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Merchants Business Checking

Customized solutions for business checking accounts, debit cards and more.

We'll work with you to develop a business banking package to fit your unique business situation.

Merchants Bank offers checking account options to meet the various needs of sole proprietorships, nonprofit groups and organizations, small businesses and large corporations. The option best for your business is one designed to accommodate your check-writing volume and regular deposit activity.

 

Business checking your way.

A business banker or customer service representative will work individually with you to make sure your specific business checking account needs are addressed, from overdraft lines of credit to MasterCard debit cards. Please refer to the information below or contact us directly to address specific questions about business checking or schedule an appointment.

 

A full range of Business Checking Account options:

  Small Business Checking Business Checking Interest-Bearing Business Checking Nonprofit Business Checking
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Minimum balance to open n/a n/a n/a n/a
Minimum daily balance to avoid maintenance charge n/a n/a n/a n/a
Monthly maintenance charge n/a $8 $8 $8
Free transaction items, per month 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
ACH file origination Available Available Available Available
Business MasterCard Debit Card Available Available Available Available
Checks returned with statement No No No No
Cash Management services Available Available Available Available
Check images Available online Available with statement and online Available with statement and online Available with statement and online
Online Banking access Free Free Free Free
Uncollected funds rate Prime + 3% Prime + 3% Prime + 3% Prime + 3%
Earnings credit n/a Based on average collected balance n/a n/a
Interest available No No Yes Yes, tiered based on balance
Small Business Overdraft Line of Credit Available to qualified applicants n/a n/a n/a
Business Overdraft Line of Credit Available to qualified applicants Available to qualified applicants Available to qualified applicants n/a
Statement frequency Monthly Monthly Monthly Monthly

* ATM surcharge and foreign fees may apply.

 

Small Business Checking Accounts

The Small Business Checking Account is perfect for small businesses that make a limited number of deposits and withdrawals each month. Compare it to our other business checking account options or Contact Us to speak directly with a business banking representative.

Benefits of Small Business Checking Accounts include:

  • No minimum balance requirements
  • No monthly service charge:  250 items are allowed each month, free of charge. Total items include checks, deposit slips, deposited items.
  • Unlimited debit card, ATM and ACH transactions
  • Merchants Business MasterCard Debit Card available
  • Free Online Banking access
  • Works with any of the Merchants Cash Management services

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Business Checking Accounts

A convenient way to manage your cash! Business Checking Accounts are available to all businesses.  Compare it to our other business checking options or Contact Us to speak directly with a business banking representative.

Benefits of Business Checking Accounts include:

  • No minimum balance requirements
  • Merchants Business MasterCard Debit Card available
  • Free Online Banking access
  • Works with any of the Merchants Cash Management services
  • No per item fee for debit card or ATM transactions
  • A Tiered Earnings Credit, based on the average collected balance, will be applied as an offset to the monthly service charge

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Interest-Bearing Business Checking Accounts

If you are a sole proprietor, take advantage of the opportunity to earn interest on your checking account dollars with the Interest-Bearing Business Checking Account!  Compare it to our other business checking options or Contact Us to speak directly with a business banking representative.

Benefits of Interest-Bearing Business Checking Accounts include:

  • No minimum balance requirements
  • Merchants Business MasterCard Debit Card available
  • Free Online Banking access
  • Works with any of the Merchants Cash Management services
  • No per item fee for debit card or ATM transactions
  • Interest paid on all account balances

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Nonprofit Business Checking Accounts

If you are a nonprofit company, take advantage of the convenience of earning our top savings interest rates on your checking account dollars!  There’s no longer a need to manage a checking account and a savings account.  We’ve combined all the conveniences of both into one business checking account.  Compare it to our other business checking options or Contact Us to speak directly with a business banking representative.

Benefits include:

  • No minimum balance requirements
  • Merchants Business MasterCard Debit Card available
  • Free Online Banking access
  • Works with any of the Merchants Cash Management services
  • No per item fee for debit card or ATM transactions
  • Tiered interest structure, based on account balance paid on all account balances
    • <$5,000
    • $5,000-$24,999
    • $25,000-$49,999
    • $50,000-$99,999
    • $100,000-$199,999
    • $200,000+

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Business MasterCard Debit Card

Get the Card that works like a Check. Simply present the Business MasterCard Debit Card whenever you make a purchase wherever MasterCard is accepted, in person, online or over the phone. The transaction amount will be directly deducted from your designated checking account. 

 

Benefits of the Business MasterCard Debit Card include:

Convenience. Your checkbook is an important financial management tool for your business. A Business MasterCard Debit Card offers a more convenient way to make purchases or pay your bills.

 

Save Money. There’s no fee to carry the Business MasterCard Debit Card. Reduce the cost of purchasing check stock or paying interest on business credit card accounts.

 

Reliable Tracking. Detailed information about each Debit Card transaction will appear on your monthly checking account statement, for ease in tracking expenses.

 

Flexibility. As job requirement dictate, employees can be assigned individual point-of-sale daily spending limits, and/or daily ATM limits for specified accounts. If necessary, you can temporarily increase spending limits for specific Debit Cards. You decide which employee has how much access to which accounts!

 

Travel Convenience and Security. For employees on the road, it couldn’t be more convenient. At the business owner’s direction, Business MasterCard Debit Cards can be issued to authorized employees to pay for business-related expenses. Separate spending limits can be authorized for either/or both point-of-sale or ATM transactions. Each cardholder will also be issued a secure personal identification number to use when activating the Debit Card or accessing an ATM.

 

Bank on your schedule. ATM access allows the business owner or authorized employees to make deposits after regular banking hours while providing a receipt for the transaction. Authorized Debit Card holders can also transfer funds between business accounts attached to the Business MasterCard Debit Card or make a cash withdrawal.

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