Business Checking Accounts

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Business Checking Accounts

Account TypeSmall Business Checking

Business Checking

Business NOW Account
Minimum to Open $100.00 Minimum Deposit to Open $100.00 Minimum Deposit to Open $100.00 Minimum Deposit to Open
Minimum Balance $500.00 Average Daily Balance1 to Avoid Fees $1,000.00 Average Daily Balance1 to Avoid Fees $1,000.00 Average Daily Balance1 to Avoid Fees
Maintenance Fees A $5.003/month Maintenance Fee and $0.203 for each debit transaction2 will apply if the average daily balance1 falls below $500.00 for the monthly statement cycle. A $10.003/month Maintenance Fee and $0.203 for each debit transaction2 will apply if the average daily balance1 falls below $1,000.00 for the monthly statement cycle. A $15.003/month Maintenance Fee and $0.203 for each debit transaction2 will apply if the average daily balance1 falls below $1,000.00 for the monthly statement cycle.
Transaction Limitations If the account activity exceeds 40 items/month, Maintenance Fee & Debit Fees will be based on our Business Checking Fee Schedule. N/A

N/A

Dormant Fee $3.003/month with no activity for 12 months if average daily balance falls below $200.00 $3.003/month with no activity for 12 months if average daily balance falls below $200.00 $3.003/month with no activity for 12 months if average daily balance falls below $200.00
Interest Rate4 N/A N/A

See Rates

Eligibility Requirements:

Check with us to see if your business is eligible for an interest-bearing account.

1The average daily balance is calculated by adding the principal in the account each day of the period and dividing that total by the number of days in the period.

2Debit transaction means any withdrawal, check paid, automatic transfer or payment out of this account.

3This fee is subject to Iowa State sales tax.

4At our discretion, the interest rate and annual percentage yield may change weekly. Interest will be compounded daily. Interest will be credited to your account monthly. Interest begins to accrue on the business day you deposit noncash items (i.e. checks). We use the daily balance computation method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Interest rate and annual percentage yield may change.

 

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