Richwood Bank is dedicated to offering businesses the most rewarding accounts possible as well as services that are geared to simplify processing for you. We call this our “Commitment to Community Business” – a continual evolution of services and products that provide you the tools to thrive.
When you win,
we win.
Community wins.
Whether it be our award-winning mobile app, online banking tools, merchant services, or our new service lines such as payroll, financial investments, marketing agency or education training at RichwoodU – we are rooting for you to succeed.
Waive Service Charge
Cash Back
Interest
Bump Interest
COMMAND
ACCOUNT
$25
eStatements
$25,000 average
daily balance
+$5
+$20
+$5
$25,001-$99,999 Deposit Relationship
$100,000+ Deposit Relationship
Richwood Bank Loan
.75%
2 or 3
Products
4 or more
Products
.80%
.85%
Valued Service Line
Additional
.15%
LEAD
ACCOUNT
$15
eStatements
$5,000 average
daily balance
+$5
+$10
+$5
$5,001-$24,999 Deposit Relationship
$25,000+ Deposit Relationship
Richwood Bank Loan
.25%
2 or 3
Products
4 or more
Products
.30%
.35%
START
ACCOUNT
$10
eStatements
$2,500 average
daily balance
+$5
+$5
+$5
$2,500-$4,999 Deposit Relationship
$5,000+ Deposit Relationship
Richwood Bank Loan
GREEN ZONE
First six months free
- eStatements: Save stamps, printing, processing and paper by opting in for eStatements. So much easier, too. You can print them if you want to hold them in your hands.
- Required Balance: Minimum average daily balance required to get you one step closer to waiving the service charge. We use community funds in checking accounts to reinvest as loans for community members.
Cash Back
Cash Back opportunities go above and beyond the qualifiers to provide you with cash rewards to alleviate any monthly fees for the account. Complete enough of them, and you’ll experience business banking plus cash – deposited into your account every month you qualify.
Start – maximum cash back is $15 monthly
Lead – maximum cash back is $20 monthly
Command – maximum cash back is $30 monthly
- Above Balance: When you exceed the required minimum balance (each account has its own levels) you’ll earn $5 cash back. Take that balance to the second level and you’ll earn double (Start) to 5x cash back (Command).
- Richwood Loan: Don’t have the capital to compare to the vision of your business? Our commercial loan officers are geared up to get your operations where they need to be for the next level of growth. You’ll also earn back for it.
Interest Earning
Lead and Command accounts require higher balances to earn higher rewards. Every month, we offer earned interest on your balance – matter what. If you’d like more interest applied to your balance, it’s easy to earn more.
At Richwood, we offer an entire suite of additional solutions to make your business run faster, more accurate, and seamless in the eyes of your customer. Choose two or four of these commercial products and receive a bonus bump of interest to your bottom line each month.
Pick 2 for the first bump, pick 4… well, fist pump!
- Business Online ACH: Pay all vendors same day or next day with a couple clicks.
- Digital Deposit: If you receive a lot of those paper checks from customers, lease our hardware that allows you to deposit ad process payments conveniently from your office or storefront.
- Merchant Services: Today, plastic is preferred and why have some dot com solicitor process your sales? Choosing the Richwood Bank network guarantees fraud protection with our team supporting you. We’ll audit transactions for free and see if we can beat your current rate. Mobile, POS, eCommerce and more.
- Retail Lock Box: Do customers mail you payments? A lot of payments? If you are tired of the envelope opener and mama entry of receivables to your books, consider letting us take care of it all for you.
- Smart Safe: Imagine a virtual Richwood Bank in your business receiving all your cash transactions safely and securely… and talking to us daily so the funds are available in your account. We make arrangements to pick it up with you, too. Pretty slick.
- Postive Pay: We’re big on anti-fraud. Reduce your risk of altered and counterfeit checks by checking them against records created through Positive Pay. You review the report and decide whether the check is to be paid or rejected.
- Bill Pay: You probably don’t enjoy paying your bill every month about as much we do. Paying your bills with Bill Pay saves you time, stamps, paper, and keeps your bills all in one place. Accessed through our mobile app or online banking, type in how much you want to pay, to where, and hit submit. That’s it.
- Mobile Check Capture: We’ve go a mobile banking app just for our businesses. It’s not just about seeing your balances – transfer money, pay your bills and make deposits. Just take a picture of the check you’d like to deposit.
Bigger Interest – Bigger Returns
Go beyond our commercial products to our dedicated service teams prepared to customize plans tailored to make your business stand up, stand out and roar. Oh, and earn even more interest back on your balance each month.
- Richwood Payroll: If you aren’t staying abreast with government mandated payroll deductions and filings, you might want to call us. Pay your people through a confidential, affordable and guaranteed service that lets you rest easy.
- Richwood Marketing: Community business is a big deal so if you want to look like you are with fresh branding, mobile friendly website and digital solutions to get you noticed in this cluttered world, we can help you with that.
- RichwoodU: New to the value service line is a team focused on training, coaching and educating you, your employees and our community. Customer service, leadership and accountability are merely the start. Let’s teach one another how to fish and make our business sector stand out for our shared knowledge and success.
- Richwood Financial: What’s your end game with business? Family legacy or sell it and buy a boat – our team works with you on your personal goals and aspirations so you can be invested in the right plan to get there faster.
