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Sovereign Business Complete
Sovereign Business Complete is a package of essential banking products and services that a business needs to manage its cash flow and has all the elements that a successful business requires.
Included in Sovereign Business Complete are:
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Business Checking
- $15 monthly maintenance fee (waived for the first statement cycle), waived with:
— $5,000 average daily ledger balance in the checking account
— Or a combined average daily ledger balance of $10,000 in checking and money market savings accounts*
— Or 3 or more debit card purchases in a statement cycle
- 300 basic transactions** free each month (then $0.60 each)
- No charge for cash deposit processing, up to $10,000 per month***
Sovereign Business Debit MasterCard®
- Use anywhere a MasterCard debit card is accepted and at more than 2,300 Sovereign ATMs
- Easy Savings™—make qualifying purchases in-store, by phone, or online with select merchants and you instantly earn a cash rebate deposited into your business checking
account.†
- Learn More
Business Online Banking with BillPay
- Free Business Online Banking with BillPay
- View all account activity, including balances, transactions, and images of checks and deposit tickets
- Initiate transfers and other transactions
- Control access to your account with separate user profiles for your employees
- Enroll Now
Business Money Market Savings account
- Can be linked to your business checking account for overdraft protection
- Feature no monthly fee with a qualified checking account
- Learn More
Lower Rates and Fees on Credit Solutions
- 0.50% rate discount on loans, lines of credit, and mortgages for your business if your monthly payments are automatically deducted from your business checking account††
- 1% rate discount on loans, lines of credit, and mortgages for your business with qualifying deposit balances (bringing the total rate discount to 1.50% with automatic payment deductions from a business checking account)††
- Origination fee of $250 waived on all lines of credit††† of $500,000 or less
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Time Saving Features
and Money Saving Services
You can also add these services to your Sovereign Business Complete package:
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Onsite Check Deposit
- Deposit check payments easily and securely from your business location
- Receive a free desktop check scanner
- Learn More
Online Wire Transfers
- A fast, reliable, and secure way to disburse funds and accelerate payments
- No monthly fee for online wire transfer module with Business Online Banking with BillPay^
- Discounted online wire transfers
- Learn More
Online ACH
- A fast, reliable, and secure way to disburse funds and accelerate payments and collections
- No monthly fee for online ACH module with Business Online Banking with BillPay^
- Learn More
Merchant Services
- Solutions that can increase cash flow, build loyalty, attract repeat business, create process efficiencies, and satisfy your customers with convenient and safe purchases and include credit, debit, and check processing to branded gift cards
- Industry-leader First Data is our merchant processing provider
- Learn More
Payroll Services
- Save time and money with simple, efficient payroll solutions
- Reduce the time you spend on payroll and compliance
- Are provided by ADP, a recognized leader in payroll and payroll taxes
- Learn More
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Other Checking
and Professional Services Solutions
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Business Interest Checking
- An account designed for sole proprietors and non-profit organizations that earns interest on balances on deposit
- Learn More
Commercial Cash Management Checking
- Offers a credit on account balances that can be used to offset account transaction fees and fees for Cash Management services
- Learn More
Solutions for Professional Services
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Benefits for You and Your Employees
Available to business owners with a Sovereign business checking account.
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Business Owner Premier Banking
- The $10 monthly fee is waived with a combined balance of $20,000^^
- 0.25% interest rate bonus on eligible CDs
- .25% rate discount on Home Equity Loans, Home Equity Lines of Credit, Auto Loans, Personal Loans, and Personal Lines of Credit with automatic payment from a qualifying Sovereign account
- No fee to use another banks' ATMs in the United States (ATM owner may charge a separate fee)
- Free Graystone-style checks or a $15 credit towards the design of your choice
- Sovereign Online Banking with BillPay
- Learn More
Business Owner Preferred Banking
- The $8 monthly fee is waived with $2,500 average daily balance in checking or $7,500 combined average daily balance in checking, savings or money market savings accounts
- .25% rate discount on Home Equity Loans, Home Equity Lines of Credit, Auto Loans, Personal Loans, and Personal Lines of Credit with automatic payment from a qualifying Sovereign account
- No fee to use another banks' ATMs in the United States (ATM owner may charge a separate fee)
- Free first order of Graystone-style checks
- Sovereign Online Banking with BillPay
- Learn More
Partnership Banking
- Our exclusive program that lets you offer your employees a unique package of banking products and services at no cost to you
- Learn More
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Learn more about FDIC Insurance
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More Safety — More Security
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MasterCard is a registered trademark of MasterCard International Incorporated. |
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Monthly fees are waived when you maintain an average daily ledger balance in the checking account itself or a combined daily average balance in additional checking accounts, money market accounts, and savings accounts with the same owner as the Business Checking account. Only balances in these combined, same-owner business deposit accounts can be considered when calculating the combined balance. |
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Transactions include checks paid, teller deposits, ATM deposits, deposited items,
and ACH items (electronic debits and credits not originated by customer, Onsite
Check Deposit batch deposits, Onsite Check Deposit items processed, and Onsite
Check Deposit ACH converted transactions). Sovereign Merchant Services (credit
and debit card payment processing), Sovereign Payroll & HR Services, and ACH
debit items are not included.
In the case of excessive cash deposits, Sovereign reserves the right to transfer
you to an account with more appropriate cash handling services. |
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Each month, up to $10,000 in cash may be deposited to Business Checking at
no charge. Cash Deposits exceeding the monthly threshold will be assessed a
charge of $0.22 per $100 for Express Pack® deposits and $0.27 per $100 for
non-express Cash Pack deposits. |
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MasterCard Easy Savings Program Cardholder Terms and Conditions: Payment
must be made in full at a participating merchant location with your Sovereign
Business Debit MasterCard. Purchases do not qualify for the program if the
purchase transaction is a PIN based transaction, originated outside of the U.S. or
not processed through the MasterCard U.S. transaction processing system. The
rebate will appear on your statement after the purchase has posted to your card
account, not on the receipt, and may not be reflected until the next statement.
Other terms and conditions apply. For more information, visit easysavings.com. |
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| †† |
To qualify for the 1% discount, customer must, as of the date of the loan closing,
either have a Business Checking Plus account or otherwise have a qualifying
business checking account relationship with Sovereign Bank. To qualify for the
.5% discount, the borrower must sign up for automatic payment deductions from
a Sovereign business demand deposit account at loan closing. The continuation
of such discounts is subject to the terms of the loan documentation. Other terms
and conditions may apply. |
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Sovereign Bank will waive the one-time, up-front origination fee of $250 for a Business Advisor Line of Credit for an amount not exceeding $500,000. Other fees may apply for lines up to and including $500,000. |
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Online Wire module monthly fee and Online ACH module monthly fee is $40 and Business Checking Plus customers may use this module at no monthly fee. |
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Not counted as part of the combined balance are the following: mortgage loans; student loans; credit card balances, unsecured personal loans and lines of credit issued by FIA Card Services, N.A.; the unused portion of any Sovereign credit line; and indirect auto loans obtained through automobile dealers. |
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Equal Housing Lender - Member FDIC
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