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Sovereign Business Premier
A package of robust banking products and services that a business needs to manage its cash flow, Sovereign Business Premier comes with additional benefits, including lower rates on business loans and lines of credit.
Included in Sovereign Business Premier are:
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Business Checking Plus
- $50 monthly maintenance fee, waived with:*
— $40,000 average daily ledger balance in the checking account
— Or a combined average daily ledger balance of $60,000 in checking and money market savings accounts
- 750 basic transactions** free each month (then $0.60 each)
- Free first order of checks (up to a $100 value)
- No charge for cash deposit processing up to $40,000 per month***
Business Debit Card
- No annual or monthly fee
- Use your Sovereign Business Debit Card to make purchases wherever Visa® debit cards are accepted
- Sovereign Cash RewardsSM: Earn up to 20% cash back† with every eligible online and in-store purchase at participating retailers with our Cash Rewards program
- Learn More
Business Online Banking with BillPay
- Free Business Online Banking with BillPay
- View all account activity, including balances, transactions, and images of checks and deposit tickets
- Initiate transfers and other transactions
- Control access to your account with separate user profiles for your employees
- Enroll Now
Business Money Market Savings account
- Can be linked to your business checking account for overdraft protection
- Feature no monthly fee with a qualified checking account
- Learn More
Lower Rates and Fees on Credit Solutions
- 0.50% rate discount on loans, lines of credit, and mortgages for your business if your monthly payments are automatically deducted from your business checking account††
- 1% rate discount on loans, lines of credit, and mortgages for your business (bringing the total rate discount to 1.50% with automatic payment deductions from a business checking account)††
- Origination fee of $250 waived on all lines of credit††† of $500,000 or less
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Time Saving Features
and Money Saving Services
You can also add these services to your Sovereign Business Complete package:
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Onsite Check Deposit
- Deposit check payments easily and securely from your business location
- Receive a free desktop check scanner
- Learn More
Online Wire Transfers
- A fast, reliable, and secure way to disburse funds and accelerate payments
- No monthly fee for online wire transfer module with Business with BillPay^
- Discounted online wire transfers
- Learn More
Online ACH
- A fast, reliable, and secure way to disburse funds and accelerate payments and collections
- No monthly fee for online ACH module with Business Online Banking with BillPay^
- Learn More
Merchant Services
- Solutions that can increase cash flow, build loyalty, attract repeat business, create process efficiencies, and satisfy your customers with convenient and safe purchases and include credit, debit, and check processing to branded gift cards
- Industry-leader First Data is our merchant processing provider
- Learn More
Payroll Services
- Save time and money with simple, efficient payroll solutions
- Reduce the time you spend on payroll and compliance
- Are provided by ADP, a recognized leader in payroll and payroll taxes
- Learn More
American Express® Business Cards
- American Express OPEN Gold Card: Earn 5% cash back for the first three months of membership, up to $200. With no pre-set spending limit and the annual fee waived the first year ($125 value), earn Membership Rewards® points for virtually every dollar you spend.
- American Express OPEN Simply Cash: Earn 5% cash back on automobile gas, office supplies, and wireless services; and 1% cash back on virtually all other purchases. 0% introductory APR on purchases for up to 12 months and no annual fee.
- Learn More
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Other Checking
and Professional Services Solutions
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Business Interest Checking
- An account designed for sole proprietors and non-profit organizations that earns interest on balances on deposit
- Learn More
Commercial Cash Management Checking
- Offers a credit on account balances that can be used to offset account transaction fees and fees for Cash Management services
- Learn More
Solutions for Professional Services
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Benefits for You and Your Employees
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Business Owner Premier Banking
- Available to business owners with a Sovereign business checking account
- The $10 monthly fee is waived with a combined balance of $15,000^^
- 0.25% interest rate bonus on eligible CDs
- 0.25% discount on automobile loans, home equity loans, and lines of credit if your monthly payments are automatically deducted from a Sovereign checking account
- Free Online Banking with BillPay
- Free standard checks or a $15 credit towards the design of your choice
- Learn More
Partnership Banking
- Our exclusive program that lets you offer your employees a unique package of banking products and services at no cost to you
- Learn More
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Learn more about FDIC Insurance
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More Safety — More Security
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Business Checking Plus accounts avoid monthly maintenance fees by maintaining an average daily ledger balance in the checking account itself or a combined daily average balance in additional checking accounts, money market accounts, and savings accounts with the same owner as the Business Checking account. Only balances in these combined, same-owner business deposit accounts can be considered when calculating the combined balance. |
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Transactions include checks paid, teller deposits, ATM deposits, deposited items, and ACH items (electronic debits and credits not originated by customer, Onsite Check Deposit batch deposits, Onsite Check Deposit items processed, and Onsite Check Deposit ACH converted transactions). Sovereign Merchant Services (credit and debit card payment processing), Sovereign Payroll & HR Services, and ACH debit items are not included.
In the case of excessive cash deposits, Sovereign reserves the right to transfer you to an account with more appropriate cash handling services. |
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Each month, up to $40,000 in cash may be deposited to Business Checking Plus at no charge. Cash Deposits exceeding the monthly threshold will be assessed a charge of $0.22 per $100 for Express Pack® deposits and $0.27 per $100 for non-express Cash Pack deposits. |
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Cash back is earned on purchases made at participating online retailers through the Sovereign Cash RewardsSM Program Website or in-store at participating national and local retailers when using your Sovereign Business Debit Card. Participating retailers are subject to change.
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To qualify for the 1% discount, customer must, as of the date of the loan closing, either have a Business Checking Plus account or otherwise have a qualifying business checking account relationship with Sovereign Bank. To qualify for the .5% discount, the borrower must sign up for automatic payment deductions from a Sovereign business demand deposit account at loan closing. The continuation of such discounts is subject to the terms of the loan documentation. Other terms and conditions may apply. |
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Sovereign Bank will waive the one-time, up-front origination fee of $250 for a Business Advisor Line of Credit for an amount not exceeding $500,000. Other fees may apply for lines up to and including $500,000. |
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Online Wire module monthly fee and Online ACH module monthly fee is $40 and Business Checking Plus customers may use this module at no monthly fee. |
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Combined balance of deposits, loans, and investments of $15,000. Mortgages, student loans, credit card balances, unsecured personal loans and lines if credit issued by FIA Card Services, NA, and the unused portion of any Sovereign credit line are not counted as part of the combined balance. |
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Equal Housing Lender - Member FDIC
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