Restricted transactions as defined in Federal Reserve Regulation GG are prohibited from being processed through any account or relationship with Texas Exchange Bank. Restricted transactions generally include, but are not limited to, those in which credit, electronic fund transfers, checks, or drafts are knowingly accepted by gambling businesses in connection with the participation by others in unlawful Internet gambling.
Texas Exchange Bank offers business checking packages – we have options for both Sole Proprietors and the more commercial enterprise!
Our low-fee, business checking account offers the convenience of a checking account with low minimum balance requirements.
Business Interest Checking offers the convenience of a checking account that earns interest* and has a low opening balance!
*The interest rate and annual percentage yield may change, at our discretion, at anytime. Please see Rates tab, at left, for our current rate offerings.
Please refer to the account terms and disclosures for further information and limitations ON ALL BUSINESS ACCOUNTS – please contact a New Accounts Representative for this document.
By federal law, as of January 1, 2013, funds in a noninterest-bearing transaction account (including an IOLTA/IOLA) will no longer receive unlimited deposit insurance coverage, but will be FDIC-insured to the legal maximum of $250,000 for each ownership category.
For more information, please visit www.fdic.gov/deposit/deposits/unlimited/expiration
To obtain more information about temporary FDIC insurance coverage and other deposit insurance coverage and the level of protection that the insurance affords, please refer to the website address provided below:http://www.fdic.gov
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