Small Business Checking

At Merchants, we know small businesses have big goals. That's why we offer a small business checking account to help you easily manage your day-to-day money needs.

Small Business Checking Features

Compare Business Checking Accounts

Account FeaturesSmall Business CheckingBusiness CheckingInterest Bearing Business CheckingNonprofit 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 Raten/aPrime+3%Prime+3%Prime+3%
Earnings Credit
Earns Interest
Overdraft Line of Credit*AvailableAvailableAvailableAvailable
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*Subject to credit approval. 
It’s important to me to use a local bank because the people there know me. They know my name when I walk in. It makes doing business with Merchants that much more enjoyable.

Katy Lindberg

Farmer's Insurance

Merchants has been a great local banking partner. I enjoy seeing the staff around town engaging with people in the community and stopping into our business. Our banking team has been there to help address business challenges and work through them together.

Jackie Ohmann

CannonBelles Coffee and Ice Cream

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.

How soon after starting my small business should I open a checking account?

As soon as you have your Tax ID number, it’s a good idea to open your business checking account for the reasons noted above. There are small business checking account options (like Merchants’ Small Business Checking) that do not have a minimum balance to open or a monthly fee, which makes it easy to open the account even if you aren’t fully operating your business yet. Getting your accounts in place from the beginning will help you keep accurate records and funnel business income and expenses appropriately.

What bank accounts should a small business have?

The accounts you should open for your small business will depend on the needs of your company. In general, it’s important to open a business checking account so you can keep track of business spending separate from your personal spending. This becomes especially essential at tax time. 

As for other options like savings accounts, business credit cards or treasury management tools, you’ll want to talk to a banker who can guide you through what is available and find accounts or services that fit how your business operates. For example, how much money do you intend to keep in your account? Will you be processing payroll or writing a lot of checks? Do you need a way for multiple employees to pay for business expenses? Your answers to these questions and more will help a banker recommend the best set of bank accounts and services for your small business.

What do I need to open a small business 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.

I own or manage an established business. How do Merchants Bank business checking accounts compare to my current business checking account?

As a small business owner, you know 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 of your business checking account. Our business accounts and Treasury Management services, which include tools to help with cash flow and keep your accounts more secure, may be a better fit for your business, so we invite you to compare. Contact our Treasury Management team to begin your analysis.

Do you offer Business Online Banking and Mobile Banking?

Yes, we offer several online and mobile banking options for our business customers.

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. 

If your business needs integration with Treasury Management tools and more robust features, our Commercial Online Banking and Commercial Mobile Banking may be a better fit.

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 our Treasury Management team.

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

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

*ATM surcharge and foreign fees may apply. ** Subject to approval.

Diamond Money Market

The savings account that helps you earn more while you save more.

Treasury Management

Dedicated to your success, we provide your business with tools to manage your corporate cash efficiently and protect your financial accounts from fraud.


As your dedicated financial partner, we offer Wealth Management resources to help you plan for the future. Put our expertise to work for you. 

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