mitigate risks and maintain peace of mind.

In conclusion, effective business banking is essential for driving growth, managing finances, and mitigating risks.

At Peoples Bank, we're committed to partnering with businesses to provide innovative solutions and personalized support every step of the way. With our comprehensive suite of business banking services, you can unlock new opportunities, overcome challenges, and achieve your business goals with confidence.

Experience the difference of banking with Peoples Bank and propel your enterprise forward today!

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways:

We have standard overdraft practices that are available after your account has been open for 30 days and as long as you maintain your account in good standing.
We also offer an overdraft protection plan, Overdraft Protection Sweep, a link to a savings account. It may be less expensive than our standard overdraft practices. To learn more, ask us about this plan.

This notice explains our standard overdraft practices.

What are the standard overdraft practices that come with my account?

After your account has been open for 30 days and as long as you maintain your account in good standing, we do authorize and pay overdrafts for the following types of transactions:

Checks and other transactions made using your checking account number
Automatic bill payments

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):

ATM transactions
Everyday debit card transactions

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.

If we do not authorize and pay an overdraft, your transaction will be declined.

What fees will I be charged if Peoples Bank of Kankakee County pays my overdraft?

Under our standard overdraft practices:

We will charge you a fee of up to $30 each time we pay an overdraft.
The maximum daily overdraft fee per presentment or item paid using the Overdraft Reserve Program is $150.00 per day.
No per item handling fee will be charged on de minimis overdrafts. De minimis overdraft for this policy means transactions that overdraw your account by $30 or less.
There is an overdraft fee of $5 per day that will be charged beginning the 4th consecutive business day your account is overdrawn.

Nonsufficient funds (NSF) fees - if an item drafted by you (such as a check) or a transaction you set up (such as a preauthorized transfer) is presented for payment in an amount that is more than the amount of money in your account and we decide not to pay the item or transaction, you agree that we can charge you an NSF fee for returning the payment. Be aware that such an item or payment may be presented multiple times by the merchant or other payee until it is paid, and that we do not monitor or control the number of times a transaction is presented for payment. You agree that we may charge you an NSF fee each time a payment is presented if the amount of money in your account is not sufficient to cover the payment, regardless of the number of times the payment is presented.

PAYMENT ORDER OF ITEMS - The law permits us to pay items drawn on your account in any order (for purposes of this section "items" means checks, orders and electronic transactions). To assist you in handling your account with us, we are providing you with the following information regarding how we process those items. When processing checks and orders drawn on your account our policy is to pay lower numbered checks and orders in numerical sequence, but electronic transactions are paid first in the order received. The order in which items are paid is important if there is not enough money in your account to pay all of the items that are presented. There is no policy that is favorable in every instance. If the smallest items are paid first, you may have fewer NSF or overdraft fees, but the largest, and perhaps more important items (such as rent or mortgage payments) might not be paid. However, if the largest items are paid first, your most important items might be paid but it may increase the overdraft or NSF fees if funds are not available to pay all of the items. We think our policy attains a reasonable balance between minimizing additional costs to you and paying your more important items. We encourage you to make careful records and practice good account management. This will help you to avoid creating items without sufficient funds and incurring the resulting fees.

What if I want Peoples Bank of Kankakee County to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions after your account has been open for 30 days, you may opt in.

You have an ongoing right to change this consent at any time. If your overdraft privilege has been revoked for any reason, the opt-in or opt-out selection may not apply. Please contact your nearest office for more information.

Alternate ways to Opt In/Out or make changes:

By Phone. Our Customer Care Representatives can be reached at 815-936-7600.
By Mail. Peoples Bank of Kankakee County, 333 E. Court Street, Kankakee, IL 60901
In Person. Please visit your local office and ask a representative to help you decide which plan is best for you.