BUSINESS DEPOSIT PRODUCTS

First National Bank Minnesota understands how valuable your business is to the local community. We offer highly experienced bankers who can provide customized service for your business, no matter how large or small. Our safe, simple and straightforward business products are designed to meet your growing business needs.

 

Business Checking Options

First National Bank Minnesota offers a variety of account types to fit your business’ financial needs. Whether you’re a small business with minimal transactions, a mid-sized business or large business with high deposit volume, we have the products and services to put your needs FIRST! Plus, Business Online Banking services are free with every account!

ProductFREE CHECKINGECONOMY CHECKINGANALYSIS CHECKING

Description

For businesses with few transactions

For mid-sized businesses

For high-volume businesses

Minimum Daily Balance

$0 $0 $0

Earns Interest

None Yes – eligible businesses earn interest on collected balances of $1,000 or greater None

Monthly Maintenance Fee

None

$15 monthly maintenance fee

$7.50 monthly maintenance fee

Transaction Limits & Fees

100 items free

$.20 for each additional item

Returned deposited checks $4.00

200 items free

$.20 for each additional item

Returned deposited checks $4.00

$.15 per check

$.05 deposit items on-us

$.08 deposit items not-on-us

Returned deposited checks $4.00

Features & Options

  • Images provided
  • Free Incoming ACH
  • Free Online Business Banking
  • Images provided
  • Free Incoming ACH
  • Free Online Business Banking
  • Images provided
  • Free Incoming ACH
  • Free Online Business Banking
  • Earnings credit to offset service charges

Free Checking

For businesses with few transactions, the Free Business Checking account is ideal! This account features no monthly fees and no minimum balance, but still allows you 100 FREE monthly transaction items.

  • Minimum Balance: None
  • Maintenance Fee: None
  • Fees & Options:
    • 100 items free; $.20 for each additional item
    • Images provided
    • Free incoming ACH items
    • Returned deposited checks $4.00

Economy Checking

To help business owners in the neighborhood with low to moderate transaction volume, we developed the Economy Checking account. It comes with 200 free items (debits, credits, deposited items) and low transaction fees if you exceed that number.

  • Minimum Balance: None; eligible businesses earn interest on collected balances of $1,000 or greater
  • Maintenance Fee: $15 monthly maintenance fee
  • Fees & Options:
    • 200 items free; $.20 for each additional item
    • Images provided
    • Free incoming ACH items
    • Returned deposited checks $4.00

Analysis Checking

The Analysis Checking account is perfect for businesses with higher transaction volume. With low transaction fees and an earnings credit that can defray or offset your monthly total charges, we designed it for the way business gets done.

  • Minimum Balance: None
  • Maintenance Fee: $7.50 monthly
  • Fees & Options:
    • Free incoming ACH items
    • $.15 per check
    • $.05 deposit items on-us
    • $.08 deposit items not-on-us
    • Uncollected Funds usage: Prime + 4%
    • Earnings credit to offset service charges
    • Returned deposited check $4.00
    • Images provided

Savings

First National Bank Minnesota understands how valuable your business is to the local community. We offer highly experienced bankers who can provide customized service for your business, no matter how large or small. Our safe, simple and straightforward business products are designed to meet your growing business needs.

 

Business Savings

The Business Savings account gives you the ability to keep an eye on the bottom line and earn a competitive rate while you save.

  • Tiered interest rates based on the collected balance
  • No service fee with $300 minimum balance; $5 monthly charge if below minimum
  • Interest is calculated daily, paid quarterly; quarterly statement

Unlimited withdrawals in person, six automatic or telephone transfers allowed per month. There is a $10 per month item fee in excess of these limits.

Preferred Money Market

We offer a Preferred Money Market account that pays competitive rates and offers several convenient ways to access funds.

  • Tiered interest rates based on the collected balance
  • $1,000 minimum balance, $10 monthly maintenance fee if account balance falls below minimum any day of the month
  • Images provided

Unlimited withdrawals in person, six automatic or telephone transfers allowed per month. There is a $10 per month item fee in excess of these limits.

CDs

Certificates of Deposit (CDs)

First National Bank Minnesota offers a variety of CD rates and terms ranging from 6 months to 60 months. Check with the universal banking team to see which one would work for you.

 

 

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