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Business Checking Accounts

The chart below provides an overview of all MidWestOne business checking accounts and their features and services. Choose the checking account that's right for your business and Switch to MidWestOne today.

 

Interest Earned

Minimum Opening Balance

Monthly Service Charge

More Features

BUSINESS CHECKING

No

$100

$0

Business Interest Checking

Yes, tiered and compounded monthly

$100

$8 if falls below min. daily balance of $5,000 (3)

Non-Profit Checking

Yes, tiered and compounded monthly

$100

$0

Commercial Checking

No

$100

$15 (3)

 (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.