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Compare business savings accounts

FeaturesBusiness SavingsBusiness Money Market
Minimum opening balance$100$2,500
Minimum daily balance$100$2,500
Monthly service charge$3, if account falls below daily minimum balance$10, if account falls below daily minimum balance5
Earns interest1,2Yes – compounded monthlyYes – tiered and compounded monthly
Withdrawal/transfer availability36 no fee (none by check), then $10 per statement cycle6 no fee, then $10 per statement cycle
Electronic or paper statementsNo feeNo fee
Activity fee No feeNo fee
Online and mobile banking4YesYes
Mobile depositYesYes

 

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1Daily Balance Method used to calculate interest on account. This method applies a daily periodic rate to the principal balance in the account each day.

2Interest 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.

3Transfers from these accounts to another account or to third parties by preauthorized, automatic, online or telephone transfer, or by check or similar order to third parties, are limited to six per statement cycle. If these transaction limitations are exceeded three times in a 12-month period, the account may be converted to another type of transaction account allowing unlimited third-party transfers.

4There is no cost for the mobile app, the app is free. The service is free. Message and data rates may apply from your wireless carrier.

5State sales tax may apply for accounts maintained in Iowa.