Simply Free Business Checking

Provident's free business checking account is perfect for small businesses and organizations with a low volume of deposits and checks paid. It doesn't require a large opening balance and there are no minimum balance requirements or fees. Ask an associate to see if your business qualifies for this account. The minimum required to open this account is $100.

Guidelines include:

  • One location
  • 10 or less employees
  • $1 million or under in sales
  • Each business is limited to two accounts

Business Interest Checking

Business Interest Checking is available only to non-profit organizations and sole proprietorships.

  • Minimum to open this account is $100
  • No monthly fee if a $2,000 average collected balance is maintained.
  • Interest is paid on collected balances of $600 or more.
  • If average collected balance falls below minimum, monthly service fees are paid by the client on a direct-charge basis.
Standard fees are as follows:

Monthly Maintenance Fee:

$8.00
Per Deposit: .40
Checks and other debits: .15

Interest on Lawyers Trust (IOLTA)

The IOLTA account earns interest on trust funds deposited by attorneys into a consolidated trust account. Provident debits the interest from the account and remits it to the state IOLTA Board.

  • Minimum to open this account is $100
  • Interest is paid on collected balances.
  • No monthly fee.
  • Interest is paid on collected balances of $600 or more.

Business Money Market Account

Businesses with available cash to invest on a short-term basis will enjoy the interest-earning potential of Provident?s Business Money Market Account.

  • Minimum to open this account is $1,000
  • No monthly fee if a $1,000 average collected balance is maintained
  • $10.00 monthly service fee if balance falls below $1,000
  • Federal regulations limit third-party transactions or pre-authorized transfers to six per statement. Over this limit, each item is $10.00.

Provident Online

ProvidentOnline is the e-Banking solution for our business clients that provides 24/7 access and flexibility to manage their deposit accounts as well as other cash management features.

ProvidentOnLine offers all the information you need, available right when you need it and delivers it directly to your desktop.

Traditional eBanking Services
  • View up to the minute account balances and history wherever Internet access is available
  • Transfer funds between accounts
  • Verify daily debit, credit and cleared items
  • Online stop payments that are effective immediately
  • View images of canceled checks
  • Capability to create personal alert reminders
  • Download transaction history on all of your accounts (Microsoft� Excel, Quicken�, Microsoft� Money, or QuickBooks™)
Bill Payment
Bill Payment feature that offers both electronic and check payments. Organizing your payables in a central online service provides shorter lead-times for the payment process which puts more flexibility and control in your hands.

Cash Management Services

Provident offers ACH Origination to help business clients originate and receive electronic funds transfers (EFT) with speed and accuracy. Depositing payrolls, paying suppliers and collecting receivables are three common uses of EFT services. EFT transactions are becoming routine for companies who need to move cash nationwide for next-day availability. With ACH Origination, you can:

ACH Origination
  • Process recurring payments quickly and accurately
  • Obtain receivables more quickly
  • Eliminate costs associated with paper-based transactions-fewer checks to purchase, write, reconcile and mail
  • Receive a complete record of transactions for an audit trail
  • Provide payees timely payments directly into their bank accounts

Electronic Federal Tax Payment System (EFTPS)

The Federal Government has mandated that businesses file their taxes electronically. They also want employers to deposit income and payroll taxes withheld from employees and certain other taxes electronically. There are a number of options for business customers to meet these requirements.

  • With the ACH debit option, the IRS takes the tax payment out of your business account. The IRS provides two methods: Touchtone phone or via the Internet. In both methods, you complete an IRS enrollment form, and the bank verifies your account information. You dial or log on to the IRS and authorize them to debit your account on the due date.
  • With the ACH credit option, you - the taxpayer - have control, and you direct your payment electronically. With ProvidentOnline, you create an ACH file and we send the file to the IRS.

Wire Transfer

One of the fastest and most secure methods of sending and receiving funds is through a wire transfer. Wires accepted by 2 pm ET will be sent the same day.

Internationally, our Foreign Wire Transfer Service is the safest way to transfer funds to or from most countries. Your incoming and outgoing wires are as good as cash. Outgoing foreign wires accepted by 2 pm ET will be sent the same day.

Business Services

Remote Deposit Capture    Login
Business can scan and deposit checks electronically directly to their business account. All that is needed is a personal computer with internet access, and a scanner. Simply place the checks through the scanner, and watch each paper check convert into an electronic image, resulting in an electronic deposit into your bank account.

CLICK HERE FOR REMOTE DEPOSIT CAPTURE DEMO

Electronic Data Interchange (EDI)
EDI is an automated process to exchange documents in a standardized electronic format between companies therefore streamlining your business process.

Business Credit Card
Using a credit card for all of your business transactions gives you greater financial flexibility. A MasterCard Business Card from Provident Community Bank is designed exclusively for businesses like yours.

Merchant Processing
If you are not accepting plastic, you may be losing business. Individuals and corporations are increasingly using credit and debit cards for all kinds and sizes of purchases

Investment Sweep Account

An Investment Sweep Account makes the most of your daily operating funds by automatically transferring cash into an investment account. You can operate multiple checking accounts and once daily we automatically sweep excess cash from those accounts into one interest-bearing account, so each dollar reaches its full potential in investment earnings. The benefits to your business include:

  • Daily interest earnings at a money market rate
  • Automatic use of your daily idle cash
  • The flexibility to link multiple accounts to your Sweep Account

Zero-Balance Account

A zero balance account allows the business client improved control over disbursements and cash. A business' various checking account balances are always kept at zero while available cash is channeled into a concentration account of your choice. These funds are then available to you for investment or debt reduction purposes.

Positive Pay

Positive Pay is an automated fraud detection tool. This service matches the account number, check number and dollar amount of each check presented for payment against a list of checks previously authorized and issued by the business. All components of the check must match exactly or it will not pay.

Full, Partial and Deposit Reconciliation

This service is offered through on-line banking under our E-Delivery setting on www.providentonline.com. The reconciliation feature will balance the business� credits and debits against posted items at the Bank. Full reconciliation will balance both debits and credits while partial and deposit reconcile debts or credits only.

Electronic Data Interchange (EDI)

Electronic Data Interchange (EDI) is a business to business exchange of data electronically. The benefit is having the service streamline your business process. For example, ABC Company pays 123 Company thru ACH. The ACH payment contains an attached file with the invoice number, account number and description of the service completed. The Bank can take the attached file and translate the data into an easy to read format for accounts receivable processing.