Our Checking Accounts Check All the Boxes
Business Checking Accounts
| Account Type | Small Business Checking |
Business Checking
|
|---|
| Minimum 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 |
| 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. |
| 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 |
| Dormant Fee |
$5.003/month with no activity for 12 months if average daily balance1 falls below $500.00 |
$5.003/month with no activity for 12 months if average daily balance1 falls below $500.00 |
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.
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