Checking Options for Businesses of Any Size
Every business is different. As a business owner, you offer different products and services. At First National Bank Minnesota, we do the same thing. We offer several different checking accounts, so no matter what type of business you have, you have an account to choose. 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! Contact one of our offices to speak with our business banking team about which checking account will best serve your business's needs.
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Compare Your Business Checking Account Options
No matter which checking account you choose, you'll enjoy benefits that include:
- Free online banking
- Free eStatements
- Images included on statements
Business First Checking | Business Essential Checking | Business Advantage Checking | Non-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 | Balances generate an earnings credit to offset services charges and eligible product fees. Credit is based on average account balance and applied to monthly service charges and product fees. | Yes, balances earn interest at a tiered level and are paid monthly |
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/ | 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) 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 Monthly Statements |
| Features & Options | Images provided Online Business Banking | Images provided Online Business Banking | Images provided Online Business Banking | Images provided Online Business Banking |
Checks made out to a business cannot be cashed; they must be deposited into the business account. If you need to receive cash, you will need to write a check and cash it.