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Power Checking

The Power Checking account is our signature account – and for good reason. You’ll receive the following for each cycle you qualify.

  • The Power Interest Rate on balances up to $25,000 and
  • Up to $15 in domestic ATM fee refunds for each cycle you qualify.

It’s easy to qualify and there are no monthly service fees. $100 minimum to open. See our current rates  for information regarding the interest rate tiers.

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To qualify for Power Checking rewards, each qualification cycle, you must:

  1. Receive electronic statements.
  2. Make at least 15 debit card purchases that post and clear (ATM transactions aren’t included).
  3. Make at least one direct deposit, automatic payment (to a third party) or bill pay transaction to post and clear.

Read Power Checking frequently asked questions.

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 may apply.
(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.

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


Important Power Checking Dates

Power Checking Qualification Cycles end on the fourth Wednesday of each month. On this day, transaction counts are finalized and interest is paid. Domestic ATM fees are refunded to the account once the Power Checking qualifications are met.