Business Checking Comparison Chart
| Commercial Checking | Gulf Star Now | Portside Business Checking | Gulf Stream Money Market | |
|---|---|---|---|---|
| Average Daily Balance to Avoid Monthly Maintenance Fees |
N/A
|
N/A
|
N/A
|
$2,500
|
| Interest Rate Structure |
N/A |
May be adjusted to be competitive with market rates/$2500 minimum daily balance to earn interest. |
N/A |
May be adjusted to be competitive with market rates. Tiered rates apply ($2500, $20,000 & $40,000 minimums to earn interest); see Investment Rate Index. |
| Minimum Opening Deposit |
$300
|
$300
|
$100
|
$300
|
| Monthly Maintenance Fees |
TBD using Account Analysis. Please see additional information in the section below. |
TBD using Account Analysis, except account not eligible for offset by compensating balances. Please see additional information in the section below.
|
$7 125 free items/month (deposits, checks/debits, deposited items) $.25/item after 125 (does not include electronic funds transfers) |
N/C if average daily balance remains $2,500 or over. If under $2,500 see Commercial Account Analysis, except account not eligible for offset by compensating balances. |
| Other Fees Which May Apply | ||||
| Additional Info | See Details | See Details | ||
| Statement |
Monthly
|
Monthly
|
Monthly
|
Monthly
|
| Withdrawals |
Unlimited |
Unlimited
|
Unlimited |
According to Reg D, transfers to another account or to 3rd parties by preauthorized, automatic, telephone (including internet or data transmission), check or similar order are limited to 6 per statement cycle. We further prohibit transfers to 3rd parties by POS or similar order. Each withdrawal or transfer in excess of the 6 allowable per statement cycle will incur a fee of $10 (does not include electronic funds transfers). |
|
Commercial Checking
Average Daily Balanace to avoid Monthly Maintenance Charges
N/A
Interest Rate Structure
N/A Minimum Opening Deposit
$300
Monthly Maintenance Charges
TBD using Account Analysis. Please see additional information in the section below. Other Fees Which May Apply and Additional Information
Statement
Monthly
Withdrawls
Unlimited |
Gulf Star Now
Average Daily Balanace to avoid Monthly Maintenance Charges
N/A
Interest Rate Structure
May be adjusted to be competitive with market rates/$2500 minimum daily balance to earn interest. Minimum Opening Deposit
$300
Monthly Maintenance Charges
TBD using Account Analysis, except account not eligible for offset by compensating balances. Please see additional information in the section below.
Other Fees Which May Apply and Additional Information
Statement
Monthly
Withdrawls
Unlimited
|
Portside Business Checking
Average Daily Balanace to avoid Monthly Maintenance Charges
N/A
Interest Rate Structure
N/A Minimum Opening Deposit
$100
Monthly Maintenance Charges
$7 125 free items/month (deposits, checks/debits, deposited items) $.25/item after 125 (does not include electronic funds transfers) Other Fees Which May Apply and Additional Information
Statement
Monthly
Withdrawls
Unlimited |
Gulf Stream Money Market
Average Daily Balanace to avoid Monthly Maintenance Charges
$2,500
Interest Rate Structure
May be adjusted to be competitive with market rates. Tiered rates apply ($2500, $20,000 & $40,000 minimums to earn interest); see Investment Rate Index. Minimum Opening Deposit
$300
Monthly Maintenance Charges
N/C if average daily balance remains $2,500 or over. If under $2,500 see Commercial Account Analysis, except account not eligible for offset by compensating balances. Other Fees Which May Apply and Additional Information
Statement
Monthly
Withdrawls
According to Reg D, transfers to another account or to 3rd parties by preauthorized, automatic, telephone (including internet or data transmission), check or similar order are limited to 6 per statement cycle. We further prohibit transfers to 3rd parties by POS or similar order. Each withdrawal or transfer in excess of the 6 allowable per statement cycle will incur a fee of $10 (does not include electronic funds transfers). |
Additional Information
Commercial Account Analysis allows for monthly maintenance fees, transaction fees and other components of the monthly activity cost to be offset by compensatory balances. Your monthly earnings credit is determined by your account's average collected balance, multiplying it by the earnings credit rate* and the number of days in the statement cycle and then dividing that number by 365 days. Your account will not be debited a monthly maintenance fee for the month if your monthly earnings credit is larger than your account's monthly activity costs. If the monthly activity cost is greater than the monthly earnings credit, the difference is your monthly maintenance fee. Commercial Account Analysis is used on all Texas Gulf Bank business checking accounts with the exception of the Portside account; however, please note that only non-interest-bearing accounts are eligible for an earnings credit offset.
*Earnings Credit Rate is subject to change at any time at bank's discretion. Earnings Credit Rate is equal to 91-day T-bill as of the first of each month. The interest rate as well as the rate index used in the calculation may change at any time at bank’s discretion. (average collected balance X earnings credit rate X number of days in statement cycle) / 365 = monthly earnings credit). Additionally, National Prime interest rate will be charged each day of the monthly statement cycle that you have a negative average collected balance and will be included in the miscellaneous service charge. (The amount of the negative average collected balance for the monthly statement cycle will be multiplied by the National Prime interest rate [Wall Street Journal /WSJ Prime Rate as of the first of the month] and that product multiplied by the number of days in the statement cycle, then divided by 365.) You may contact the bank for the current National Prime interest rate. The interest rate as well as the rate index used in the calculation may change at any time at the bank's discretion.
A third-party provider approves the application and negotiates the rates associated with the services.
Note: Deposits must be made to a teller before 3:00 P.M. CST to reflect in your balance for that business day. Transfers made using online banking or Q-line before 8:00 P.M. CST will be reflected in your balance the day the transfer is made. Deposits made through Remote Deposit Capture or Mobile Deposit must be completed by 5:00 P.M. CST to reflect in your balance for that business day. Transfers or deposits made after the cut-off times shown, or on a Saturday, Sunday or Federal holiday will show in your account on the next bank business day. More Detailed information is available upon request. Contact us at 1-800-467-7216.
Gulf Star Now - Additional Information
Checking With Interest Accounts are variable rate accounts with rates subject to change at any time at the bank's discretion. Interest Calculations are compounded and credited monthly on the daily collected balance. Interest will be credited to account on each statement cycle date. If account is closed prior to that date, you will not receive the accrued interest.
Money Market Accounts - Additional Information
Money Markets accounts are variable rate accounts with rates subject to change at any time at the bank's discretion. Interest calculations are compounded and credited monthly on the daily collected balance. Interest on Money Market Accounts will be credited to the account on each statement cycle date. If account is closed prior to that date, you will not receive the accrued interest. Per Reg D. transfers from a money market account to another account or to third parties by preauthorized, automatic or telephone (including internet banking or data transmission), check, or similar order are limited to six per statement cycle. We further prohibit transfers to 3rd parties by POS or similar order. Unlimited withdrawals from ATM or in person. In addition, accounts violating Reg D transaction limitations more often than 3 times in a 12-month period are subject to reclassification as a non-interest bearing account or closure. Each withdrawal/transfer in excess of the 6 allowable per statement cycle will incur a fee of $10.00 (does not include electronic funds transfers).