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Power Checking

With the Power Checking Power Rate, you’ll earn 1.50% annual percentage yield (APY*) on your checking account on balances up to $25,000.

  • When your balance is $25,000, you’ll earn 0.10% APY on the portion above $25,000.
  • When the qualifications are not met, you’ll earn 0.05% APY on the entire balance.

It’s easy to qualify and there are no minimum balances. Plus, you’ll receive up to $15 in ATM fee refunds for each cycle you qualify.

No monthly service fees. $100 minimum to open.

Take a look at our Checking Account Calculator to see how a Power Checking account could help you earn more.

Read Power Checking frequently asked questions.

Learn how to qualify for the 1.50% APY Power Rate 

If you’re an existing MidWestOne customer interested in switching to Power Checking, visit your local MidWestOne bank to open an account. 

New to MidWestOne? Stop by your nearest location to open your Power Checking account or click the “Open an account” button below to get started.

Open an Account Button

Power Checking Features

Power Checking
Minimum balance to open
Minimum daily balance
Monthly service charge3
No fee and required. You must access online banking at least once every 180 days to keep both your online banking account and electronic statements active
Earns Interest1,2
Yes – Tiered Rate Structure
No fee
No fee (cost for replacement, see Service Fee Schedule)
MidWestOne-owned ATM withdrawals
No fee
Non-MidWestOne-owned ATM Usage Fee
$1.00/withdrawal. Refunds up to $15.00 per month#
# ATM refunds up to $15.00 per qualification cycle will be made for domestic ATM surcharges paid as well as ATM usage fees. ATM surcharges greater than $4.99 are not automatically refunded and require the presentation of a receipt for refund.


Power Checking
Paper Statement Fee3
If you elect to receive a Paper Statement, you will not qualify for the Power Rate. Must maintain an active online banking account – access online banking at least once every 180 days to keep your online banking account active
Paper Statement Fee (Image)3
No fee
$2.00/month (optional)
$10.00 initial setup fee
(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.  (IA accounts only).
(4) The mobile app is free. The service is free. Message and data rates may apply from your wireless carrier.
Account Inactivity Period:  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. The statement cycle may also change to semi-annual with June 30 and December 31 statements.


How to qualify for the 1.50% APY Power Rate

To earn the Power Rate on up to $25,000 and receive domestic ATM surcharge refunds nationwide, follow these 3 simple requirements and helpful tips:

  1. Make at least 15 debit card purchases that post and clear in the qualification cycle.
  • Qualification cycles always end the fourth Wednesday of the month, and transactions may take a few days to post (Hint: Try to get your 15 purchases done early on in the month).
  1. Make at least 1 direct deposit, automatic debit, or bill pay transaction to post and clear each qualification cycle. Such as:
  • Payroll into your account
  • Monthly payment to a third party. Automatic transfer to loans or other deposit accounts within MidWestOne do not count as qualifying transactions.
  • Online bill pay transactions count as automatic debits if you are using MidWestOne’s bill pay service.
  1. Enroll in and receive electronic statements.
  • Enroll in electronic statements through online banking at
    MidWestOne.com. (After logging in to online banking, click on ‘Profile’.
    In the electronic statements section, click ‘Edit’ and enroll each of your
  • You must access online banking at least once every 180 days to keep both your online banking account and electronic statements active
  • If your online banking profile becomes inactive, we will send you paper
    statements and you will be assessed a Paper Statement fee (non-image or image) of $3.00 per account, per statement. Re-enroll in online banking and electronic statements before the qualification cycle end date to avoid this fee.
  • If you do not receive electronic statements for three (3) consecutive months, your account may be converted to a Free Checking account. 

Power Checking Qualification Cycle

Power Checking qualification cycles end on the fourth Wednesday of each month. At that time, transaction counts for the qualification cycle are finalized, interest is paid and the account holder is credited for ATM refunds.


Open an Account Button

All rates and APYs listed on this page are subject to change at any time without notice.