Account Analysis is an account statement—separate from your regular monthly account statements—that outlines the charges that your company incurred from banking services provided to your business. Received services may include the monthly account maintenance fee, number of deposits, checks paid, remote deposit capture, ACH origination, wire transfers, etc. Our detailed Account Analysis Statements allow you to review account balances, activity and charges in an organized and easy-to-understand format.
Businesses that utilize an analyzed checking account receive “earnings credit,” to help offset eligible account fees.
To determine your earnings credit, FirstCapital Bank of Texas uses the formula below:
Earnings Credit Rate X Balance to Support Activity X Days in a Month/365 = Earnings Credit Allowance
Please note that the Earnings Credit Rate is determined by each bank and is stated in your Account Analysis Statement. The Balance to Support Activity is comprised of the Average Daily Collected Balance in the account (less 10% Legal Reserve Requirements). Days in month/365 is the number of days in that particular calendar month, divided by 365 (the number of days in a year).
For more information about Account Analysis, visit our Account Analysis blog piece here or call 844.322.8393.