Interest bearing commercial accounts are available for certain qualified businesses, please contact a branch location  

BUSINESS BANKING

                                                                                                                                               

BUSINESS DEPOSIT PRODUCTS
Woodhaven National Bank is a member FDIC, accounts insured up to the maximum amount allowed by law.

Woodhaven National Bank offers several business checking packages – we have options for both the Sole Proprietor and for more commercial enterprises!


CHECKINGEDGE

Designed for the Sole Proprietor, our CheckingEdge for Small Business offers the convenience of a checking account with low monthly fees! Enjoy check writing and ATM/MASTERCARD® Debit card use with no per-check or per-transaction charges for the first 200 transactions.

  • Minimum Opening Balance $200.00
  • Service Charge
    • Minimum balance to avoid imposition of fees: A service charge fee of $12.00 will be imposed every statement cycle if the average daily balance for the cycle falls below $1,500.00. (The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.)
    • An additional debit fee of $.25 will be charged for each debit in excess of 200 during a statement cycle.
  • FREE ATM/MASTERCARD® Business Debit card
  • FREE Woodhaven National Bank ECOM Online Banking
  • FREE Online Bill Payment
  • FREE 24-Hour Telephone Banking
  • Monthly E-Statements or Imaged Statements

There will be a $30.00 NSF charge for each check/debit overdrawing the account


COMMERCIAL CHECKING

Commercial Checking puts you in control, giving you the options in ways that are most beneficial and profitable for you. There are no limits on the number of transactions for this account. An earnings credit allowance, based on the average investable balance maintained in the account, may offset per-item charges and Treasury Management charges.

  • Minimum Opening Balance $200.00
  • Service Charge
    • A monthly maintenance fee of $10.00 will be charged each statement cycle.
    • You will earn a credit on this account that will be applied to reduce the account fees. This earnings credit will be calculated by applying the 90-day T-Bill rate to the average investable balance for the monthly statement cycle.
    • For each day the account has a negative collected balance, a fee will be assessed based upon Woodhaven National Bank Prime +3% (calculated on average negative collected balance)
  • Fees
    • A fee of $.15 will be charged for each debit.
    • A fee of $.08 will be charged for each credit.
    • A fee of $.08 will be charged for each item deposited.
  • Woodhaven National Bank ECORP Online Banking*
  • Online Bill Payment*
  • FREE Telebank 24-Hour Telephone Banking
  • Monthly E-Statements or Imaged Statements 
  • ATM/Mastercard® Business Debit card
  • Treasury Management Services

There will be a $30.00 NSF charge for each check/debit overdrawing the account
*Applicable fees may apply

Interest bearing commercial accounts are available for qualified commercial customers.  For more details please contact a branch near you.


COMMERCIAL NOW CHECKING

The best of both worlds – Interest Checking provides the  convenience of a checking account while earning interest like a savings account.

  • Minimum Opening Balance - $1,000.00
  • Service Charge
    • A monthly maintenance fee of $10.00 will be charged each statement cycle.
    • You will earn a credit on this account that will be applied to reduce the account fees. This earnings credit will be calculated by applying the 90-day T-Bill rate to the average investable balance for the monthly statement cycle.
    • For each day the account has a negative collected balance, a fee will be assessed based upon Woodhaven National Bank Prime +3% (calculated on average negative collected balance)
  • Fees
    • A fee of $.15 will be charged for each debit.
    • A fee of $.08 will be charged for each credit.
    • A fee of $.08 will be charged for each item deposited.
  • Rate Information:Your interest rate and annual percentage yield may change.
    • Frequency of rate changes: We may change the interest rate on your account at any time.
    • Determination of rate: At our discretion, we may change the interest rate on your account.
    • Compounding and crediting frequency: Interest will be compounded every month. Interest will be credited to your account every monthly statement cycle.
    • Effect of closing an account: If you close your account before interest is credited, you will not receive the accrued interest.
  • FREE Woodhaven National Bank ECOM Online Banking
  • FREE Online Bill Payment
  • FREE Telebank 24 hour Telephone Banking
  • ATM/Mastercard® Business Debit Card Available
  • Monthly E-Statements or Text Statements
  • Treasury Management Services*

$30.00 NSF fee for each overdraft transaction.
*Applicable fees may apply      


COMMERCIAL SAVINGS

A convenient and accessible way to save money.

  • Minimum Opening Balance - $100.00
  • Service Charge-
    • Minimum balance to avoid imposition of fees: A quarterly maintenance fee of $3.00 will be imposed every statement cycle if the balance in the account falls below $100.00 any day in the cycle.
  • Withdrawal Terms-
    • Transaction limitations: Transfers from a Savings account to another account or to third parties by pre-authorized, automatic, telephone, or  transfer by ATM card are limited to three per quarter
  • Fees-
    • Fees: An excessive withdrawal fee of $1.00 will be charged for each debit in excess of three during a quarter
  • Rate Information-
    • Rate Information: Your interest rate and annual percentage yield may change.
    • Frequency of rate changes: We may change the interest rate on your account at any time.
    • Determination of rate: At our discretion, we may change the interest rate on your account.
    • Effect of closing an account: If you close your account before interest is credited, you will not receive the accrued interest.
  • FREE Woodhaven National Bank ECOM Online Banking
  • FREE Online Bill Payment
  • FREE Telebank 24 hour Telephone Banking 
  • Monthly E-Statements or Text Statement


COMMERCIAL MONEY MARKET

Your high yield money market account provides interest rate tiers, to maximize your return - the larger your balance, the higher the rate you receive on your funds.

    • Minimum Opening Balance - $2,500.00
    • Service Charge-
      • Minimum balance to avoid imposition of fees: A monthly maintenance fee of $15.00 will be imposed each monthly statement cycle if the average daily balance for that statement cycle falls below $2,500.00. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
    • Withdrawal Terms-
      • Transaction limitations are limited to six per monthly statement cycle.
    • Fees-
      • An excessive debit fee of $10.00 will be charged for each debit in excess of six during a statement cycle.
      • A fee of $.08 will be charged for each credit.    
      • A fee of $.08 will be charged for each item deposited.
    • Rate Information-
      • Rate Information: Your interest rate and annual percentage yield may change.
      • Frequency of rate changes: We may change the interest rate on your account at any time.
      • Determination of rate: At our discretion, we may change the interest rate on your account.
      • Effect of closing an account: If you close your account before interest is credited, you will not receive the accrued interest.
      • Daily balance computation method: We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. If your daily balance is $2,500.00 or more, the interest rate paid on the entire balance in your account will be equal to the Money Market account rate. If your daily balance is $2,499.99 or less, the interest rate paid on the entire balance in your account will be equal to the NOW Account rate.
      • Compounding and crediting frequency: Interest will be compounded every month. Interest will be credited to your account every monthly statement cycle.
      • Accrual of interest on noncash deposits: Interest begins to accrue no later than the business day we receive credit for the deposit on noncash items (for example, checks)
    • FREE Woodhaven National Bank ECOM Online Banking
    • FREE Online Bill Payment
    • FREE Telebank 24 hour Telephone Banking
    • Monthly E-Statements or Text Statements


CERTIFICATES OF DEPOSIT

Your Woodhaven National Bank Certificate of Deposit offers a guaranteed interest rate with terms from 30 days to 5 years. The interest rate and annual percentage yield will not change for the term of the account.

  • Competitive Interest Rates
  • Minimum deposits as low as $1,000.00 
 

Start the application process today.


What you need to open a Business Account:

Sole Proprietorship-  An unincorporated business owned by an individual

  • SSN or Business Tax ID # (Employer Identification Number) 
  • Business name filing document, such as an Assumed Name Certificate or Certificate of Trade Name, showing both the business name and the owner's name

Corporation- For Profit or Non-Profit- Business name contains "company", "corporation", "incorporated", or an abbreviation

  • Business Tax ID # (Employer Identification Number)
  • Articles of Incorporation or Certificate of Incorporation
  • Corporate resolution identifying authorized signers of the corporation and their powers

Limited Liability Company- Business name contains LLC

  • Business Tax ID # (Employer Identification Number)
  • Certificate of Formation 2006 to current, Prior to 2006 Articles of the Organization
  • Company resolution identifying authorized signers of the company and their powers

General Partnership- An unincorporated business owned by 2 or more people

  • Business Tax ID # (Employer Identification Number)
  • Partnership Agreement showing business name and name of partners
  • Partnership resolution identifying authorized signers of the partnership and their powers

Limited Partnership- A partnership with general and limited partners

  • Business Tax ID # (Employer Identification Number)
  • Limited Partnership Agreement showing business name and name of partners or
  • Business organizing document filed with and certified by state official, such as Certificate of Limited Partnership, showing business name and name of partners
  • Partnership resolution identifying authorized signers of the partnership and their powers

Limited Liability Partnership- Business name includes "LLP"

  • Business Tax ID # (Employer Identification Number)
  • Limited Liability Partnership Agreement showing business name and name of partners or
  • Business organizing document filed with and certified by state official, such as Certificate of Limited Liability Partnership, showing business name and name of partners
  • Partnership resolution identifying authorized signers of the partnership and their powers

Unincorporated Association

  • Business Tax ID # (Employer Identification Number)
  • Business name filing document, such as an Assumed Name Certificate or Certificate of Trade Name, showing both the business name and the owner's name
  • Organizing document, such as Articles of Association (if available) or Bylaws
  • Association resolution identifying authorized signers of the association and their powers

Federal law requires certain personal identification documents to open a bank account.  All individuals involved with a business account will need the following:

  • A valid Texas photo ID such as a driver's license, state-issued or military ID.  Non-citizens must provide their alien registration number
  • You must have your Social Security Number
  • And proof of your address (a utility bill, bank statement, or apartment lease will do).  The address must match your photo ID

Helpful Links:
Don't have an Assumed Name Certificate, contact your Texas County Clerk's office
Don't have an Employer Identification Number (EIN)? You can get more information and apply for an EIN online at the Internal Revenue Service website.


BUSINESS LOAN PRODUCTS

Woodhaven National Bank offers an array of business loans designed to meet your needs. We strive to maintain the best possible rates and payment choices while providing a variety of terms and options that are tailored to the exact needs of our customers including:

  • Commercial Loans
  • Real Estate Loans
  • Construction Loans
  • Lines of Credit
  • SBA Loans

Woodhaven National Bank is a SBA Preferred Lender. Please go to our SBA page for additional information.
For more information regarding rates and terms, please contact a branch near you.

We look forward to being your partner in the growth of your business, call or come by today to get started!