Empowering Your Business with the Right Banking Solutions

Home Blog Empowering Your Business with the Right Banking Solutions

Posted On: April 28, 2025 by Peoples Bank of Kankakee County in: business Local

Running a business involves juggling multiple tasks, from managing operations and customer relations to tracking finances. One of the key factors to your business’s success is having the right banking tools and support in place. At Peoples Bank, we understand the unique financial needs of business owners, and we're here to help you streamline your banking and make the most of your hard-earned money.

1. Simplify Your Cash Flow with Business Checking Accounts

Maintaining healthy cash flow is vital for the day-to-day operations of your business. A business checking account offers a dedicated place for your business transactions, making it easier to manage incoming and outgoing payments.

Why a separate business account matters:

Better organization: Keep your personal and business finances separate to make accounting and tax filing easier.
Streamlined payments: Accept payments via checks, credit cards, and direct deposits more efficiently.
Professionalism: Using a business checking account adds a layer of professionalism and credibility to your business operations.

Peoples Bank offers a range of checking account services designed to fit the unique needs of small and large businesses alike. Whether you’re looking for basic services or more advanced features, we’ve got you covered.

2. Secure Your Business with a Business Savings Account

Having a business savings account provides a cushion for unexpected expenses or a future expansion fund. Even small, consistent deposits can accumulate over time, giving you peace of mind knowing you have financial resources for future opportunities or challenges.

Benefits of a business savings account:

Earn interest: Grow your savings with competitive interest rates.
Accessibility: While the money is separate from your checking account, it’s still easily accessible when you need it.
Financial security: With a savings account, you can plan for the long term, whether it’s for business growth, equipment upgrades, or covering emergencies.

At Peoples Bank, we offer flexible savings solutions to help you plan for the future while safeguarding your business against financial uncertainties.

3. Enhance Efficiency with Business Online and Mobile Banking

In today’s fast-paced business world, you need the ability to access and manage your accounts anytime, anywhere. Our online and mobile banking services provide secure, user-friendly platforms to handle your banking needs on the go.

Features of our online and mobile business banking services include:

Remote deposits: Deposit checks from anywhere without having to visit a branch.
Real-time account monitoring: Track balances, view transaction history, and ensure your accounts are in good standing.
Fund transfers and bill pay: Move funds between accounts and pay bills without the hassle of paperwork.

4. Secure Financing for Growth and Operations

Whether you’re expanding your business, purchasing equipment, or covering operating expenses, having access to reliable financing options is crucial. Peoples Bank offers a variety of loans tailored to businesses of all sizes.

Types of financing available for businesses include:

Real Estate Loans: Loans for commercial, investment, and multi-family properties.

Term Loans: A lump sum loan that can be used for short or long-term needs.
Lines of Credit: Flexible borrowing options that allow you to access funds when needed.

Having the right loan option can help you take your business to the next level, whether it’s through new technology, hiring more employees, or expanding your inventory.

5. Protect Your Business with Merchant Services

If your business accepts payments from customers, merchant card processing services can simplify transactions and offer more payment options. Peoples Bank provides secure and efficient payment solutions, ensuring that both you and your customers have a seamless experience.

Merchant services at Peoples Bank include:

Point-of-sale (POS) systems: Accept credit and debit card payments in-store or online.
E-commerce solutions: Set up secure online payment options for your website.
Mobile payment solutions: Allow customers to pay via their mobile phones, making transactions easier and more convenient.

6. Detect and Stop Check Fraud with Positive Pay

With check fraud on the rise, protecting your business finances has never been more critical. To help, we’re proud to offer Positive Pay, a complimentary fraud prevention service designed to detect and stop check fraud before it affects your business account. Here’s how it works:

Send us your secure online data file of all checks written for your business. We verify the checks presented including payee, check number, and dollar amount.
Any items that do not match the file are halted until you can review and approve items.
This ensures that no fraudulent checks are paid and keeps your account secure.

Enrolling is easy. Just give us a call and we’ll happily guide you through the process.

Partnering with Peoples Bank for Your Business’s Success

At Peoples Bank, we’re committed to helping businesses grow, stay secure, and reach their full potential. Our business banking solutions are designed to provide the support, flexibility, and financial tools you need to succeed in today’s competitive market.

If you're ready to take the next step in growing your business, we’re here to help. Reach out to our business banking team today to explore our services and find the right solutions for your needs.

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways:

We have standard overdraft practices that are available after your account has been open for 30 days and as long as you maintain your account in good standing.
We also offer an overdraft protection plan, Overdraft Protection Sweep, a link to a savings account. It may be less expensive than our standard overdraft practices. To learn more, ask us about this plan.

This notice explains our standard overdraft practices.

What are the standard overdraft practices that come with my account?

After your account has been open for 30 days and as long as you maintain your account in good standing, we do authorize and pay overdrafts for the following types of transactions:

Checks and other transactions made using your checking account number
Automatic bill payments

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):

ATM transactions
Everyday debit card transactions

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.

If we do not authorize and pay an overdraft, your transaction will be declined.

What fees will I be charged if Peoples Bank of Kankakee County pays my overdraft?

Under our standard overdraft practices:

We will charge you a fee of up to $30 each time we pay an overdraft.
The maximum daily overdraft fee per presentment or item paid using the Overdraft Reserve Program is $150.00 per day.
No per item handling fee will be charged on de minimis overdrafts. De minimis overdraft for this policy means transactions that overdraw your account by $30 or less.
There is an overdraft fee of $5 per day that will be charged beginning the 4th consecutive business day your account is overdrawn.

Nonsufficient funds (NSF) fees - if an item drafted by you (such as a check) or a transaction you set up (such as a preauthorized transfer) is presented for payment in an amount that is more than the amount of money in your account and we decide not to pay the item or transaction, you agree that we can charge you an NSF fee for returning the payment. Be aware that such an item or payment may be presented multiple times by the merchant or other payee until it is paid, and that we do not monitor or control the number of times a transaction is presented for payment. You agree that we may charge you an NSF fee each time a payment is presented if the amount of money in your account is not sufficient to cover the payment, regardless of the number of times the payment is presented.

PAYMENT ORDER OF ITEMS - The law permits us to pay items drawn on your account in any order (for purposes of this section "items" means checks, orders and electronic transactions). To assist you in handling your account with us, we are providing you with the following information regarding how we process those items. When processing checks and orders drawn on your account our policy is to pay lower numbered checks and orders in numerical sequence, but electronic transactions are paid first in the order received. The order in which items are paid is important if there is not enough money in your account to pay all of the items that are presented. There is no policy that is favorable in every instance. If the smallest items are paid first, you may have fewer NSF or overdraft fees, but the largest, and perhaps more important items (such as rent or mortgage payments) might not be paid. However, if the largest items are paid first, your most important items might be paid but it may increase the overdraft or NSF fees if funds are not available to pay all of the items. We think our policy attains a reasonable balance between minimizing additional costs to you and paying your more important items. We encourage you to make careful records and practice good account management. This will help you to avoid creating items without sufficient funds and incurring the resulting fees.

What if I want Peoples Bank of Kankakee County to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions after your account has been open for 30 days, you may opt in.

You have an ongoing right to change this consent at any time. If your overdraft privilege has been revoked for any reason, the opt-in or opt-out selection may not apply. Please contact your nearest office for more information.

Alternate ways to Opt In/Out or make changes:

By Phone. Our Customer Care Representatives can be reached at 815-936-7600.
By Mail. Peoples Bank of Kankakee County, 333 E. Court Street, Kankakee, IL 60901
In Person. Please visit your local office and ask a representative to help you decide which plan is best for you.