Accounts / Services
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Business Analyzed Checking
The Bank of Santa Barbara Analyzed Checking is designed for Professional Practices of all sizes. With Analyzed Checking, you can design your banking relationship from a broad menu of products and services and only pay for the products and services that you want with earnings credits on your deposit balances. Let your money work as hard as you do.
Disclosure of Account Terms: You can open a Business Analyzed Checking Account with just $1,000. This is a fully analyzed account with unlimited activity. An earnings credit based on the collected monthly balance may offset any service charge assessed. The Bank of Santa Barbara indexes our earnings credit to be in the highest tier of our local peer group. For complete disclosure information, please refer to the Account Disclosure Statement provided at the time of opening these accounts.
Small Business Checking
The Bank of Santa Barbara Small Business Checking Account is designed especially for Clients with a limited volume of deposit items, check writing, and other account activity. You can open a Small Business Checking Account with just $1,000 and avoid the $8.00 monthly service charge by maintaining a minimum daily balance of just $2,500. The Bank of Santa Barbara is here to help you grow your practice.
Disclosure of Account Terms: A deposit of $1,000 is required to open this account. Monthly service charge of $8.00 will be charged unless a $2,500 minimum daily balance is met. Total monthly debits should not exceed 150 and total monthly credits should not exceed 50. Any item in excess of limit will be charged $0.20 per item. For complete disclosure information, please refer to the Account Disclosure Statement provided at the time of opening these accounts.
Business Interest Checking
The Bank of Santa Barbara Business Interest Checking Account is designed especially for sole proprietors so that you only need a single account to operate your business, yet earn interest on your idle funds. The Bank of Santa Barbara helps you make all your money work for you.
Disclosure of Account Terms: A deposit of $2,500 is required to open this account. Monthly service charge of $12.00 will be charged unless a $5,000 minimum daily balance is met. Total monthly debits should not exceed 80 and total monthly credits should not exceed 50. Any item in excess of limit will be charged $0.20 per item. Interest will compound daily and be credited monthly. Should you close the account prior to interest credit, accrued interest will be forfeited. For complete disclosure information, please refer to the Account Disclosure Statement provided at the time of opening these accounts.
Business Money Market
The Bank of Santa Barbara Business Money Market Account is designed for our clients that want their money to work as hard as they do. With two alternatives to choose from, you can select the product that best fits your needs. You can earn a competitive interest rate by opening a standard Money Market Account with just $10,000 or take advantage of our High Yield Tiered Account, with rates that increase as your balances increases, with an opening balance of $50,000. Make sure your money is working as hard as you are with The Bank of Santa Barbara Money Market Account.
Disclosure of Account Terms:
Transaction Limitations: You may make up to six (6) withdrawals from your account each statement cycle, if by preauthorized or automatic transfer, or telephone (including data transmission) agreement, order or instruction, check, draft, debit card or similar order (including POS transactions), made by the depositor and payable to third parties. Transfers and withdrawals made in person, by messenger, by mail or at an ATM are unlimited. By Federal Regulation, a excessive withdrawal fee will be assessed for each transaction exceeding the limitations. For complete disclosure information, please refer to the Account Disclosure Statement provided at the time of opening these accounts.
The Bank of Santa Barbara Interest on Lawyer Trust Account (IOLTA) keeps your client trust funds secure while offering you the convenience of automatically transferring your interest to the appropriate state bar association. Segregate your client trust funds from your operating accounts, but still have complete real-time on-line access for ease of management.
Employee Benefit Banking
The Bank of Santa Barbara Employee Benefit Banking program allows you to provide an added benefit to your team. Because of your business relationship with The Bank, we extend offers for no service charge personal accounts for any of your staff that will sign-up for direct deposit from you. You take the credit for providing a benefit and we take care of their personal banking needs.
Health Savings Accounts
Individuals - The Bank of Santa Barbara Health Savings Accounts (HSA) provide individuals with a smart way to save money to help pay for their current and future qualified medical expenses on a tax-free basis.
Businesses - As a business owner, you can offer an HSA-eligible health plan and compete with companies to attract and retain good employees. When you turn to The Bank of Santa Barbara to make available HSAs for your employees, you give your employees a way to earn tax-free dollars on account contributions made by you, your employees, and any other person on their behalf. These contributions help your employees pay for qualified medical expenses on a tax-free basis.
The Bank of Santa Barbara makes available the Health Savings Account as a custodian only. The HSA is intended to qualify as a Health Savings Account as set forth in Internal Revenue Code Section 223. However, the account beneficiary that establishes the HSA is solely responsible for ensuring that he/she satisfies the Health Savings Account eligibility requirements set forth in Section 223. If an individual/employee establishes a Health Savings Account and he/she is not otherwise eligible, he/she will be subject to adverse tax consequences. In addition, an employer who makes contributions to a Health Savings Account of an ineligible individual may also be subject to adverse tax consequences. We recommend that HSA applicants and/or employers contact qualified tax or legal counsel before establishing a Health Savings Account.
Zero Balance Accounts
The Bank of Santa Barbara Zero Balance Account (ZBA) is a perfect solution for Clients with multiple locations, or simply to use as a clearing account such as for payroll. Have satellite offices deposit directly into a specified ZBA and then set automatic sweeps to consolidate funds to your general operating or investment account. Or as a clearing account, tie the ZBA to your general operating account so that funds are transferred into the account only as checks or debits clear against the account. Maximize your cash management with The Bank of Santa Barbara Zero Balance Account.
Business ATM/Debit Cards
The Bank of Santa Barbara Business ATM/Debit Cards can take the place of petty cash drawers or be used to track routine business expenses. You can also have free access to over 800,000 ATMs world-wide. With The Bank of Santa Barbara ATM/Debit Card, you have free, unlimited access to your funds 24 – 7, 365 days/year.
Sign up for Online Statements and help the environment while making your life easier. With The Bank of Santa Barbara e-statement, you don’t have to wait for the mail. Instead, you receive email alerts when your statements are available for your review. You can also leave the filing, organization, and record-keeping to us. We keep up to 18 months of your statements organized and easily accessible from wherever you have internet access. And, it is more secure. Less financial information in your mailbox reduces your risk of identity theft. Almost 85% of identity theft cases start with stolen paper statements, bills, or checks. On average, it is twice as fast to detect fraud by monitoring accounts electronically as it is via paper statements. Online statements are password protected and encrypted on our secure online banking platform. When you stop your monthly paper checking or savings account statements, you can help the environment by reducing paper consumption, and best of all, they're free!