Deposit Account (Reserve Account) statement explained
Pitney Bowes Deposit Account (Reserve account) statement, payment terms and fee structure explained. The Deposit Account (Reserve Account) is a prepaid deposit account used to pay for postage and shipping funds. Funds are held in an FDIC-insured account at The Pitney Bowes Bank Inc. Postage can then be downloaded from this balance.
Statement terms
- A monthly statement will be issued detailing all payments and transactions in the previous period.
- There is no minimum balance required on the account, however available funds are needed to download postage.
- Deposits can be made into the account at any period. See Deposit Account (Reserve Account) Payment Options.
Activity summary explained
View the below image for more information on any of the sections within Activity Summary.
Purchase summary explained
Transactions are grouped by type and summarized in the Purchases field. Individual transactions are itemized on the additional pages of the invoice.
- Postage: Postage funds added to a meter from the Deposit Account (Reserve Account) balance.
- The reference field will show the meter number of each meter that has made a postage download.
- Deposits, Credits, and Other Activities: All payments and credits posted to a Deposit Account (Reserve Account).
- Credits for unused postage will show here.
- If a fee is charged for a returned payment, this will show as a transaction fee.
- ACCOUNT SERVICE FEE: To service and provide your account, we impose a $5 fee per statement period. If at the end of each day in a statement period your available balance is equal to or exceeds $500, we will waive this account service fee for the applicable statement.
- Shipping Activity: Shipping charges for packages and parcels related to Sendpro Online | Pitney Ship.
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. Accordingly, in order to activate your Account, the Bank asks that you provide identifying information, including your address and taxpayer identification number. The Bank may also ask for additional identifying information, where appropriate, including asking that your representative who is opening your Account to provide his/her name, address, date of birth, driver’s license and/or other documents and information that will allow the Bank to identify him/her. In order to participate in the Program, you must provide the information described in this paragraph. You agree to provide all such requested identifying information.
Eligibility subject to credit approval and customer verification. This is not a commitment to lend, and this does not create, and is not intended to create a legally binding obligation on either of us. Program, rates, Terms & Conditions are subject to change.
Banking products and services are provided by The Pitney Bowes Bank, Inc., Member FDIC. Pitney Bowes, Pitney Bowes Bank, and the Corporate logo are trademarks of Pitney Bowes Inc. or a subsidiary. All other trademarks are the property of their respective owners. Pitney Bowes Bank is state chartered and located in Salt Lake City, Utah.
UPDATED: November 14, 2024