Business Checking

Our business checking services are designed with your business needs in mind, no matter what size. Our flexible checking account options are designed to help you manage and grow your business.

Free Business Checking:

Designed to meet the needs of small businesses with no monthly service charges or hidden fees.

  • 150 transactions (debits, checks, credits & deposited items) per statement cycle free***
  • No minimum balance required
Business Checking:

Designed for businesses with moderate transaction activity.

  • 300 transactions (debits, checks, credits & deposited items) per statement cycle free***
  • $2500 Average Available (collected) Balance requirement to waive monthly service charges (item charges may still apply)
  • Check images included in the monthly statement
Commercial Checking:

Designed for businesses with larger activity.

  • Higher check volume
  • Commercial Account Analysis
  • Earnings Credit Allowance to offset transactional fees.

Business Checking Account Options

Free Business Checking

Business Checking

Commercial Checking Analysis

Organization Basic Checking

Opening Deposit

$100

$100

$100

$100

*Average Available (collected) Balance for no monthly service charge

***Item charges may still apply

None

$2,500

NA

NA

Images On Statements

$4 Per Statement Cycle

(Optional)

Included

Included

Included

Monthly Service Charge

None

$7.50

$7.50

$2.00

Interest Paid

No

No

Earnings credit based on 80% of the 91 day T-Bill Bank Discount Rate**

No

Special Features/
Item Charges***

$0.25 per item over 150 total debits, checks, credits and deposited items per statement cycle.

$0.25 per item over 300 total debits, checks, credits, and deposited items per statement cycle.

$0.15 per debit or check, $0.20 per credit, $0.03 per on-us item deposited and $0.08 per transit item deposited.

$0.25 per total debits, checks, credits, and deposited items over 150 per statement cycle.

* The Average Available (collected) Balance is calculated by adding the available principal balance in the account for each day of the period and dividing that figure by the number of days in the period. The available balance is the account balance, less unpaid deposited items drawn on other financial institutions in the process of collection. For current rate information please E-mail us or contact a Personal Banker at one of our branches.

**Account earns credit which may be applied to item charges. The earning credit will be based on a minimum calculation of 80% of the 91-day T-Bill Bank Discount Rate. The rate may be subject to change monthly on the account. Calculated on the Average Available (collected) Balance during statement cycle, less a balance reserve requirement of 10%

Important Information about Procedures for Opening a New Account: To help the government fight the funding of terrorism and money laundering activities, Federal Law requires all financial institutions to obtain, verify, and record information that identifies each person or business that opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that allows us to identify you. We may also ask to see your driver’s license or other identifying documents.

Switch Today!

Our friendly staff is ready to help you create a new account or transfer your existing business account to Grinnell State Bank.

Contact Us