New Account Charges
CuttleBank is pleased to provide a variety of services to our clients. Some of these services cost the bank consider capital. As such, an account with a negative balance, at any point in the cycle will be charged overdraft fees of 50% of the outstanding balance.
To help our customers avoid unnecessary charges, here is the standard order of processing of transactions for a manufacturing firm for during a cycle.
Opening Balance from the Previous Cycle
less: raw materials purchases
less: machine purchases
less: service firm purchases
add: sales revenue
less: energy costs
less: manufacturing costs
less: labour costs
less: interest charges
If at any point you account goes negative, you will be charged the overdraft fees.
To help our customers avoid unnecessary charges, here is the standard order of processing of transactions for a manufacturing firm for during a cycle.
Opening Balance from the Previous Cycle
less: raw materials purchases
less: machine purchases
less: service firm purchases
add: sales revenue
less: energy costs
less: manufacturing costs
less: labour costs
less: interest charges
If at any point you account goes negative, you will be charged the overdraft fees.