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!

ProductBUSINESS FIRST CHECKINGBUSINESS ESSENTIAL CHECKINGBUSINESS ADVANTAGE CHECKINGNON-PERSONAL MONEY MARKET

Description

For low-volume businesses

For mid-volume businesses

For high-volume businesses

Account that pays competitive rates with convenient ways to access funds

Minimum Opening Deposit

$100

$1,000

$100

$1,000

Minimum Daily Balance to Avoid Fees

 $0 $1,000 $0 $1,000

Earns Interest

 None None Earnings credit to offset monthly service charges Yes, balances earn interest at a tiered level

Monthly Service Fee/ Maintenance Fee

$0

$10 monthly maintenance fee if balance falls below $1,000 any day during the statement cycle

$10 monthly maintenance fee

There is a $10 monthly maintenance fee if the balance falls below $1,000 any day of the month

Transaction Limits/
Activity Fees
  • No fee for the first 100 combined items per month
  • $.25 for each additional item
  • Returned deposited checks $10.00
  • No fee for the first 250 combined items per month
  • $.25 for each additional item
  • Returned deposited checks $10.00
  • $.15 per check/debit item
  • $.10 ACH debit item
  • $.05 deposit items on-us
  • $.10 deposit items not-on-us
  • $.10 Coin (per roll)
  • $.50 Currency (per strap)
  • $.15 per POS/ATM item
  • Returned deposited checks $10.00
  • Uncollected funds usage: Prime + 4%

None

 Statements

Free e-Statement or $3.00 Paper Statement Fee

Free e-Statement or Paper Statement 

Free e-Statement or Paper Statement

Free e-Statement or Paper Statement

Features & Options
  • Images provided
  • Online Business Banking
  • Images provided
  • Online Business Banking
  • Images provided
  • Online Business Banking
  • Images provided
  • Online Business Banking

Business First Checking

For low-volume businesses, the Business First Checking account is ideal! This account features no monthly fees and no minimum balance, but still allows you 100 FREE monthly transaction items.

  • Minimum Opening Deposit: $100
  • Minimum Daily Balance: $0
  • Monthly Service Fee / Maintenance Fee: $0
  • Earns Interest:  None
  • Transaction Limits / Activity Fees:
    • No fee for the first 100 combined items per month
    • $.25 for each additional item
    • Returned deposited checks $10.00
  • Free e-Statement or $3.00 Paper Statement Fee
  • Features & Options:
    • Images provided
    • Free Online Business Banking

Business Essential Checking

To help mid-volume business owners, we developed the Business Essential Checking account. It comes with 250 combined free items per month and low transaction fees if you exceed that number.

  • Minimum Opening Deposit: $1,000
  • Minimum Daily Balance: $1,000
  • Monthly Service Fee / Maintenance Fee: $10 monthly maintenance fee if balance falls below minimum balance requirement any day during the statement cycle
  • Earns Interest:  None
  • Transaction Limits / Activity Fees:
    • No fee for the first 250 combined items per month
    • $.25 for each additional item
    • Returned deposited checks $10.00
  • Free e-Statement or Paper Statement
  • Features & Options:
    • Images provided
    • Free Online Business Banking

Business Advantage Checking

The Business Advantage Checking account is perfect for businesses with high 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 Opening Deposit: $100
  • Minimum Daily Balance: $0
  • Maintenance Service Fee / Maintenance Fee: $10 monthly maintenance fee
  • Earns Interest:  Earning Credit to offset monthly service charges
  • Transaction Limits / Activity Fees:
    • $.15 per check/debit item
    • $.10 ACH debit item
    • $.05 deposit items on-us
    • $.10 deposit items not-on-us
    • $.10 Coin (per roll)
  • Free e-Statement or Paper Statement
  • Features & Options:
    • Images provide
    • Free Online Business Banking

Non-Personal Money Market

Our Non-Personal Money Market account pays competitive rates and offers several convenient ways to access your funds.

  • Minimum Opening Deposit: $1000
  • Minimum Daily Balance: $1,000
  • Maintenance Service Fee / Maintenance Fee: $10 monthly maintenance fee if balance falls below $1,000 any day of the month.
  • Earns Interest: Yes, balances earn interest at a tiered level based on the collected balance
  • Transaction Limits / Activity Fees: None
  • Free e-Statement or Paper Statement
  • Features & Options:
    • Images provide
    • Free Online Business Banking

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.

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

 

Non-Personal Preferred Savings

Designed for businesses with their eye on growth, our exclusive Preferred Savings Account can help you earn higher interest rates on your money! With a minimum deposit of $50,000, you can earn compounded interest on a quarterly basis and watch your savings grow.

  • $50,000 minimum opening deposit and balance requirement, $25 monthly maintenance fee if account balance falls below minimum any day of the month
  • Tiered interest rates based on the collected balance
  • Interest is calculated daily, paid quarterly; quarterly statement
  • You may not make more than six (6) withdrawals or transfers per month from this account to another account of yours or to a third party account. A $10.00 transaction fee will be imposed for each withdrawal or transfer made after the sixth transaction.

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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