Checking

 

business_checking_products_comparison_chart

   

Small Business Checking

 

Commercial Checking

 

Commercial Super
NOW Checking

 

Business Checking with Interest

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

 

Business clients looking for an opportunity to earn interest on their account

Minimum Requirements

 

 

$500 minimum daily collected balance

 

 

No minimum

 

 

No minimum
Variable interest rate is paid if the average collected balance is $2500 or above.

NOW account rate is paid if average collected balance falls below $2500.

 

No minimum
Interest rate on balances over $10,000 is tied to the current money market rate

If balance falls below $10,000, NOW interest rate is paid

Maintenance Fees

 

 

If balance falls below $500 minimum requirement, then $8 monthly fee

 

$5.00 monthly fee

  $5.00 monthly fee   $8.00 monthly fee

Per Item Fees

 

 

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

No charge for on us items

 

Debits/credits are $.10 each


Deposited items (on other banks) $.05 per item

No charge for on us items

 

Debits $.12 each

Credits $.10 each

Deposited items (on other banks) $.05 each

No charge for on us items

Features

 

 

Monthly account statement with returned check images

Earning credit may offset fees

 

Monthly account statement with returned check
images

Earning credit may offset fees

 

Monthly account
statement with
returned check
images

Interest is added to the account on cycle date

 

 Monthly on-line statements, paper statement fee $5.00

Interest is paid monthly, computed on collected balance and added to account on cycle date

 


repurchase_investment_sweep_title

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,  (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.

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