Small Business Checking
Our checking account is designed for customers such as small businesses, sole proprietorships and non-profit organizations with moderate monthly activity.
- $200 minimum business checking
- No monthly service fee with a $200 balance (if balance falls below $200 at any time during the month a $5.00 service fee will be assessed and a $.20 per debit fee will be applied for each debit during the statement cycle).
- Free internet banking
- Month end statements
- Several styles of business or personal checks to choose from
Commercial Checking accounts are designed for corporations with a higher volume of activity.
- Earnings credit is given for the average collected balance in your account during the statement cycle. This credit is applied towards transaction charges.
earnings credit is currently .34%.
- Monthly maintenance fee $10.00
- Checks paid $0.15
- Checks deposited (not on us) $0.06
- Checks deposited (on us) $0.00
- Deposits (per deposit slip) $0.00
- Chargebacks $3.00
- Cash/Coin order $0.00
What documents do I need to provide to identify my business?
Sole Proprietorship: Certificate of Assumed Name from the State of Minnesota.
Partnership: Partnership Agreement and Certificate of Good Standing from State of Minnesota.
Corporation: Articles of Incorporation and Certificate of Good Standing from State of Minnesota.
LLC: Articles of Organization and Certificate of Good Standing from State of Minnesota
What information do I need to provide for authorized signers?
Each authorized signer on the account needs to provide a valid driver's license and his/her social security number in addition to their current address.
What tax ID numbers are needed?
In the case of a sole proprietorship, the tax identification number needed will generally be the owner's social security number. For other types of businesses, a federal tax identification number will need to be provided.
What is the minimum deposit to open a new account?
The minimum deposit to open an account is $200.00.