Business Savings Account

In Your Best Interest

Savings accounts are the foundation of a healthy financial plan. PSB’s business savings account offers competitive interest rates.

Minimum opening deposit: $100 (Waived for minors)
Minimum daily balance: $100 (to avoid $1 minimum balance fee) (Waived for minors)
Daily minimum to earn Annual Percentage Yield: $10
Variable interest rate
Withdrawals per month: 5 ($1 service charge for each additional withdrawal) (Waived for minors)

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IMPORTANT INFORMATION ABOUT OPENING A LEGAL ENTITY ACCOUNT

Effective May 11, 2018, all banks will be subject to new rules under the Bank Secrecy Act will aid the government in the fight against crimes to evade financial measures designed to combat terrorism and other national security threats EACH time an account is opened for a covered Legal Entity, we are required to ask you for identifying information (name, address, date of birth, social security number as well as identification documents) for each individuals that has beneficial ownership (25% or more) and one individual that has significant managerial control of the Legal Entity if you are opening an account on behalf of a Legal Entity, you will be required to provide the appropriate documentation and to certify that this information is true and accurate to the best of your knowledge.