Checking
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Small Business Checking |
Commercial Checking |
Commercial Super |
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Designed For: |
Small business with low balance and minimal activity |
Mid to large business with heavy account activity |
Only available to sole-proprietors, non-profits, and government entities |
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Minimum Requirements
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$500 minimum daily collected balance
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No minimum
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No minimum NOW account rate is paid if average collected balance falls below $2500. |
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Maintenance Fees
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If balance falls below $500 minimum requirement, then $8 monthly fee |
$5.00 monthly fee |
$5.00 monthly fee |
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Per Item Fees
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Monthly per debit item fees: First 20 debits are free; then $.20 per item Deposited items fee: First 20 deposited items are free; then $.10 per item |
Debits/credits are $.10 each Deposited items (on other banks) $.05 per item |
Debits/credits are $.10 each
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Features
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Monthly account statement with returned check images |
Monthly account statement with returned check |
Monthly account |
Our Investment Sweep Account is designed to provide a higher rate of interest on excess funds.
This account is a “repurchase agreement” which is not FDIC insured, but instead protected, or collateralized, by U.S. Government securities owned by Maquoketa State Bank. Available balances in excess of the target balance are calculated each day and automatically invested. The target balance in checking is not interest bearing, but can be used to offset service fees.
Use of the Repurchase Investment Sweep Account will provide you the benefit of (1) allowing your commercial checking accounts to receive interest, which is not currently allowed under FDIC provisions (2) securing your account balances over $250,000 that do not qualify for the FDIC insurance by providing the collateralization program (3) having immediate access and full liquidity of invested balances for your operational cash flow needs.
Equal Housing Lender