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Savings Accounts

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

Services Business
Savings
Business
Money Market
Minimum Daily Balance $200 $2,500
Monthly Service Fees

$9 if fall below minimum

$8 if fall below minimum

Withdrawal
Availability

6 free, then $10
per statement cycle
6 free, then $10
per statement cycle
Third-Party Transfers 6 per Statement Cycle (none by check)*
Interest Earned & Compounded Monthly Yes Yes
Monthly Statements Yes Yes
Basic Online Cash Manager (Business ONline banking) FREE FREE
Other   $0.10 per deposited item over 25 per month.

Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (e.g. checks). Interest is compounded and paid monthly on the last day of your statement. All accrued, unpaid interest will be paid to you at account closing.
We use the daily balance method to calculate interest on the account. This method applies a daily periodic rate to the principal balance in the account each day.
The interest rate is variable and subject to change at the bank's discretion reflecting current market conditions. The annual percentage yield may vary due to interest rate changes and fees. Please refer to our deposit rates for current interest rates and annual percentage yields.
MidWestOne Bank will deem your non-transactional account inactive if you do not make any deposits to, or withdrawals from, the account for a 24-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.
*** Transfers from these accounts to another account or to third parties by preauthorized, automatic, online or telephone transfer are limited to six per statement cycle. If these transaction limitations are exceeded three times in a 12-month period, the account may be closed or converted to another type of transaction account allowing unlimited third-party transfers.