Business Checking

Business Checking

You've worked hard to custom-build your business from the ground up. That's why we've custom-designed Business Checking accounts that fit your needs. Whatever your business, MidWestOne Bank has the checking solution for you.

Checking Comparison Chart

Services Basic Business Checking Business Interest Checking* Non-Profit Checking Commercial Checking Commercial Funds Management Basic Ag Checking Ag Interest Checking*
Minimum Balance to Open
$100
$100
$100
$100
N/A
$100
$100
Minimum Daily Balance
$0
$1,000
$0
$0
N/A
$0
$1,000
Monthly Service Charge (4)
$0
$8 if fall below
$0
$10
$50
$0
$8 if fall below
Activity (3,4)
250 Free Debits, Credits, Deposited items
250 Free Debits, Credits, Deposited items
250 Free Debits, Credits, Deposited items
Varies; see below
Varies; see below
250 Free Debits, Credits, Deposited items
250 Free Debits, Credits, Deposited items
Interest Earned
No
Yes, Tiered (1,2)
Yes, Tiered (1,2)
No
No
No
Yes, Tiered (1,2)
Interest Compounded
N/A
Monthly
Monthly
N/A
N/A
N/A
Monthly
Earnings Credit
No
No
No
Yes (7)
Yes (7)
No
No
Basic Online Cash Manager
FREE
FREE
FREE
FREE
FREE
FREE
FREE
Deluxe Online Cash Manager (8)
$35 per month, waived 1st 3 months
$35 per month, waived 1st
3 months
$35 per month, waived 1st 3 months
$35 per
month, (calculated in Analysis);
waived 1st
3 months

$35 per
month,(calculated in Analysis);
waived 1st 3 months
$35 per month, waived 1st 3 months
$35 per month, waived 1st
3 months
Online Bill Pay $5.95 per month (9) $5.95 per month (9) $5.95 per month (9) $5.95 per month (9)
(calculated in Analysis)		 $5.95 per month (9) (calculated in Analysis) $5.95 per month (9) $5.95 per month (9)
Business Check Card
FREE
FREE
FREE
FREE
FREE
FREE
FREE
Other
 
*Reserved for sole proprietor- ships, government agencies & municipal- ities only
 
 
 
 
*Reserved for sole proprietor- ships only

ATM Usage Fees (4)
MidWestOne owned ATM
FREE
FREE
FREE
FREE
FREE
FREE
FREE
Non-MidWestOne owned ATM
$1
$1
$1
$1 (calculated in analysis)
$1 (calculated in analysis)
$1
$1

Statement Types Available
Non-image Statement
FREE
FREE
FREE
FREE
FREE
FREE
FREE
Secure Statement (Online)
FREE
FREE
FREE
FREE
FREE
FREE
FREE
Image Statement (4)
$3
$3
FREE
$3
$3
$3
$3
Checks
Starter Kit
Starter Kit
Starter Kit
Starter Kit
Starter Kit
Starter Kit
Starter Kit
Other
$.30 for each additional debit, credit, or deposited
item in excess of 250 per month
$.30 for
each additional debit,
credit, or deposited
item in
excess of
250 per
month
$.30 for
each additional debit,
credit, or deposited
item in
excess of
250 per
month
See item (6)
$.04 on-Us
$.07 Iowa
$.11 Out of State
$.20 Debit
$.25 Credit
$.10 ACH Debit or Credit
Account will be placed on analysis, Excluded from Oops Overdraft Protection
Sweep Analysis Account, Funds sweep into Repurchase Agreement; Excluded from Oops Overdraft Protection
$.04 on-Us
$.07 Iowa
$.11 Out of State
$.20 Debit
$.25 Credit
$.10 ACH Debit or Credit
$.30 for
each additional debit,
credit, or deposited
item in
excess of
250 per
month
$.30 for
each additional debit,
credit, or deposited
item in
excess of
250 per
month

(1) Daily Balance Method used to calculate interest on account.  This method applies a daily periodic rate to the available collected 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 Page for current interest rates and annual percentage yields based on designated balance tiers.
(3) 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.
(4) Sales Tax will apply to these items.
(5) Printed Image Statements are available for a cost of $3.00 per account, per statement.
(6) Interest charged on overdrawn balances and uncollected funds are calculated each day based on current Prime Rate plus 4% per annum.
(7) 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.
(8) $75 setup fee. Monthly fee may be placed into monthly analysis. (9) $5.95 per month charge for 10 payments or less. Payments in excess of 10 are $.45 each.