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suntrust bank business checking

We go over the top small business banking options on the market today. business loans, small business checking account options and fees. Maintain $10,000 total combined balances between linked deposit and investment accounts; Have a linked SunTrust small business checking account. SunTrust (now Truist) has a $200 checking bonus when you open a new SunTrust Business Checking Account.
suntrust bank business checking

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Easy Approval $100,000 Line of Credit! Major Game Changer! (BB\u0026T and SunTrust, Now Truist!)

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SunTrust

https://www.suntrust.com/lp/new-smallbusiness-checking-account

Eligible SmallBusiness accounts include Total Business Banking, Select Business Banking, Business Interest Checking, Business Advantage Plus, Simple Business Checking and Primary Business Checking. 8 Online Payroll is provided through our relationship with Sure Payroll, Inc. Sure Payroll, Inc. is not an affiliate of SunTrust Bank, now Truist Bank.

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https://suntrust.fdecs.com

Welcome to SunTrustBusiness Card Online. Access Your Account If you have any problems accessing the SunTrustBusiness Card Online service, please call the customer service number located on the back of your card. Forgot Your User Name or Password? You can access your account by re-registering with your credit card number.

SunTrust Online Banking

https://www1.onlinebanking.suntrust.com/UI/movemoney

Truist Wealth is a marketing name used by Truist Financial Corporation. Services are offered by the following affiliates of Truist Financial Corporation: Banking products and services, including loans and deposi

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Best Banks for Small-Business Checking 2021

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Published on November 10, 2021

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Last Updated: 6 days ago

BlueVine is back to banking as usual, which means it’s also back in our number-one spot. We do need to point out that BlueVine lowered the interest rate on its accounts from 1% to 0.6%. But that’s still a great rate. Between that and everything else BlueVine has to offer, it remains our favorite business checking account.

Updated: 3 weeks ago

We’ve added Kabbage to our rankings as our new top bank for business checking. It’s displacing BlueVine, which has temporarily stopped extending new bank accounts. Once BlueVine resumes normal banking, we’ll update this article and our rankings.

Updated: several months ago

Azlo, our favorite checking account for freelancers, has begun shutting down (a disappointing loss). We’ve removed it from our recommendations and added Novo (another online bank) to our top five instead. 

And what if you’re looking for Azlo bank alternatives? Unfortunately, none of our remaining picks offer the same excellent freelancing features Azlo did (like free, easy invoicing). So while we’ve still got some great choices for fee-free checking, we’ll be on the lookout for a bank that can more completely fill the hole Azlo is leaving behind.

View all updates

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Checking out your checking account options? Then you’ll love our rankings of the best banks for small-business checking.

Below, we’ve identified which banks have the best checking and what makes them stand out. We’ve chosen these banks based on their account offerings, banking fees, availability, customer reviews, and other key factors.

We found that BlueVine offers the best small-business checking overall, thanks to the lack of almost any fees, a great interest rate, and the ease of use.

But let’s take a look at all your best checking account choices.

2021’s best small-business checking accounts

Compare the top small-business checking accounts

Bank

Type

Lowest monthly fee

Min. opening deposit

Free transactions per month

Get a Bank Account

BlueVineOnline$0$0UnlimitedApply Now
KabbageOnline$0$0UnlimitedApply Now
NBKC BankOnline$0$0UnlimitedApply Now
Small Business Bank

Online

$0

$5

Unlimited

Apply Now

Axos Bank

Online

$0

$1000

Unlimited

Apply Now

Data effective 11/18/21. At publishing time, rates, fees, and requirements are current but are subject to change. Offers may not be available in all areas.

Delivering Business Advice Directly to You

Choosing the right small-business checking account

To choose the best checking account for your business, you’ll want to consider a few key factors.

First, think about features. If you prefer in-person banking, for example, you’ll want to check out how many branches are near you. If you plan to withdraw lots of cash, you’ll care more about ATM density. You might also care about customer service (what hours you can contact support and how you can get in touch) or other products a bank offers (like credit cards, business loans, and merchant services).

And if you use a certain accounting software or credit card processing service, you should make sure your bank account will integrate with it.

Basic business checking account features

Bullhorn

With pretty much any checking account, you’ll get a free debit card. You should also get access to both online and mobile banking.

You should also look for these common fees:

  • Monthly service fees
  • Transaction fees
  • Deposit fees
  • Overdraft fees
  • ATM fees

See if you get a certain number of free transactions, free cash deposits, or reimbursed ATM fees. (Most online banks offer unlimited transactions for free. Most brick-and-mortar banks have a transaction limit, after which you have to pay.)

And remember, most banks have an option to waive your monthly maintenance fees. In some cases, you have to maintain a certain minimum balance requirement or make a certain number of transactions. Of course, if that’s too much hassle, you can just go with a bank that doesn’t charge monthly fees.

Ultimately, how much you prioritize cheap fees over ATM locations will depend on how you bank. But these criteria should give you a good starting point.

BlueVine: Best overall small-business checking account

BlueVine offers the best small-business checking account we’ve found.

That’s partially because, like Kabbage, BlueVine checking accounts earn interest on balances of less than $100,000. And while BlueVine’s rates are lower than Kabbage’s (0.6% rather than 1.1%), they’re still super competitive when compared with the rates at other banks. Plus, like Kabbage, BlueVine offers free business checking, so you don’t have to make a minimum deposit to get an account, you won’t pay a monthly maintenance fee, you won’t have to maintain a minimum balance, and you don’t have to worry about transaction fees or other common banking fees.

BlueVine has other key advantages too. For example, BlueVine makes it very easy to deposit cash at any Green Dot location (often found in Walmarts, Walgreens, and other stores) for a small fee. And BlueVine gives you free checkbooks when you open an account. As you can see, it’s just an all-around solid checking account.

With all that, it’s easy to see why we say BlueVine has the best business checking account for most business owners.

Pros

Pro BulletInterest-bearing checking
Pro BulletEasy cash deposits
Pro BulletAvailability in 50 states

Cons

Con BulletNo interest on balances $100,000
Con BulletNo branch locations

Kabbage: Highest interest rate

Like the idea of making money with your checking account? Then let’s talk about Kabbage’s interest-bearing checking.

Kabbage checking accounts earn interest on most account balances (as long as they’re below $100,000). So you get money simply for having money sitting in your bank account―no work required on your part.

Now, Kabbage isn’t the only bank to offer interest-bearing checking (BlueVine, for example, does it too). But Kabbage does have the highest interest rate we’ve found for a business checking account. It lets you earn 1.1% APY (annual percentage yield)―almost double what even BlueVine gives you―so you can really maximize your earnings.

And don’t worry―Kabbage won’t cancel out your savings with big fees. Kabbage doesn’t have a monthly fee, transaction fees, or most other usual banking fees. So you’ll get to keep all those dollars you earn.

So if you’re ready for a checking account that pays you back, give Kabbage a close look. 

Pros

Pro BulletNo-fee online checking
Pro BulletInterest-bearing checking accounts
Pro BulletNationwide availability

Cons

Con BulletChecking accounts only
Con BulletNo interest on balances above $100,000

NBKC Bank: Best personal accounts

Ever feel like you have too many accounts with too many companies? NBKC Bank can help you cut through the (account) clutter with its business and personal bank accounts.

See, NBKC is the rare bank that has both a great business checking account and a great personal checking account. (None of the banks above even offer personal banking.) Both accounts come free, with no monthly fees or transaction fees.

To make things even better, the business checking account lets you add on a free money market savings account, which comes with a competitive interest rate. And the personal checking account happens to earn interest too (also at a very competitive rate). Just note that NBKC has some of the more limited support hours out there, so it might be the best choice if you regularly do nighttime banking.

Even so, NBKC’s personal and business accounts make it a great bank for people who want to keep things simple―and in the same place.

Pros

Pro BulletBusiness and personal accounts
Pro BulletFree business money market add-on
Pro BulletAvailable in 50 states

Cons

Con BulletMediocre customer reviews
Con BulletLimited support hours

Small Business Bank: Fastest account approval

Can’t wait several days to get approved for a checking account? Go with Small Business Bank.

Small Business Bank brags that it usually approves accounts either the day you apply or the day after. (Many other banks admit their process can take days or even weeks.) And even if Small Business Bank ends up requiring a little extra paperwork from you, it has nice, long customer support hours―giving you time to get everything in.

And don’t worry―Small Business Bank has more than account-opening speed going for it. It’s also quite affordable, since Small Business Bank doesn’t charge a monthly service charge or any transaction fees on its checking account (though unlike truly fee-free banks, you may encounter an nonsufficient funds fee or an incoming wire fee).

Why wait around to get approved? With Small Business Bank, you could have free business checking this time tomorrow.

Pros

Pro BulletSame-day account approval
Pro BulletLong customer support hours
Pro BulletAvailability in 50 states

Cons

Con BulletPotential fees on free account
Con BulletOutdated website and app

Axos Bank: Best for scaling businesses

Planning on growing your business a lot? Axos Bank can keep up.

Axos Bank offers checking accounts for businesses of many sizes. It offers an affordable basic checking account for small businesses that need a cheap solution, an interest-bearing account for businesses with higher account balances, and analyzed checking for commercial power-users.

You’ll also find other types of bank accounts and banking services. Because while you may just need a checking account right now, you’ll probably need more from your bank―like merchant services or treasury management―as your business grows.

So rather than switch banks as your business scales, let Axos Bank grow alongside your business.

Pros

Pro BulletVariety of business checking accounts
Pro BulletAccounts for small and large businesses
Pro BulletAvailability in 50 states

Cons

Con BulletHigh minimum opening deposits
Con BulletNegative customer reviews

We love the banks above, but they aren’t your only good options. We’ve got five more checking accounts to recommend.

Heads up though: The banks recommended above all happen to be online banks, which means you can use them no matter where your business operates. But with traditional banks, like most of our honorable mentions, your location matters. So keep in mind that you may not be able to use the banks below, depending on where you are. (That’s why we’ve found the best bank for business in your state.)

Compare honorable mention small-business checking accounts

Bank

Type

Lowest monthly fee

Min. opening deposit

Free transactions per month

Get a bank account

NorthOne
NorthOne
Online$10$50UnlimitedApply Now
Novo bank logo
Novo
Online$0$50UnlimitedApply Now
Citizens
Citizens
Traditional$0$1200Apply Now
keybank logo
KeyBank
Traditional$5 (waivable)$25200Apply Now
TD Bank
TD Bank
Traditional$10$25200Apply Now

Data effective 11/18/21. At publishing time, rates, fees, and requirements are current but are subject to change. Offers may not be available in all areas.

NorthOne: Best paid account

NorthOne

NorthOne

$10 monthly fee for checking

  • Online banking only
  • Online applications accepted

NorthOne is the first account on this list to charge a monthly fee―and an unwaivable one at that. But NorthOne packs a lot of value into that $10 monthly fee. It gives you free sub-accounts for all your financial planning needs. It offers lots of accounting software integrations. And outside of the monthly fee and wire transfer fees, NorthOne doesn’t charge other typical banking fees. Plus, it has much more robust customer support than most online banks.

So while we love the free banks above, NorthOne does give you quite a few features they don’t―and those features just might be worth paying for. 

Источник: https://www.business.org/finance/banking/best-banks-for-small-business-checking/

SunTrust Banks

American bank

SunTrust locations in the United States.

SunTrust Banks, Inc. was an American bank holding company with SunTrust Bank as its largest subsidiary and assets of US$199 billion as of March 31, 2018.[6] The bank's most direct corporate parent was established in 1891 in Atlanta, where it was headquartered.

As of September 2016, SunTrust Bank operated 1,400 bank branches and 2,160 ATMs across 11 southeastern states and Washington, D.C.[7] The bank's primary businesses included deposits, lending, credit cards, and trust and investment services. Through its various subsidiaries, the company provided corporate and investment banking, capital market services, mortgage banking, and wealth management — with nearly 24,000 employees. In 2013, it was ordered to pay $1.5 billion "to resolve claims of shoddy mortgage lending, servicing and foreclosure practices,"[8] and it reached a preliminary $968 Million settlement with the US government in 2014.[9]

In February 2019, SunTrust Banks announced its pending purchase by BB&T for $28 billion in an all-stock deal, creating the sixth largest U.S. lender, being the biggest bank deal since the 2007-2008 financial crisis.[10] On December 6, 2019, the merger between BB&T and SunTrust closed, forming Truist Financial Corporation.[11] The two banks continue to operate separately, while merging their operating systems.

History

Trust Company of Georgia

On September 21, 1891, SunTrust's most direct corporate ancestor, the Trust Company of Georgia, was granted a charter by the Georgia General Assembly as the Commercial Travelers' Savings Bank of Atlanta.[12] The founders were John M. Green, Joel Hurt, H. L. Atwater, W. A. Hansell, T. J. Hightower, J. G. Oglesby, J. D. Turner, John B. Daniel, Joseph Hirsch, Leon Lieberman, Louis Wellhouse, A. J. McBride, D. O. Dougherty, W. A. Gregg, W. W. Draper, A. C. Hook, W. T. Ashford, George W. Brooke, C. I. Branan, and C. D. Montgomery.[13]

In November 1893, it restructured as a trust company and renamed itself Trust Company of Georgia.[13]

Sun Bank

The earliest predecessor of Sun Bank was founded in 1911 as The People's National Bank in Orlando, Florida. In 1920, it became the First National Bank. In the early 1930s, during the Great Depression, the First National Bank and Trust Company failed. It was reorganized on Valentine's Day 1934 as the First National Bank at Orlando.[12] In 1973, the bank merged with other Orlando banks to become SunBanks.[14] As of December 31, 1973, it had three bank-related subsidiaries and total assets of $1.713 billion.[15]

In the early 1980s, the bank pursued further mergers, positioning itself for the state of Florida to eventually allow interstate banking. It incorporated 81-year-old Hillsboro Bank, based in Plant City, an institution with $150 million in assets and then the third-oldest state-chartered bank. It also bought Florida State Bank of Tallahassee, with which it had tried to merge with in 1973, when the economy soured.[16]

In May 1983, Sun announced a deal for Miami-based Flagship Bank Inc., with $3.3 billion in assets, that positioned Sun to be one of the Florida's largest bank holding companies. The Flagship deal was the seventh struck by Sun in less than a year.[16]

Trust Company of Georgia merger

In 1985, Trust Company of Georgia and SunBanks merged to form SunTrust Banks, Inc. The merged company was headquartered in Atlanta, and continued to operate as Trust Company Bank in Georgia and Sun Bank in Florida.

The newly merged company made its first major deal a year later, when it purchased Third National Corporation of Nashville. However, it continued to use the Third National name in Tennessee. In 1995, SunTrust retired the Trust Company Bank, Sun Bank and Third National names and rebranded all of its banking subsidiaries as SunTrust.

SunTrust purchased Crestar Financial Corporation of Richmond, Virginia in 1998, expanding the company's footprint into Virginia, Maryland, and the District of Columbia. Crestar was founded in 1865 as State Planters Bank of Commerce and Trusts in 1865, becoming United Virginia Bank in 1969 and Crestar in 1987.[17] Crestar's (and SunTrust's) earliest predecessor, Farmers Bank of Alexandria, was founded in 1811.[18]

In 1988, Suntrust was added to the S&P 500 Stock Price Index.[18]

In 2001, SunTrust purchased the institutional businesses of the Robinson-Humphrey Company, LLC. creating SunTrust Robinson-Humphrey.

The company bought Memphis-based National Commerce Financial Corporation (NCF) for $7 billion in 2004. The bank operated as National Bank of Commerce in South Carolina, Tennessee, Mississippi, Arkansas, Alabama, Georgia, Virginia, and West Virginia and as Central Carolina Bank and Trust in North Carolina. This acquisition allowed SunTrust to enter Alabama, the Carolinas, and West Virginia for the first time, and substantially increased its footprint in the other states.[19]

In 2013, the bank led a bank group that included Fifth Third Bank and Florida Community Bank that helped finance the acquirement of BEL USA, the parent company that owns DiscountMugs, by Comvest Partners, a private equity firm.[20][21][22]

In 2014, SunTrust announced it would launch a medical specialty group to work with independent medical practices.[23]

On September 16, 2014, the Atlanta Braves announced the name of their new Cobb County stadium: SunTrust Park.[24] SunTrust Park, which is expected to be unveiled in time for the first pitch of the 2017 season, will serve as the new home of the Atlanta Braves. The $1.1 billion construction project in Cobb County will include restaurants, shops, offices, a hotel, and residential spaces directly connected to the park. The Braves organization is making history by building out the development at the same time the stadium is being constructed.[25]

The Robinson-Humphrey Company

The Robinson-Humphrey Company, one of Atlanta's oldest and important companies,[26] was acquired by SunTrust in 2001. However, SunTrust had long coveted Robinson-Humphrey, reportedly having pursued it for more than 80 years.[27] Trust Company of Georgia, the oldest progenitor of SunTrust, was rebuffed in an effort to buy Robinson-Humphrey in 1917.

The firm was founded as a municipal bond shop by Roby Robinson in 1894. Robinson and William G. Humphrey, a bond trader from Toledo, Ohio, eventually incorporated The Robinson-Humphrey Co. in 1902. It blossomed into the leading investment banking firm in the South under Chairman Justus Martin Jr., who helped broaden its ties to Atlanta corporations, European clients and the firm's wealthy families who were brokerage clients.[27] Martin was at the helm when Robinson-Humphrey commissioned the building of the bold Atlanta Financial Center in city's tony Buckhead business district in the early 1980s.[28]

In 1982, Martin sold Robinson-Humphrey to American Express, which was then run by another Atlanta deal maker and fellow Georgia Tech grad, James Robinson (no relation to Roby Robinson). Under AmEx, the firm operated as part of Shearson Lehman Brothers Inc.[26] In 1993, deal maker Sandy Weill orchestrated a deal for Shearson's retail division, and Robinson-Humphrey was included in the sale, using the Smith Barney unit of Primerica Corp.[26]

Truist Financial Corporation

On February 7, 2019, BB&T Corporation reported that it would acquire SunTrust to create the sixth-largest US bank, with assets of $442 billion and market capitalization around $66 billion. BB&T will be the nominal survivor, but the merged bank will be headquartered in Charlotte under a new name, Truist Financial Corporation. However, Truist will retain significant operations in Atlanta.[10][29][30] It was subsequently announced that Atlanta will be Truist's headquarters for wholesale banking, while Winston-Salem will be the headquarters for community banking. This could mean more jobs in both cities.[31] SunTrust had been the last major bank headquartered in Atlanta, which had been the South's financial capital for much of the 20th century.

The merger closed on December 6, 2019. On that day, SunTrust Bank merged into BB&T's banking unit, Branch Banking and Trust Company, forming Truist Bank as the merged company's legal banking entity. However, the merged bank will continue to operate under the BB&T and SunTrust names until the two banks' systems are combined, a process that could take up to two years. Customers of either company will be able to use the other's ATMs without charge during the process.[32]

Pre-Merger operations and structure

The company operated three primary business units: Consumer Banking & Private Wealth Management, Wholesale Banking, and Mortgage.[33]

Business Line Percentage of Revenue
Consumer Banking 32%
Corporate & Investment Banking 20%
Commercial & Business Banking 14%
Private Wealth Management 12%
Mortgage 11%
Consumer Lending 8%
Commercial Real Estate 3%

As of September 2016, SunTrust Bank operates 1,400 bank branches and 2,160 ATMs across including Alabama, Arkansas, Florida, Georgia, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, West Virginia, and Washington, D.C.[7] The bank announced in 2018 that it will close its last five West Virginia branches, all in Kroger stores.[34]

Executives

Individual Position Years
William H. Rogers Jr.Chairman, President and CEO 2011 – 2019
James M. Wells IIIChairman, President and CEO 2007 – 2011
L. Phillip HumannChairman, President and CEO 1998 – 2007
James B. "Jimmy" Williams Chairman, President and CEO 1990 – 1998
Robert M. Strickland Chairman/SunTrust; president of Trust Company in 1973 1978 – 1990

On April 21, 2011, William H. Rogers Jr., began a transition into the CEO role previously held by Jim Wells, who retired December 31, 2011. Formerly SunTrust's COO, Rogers assumed the title of CEO on June 1, 2011. Rogers had been named President in 2008.[35] At that time, the current Chief Financial Officer (CFO) is Aleem Gillani was named in April 2011.[36]

In 2015 and 2016, two corporate treasurers have gone on to become CFOs at large regional banks, including Kevin Blair at Zions Bancorporation and Paul Burdiss at Synovus,[37][38] and a unit strategy head, Inder M. Singh, became CFO at IT firm Unisys.[39]

Relationship with Coca-Cola

SunTrust had a long-standing relationship with The Coca-Cola Company. In 1919, Ernest Woodruff, president of the Trust Company from 1904 to 1922, and W. C. Bradley bought The Coca-Cola Company for $25 million and restructured. The Trust Company of Georgia helped underwrite the initial public offering, accepting shares of Coke in exchange for its services.[40] Four years later, his son, Robert W. Woodruff, was elected Coca-Cola's president, a title he would hold until 1954 and was a board member until 1984.

As a result, SunTrust owned 48.3 million shares (3.58%) of Coke as of 2006, which had a GAAP cost basis of $110,000. In addition, the original copy of the formula for Coca-Cola was stored in a safe deposit box of an eventual SunTrust location in Atlanta (originally a Trust Company Bank location) from 1925 to 2011.[41] It was eventually moved to a purpose built vault in the World of Coca-Cola, also in Atlanta.[42]

Over the years, Coca-Cola executives would sit on SunTrust's board of directors[43] and SunTrust execs would sit on Coca-Cola's board.[44]

SunTrust started to divest Coke shares in May 2007, when it sold 4.5 million, or 9% of its position.[45] In 2008, the bank sold another 10 million shares, donated 3.6 million to SunTrust's charitable foundation, and crafted a plan to sell more shares in 2014 and 2015.[46]

However, in September 2012, SunTrust sold all of its Coke shares at the behest of its primary regulator, the Federal Reserve.[47] SunTrust was forced to resubmit its capital plan – known as Comprehensive Capital Analysis and Review (CCAR) – after it failed part of the stress test in March 2012. The Coke shares (or any stock holding) held by SunTrust would weigh on the bank's capital ratio under new capital rules within Basel III. Thus, SunTrust decided to accelerate its plan and sold the Coke shares earlier than expected.[48]

2014 National Mortgage Settlement

In 2014, the Federal government together with state attorneys general in 49 states and the District of Columbia reached a settlement requiring SunTrust Mortgage, Inc., to provide $500 million in various forms of relief to mortgage borrowers. The United States District Court for the District of Columbia entered the Consent Order on September 30, 2014. The consent order addressed SunTrust's alleged misconduct regarding its mortgage servicing and foreclosure practices. SunTrust was also required to create a 40 million dollar fund for the approximately 45,000 SunTrust borrowers who were foreclosed upon between January 1, 2008 and December 31, 2013. In addition, SunTrust was required to adhere to significant new homeowner protections. The consent order required that SunTrust follow the servicing standards set up by the 2012 National Mortgage Settlement (NMS) with the five largest banks.

Controversies

In September 2015 SunTrust laid off one hundred IT professionals with a controversial severance agreement clause by SunTrust that required laid-off employees to be available to help without pay for a period of two years. On October, 23rd Suntrust reversed course and removed the clause: "to make myself reasonably available to SunTrust regarding matters in which I have been involved in the course of my employment with SunTrust and/or about which I have knowledge as a result of my employment with SunTrust."[49]

Buildings and branches

Located at 200 South Orange Avenue, The SunTrust Center is the tallest building in downtown Orlando, Florida. The 35 story, 650,000 sq ft (60,000 m2) building was constructed in 1988 at a cost of approximately $100 million.[citation needed] It is constructed of reinforced concrete and granite with marble finishes and features 17 elevators.

  • Fifteenth and New York Branch in Washington, D.C. (2018)

See also

References

  1. ^"SunTrust Corporate Profile". Yahoo! Finance. Retrieved 2019-02-26.
  2. ^ ab"SunTrust Corporate Profile". Yahoo! Finance. Retrieved 2019-02-26.
  3. ^"Corporate Profile". SunTrust.com.
  4. ^"STI Annual Balance Sheet". MarketWatch. Retrieved 2019-02-26.
  5. ^"SunTrust Corporate Profile". Yahoo! Finance. Retrieved 2019-02-26.
  6. ^"FDIC Institution Directory: SunTrust Bank". 2.fdic.gov. Archived from the original on 2010-06-13. Retrieved 2017-08-10.
  7. ^ ab"SunTrust Corporate Profile". SunTrust.com. Retrieved 23 September 2016.
  8. ^Cumming, Chris (October 11, 2013). "SunTrust to Pay $1.5B to Settle Mortgage Claims". American Banker. 178 (F340). p. 13. Retrieved August 7, 2017 – via EBSCO.
  9. ^Zibel, Alan; Johnson, Andrew R. (June 17, 2014). "U.S. Reaches $968 Million Mortgage Settlement With SunTrust". The Wall Street Journal. Retrieved October 27, 2018.
  10. ^ ab"BB&T and Suntrust to combine in an all-stock merger of $66 billion". CNBC. Reuters. February 7, 2019. Retrieved February 7, 2019.
  11. ^"BB&T-SunTrust merger creating Truist Financial set to close at midnight". www.bizjournals.com. Retrieved 2019-12-07.
  12. ^ ab"Historical Highlight". SunTrust.com. Retrieved 23 September 2016.
  13. ^ abGarrett, Franklin M. (1969). Atlanta and environs : A Chronicle of Its People and Events, 1880s-1930s. Athens, Ga.: University of Georgia Press. p. 235. ISBN .
  14. ^"Orlando City Planning"(PDF). CityofOrlando.net. Retrieved 23 September 2016.
  15. ^"Sun Bank Earnings Reported". Lakeland Ledger. February 12, 1975. Retrieved 23 September 2016.
  16. ^ abStuart, Reginald (May 16, 1983). "FLORIDA'S BANK-MERGER SPREE". The New York Times. Retrieved 23 September 2016.
  17. ^"Institution History for TENTH & MAIN BRANCH (47920)". Federal Financial Institutions Examination Council.
  18. ^ ab"Page Not Found - SunTrust"(PDF). Suntrust.com. Archived from the original(PDF) on 2015-04-07. Retrieved 2015-04-19.
  19. ^"SunTrust to buy National Commerce Financial". Atlanta Business Chronicle. 2004-05-09. p. 1. Retrieved 2007-04-08.
  20. ^"Comvest Invests in BEL USA, Adds On Branders.com". PitchBook. 17 March 2014. Retrieved 30 December 2014.
  21. ^Dunford, Thomas (24 December 2013). "The Morning Leverage: What's Waiting in Private Equity's Stocking?". The Wall Street Journal. Retrieved 30 December 2014.
  22. ^"Comvest Investment Partners IV, L.P.; Amin Rahman Ramjee". Federal Trade Commission. 20 December 2013. Retrieved 30 December 2014.
  23. ^Correia, Margarida. "SunTrust Private Wealth Management Launches Medical Specialty Group". Bank Investment Consultant. Retrieved 27 June 2014.
  24. ^Tucker, Tim (16 September 2014). "Braves name their new stadium: SunTrust Park". ajc.com. Retrieved 26 May 2015.
  25. ^Riley, Cindy (13 May 2015). "SunTrust Park to House Atlanta Braves in 2017". constructionequipmentguide.com. Retrieved 26 May 2015.
  26. ^ abcMollenkamp, Carrick and Deogun, Nikhil. "Citigroup to Sell Capital-Markets Unit Of Robinson-Humphrey to SunTrust". The Wall Street Journal. Retrieved 8 February 2019.CS1 maint: multiple names: authors list (link)
  27. ^ abMurray, Brendan. "R-H expansion plans include Boston, London - Atlanta Business Chronicle". webcache.googleusercontent.com. Atlanta Business Chronicle. Retrieved 8 February 2019.
  28. ^"Justus Carlile Martin Jr.-Obituary". The Atlanta Constitution. Retrieved 8 February 2019.
  29. ^Richard Craver (February 11, 2019). "New name for BB&T-SunTrust may help deliver new identity to customers, marketplace". Winston-Salem Journal.
  30. ^Allison Prang (June 12, 2019). "Truist Financial Is New Name for Combined BB&T, SunTrust". The Wall Street Journal.
  31. ^Craver, Richard (February 10, 2019). "BB&T headquarters move to Charlotte stings but silver lining could be more local jobs". Winston-Salem Journal. Retrieved February 10, 2019.
  32. ^Danielle Chemtob (December 9, 2019). "BB&T, SunTrust finish merger to become Truist in 'seamless' change. Here's what's next". The Charlotte Observer.
  33. ^ ab"Barclays Global Presentation"(PDF). SunTrust.com. Retrieved 23 September 2016.
  34. ^Garland, Max (March 4, 2018). "SunTrust Banks to close five remaining WV branches". Charleston Gazette-Mail. Retrieved April 3, 2018.
  35. ^"Archived copy". Archived from the original on 2011-04-26. Retrieved 2011-07-22.CS1 maint: archived copy as title (link)
  36. ^"Aleem Gillani". Suntrust.com. Retrieved 30 September 2016.
  37. ^Adams, Tony (July 11, 2016). "Synovus taps SunTrust executive for chief financial officer". ledger-enquirer.com. Retrieved 30 September 2016.
  38. ^Nemeroff, Evan (March 20, 2015). "Zions Taps SunTrust Treasurer to Replace Retiring Chief Financial Officer". American Banker. Retrieved 30 September 2016.
  39. ^"Chief Financial Officer (CFO) Janet Haugen to Retire from Unisys; Company Names Inder M. Singh to Succeed Haugen as CFO". Prnewswire.com. Retrieved 30 September 2016.
  40. ^Borowsky, Bruce (2005-03-11). "SunTrust Banks (Trust Company Bank)". New Georgia Encyclopedia. Georgia Humanities Council. Retrieved 2006-12-10.
  41. ^Coporate. "Coca-Cola Moves Its Secret Formula to The World of Coca-Cola". Coca-Cola Journey. Coca-Cola Company. Retrieved 28 June 2016.
  42. ^Stafford, Leon. "Coke hides its secret formula in plain sight in World of Coca-Cola move". The Atlanta Journal-Constitution. The Atlanta Journal-Constitution. Retrieved 28 June 2016.
  43. ^"Officers & Directors". SunTrust Banks, Inc. Archived from the original on 2017-04-14. Retrieved 2007-04-08.
  44. ^"Board Of Directors". The Coca-Cola Company. Retrieved 2007-04-08.
  45. ^"SunTrust Selling Coke". USAToday.com. May 15, 2007. Retrieved 23 September 2016.
  46. ^Gross, Daniel (2008-07-23). "DESPERATE BANKS SELLING OFF HARD ASSETS". Newsweek. Retrieved 23 September 2016.
  47. ^MATTHIAS RIEKER and SAABIRA CHAUDHURI (October 22, 2012). "SunTrust Profit Soars on Coke Stock Sale". Wall Street Journal. Retrieved 23 September 2016.
  48. ^Benoit, David (September 6, 2012). "SunTrust Sells Coke Shares and Bad Loans". Wall Street Journal. Retrieved 23 September 2016.
  49. ^Thibodeau, Patrick. "In turnabout, SunTrust removes contentious severance clause". Computerworld.com. Retrieved 2017-08-10.

External links

Источник: https://en.wikipedia.org/wiki/SunTrust_Banks

Open a new SunTrust Business Checking Account.

  • No balance requirement. Waived monthly maintenance fee for the first 12 statement cycles. Make 5 debit or credit transactions per month to waive the monthly maintenance fee 1
  • $1,000 minimum daily collected balance to waive the monthly maintenance fee 1
  • $20,000 minimum daily collected balance in your main Business Advantage Plus account OR $20,000 combined minimum daily collected balance in all three linked Business Advantage Plus accounts 1
  • 50 items/transactions included2
  • 150 items/transactions included2
  • 500 banking transactions per statement cycle from up to three accounts1,2
  • $2,000 cash processing included3
  • $5,000 cash processing included3
  • $10,000 cash deposited per month combined from up to three accounts1,3
  • 10% Loyalty Cash Bonus when you redeem cash back from your SunTrust Business Credit Card directly into a SunTrust Business deposit account4,5
  • 10% Loyalty Cash Bonus when you redeem cash back from your SunTrust Business Credit Card directly into a SunTrust Business deposit account4,5
  • 25% Loyalty Cash Bonus when you redeem cash back from your SunTrust Business Credit Card directly into a SunTrust Business deposit account4,5
  • A personal Advantage Checking account for one business owner included7
  • A personal Advantage Checking account for one business owner included7
  • Two additional SunTrust Business Advantage Plus Accounts included6
  • A personal Advantage Checking account for one business owner included7
  • $5 discount on Online Payroll Monthly Maintenance Fee8

Open Simple Business Checking

Open Primary Business Checking

Open SunTrust Business Advantage Plus

Источник: https://www.suntrust.com/lp/new-small-business-checking-account

What Do I Need to Open a Business Bank Account?

Each stage of building a business presents unique challenges. Once you finally have money coming in, you need to decide where you're going to keep it. For most companies from large corporations down to sole proprietorships, a business bank account is essential. But there are a few things you need to know before you can open one.

Below, we'll explore why you should open a business bank account, what documents you need, and how to decide which account is right for your company.


Overview: Why should you open a business bank account?

Having a business bank account can make your life a lot simpler. Here are five reasons why.

1. Protect your personal funds

If you use a single account for your personal and business finances, your personal savings could be at risk in a lawsuit. That means if someone sues your business and the court awards them compensation, your personal money could be fair game, even if the way you earned it had nothing to do with your business at all. A separate small business banking account protects your personal savings in these situations.

2. Avoid tax issues

Maintaining a separate business bank account makes it easier to track business earnings and expenditures. This can save you a lot of headaches when you go to file your taxes and it can help you avoid problems with the IRS. Separating your personal and business finances indicates to the IRS that you're running a legitimate business and not a hobby business, which is not permitted business tax deductions.

3. Accept credit cards

You cannot accept debit or credit card transactions through a personal bank account. If you have customers that habitually pay with cards, you need a business bank account to process them. Otherwise, you must limit your customers to paying with cash or a check, and that could deter some from working with you.

4. Give others access to company funds

When you're running a partnership or corporation, you probably won't be the only person who needs to make a business purchase or access the company's funds. You don't want your business associates using your personal bank accounts, so a business bank account for an LLC or corporation is a better arrangement.

5. Maintain a professional appearance

Your company will appear more professional if you can write your vendor checks from an LLC bank account rather than from a personal account. Customers may also feel more secure writing checks to a business name than to you as an individual.


What do I need to open a business bank account?

These are some of the most common requirements to open a business bank account.

1. Employer Identification Number (EIN) or Social Security Number (SSN)

Most banks require business customers to provide their employer identification number (EIN) in order to open a business checking account or savings account, though some may permit sole proprietors to open a small business account with just their Social Security Number.

The EIN Assistant page of the IRS website.

You can obtain an employer identification number (EIN) for various types of businesses by filling out a simple form on the IRS website. Source: IRS.gov.

If you don't have an EIN, you can obtain one for free by filling out the application on the IRS's website as long as you have a valid Social Security Number and your business is operating in the United States or its territories.

2. Personal identification

Just as when you open a personal bank account, your bank will want to see a driver's license, passport, or another form of state-issued identification to prove you are who you say you are.

3. Business formation documents

Your bank will need a copy of your formation documents. For limited liability companies (LLCs), this means the articles of organization; for a corporation, it's the articles of incorporation. These documents list some basic information about your company, including its management structure, who is responsible for managing the finances, and how your business will operate.

4. Ownership agreements

If you're running a partnership or a corporation, you and the other owners will need to create a partnership or operating agreement. This will outline each owner's rights and responsibilities as well as how the business will operate.

5. Business license

Your bank needs proof that your business has the appropriate licenses before it will enable you to open a business bank account. The requirements to obtain a business license vary depending on where you live, so do some research to find out what's required in your area.

6. Certificate of assumed name

If the name you use to advertise your business to your customers is different from the company's legal name, you will need a certificate of assumed name, also known as a doing-business-as (DBA) name. Your bank will need a copy of this as well when you open your account.

7. Monthly credit card revenue

Businesses interested in opening a merchant services account to process debit and credit card transactions should provide their bank with details of their average monthly credit card revenue. Startups may not have any prior credit card revenue but they should have an estimate of how much they expect.


How to open a business bank account

When you're ready to open a business bank account, here's what you need to do.

1. Decide which accounts you need

There are several types of business bank accounts and your company may need more than one. The most common are:

  • Business checking account: Similar to a personal checking account, business checking accounts are designed for receiving payments and spending. This is where you keep your working capital. It's possible to earn interest on these funds, but interest-bearing business checking accounts are rare.
  • Business savings account: This is where you put money your company doesn't intend to spend in the near future. Savings account funds earn interest over time, but they have more limitations on how you can access your funds.
  • Merchant services account: A merchant services account is necessary if you plan to accept credit and debit card transactions.

2. Select a bank

Once you know which types of accounts you need, you need to find the right bank. Keep the following things in mind:

  • Account variety: Obviously, you need a bank that can provide you the basic business bank accounts you need right now, but you should also try to anticipate your future needs. If you think you may want a business credit card or business loan in the future, make sure your bank offers these as well.
  • Fees: Business bank accounts may have monthly fees as well as per-transaction fees if you exceed a certain number of transactions in a month. Other fees to watch for include cash deposit fees, ATM fees, and wire transfer fees. Think about which of these services your bank uses and how these fees could affect your profits.
  • Interest rates: Interest rates matter most on business savings accounts, but some business checking accounts offer interest as well. A higher rate is better, but you have to weigh this alongside the other factors listed here.
  • Branch and ATM network: Whether you choose an online or brick-and-mortar bank, make sure it has a large ATM network with fee-free ATMs in your area if you believe you'll need to access cash. Brick-and-mortar banks are a better fit for those who value personalized customer service, though they often have higher fees than online banks.
  • Account management tools: A good business bank account should enable you to view your balance, pay bills, and move funds around through an online account or a user-friendly mobile app. This also makes bank reconciliation much easier.

3. Gather the required documents

Now that you know which business bank accounts you need and which bank you'd like to work with, you should gather all the important documents discussed above so you're ready to apply. If you have any questions about anything else you might need in order to apply, reach out to the bank to ask.

4. Apply for the account

Many banks enable you to apply for a business bank account online, though a few may require you to visit a branch in person to do so. Applying shouldn't take too long as long as you have all your paperwork in order.

If you run into any problems when applying online or you have any questions about the application process, don't hesitate to reach out to the bank. You want to make sure everything's done correctly so you don't run into issues with your bank or the IRS later.

5. Deposit funds and start using your account

Once your account is set up, you can deposit funds and begin using it just like you would any other bank account. Your bank may require you to make a certain minimum deposit when you set up your account. This can be cash or money you transfer from another bank account via electronic or wire transfer. You could also write a check.


3 tips when setting up a business bank account

Keep the following tips in mind when opening a business banking account.

1. Compare accounts at several banks

It's tempting to open a business bank account with the bank where you have your personal accounts because then you can manage your money all in one place, but this isn't always your best option. Compare bank accounts and fees from several banks and make your choice based on which account is best for your business, even if that's an account at a separate bank. You can always transfer funds from one bank to the other as needed.

A screenshot showing banking tiers offered at U.S. Bank.

Consider choosing U.S. Bank or a similar financial institution that offers several tiers of business bank accounts so you can upgrade as your business grows. Source: U.S. Bank.

2. Make sure your business bank account leaves you room to grow

Some business bank accounts impose transaction limits and charge you extra fees for exceeding them. This can prove costly if you're constantly bumping up against this limit. Review your business budget and anticipate how your company's future growth could affect how much you pay in fees every month.

If you think your current business bank account could become restrictive, check to see if the bank has another account that would provide you with the additional free transactions or other services you need.

3. Save time with accounting software integration

Some business bank accounts integrate with popular accounting software. This can save you time when it comes to managing your business finances and creating expense reports and balance sheets because you won't have to manually look up information in your business bank account and enter this into your accounting software.


The bottom line

A business bank account is a must if you're serious about growing your product or service into a profitable company. There's a lot to think about when comparing the options available to you, but if you follow the steps above, you should be able to find the perfect fit for your business.

Источник: https://www.fool.com/the-blueprint/what-do-i-need-to-open-a-business-bank-account/

: Suntrust bank business checking

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INTENSE BACK WORKOUT AT HOME

Best Banks for Small-Business Checking 2021

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Published on November 10, 2021

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Last Updated: 6 days ago

BlueVine is back to banking as usual, which means it’s also back in our number-one spot. We do need to point out that BlueVine lowered the interest rate on its accounts from 1% to 0.6%. But that’s still a great rate. Between that and everything else BlueVine has to offer, it remains our favorite business checking account.

Updated: 3 weeks ago

We’ve added Kabbage to our rankings as our new top bank for business checking. It’s displacing BlueVine, which has temporarily stopped extending new bank accounts. Once BlueVine resumes normal banking, we’ll update this article and our rankings.

Updated: several months ago

Azlo, our favorite checking account for freelancers, has begun shutting down (a disappointing loss). We’ve removed it from our recommendations and added Novo (another online bank) to our top five instead. 

And what if you’re looking for Azlo bank alternatives? Unfortunately, none of our remaining picks offer the same excellent freelancing features Azlo did (like free, easy invoicing). So while we’ve still got some great choices for fee-free checking, we’ll be on the lookout for a bank that can more completely fill the hole Azlo is leaving behind.

View all updates

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Checking out your checking account options? Then you’ll love our rankings of the best banks for small-business checking.

Below, we’ve identified which banks have the best checking and what makes them stand out. We’ve chosen these banks based on their account offerings, banking fees, availability, customer reviews, and other key factors.

We found that BlueVine offers the best small-business checking overall, thanks to the lack of almost any fees, a great interest rate, and the ease of use.

But let’s take a look at all your best checking account choices.

2021’s best small-business checking accounts

Compare the top small-business checking accounts

Bank

Type

Lowest monthly fee

Min. opening deposit

Free transactions per month

Get a Bank Account

BlueVineOnline$0$0UnlimitedApply Now
KabbageOnline$0$0UnlimitedApply Now
NBKC BankOnline$0$0UnlimitedApply Now
Small Business Bank

Online

$0

$5

Unlimited

Apply Now

Axos Bank

Online

$0

$1000

Unlimited

Apply Now

Data effective 11/18/21. At publishing time, rates, fees, and requirements are current but are subject to change. Offers may not be available in all areas.

Delivering Business Advice Directly to You

Choosing the right small-business checking account

To choose the best checking account for your business, you’ll want to consider a few key factors.

First, think about features. If you prefer in-person banking, for example, you’ll want to check out how many branches are near you. If you plan to withdraw lots of cash, you’ll care more about ATM suntrust bank business checking. You might also care about customer service (what hours you can contact support and how you can get in touch) con edison pay your bill other products a bank offers (like credit cards, business loans, and merchant services).

And if you use a certain accounting software or credit card processing service, you should make sure your bank account will integrate with it.

Basic business checking account features

Bullhorn

With pretty much any checking account, you’ll get a free debit card. You should also get access to both online and mobile banking.

You should also look for these common fees:

  • Monthly service fees
  • Transaction fees
  • Deposit fees
  • Overdraft fees
  • ATM fees

See if you get a certain number of free transactions, free cash deposits, or reimbursed ATM fees. (Most online banks offer unlimited transactions for free. Most brick-and-mortar banks have a transaction limit, after which you have to pay.)

And remember, most banks have an option to waive your monthly maintenance fees. In some cases, you have to maintain a certain minimum balance requirement or make a certain number of transactions. Of course, if that’s too much hassle, you can just go with a bank that doesn’t charge monthly fees.

Ultimately, how much you prioritize cheap fees over ATM locations will depend on how you bank. But these criteria should give you a good starting point.

BlueVine: Best overall small-business checking account

BlueVine offers the best small-business checking account we’ve found.

That’s partially because, like Kabbage, BlueVine checking accounts earn interest on balances of less than $100,000. And while BlueVine’s rates are lower than Kabbage’s (0.6% rather than 1.1%), they’re still super competitive when compared with the rates at other banks. Plus, like Kabbage, BlueVine offers free business checking, so you don’t have to make a minimum deposit to get an account, you won’t pay a monthly maintenance fee, you won’t have to maintain a minimum balance, and you don’t have to worry about transaction fees or other common banking fees.

BlueVine has other key advantages too. For example, BlueVine makes it very easy to deposit cash at any Green Dot location (often found in Walmarts, Walgreens, and other stores) for a small fee. And BlueVine gives you free checkbooks when you open an account. As you can see, it’s just an all-around solid checking account.

With all that, it’s easy to see why we say BlueVine has the best business checking account for most business owners.

Pros

Pro BulletInterest-bearing checking
Pro BulletEasy cash deposits
Pro BulletAvailability in 50 states

Cons

Con BulletNo interest on balances $100,000
Con <a href=Route 66 usa pantip src="data:image/svg+xml;base64,PHN2ZyB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciIHdpZHRoPSIyNCIgaGVpZ2h0PSIyNCIgdmlld0JveD0iMCAwIDI0IDI0Ij4KICA8cGF0aCBmaWxsPSIjRjM0NTQ2IiBmaWxsLXJ1bGU9ImV2ZW5vZGQiIGQ9Ik02LDEwLjggTDYsMTMuMiBMMTgsMTMuMiBMMTgsMTAuOCBMNiwxMC44IFogTTEyLDAgQzUuMzc2LDAgMCw1LjM3NiAwLDEyIEMwLDE4LjYyNCA1LjM3NiwyNCAxMiwyNCBDMTguNjI0LDI0IDI0LDE4LjYyNCAyNCwxMiBDMjQsNS4zNzYgMTguNjI0LDAgMTIsMCBaIE0xMiwyMS42IEM2LjcwOCwyMS42IDIuNCwxNy4yOTIgMi40LDEyIEMyLjQsNi43MDggNi43MDgsMi40IDEyLDIuNCBDMTcuMjkyLDIuNCAyMS42LDYuNzA4IDIxLjYsMTIgQzIxLjYsMTcuMjkyIDE3LjI5MiwyMS42IDEyLDIxLjYgWiIvPgo8L3N2Zz4K">No branch locations

Kabbage: Highest interest rate

Like the idea of making money with your checking account? Then let’s talk about Kabbage’s interest-bearing checking.

Kabbage checking accounts earn interest on most account balances (as long as they’re below $100,000). So you get money simply for having money sitting in your bank account―no work required on your part.

Now, Kabbage isn’t the only bank to offer interest-bearing checking how to close my bank of america savings account online, for example, does it too). But Kabbage does have the highest interest rate we’ve found for a business checking account. It lets you earn 1.1% APY (annual percentage yield)―almost double what even BlueVine how to order new checks from wells fargo online you―so you can really maximize your earnings.

And don’t worry―Kabbage won’t cancel out your savings with big fees. Kabbage doesn’t have a monthly fee, transaction fees, or most other usual banking fees. So you’ll get to keep all those dollars you earn.

So if you’re ready for a checking account that pays you back, give Kabbage a close look. 

Pros

Pro BulletNo-fee online checking
Pro BulletInterest-bearing checking accounts
Pro BulletNationwide availability

Cons

Con BulletChecking accounts only
Con BulletNo interest on balances above $100,000

NBKC Bank: Best personal accounts

Ever feel like you have too many accounts with too many companies? NBKC Bank can help you cut through the (account) clutter with its business and personal bank accounts.

See, NBKC is the rare bank that has both a great business checking account and a great personal checking account. (None of the banks above even offer personal banking.) Both accounts come free, with no monthly fees or transaction fees.

To make things even better, the business checking account lets you add on a free money market savings account, which comes with a competitive interest rate. And the personal checking account happens to earn interest too (also at a very competitive rate). Just note that NBKC has some of the more limited hand sanitizer on amazon hours out there, so it might be the best choice if you regularly do nighttime banking.

Even so, NBKC’s personal and business accounts make it a great bank for people who want to keep things simple―and in the same place.

Pros

Pro BulletBusiness and personal accounts
Pro BulletFree business money market add-on
Pro BulletAvailable in 50 states

Cons

Con BulletMediocre customer reviews
Con BulletLimited support hours

Small Business Bank: Fastest account approval

Can’t wait several days to get approved for a checking account? Go with Small Business Bank.

Small Business Bank brags that it usually approves accounts either the day you apply or the day after. (Many other banks admit their process can take days or even weeks.) And even if Small Business Bank ends up requiring a little extra paperwork from you, it has nice, long customer support hours―giving you time to get everything in.

And don’t worry―Small Business Bank has more than account-opening speed going for it. It’s also quite affordable, since Small Business Bank doesn’t charge a monthly service charge or any transaction fees on its checking account (though unlike truly fee-free banks, you may encounter an nonsufficient funds fee or an incoming wire fee).

Why wait around to get approved? With Small Business Bank, you could have free business checking this time tomorrow.

Pros

Pro BulletSame-day account approval
Pro BulletLong customer support hours
Pro BulletAvailability in 50 states

Cons

Con BulletPotential fees on free account
Con BulletOutdated website and app

Axos Bank: Best for scaling businesses

Planning on growing your business a lot? Axos Bank can keep up.

Axos Bank offers checking accounts for businesses of many sizes. It offers an affordable basic checking account for small businesses that need a cheap solution, an interest-bearing account for businesses with higher account balances, and analyzed checking for commercial power-users.

You’ll also find other types of bank accounts and banking services. Because while you may just need a checking account right now, you’ll probably need more from your bank―like merchant services or treasury management―as your business grows.

So rather than switch banks as your business scales, let Axos Bank grow alongside your business.

Pros

Pro BulletVariety of business checking accounts
Pro BulletAccounts for small and large businesses
Pro BulletAvailability in 50 states

Cons

Con BulletHigh minimum opening deposits
Con BulletNegative customer reviews

We love the banks above, but they aren’t your only good options. We’ve got five more checking accounts to recommend.

Heads up though: The banks recommended above all happen to be online banks, which means you can use them no matter where your business operates. But with traditional banks, like most of our honorable mentions, your location matters. So keep in mind that you may not be able to use the banks below, depending on where you are. (That’s why we’ve found the best bank for business in your state.)

Compare honorable mention small-business checking accounts

Bank

Type

Lowest monthly fee

Min. opening deposit

Free transactions per month

Get a bank account

NorthOne
NorthOne
Online$10$50UnlimitedApply Now
Novo bank logo
Novo
Online$0$50UnlimitedApply Now
Citizens
Citizens
Traditional$0$1200Apply Now
keybank logo
KeyBank
Traditional$5 (waivable)$25200Apply Now
TD Bank
TD Bank
Traditional$10$25200Apply Now

Data effective 11/18/21. At publishing time, rates, fees, and requirements are current but are subject to change. Offers may not be available in all areas.

NorthOne: Best paid account

NorthOne

NorthOne

$10 monthly fee for checking

  • Online banking only
  • Online applications accepted

NorthOne is the first account on this list to charge a monthly fee―and an unwaivable one at that. But NorthOne packs a lot of value into that $10 monthly fee. It gives you free sub-accounts for all your financial planning needs. It offers lots of accounting software integrations. And outside of the monthly fee and wire transfer fees, NorthOne doesn’t charge other typical banking fees. Plus, it has much more robust customer support than most online banks.

So while we love the free banks above, NorthOne does give you quite a few features they don’t―and those features just might be worth paying for. 

Источник: https://www.business.org/finance/banking/best-banks-for-small-business-checking/
SunTrust Small Business …

https://www.suntrust.com/smallbusiness-banking/business-banking/compare-business

SmallBusiness Online MENU. Mortgage Spring Newsletter MENU. SunTrustBusiness Online MENU. Advantage Checking Combo Offer MENU. mma-offer MENU. Mortgage Summer Newsletter MENU. Open Business Banking Checking Account MENU. Open SmallBusiness Checking Account Jan200 MENU. combo MENU. checking-200 MENU. welcome2 MENU. open-smallbusiness …

SunTrust Online Banking

https://onlinebanking.suntrust.com

SunTrust Online Banking

$200 Business Checking Account Bonus SunTrust

https://www.suntrust.com/lp/open-smallbusiness-checkingaccount

* Terms and Conditions for the SunTrust “Q2 2021 SmallBusiness Checking Offer”: SB21Q2CHECKING To be eligible to participate in the promotion: You must be a new SunTrustbusiness checking client. To be considered a new business checking client, the business cannot have an existing SunTrustbusiness checking account with the same Taxpayer …

Open a new SunTrust Business Checking Account

SunTrust Banks

American bank

SunTrust locations in the United States.

SunTrust Banks, Inc. was an American bank holding company with SunTrust Bank as its largest subsidiary and assets of US$199 billion as of March 31, 2018.[6] The bank's most direct corporate parent was established in 1891 in Atlanta, where it was headquartered.

As of September 2016, SunTrust Bank operated 1,400 bank branches and 2,160 ATMs across 11 southeastern states and Washington, D.C.[7] The bank's primary businesses included deposits, lending, credit cards, and trust and investment services. Through its various subsidiaries, the company provided corporate and investment banking, capital market services, mortgage banking, discover online banking bonus wealth management — with nearly 24,000 employees. In 2013, it was ordered to pay $1.5 billion "to resolve claims of shoddy mortgage lending, servicing and foreclosure practices,"[8] and it reached a preliminary $968 Million settlement with the US government in 2014.[9]

In February 2019, SunTrust Banks announced its pending purchase by BB&T for $28 billion in an all-stock deal, creating the sixth largest U.S. lender, being the biggest bank deal since the 2007-2008 financial crisis.[10] On December 6, 2019, the merger between BB&T and SunTrust closed, forming Truist Financial Corporation.[11] The two banks continue to operate separately, while merging their operating systems.

History

Trust Company of Georgia

On September 21, 1891, SunTrust's most direct corporate ancestor, the Trust Company of Georgia, was granted a charter by suntrust bank business checking Georgia General Assembly as the Commercial Travelers' Savings Bank of Atlanta.[12] The founders were John M. Green, Joel Hurt, H. L. Atwater, W. A. Hansell, T. J. Hightower, J. G. Oglesby, J. D. Turner, John B. Daniel, Joseph Hirsch, Leon Lieberman, Louis Wellhouse, A. J. McBride, D. O. Dougherty, W. A. Gregg, W. W. Draper, A. C. Hook, W. T. Ashford, George W. Brooke, C. I. Branan, and C. D. Montgomery.[13]

In November 1893, it restructured as a trust company and renamed itself Trust Company of Georgia.[13]

Sun Bank

The earliest predecessor of Sun Bank was founded in 1911 as The People's National Bank in Orlando, Florida. In 1920, it became the First National Bank. In the early 1930s, during the Great Depression, the First National Bank and Trust Company failed. It was reorganized on Valentine's Day 1934 as the First National Bank at Orlando.[12] In 1973, the bank merged with other Orlando banks to become SunBanks.[14] As of December 31, 1973, it had three bank-related subsidiaries and total assets of $1.713 billion.[15]

In the early 1980s, the bank pursued further mergers, positioning itself for the state of Florida to eventually allow interstate banking. It incorporated 81-year-old Hillsboro Bank, based in Plant City, an institution with $150 million in assets and then the third-oldest state-chartered bank. It also bought Florida State Bank of Tallahassee, with which it had tried to merge with in 1973, when the economy soured.[16]

In May 1983, Sun announced a deal for Miami-based Flagship Bank Inc., with $3.3 billion in assets, that positioned Sun to be one of the Florida's largest bank holding companies. The Flagship deal was the seventh struck by Sun in less than a year.[16]

Trust Company of Georgia merger

In 1985, Trust Company of Georgia and SunBanks merged to form SunTrust Banks, Inc. The merged company was headquartered in Atlanta, and continued to operate as Trust Company Bank in Georgia and Sun Bank in Florida.

The newly merged company made its first major deal a year later, when suntrust bank business checking purchased Third National Corporation of Nashville. However, it continued to use the Third National name in Tennessee. In 1995, SunTrust retired the Trust Company Bank, Sun Bank and Third National names and rebranded all of its banking subsidiaries as SunTrust.

SunTrust purchased Crestar Financial Corporation of Richmond, Virginia in 1998, expanding the company's footprint into Virginia, Maryland, and the District of Columbia. Crestar was founded in 1865 as State Planters Bank of Commerce and Trusts in 1865, becoming United Virginia Bank in 1969 and Crestar in 1987.[17] Crestar's (and SunTrust's) earliest predecessor, Farmers Bank of Alexandria, was founded in 1811.[18]

In 1988, Suntrust was added to the S&P 500 Stock Price Index.[18]

In 2001, SunTrust purchased the institutional businesses of the Robinson-Humphrey Company, LLC. creating SunTrust Robinson-Humphrey.

The company bought Memphis-based National Commerce Financial Corporation (NCF) for $7 billion in 2004. The bank operated as National Bank of Commerce in South Carolina, Tennessee, Mississippi, Arkansas, Alabama, Georgia, Virginia, and West Virginia and as Central Carolina Bank and Trust in North Carolina. This acquisition allowed SunTrust to enter Alabama, the Carolinas, and West Virginia for the first time, and substantially increased its footprint in the other states.[19]

In 2013, the bank led a bank group that included Fifth Third Bank and Florida Community Bank that helped finance the acquirement of BEL USA, the parent company that owns DiscountMugs, by Comvest Partners, a private equity firm.[20][21][22]

In 2014, SunTrust announced it would launch a medical specialty group to work with independent medical practices.[23]

On September 16, 2014, the Atlanta Braves announced the name of their new Cobb County stadium: SunTrust Park.[24] SunTrust Park, which is expected to be unveiled in time for the first pitch of the 2017 season, will serve as the new home of the Atlanta Braves. The $1.1 billion construction project in Cobb County will include restaurants, shops, offices, a hotel, and residential spaces directly connected to the park. The Braves organization is making history by building out the development at the same time the stadium is being constructed.[25]

The Robinson-Humphrey Company

The Robinson-Humphrey Company, one of Atlanta's oldest and important companies,[26] was acquired by SunTrust in 2001. However, SunTrust had long coveted Robinson-Humphrey, reportedly having pursued it for more than 80 years.[27] Trust Company of Georgia, the oldest progenitor of SunTrust, was rebuffed in an effort to buy Robinson-Humphrey in 1917.

The firm was founded as a municipal bond shop by Roby Robinson in 1894. Robinson and William G. Humphrey, a bond trader from Toledo, Ohio, eventually incorporated The Robinson-Humphrey Co. in 1902. It blossomed into the leading investment banking firm in the South under Chairman Justus Martin Jr., who helped broaden its ties to Atlanta corporations, European clients and the firm's wealthy families who were brokerage clients.[27] Martin was at the helm when Robinson-Humphrey commissioned the building of the bold Atlanta Financial Center in city's tony Buckhead business district in the early 1980s.[28]

In 1982, Martin sold Robinson-Humphrey to American Express, which was then run by another Atlanta deal maker and fellow Georgia Tech grad, James Robinson (no relation to Roby Robinson). Under AmEx, the firm operated as part of Shearson Lehman Brothers Inc.[26] In 1993, deal maker Sandy Weill orchestrated a deal for Shearson's retail division, and Robinson-Humphrey was included in the sale, using the Smith Barney unit of Primerica Corp.[26]

Truist Financial Corporation

On February 7, 2019, BB&T Corporation reported that it would acquire SunTrust to create the sixth-largest US bank, with assets of $442 billion and market capitalization around $66 billion. BB&T will be the nominal survivor, but the merged bank will be headquartered in Charlotte under a new name, Truist Financial Corporation. However, Truist will retain significant operations in Atlanta.[10][29][30] It was subsequently announced that Atlanta will be Truist's headquarters for wholesale banking, while Winston-Salem will be the headquarters for community banking. This could mean more jobs in both cities.[31] SunTrust had been the last major bank headquartered in Atlanta, which had been the South's financial capital for much of the 20th century.

The merger closed on December 6, 2019. On that day, SunTrust Bank merged into BB&T's banking unit, Branch Banking and Trust Company, forming Truist Bank as the merged company's legal banking entity. However, the merged bank will continue to operate under the BB&T and SunTrust names until the two banks' systems are combined, a process that could take up to two years. Customers of either company will be able to use the other's ATMs without charge during the process.[32]

Pre-Merger operations and structure

The company operated three primary business units: Consumer Banking & Private Wealth Management, Wholesale Banking, and Mortgage.[33]

Business Line Percentage of Revenue
Consumer Banking 32%
Corporate & Investment Banking 20%
Commercial & Business Banking 14%
Private Wealth Management 12%
Mortgage 11%
Consumer Lending 8%
Commercial Real Estate 3%

As of September 2016, SunTrust Bank operates 1,400 bank branches and 2,160 ATMs across including Alabama, Arkansas, Florida, Georgia, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, West Virginia, and Washington, D.C.[7] The bank announced in 2018 that it will close its last five West Virginia branches, all in Kroger stores.[34]

Executives

Individual Position Years
William H. Rogers Jr.Chairman, President and CEO 2011 – 2019
James M. Wells IIIChairman, President and CEO 2007 – 2011
L. Phillip HumannChairman, President and CEO 1998 – 2007
James B. "Jimmy" Williams Chairman, President and CEO 1990 – 1998
Robert M. Strickland Chairman/SunTrust; president of Trust Company in 1973 1978 – 1990

On April 21, 2011, William H. Rogers Jr., began a transition into the CEO role previously held by Jim Wells, who retired December 31, 2011. Formerly SunTrust's COO, Rogers assumed the title of CEO on June 1, 2011. Rogers had been named President in 2008.[35] At that time, the current Chief Financial Officer (CFO) is Aleem Gillani was named in April 2011.[36]

In 2015 and 2016, two corporate treasurers have gone on to become CFOs at large regional banks, including Kevin Blair at Zions Bancorporation and Paul Burdiss at Synovus,[37][38] and a unit strategy head, Inder M. Singh, became CFO at IT firm Unisys.[39]

Relationship with Coca-Cola

SunTrust had a suntrust business checking relationship with The Coca-Cola Company. In 1919, Ernest Woodruff, president of the Trust Company from 1904 to 1922, and W. C. Bradley bought The Coca-Cola Company for $25 million and restructured. The Trust Company of Georgia helped underwrite the initial public offering, accepting shares of Coke in exchange for its services.[40] Four years later, his son, Robert W. Woodruff, was suntrust bank business checking Coca-Cola's president, a title he would hold until 1954 and was a board member until 1984.

As a result, SunTrust owned 48.3 million shares (3.58%) of Coke as of 2006, which had a GAAP cost basis of $110,000. In addition, the original copy of the formula for Coca-Cola was stored in a safe deposit box of an eventual SunTrust location in Atlanta (originally a Trust Company Bank location) from 1925 to 2011.[41] It was eventually moved to a purpose built vault in the World of Coca-Cola, also in Atlanta.[42]

Over the years, Coca-Cola executives would sit on SunTrust's board of directors[43] and SunTrust execs would sit on Coca-Cola's board.[44]

SunTrust started to divest Coke shares in May 2007, when it sold 4.5 million, or 9% of its position.[45] In 2008, the bank sold another 10 million shares, donated 3.6 million to SunTrust's charitable foundation, and crafted a plan to sell more shares in 2014 and 2015.[46]

However, in September 2012, SunTrust sold all of its Coke shares at the behest of its suntrust bank business checking regulator, the Federal Reserve.[47] SunTrust was forced to resubmit its capital plan – known as Comprehensive Capital Analysis and Review (CCAR) – after it failed part of the stress test in March 2012. The Coke shares (or any stock holding) held by SunTrust would weigh on the bank's capital ratio under new capital rules within Basel III. Thus, SunTrust decided to accelerate its plan and sold the Coke shares earlier than expected.[48]

2014 National Suntrust bank business checking Settlement

In 2014, the Federal government together with state attorneys general in 49 states and the District of Columbia reached a settlement requiring SunTrust Mortgage, Inc., to provide $500 million in various forms of relief to mortgage borrowers. The United States District Court for the District of Columbia entered the Consent Order on September 30, 2014. The consent order addressed SunTrust's alleged misconduct regarding its mortgage servicing and foreclosure practices. SunTrust was also required to create a 40 million dollar fund for the approximately 45,000 SunTrust borrowers who were foreclosed upon between January 1, 2008 and December 31, 2013. In addition, SunTrust was required to adhere to significant new homeowner protections. The consent order required that SunTrust follow the servicing standards set up by the 2012 National Mortgage Settlement (NMS) with the five largest banks.

Controversies

In September suntrust bank business checking SunTrust laid off one hundred IT professionals with a controversial severance agreement clause by SunTrust that required laid-off employees to be available to help without pay for a period of two years. On October, 23rd Suntrust reversed course and removed the clause: "to make myself reasonably available to SunTrust regarding matters in which I have been involved in the course of my employment with SunTrust and/or about which I have knowledge as a result of my employment with SunTrust."[49]

Buildings and branches

Located at 200 South Orange Avenue, The SunTrust Center is the tallest building in downtown Orlando, Florida. The 35 story, 650,000 sq ft (60,000 m2) building was constructed in 1988 at a cost of approximately $100 million.[citation needed] It is constructed of reinforced concrete and granite with marble finishes and features 17 elevators.

  • Fifteenth and New York Branch in Washington, D.C. (2018)

See also

References

  1. ^"SunTrust Corporate Profile". Yahoo! Finance. Retrieved 2019-02-26.
  2. ^ ab"SunTrust Corporate Profile". Yahoo! Finance. Retrieved 2019-02-26.
  3. ^"Corporate Profile". SunTrust.com.
  4. ^"STI Annual Balance Sheet". MarketWatch. Retrieved 2019-02-26.
  5. ^"SunTrust Corporate Profile". Yahoo! Finance. Retrieved 2019-02-26.
  6. ^"FDIC Institution Directory: SunTrust Bank". 2.fdic.gov. Archived from the original on 2010-06-13. Retrieved 2017-08-10.
  7. ^ ab"SunTrust Corporate Profile". SunTrust.com. Retrieved 23 September 2016.
  8. ^Cumming, Chris (October 11, 2013). "SunTrust to Pay $1.5B to Settle Mortgage Claims". American Banker. 178 (F340). p. 13. Retrieved August 7, 2017 – via EBSCO.
  9. ^Zibel, Alan; Johnson, Andrew R. (June 17, 2014). "U.S. Reaches $968 Million Mortgage Settlement With SunTrust". The Wall Street Journal. Retrieved October 27, 2018.
  10. ^ ab"BB&T and Suntrust to combine in an all-stock merger of $66 billion". CNBC. Reuters. February 7, 2019. Retrieved February 7, 2019.
  11. ^"BB&T-SunTrust merger creating Truist Financial set to close at midnight". www.bizjournals.com. Retrieved 2019-12-07.
  12. ^ ab"Historical Highlight". SunTrust.com. Retrieved 23 September 2016.
  13. ^ abGarrett, Franklin M. (1969). Atlanta and environs : A Chronicle of Its People and Events, 1880s-1930s. Athens, Ga.: University of Georgia Press. p. 235. ISBN .
  14. ^"Orlando City Planning"(PDF). CityofOrlando.net. Retrieved 23 September 2016.
  15. ^"Sun Bank Earnings Reported". Lakeland Ledger. February 12, 1975. Retrieved 23 September 2016.
  16. ^ abStuart, Reginald (May 16, 1983). "FLORIDA'S BANK-MERGER SPREE". The New York Times. Retrieved 23 September 2016.
  17. ^"Institution History for TENTH & MAIN BRANCH (47920)". Federal Financial Institutions Examination Council.
  18. ^ ab"Page Not Found - SunTrust"(PDF). Suntrust.com. Archived from the original(PDF) on 2015-04-07. Retrieved 2015-04-19.
  19. ^"SunTrust to buy National Commerce Financial". Atlanta Business Chronicle. 2004-05-09. p. 1. Retrieved 2007-04-08.
  20. ^"Comvest Invests in BEL USA, Adds On Branders.com". PitchBook. 17 March 2014. Retrieved 30 December 2014.
  21. ^Dunford, Thomas (24 December 2013). "The Morning Leverage: What's Waiting in Private Equity's Stocking?". The Wall Street Journal. Retrieved 30 December 2014.
  22. ^"Comvest Investment Partners IV, L.P.; Amin Rahman Ramjee". Federal Trade Commission. 20 December 2013. Retrieved 30 December 2014.
  23. ^Correia, Margarida. "SunTrust Private Wealth Management Launches Medical Specialty Group". Bank Investment Consultant. Retrieved 27 June 2014.
  24. ^Tucker, Tim (16 September 2014). "Braves name their new stadium: SunTrust Park". ajc.com. Retrieved 26 May 2015.
  25. ^Riley, Cindy (13 May 2015). "SunTrust Park to House Atlanta Braves in 2017". constructionequipmentguide.com. Retrieved 26 May 2015.
  26. ^ abcMollenkamp, Carrick and Deogun, Nikhil. "Citigroup to Sell Capital-Markets Unit Of Robinson-Humphrey to SunTrust". The Wall Street Journal. Retrieved 8 February 2019.CS1 maint: multiple names: authors list (link)
  27. ^ abMurray, Brendan. "R-H expansion plans include Boston, London - Atlanta Business Chronicle". webcache.googleusercontent.com. Atlanta Business Chronicle. Retrieved 8 February 2019.
  28. ^"Justus Carlile Martin Jr.-Obituary". The Atlanta Constitution. Retrieved 8 February 2019.
  29. ^Richard Craver (February 11, 2019). "New name for BB&T-SunTrust may help deliver new identity to customers, marketplace". Winston-Salem Journal.
  30. ^Allison Prang (June 12, 2019). "Truist Financial Is New Name for Combined BB&T, SunTrust". The Wall Street Journal.
  31. ^Craver, Richard (February 10, 2019). "BB&T headquarters move to Charlotte stings but silver lining could be more local jobs". Winston-Salem Journal. Retrieved February 10, 2019.
  32. ^Danielle Chemtob (December 9, 2019). "BB&T, SunTrust finish merger to become Truist in 'seamless' change. Here's what's next". The Charlotte Observer.
  33. ^ ab"Barclays Global Presentation"(PDF). SunTrust.com. Retrieved 23 September 2016.
  34. ^Garland, Max (March 4, 2018). "SunTrust Banks to close five remaining WV branches". Charleston Gazette-Mail. Retrieved April 3, 2018.
  35. ^"Archived copy". Archived from the original on suntrust bank business checking. Retrieved 2011-07-22.CS1 maint: archived copy as title (link)
  36. ^"Aleem Gillani". Suntrust.com. Retrieved 30 September 2016.
  37. ^Adams, Tony (July 11, 2016). "Synovus taps SunTrust executive for chief financial officer". ledger-enquirer.com. Retrieved 30 September 2016.
  38. ^Nemeroff, Evan (March 20, 2015). "Zions Taps SunTrust Treasurer to Replace Retiring Chief Financial Officer". American Banker. Retrieved 30 September 2016.
  39. ^"Chief Financial Officer (CFO) Janet Haugen to Retire from Unisys; Company Names Inder M. Singh to Succeed Haugen as CFO". Prnewswire.com. Retrieved 30 September 2016.
  40. ^Borowsky, Bruce (2005-03-11). "SunTrust Banks (Trust Company Bank)". New Georgia Encyclopedia. Georgia Humanities Council. Retrieved 2006-12-10.
  41. ^Coporate. "Coca-Cola Moves Its Secret Formula to The World of Coca-Cola". Coca-Cola Journey. Coca-Cola Company. Retrieved 28 June 2016.
  42. ^Stafford, Leon. "Coke hides city bank lubbock texas phone number secret formula in plain sight in World of Coca-Cola move". The Atlanta Journal-Constitution. The Atlanta Journal-Constitution. Retrieved 28 June 2016.
  43. ^"Officers & Directors". SunTrust Banks, Inc. Archived from the original on 2017-04-14. Retrieved 2007-04-08.
  44. ^"Board Of Directors". The Coca-Cola Company. Retrieved 2007-04-08.
  45. ^"SunTrust Selling Coke". USAToday.com. May 15, 2007. Retrieved 23 September 2016.
  46. ^Gross, Daniel (2008-07-23). "DESPERATE BANKS SELLING OFF HARD ASSETS". Newsweek. Retrieved 23 September 2016.
  47. ^MATTHIAS RIEKER and SAABIRA CHAUDHURI (October 22, 2012). "SunTrust Profit Soars on Coke Stock Sale". Wall Street Journal. Retrieved 23 September 2016.
  48. ^Benoit, David (September 6, 2012). "SunTrust Sells Coke Shares and Bad Loans". Wall Street Journal. Retrieved 23 September 2016.
  49. ^Thibodeau, Patrick. "In turnabout, SunTrust removes contentious severance clause". Computerworld.com. Retrieved 2017-08-10.

External links

Источник: https://en.wikipedia.org/wiki/SunTrust_Banks

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