Commercial Checking Accounts

Commercial Checking
For larger for-profit retail/service business.

• $100 opening deposit
• $7.50 per month service charge
• $.15 per debit/check
• $.25 per deposit
• $.10 per non-cash item deposited
• Interest charge for use of uncollected funds at Wall Street Journal Prime +3%
• Regulations allow banks to apply a non-cash earnings credit based on the account balance, which can be used to reduce or offset service charges. Earnings credit rate is variable.
• Itemized monthly statement
• Merchant MasterCard/VISA processing available
• Free Online Banking

Commercial Interest Checking Available to unincorporated sole proprietors, certain not-for-profit corporations, Minnesota municipalities, attorneys and realtors.

• Interest bearing, variable rate.
• $1000 opening deposit
• $1000 minimum balance, with check safekeeping
• $2500 minimum balance to receive cancelled checks
• $15 service charge if balance drops below minimum at any time during statement cycle
• First 25 debits/checks per month are free, $.20 per debit/check for each item over 25
• First 50 non-cash items deposited per month are free, $.20 for each item over 50
• Merchant MasterCard/VISA processing available
• Free Online Banking

Small Business Checking
For most small for-profit retail/service businesses, including formal and informal partnerships, as well as small corporations with low transaction volume.

• $100 opening deposit
• $3.00 per month service charge
• $.15 per debit/check
• $.15 per non-cash item deposited
• Interest charge for use of uncollected funds at Wall Street Journal Prime +3%
• Regulations allow banks to apply a non-cash earnings credit based on the account balance, which can be used to reduce or offset service charges. Earnings credit rate is variable.
• Itemized monthly statement
• Merchant MasterCard/VISA processing available
• Check Safekeeping
• Free Online Banking

Community Organization Checking
For service groups, clubs, sport leagues, etc.

• $300 opening deposit and minimum balance
• $5 service charge if balance falls below minimum
• First 15 non-cash items deposit per month are free, $.15 per item over 15
• First 15 debits/checks per month are free, $.15 per debit/check over 15
• Check Safekeeping