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
- $0 minimum opening deposit
- Debit Card with ATM access and Mastercard® Easy Savings Program
- No monthly fee
- 250 free transactions per month. Includes checks, deposit slips and deposited items. $.25/item after 250.
- Unlimited debit card point-of-sale, ATM* and ACH transactions
- Overdraft Line of Credit options**
It’s great to bank somewhere where they know my name and my business. Whenever I come into the Bank, whether it’s with a transaction or question, it’s clear everyone genuinely cares that I get what I need.
How can I switch my business checking account to Merchants Bank?
It's easy - just use our online guide to switching your business checking account
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.
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.
For help setting up an external transfer to/from your Merchants Bank Business Checking account, contact your local Treasury Management Sales Officer.
** Fees may apply for certain Treasury Management services. Bill payments after the first 20 bills are $.40 each.
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 |
*Subject to credit approval.
*ATM surcharge and foreign fees may apply. ** Subject to approval.
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