Having the right business checking account can make a difference to your bottom line. We’ll work with you to develop a business banking package to fit your unique business situation and ensure you're getting the most value out of your existing business operating account(s).
 
As a financial partner invested in the success of your business, we can provide a free, no obligation analysis today. 

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Small Business Checking Business Checking Interest-Bearing Business Checking Nonprofit Business Checking
Minimum Opening Deposit $0 $0 $0 $0
Free Chip Debit Card with ATM access Checkmark in table
Checkmark in table
Checkmark in table
Checkmark in table
Monthly Fee $0 $8 $8 $8
Monthly Free Transaction Items 250 total items: includes checks, deposit slips, deposited items. Unlimited debit card point-of-sale, ATM* and ACH transactions.
No per transaction charge for debit card point-of-sale and ATM* transactions.
No per transaction charge for debit card point-of-sale and ATM* transactions.
No per transaction charge for debit card point-of-sale and ATM* transactions.
Per Transaction Charge $.25/item after 250
$.25/credit
$.03/Merchants Bank check deposited
$.08/other item deposited
$.15/debit
$.10/ACH debit
$.20/ACH credit
$.25/credit
$.03/Merchants Bank check deposited
$.08/other item deposited
$.15/debit
$.10/ACH debit
$.20/ACH credit
$.25/credit
$.03/Merchants Bank check deposited
$.08/other item deposited
$.15/debit
$.10/ACH debit
$.20/ACH credit
Borrowed Funds Rate n/a
Prime +3%
Prime +3%
Prime +3%
Earnings Credit
Based on average collected balance


Earn Interest

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*ATM surcharge and foreign fees may apply.

 

Learn More: Business Checking at Merchants Bank


How can I switch my business checking account to Merchants Bank?

 

I'm a new business owner. Why do I need separate personal and business checking accounts?

Keeping your business and personal expenses separate is important for tax and legal purposes. Even if your business is just starting out, having a separate business checking account will help make bookkeeping easier in the long term.
 

I'm an established business. How does Merchants Bank compare to my current business checking account?

Your business is constantly changing. When was the last time you reviewed your business accounts to ensure the best return and most efficient cash flow? 
 
We’ll conduct a free, no-obligation cost analysis on your business checking account. Our business accounts and Treasury Management Services may be a better fit for your business, so we dare you to compare. Contact a Treasury Management Specialist to begin your analysis.
 

What do I need to open a checking account?

Please bring the following items with you to open your business checking account:
  • Legal documents for your business.
  • Tax ID number.
  • A list of who you would like to add to the account as authorized signers and a plan for how those signatures will be obtained.
Being prepared with this information will help speed up the account opening process. To schedule an appointment to open a new business checking account, contact your local Merchants Bank branch.
 

Do you offer Business Online Banking and Mobile Banking?

Yes, we offer several online and mobile banking options for our business customers.
  • Commercial Online Banking - Provides easy access to managing your accounts and seamless integration to the Treasury Management tools you need.
  • Commercial Mobile Banking - Check your business accounts on the go and make mobile deposits, while still operating in a fully secure environment.
  • Small Business Online Banking - Geared toward small businesses that do not use Treasury Management tools, Merchants Bank Small Business Online Banking provides access to basic functions to manage your business accounts such as reviewing transactions, making transfers and paying bills. You may also set up secondary user access.**
  • Small Business Mobile Banking - Easy-to-use, secure mobile access to your business account information on your smartphone or tablet. Our Small Business Mobile Banking provides a convenient way to check balances, view recent transactions, transfer funds, find branch and ATM locations, and more. 

How do I transfer money between my checking account and other business accounts?

You can easily transfer money between your other business accounts several ways, including ACH, automated sweep accounts, Online Banking, Mobile Banking and more.
 
For help setting up an external transfer to/from your Merchants Bank Business Checking account, contact your local Treasury Management Sales Officer.
 
Have further questions? Speak to a local banker about business checking in Minnesota and Wisconsin.
 

Additional Resources:

Full Service Business Banking at Merchants Bank:

We have the resources and financial expertise to be your business partner for the long haul, offering business banking solutions in:
† Merchants Mobile Banking is free, however, text or data charges may be imposed by your mobile provider. Check your plan for details. Your carrier may limit access outside the U.S.

** Fees may apply for certain Treasury Management services. Bill payments after the first 20 bills are 40 cents each.