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Business Checking

Features

Business Checking
Minimum balance to open $100.00
Minimum daily balance $0
Monthly service charge3 $0
Limitations 150 free debits, credits, and deposited items per month
Activity Fee3 $0.30 for each additional debit, credit, or deposited Item in excess of 150 per month.
Earns Interest1,2 No
Earnings credit5 No
Online Cash Manager (business online Banking) FREE
Online bill pay FREE
Integration with quickbooks FREE
  ACH Manager (Business online banking)3 $3.00 per file and $0.10 per item in file
Wire Manager3 $15.00 per domestic wire; $35.00 per international wire
Remote Deposit Capture3 $30.00 per month (single feed scanner); $45.00 per month (automatic feed scanner)
Business check card FREE
MidWestOne-owned ATM withdrawals FREE
Non-MidWestOne-owned ATM withdrawals $1.00
Secure estatement FREE
PAPER statement3 $5.00 per statement (Non-image or image)
business credit card Available

(1) Daily Balance Method used to calculate interest on account. This method applies a daily periodic rate to the principal balance in the account each day.
(2) Interest rates are variable and subject to change at the bank’s discretion at any time. The annual percentage yield may vary due to the interest rate changes and fees. Please refer to our Deposit Rates for current interest rates and annual percentage yields based on designated balance tiers.
(3) Sales Tax will apply to these items.
(4) Interest charges on overdrawn balances and uncollected funds are calculated each day based on current Prime Rate plus 4% per annum.
(5) An earnings allowance is applied to offset service fees. The monthly earnings credit rate is subject to change and calculated on the monthly net average positive available balance.
(6) Monthly fee may be placed into monthly analysis.
(7) Nonsufficient Funds (NSF) - Per item created by check, in-person withdrawal, ATM withdrawal or other electronic means paid or returned by bank; includes savings accounts. $29.00 per item. Maximum $174.00 per day.

MidWestOne Bank will deem your transactional account inactive if you do not make any deposits to, or withdrawals from the account for a 12-month period. An inactive account remains subject to service charges and may be assessed a non-refundable monthly $5 inactivity fee. The statement cycle may also change to semi-annual with June 30 and December 31 statements.