Nonprofit Business Checking
As a financial partner for the community and a participating partner for many nonprofits, Merchants offers a nonprofit business checking account to help enable your organization to do even more good for your community.
Nonprofit Business Checking
As a financial partner for the community and a participating partner for many nonprofits, Merchants offers a nonprofit business checking account to help enable your organization to do even more good for your community.
What is a nonprofit checking account?
A nonprofit checking account is a special type of checking account designed with nonprofit businesses in mind. Nonprofit checking accounts are set up to minimize the cost of banking and increase earnings potential for the organization. Typically these accounts have parameters that nonprofits find beneficial, such as little or no minimum dollar amount required to open the account, interest earned on the account balance and a low monthly fee. In addition, nonprofit checking accounts usually have no or low charges on each transaction (for example, a debit card payment, check deposit or ACH), which can be important when comparing against some traditional business checking accounts. Explore the features of Merchants Bank's nonprofit checking below.
Nonprofit Business Checking Account Features
If you’re ready to open this account for your nonprofit organization, contact your local branch and schedule an appointment with your banker. Or fill out our Contact Us form online to have a banker follow up with you. To prepare for your appointment, read the Frequently Asked Questions below, which provides a list of helpful documents to bring when opening your nonprofit business checking account.
Compare Business Checking Accounts
Account Features | 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 and MasterCard® Easy Savings Program | ||||
Monthly Fee | $0 | $8 | $8 | $8 |
Monthly Free Transaction Items | ||||
Per Transaction Charge | ||||
Borrowed Funds Rate | n/a | Prime+3% | Prime+3% | Prime+3% |
Earnings Credit | ||||
Earns Interest | ||||
Overdraft Line of Credit* | Available | Available | Available | Available |
Contact UsLearn More | Contact UsLearn More | Contact UsLearn More | Contact UsLearn More |
Innovation and inclusion are at the heart of our mission, and I credit our partnership with Merchants for helping us get to a place where I can fully concentrate on mission.
Please bring the following items with you to open your nonprofit business checking account:
Being prepared with this information will help speed up the account opening process. To schedule an appointment to open a new nonprofit business checking account, contact your local Merchants Bank branch.
*ATM surcharge and foreign fees may apply. **Subject to approval.