Business Checking Accounts

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Business Checking Accounts

Account Type	Small 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.