At SunTrust we offer a wide range of commercial checking and NOW accounts to serve the unique needs of business, government and nonprofit clients. All our accounts are designed to help you manage your organization’s finances as conveniently and cost-effectively as possible.
Law firms can use a SunTrust IOLTA (Interest on Lawyers Trust Account) to place nominal or short-term client funds into a pooled account that earns interest used to benefit public service programs approved by the state bar. We manage distribution of interest and provide automatic proof of payment as well as receipts for business records and tax reporting.
Escrow Solutions: Tailored escrow solutions can help clients better manage risk associated with a broad range of business transactions.
1 At the end of each month, SunTrust sets an Earnings Credit Rate (ECR). Using the SunTrust ECR, we calculate the value of earnings credit on the balances (sometimes referred to as value of balances) in your account and apply that value against service activity expenses. The ECR used for the analysis period is always displayed on the account analysis statement. SunTrust uses the following calculation to derive the value of Earnings Credit on available balance: Average Available Balance x ECR ÷ days in the year x days in the month = Earnings Credit on Average Available Balance. Average Available Balance is calculated by subtracting related reserves, if applicable, from the average positive collected balance.
2 To determine the amount of excess balances, the following calculation is used: Average Available Balances - Balances Required to Offset Service Charges = Excess Balances. If you are in a negative net analysis position, the value of excess balances will equal zero to indicate that there are not sufficient balance levels maintained in the account to earn interest. The following calculation is used to derive the balance level required to offset all service charges: Service charges ÷ Earnings Credit Rate x days in year ÷ days in month = Balances Required to Offset Service Charges.
From goal-setting to financial planning and alternative earning strategies, here’s how attitudes and practices have shifted over the past three years among middle market companies.
While sentiment has been up and down, middle market executives are currently less confident in the global and local economies than in 2018. Learn more from these year-over-year trends.
Globalization may have its ups and downs, but in the long term, business with aspirations for growth have to evaluate the opportunities and decide whether to jump in.
Business email compromise and business identity theft are two of the latest and most potent fraud threats that business need to identify and prevent.
Fraud attacks are up 50% in just two years, drawing on the resources of companies of all sizes and requiring new protections against ever-changing threats.
For details about Wire Transfers with SunTrust, call 1.800.947.3786 – options 1 & 4
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