Business Checking Accounts

Choose a Business Checking Account to Fit Your Needs

Looking for the ideal business checking account for your company's financial needs? At BankIowa, we understand that every business is unique. Dive into our user-friendly comparison chart to effortlessly determine which account aligns seamlessly with your business operations. Whether you're a small startup or a growing enterprise, BankIowa has the ideal checking solution for you.

Not sure which account to choose? We're here to assist! Our team of seasoned bankers is well-versed in the nuances of business financial management. We're dedicated to understanding the specific challenges and opportunities your business faces. By getting to know your business, we can guide you towards the checking account that not only meets your current financial needs but also supports your future growth.

If you want to set up a business account with us, here are the most common types of documentation we need:

Organizing documents as applicable to your business organization, such as Articles of Organization and Operating Agreement
Driver’s license or state ID for business owner(s)
Business tax identification number (TIN) or EIN letter; a federal tax return is an acceptable alternative
Current business address
Trade name paperwork or assumed name statement, if applicable
Social security number (which you can provide when we set up your account)

Contact us today to discuss your options and find the perfect business checking account tailored to your company's needs. At BankIowa, your business’s success is our top priority.

Let's Talk About Business

	Basic Business Checking: Designed for businesses with low volume account activity	Business Select Checking: Account for moderate monthly volume	Commercial Checking: For businesses with high volume activity	Impact Commercial Checking: Interest bearing account available to qualifying nonprofit organizations, sole proprietorships, and partnerships	Public Fund: Interest bearing checking for qualifying Government Entities only
Opening Balance	$100	$100	$500	$500	$1,500
Rate Information	N/A	N/A	N/A	Interest rate and annual percentage yield may change at any time at our discretion	Interest rate and annual percentage yield may change at any time at our discretion
Minimum Balance Requirement To Avoid Monthly Service Charge	N/A	$5,000 daily collected balance	N/A	$1,500 average daily collected balance	$1,500 average daily collected balance
Monthly Service Charge	$5	$10	$9	$9 If min. balance is not maintained	$9 If min. balance is not maintained
Per Check Fee	Under 30 checks per month – free. Over 30 per month- $.20	Under 150 checks per month – free. Over 150 per month- $.20	$.18/check	$.18/check – waived with qualifying balance	$.18/check – waived with qualifying balance
Per Deposit Item	Under 100 items per month – free. Over 100 per month- $.20	Under 200 items per month- free. Over 200 per month - $.20	$.085/item	$.085/item – Waived with qualifying balance	$.085/item – waived with qualifying balance
Per ACH Debit Fee	N/A	N/A	$.10	$.10 – Waived with qualifying balance	$.10 – Waived with qualifying balance
Interest Computation Method	N/A	N/A	N/A	Daily	Daily
Crediting and Compounding Frequency	N/A	N/A	N/A	Monthly	Monthly
Debit Card Available	Yes	Yes	Yes	Yes	Yes
Other	N/A	N/A	Monthly charges are reduced by the Collected Balance Credit rate.	Maintain an average daily collected balance of $1,500 or greater to avoid monthly fees.	Maintain an average daily collected balance of $1,500 or greater to avoid monthly fees