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
|
$2,500.00
|
| Interest Rate Structure |
N/A |
May be adjusted to be competitive with market rates/$2500.00 minimum daily balance to earn interest. |
N/A |
May be adjusted to be competitive with market rates. Tiered rates apply ($00.01, $40,000.00, $100,000.00, $500,000.00 & $1,000,000.00 minimums to earn interest); see Investment Rate Index. |
| Minimum Opening Deposit |
$300.00
|
$300.00
|
$100.00
|
$300.00
|
| 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.
|
$7.00 125 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 $2,500.00 or over. If under $2,500.00 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 |
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). NOTE: TGB is temporarily suspending the enforcement of the limit of six (6) transfers or withdrawals from Savings and Money Market accounts per month or monthly statement cycle and temporarily suspending the assessment of fees for excess debits and penalties for excess debits for Savings and Money Market accounts effective 05-13-2020 through 12-31-2020. |
|
Commercial Checking
Average Daily Balanace to avoid Monthly Maintenance Charges
N/A
Interest Rate Structure
N/A Minimum Opening Deposit
$300.00
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/$2500.00 minimum daily balance to earn interest. Minimum Opening Deposit
$300.00
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
$100.00
Monthly Maintenance Charges
$7.00 125 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
$2,500.00
Interest Rate Structure
May be adjusted to be competitive with market rates. Tiered rates apply ($00.01, $40,000.00, $100,000.00, $500,000.00 & $1,000,000.00 minimums to earn interest); see Investment Rate Index. Minimum Opening Deposit
$300.00
Monthly Maintenance Charges
N/C if average daily balance remains $2,500.00 or over. If under $2,500.00 see Commercial Account Analysis, except account not eligible for offset by compensating balances. Other Fees Which May Apply and Additional Information
Statement
Monthly
Withdrawls
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). NOTE: TGB is temporarily suspending the enforcement of the limit of six (6) transfers or withdrawals from Savings and Money Market accounts per month or monthly statement cycle and temporarily suspending the assessment of fees for excess debits and penalties for excess debits for Savings and Money Market accounts effective 05-13-2020 through 12-31-2020. |
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.
*The Earnings Credit Rate for Commercial Account Analysis is based on Texas Gulf Bank's Cost of Funds and is subject to change at any time at the bank's discretion. Earning's Credit Rate is determined by Texas Gulf Bank, N.A. and is set each month based on current market conditions. You may call us at (800) 467-7216 for the current Earnings Credit Rate. 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.
*MasterCard® is a registered trademark of Mastercard International Incorporated and VISA® is a registered trademark of Visa International Service Association
Note: Except as shown below*, deposits made during our business hours (of the branch where the deposit is made) will be posted the same day. Business hours vary from location to location and may be found in the Location Guide of our website,
www.texasgulfbank.com/locations.
*Deposits made to your account via debit card must be received by 2:00 P.M. CST to be reflected in your balance that same business day. Deposits made through Remote Deposit Capture or Mobile Deposit must be completed before 5:00 P.M. CST to be reflected in your balance that same business day. Transfers made using TGB Online/Mobile Banking or Q-Line Automated Phone Service before 8:00 P.M. CST will be reflected in your balance that same business day. Transfers or deposits made after the cut-off times shown, or on a Saturday, Sunday, or Federal holiday, will be reflected in your balance on the next business day we are open. More detailed information is available upon request. Contact us at 1-800-467-7216.
Gulf Star Now (Non-profit organizations and sole proprietorships only) - 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.
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. 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 transaction limitations more often than 3 times in a 12-month period are subject to account closure or conversion to a checking or other transaction account. 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).
NOTE: TGB is temporarily suspending the enforcement of the limit of six (6) transfers or withdrawals from Savings and Money Market accounts per month or monthly statement cycle and temporarily suspending the assessment of fees for excess debits and penalties for excess debits for Savings and Money Market accounts effective 05-13-2020 through 12-31-2020.