Business Checking Account
Business checking that fits the way you work
Choose a Business Account That Fits How You Operate
Your business checking account is at the center of your day-to-day finances. It’s where money comes in, expenses go out, and you keep track of the activity that keeps your business moving.
Bank Midwest offers business checking accounts designed for different business sizes, transaction volumes, and cash-flow needs. If you’re opening your first account or looking for a better fit for an established business, you can choose an account with the features, flexibility, and local support you need.
Business Checking Accounts Built Around Your Business
Not every business uses its checking account the same way. A small business with a lower volume of transactions has different needs than a growing company managing more activity.
That’s why Bank Midwest offers two business checking options:
Basic Business Checking
A low-cost option for startups and businesses with lower transaction volume. Basic Business Checking is designed to keep everyday business banking simple while helping you control costs.
$100
Minimum opening deposit
$0
Minimum balance to earn interest
$0
Monthly service charge*
*Up to 75 items free per statement cycle.
If you’re looking for a free business checking account with no monthly service charge, Basic Business Checking provides an option for keeping your routine banking costs low. Items over the monthly allowance are subject to applicable fees.
Business Checking
Flexible checking for businesses with steady cash flow and higher transaction needs.
$100
Minimum opening deposit
$0
Minimum balance to earn interest
$5
Monthly service charge*
*Can be partially or completely offset by balance and transaction activity.
As your business grows, your checking account needs to keep up. Business Checking gives you a flexible option for managing regular business activity, with opportunities to offset the monthly service charge through your account balance and transaction activity.
Find the Business Checking Account That Fits Your Needs
The right account starts with understanding how you use your business checking account today. Consider the following:
- How many transactions do you typically make each month?
- Do you maintain a regular balance in your account?
- Is minimizing monthly fees a priority?
- Do you want to earn interest on operating funds?
- How important is convenient online and mobile access?
- Is your business growing or changing the way it manages cash?
Compare Your Business Checking Options
Both accounts provide a practical foundation for managing everyday business finances. The main differences come down to monthly fees and the amount of activity included with each account.
*Business Checking fees may be partially or completely offset through account balance and transaction activity. See current account disclosures for complete details.
Which Business Checking Account Fits Your Business?
Choose Basic Business Checking if keeping monthly costs low and managing a lower volume of transactions are your priorities.
Choose Business Checking if your business handles more regular transaction activity and you want an account with opportunities to offset the monthly service charge.
Ready to open a business checking account? Compare your options with a Bank Midwest Banker.
Helping Keep Your Business Checking Account Secure
Protecting your business finances is an important part of managing your account. Bank Midwest provides security features and account monitoring tools to help you keep track of your business checking account and identify transactions that need your attention.
With online and mobile banking, you can regularly review your balances and transactions, monitor account activity, and stay informed about what’s happening in your account. Taking a few simple precautions—such as using strong, unique login credentials and reviewing account activity regularly–can also help protect your business finances.
Why Bank Midwest for Business Checking?
Choosing a business checking account is about more than comparing fees and minimums. You also want a bank that understands the realities of running a business.
Bank Midwest has served businesses and communities for more than 140 years. Today, that experience is paired with modern banking tools and a team of real people you can reach when you need help.
Local Banking With Convenient Access
Looking for a business checking account near me? Bank Midwest has locations throughout the communities it serves, giving you the option to connect with a local banking team while managing your account digitally when it’s more convenient.
Ready to Open a Business Checking Account?
Opening a business checking account is a simple step toward keeping your business finances organized and separate from your personal finances.
If you’re ready to open a business checking account, you can start your application online or connect with a Bank Midwest banker at a location near you.
Frequently Asked Questions
What is a business checking account?
A business checking account is designed to help businesses manage everyday financial activity separately from personal finances. It can be used to receive business income, pay expenses, manage transactions, and keep business records organized.
Bank Midwest offers three business checking options: Business Basic Checking, Business Checking, and Business Interest Checking, designed around different transaction volumes and account needs.
Does Bank Midwest offer a free business checking account?
Yes. Basic Business Checking has a $0 monthly service charge and no minimum balance requirement. The account includes up to 75 items free per statement cycle. A $100 minimum opening deposit is required.
How much does it cost to open a business checking account?
Bank Midwest’s business checking accounts require a $100 minimum opening deposit. The monthly service charge depends on the account you choose. Basic Business Checking has no monthly service charge, while Business Checking has monthly fees that may be reduced or waived based on applicable account requirements.
Are there monthly fees for business checking accounts?
Basic Business Checking has no monthly service charge. Business Checking has a $5 monthly service charge, with opportunities to offset the fee through your account balance and transaction activity. Review the current account disclosures for complete fee details and requirements.
Is there a minimum balance for a Bank Midwest business checking account?
The business checking accounts currently have a $0 minimum balance requirement.
How quickly can I assess my cash or check deposits for my business?
Cash deposits are generally available according to Bank Midwest’s applicable funds policy. Check deposits may be subject to a hold before funds are available for withdrawal, depending on the type of deposit, when and where it is made, and other applicable factors. Bank Midwest can provide specific availability information when you open your account or make a deposit.
Which business checking account is right for a small business?
It depends on how your business uses its checking account. Basic Business Checking is designed for startups and businesses with lower transaction volume. Businesses with higher transaction needs may prefer Business Checking.
Can I open a business checking account online?
Yes. Bank Midwest provides an online application for opening a business account. A Bank Midwest banker reviews the application and helps with account setup.
Can I manage my business checking account online and through mobile banking?
Yes. Both Basic Business Checking and Business Checking give you convenient access to your account through Bank Midwest’s online and mobile banking. You can monitor balances and transactions, deposit eligible checks with your mobile device, pay bills, schedule recurring payments, and access online statements. These tools make it easier to stay on top of your business checking account from the office, at home, or on the go.
Where can I find a business checking account near me?
Bank Midwest has locations throughout the communities it serves. Use the location finder to locate a nearby branch and connect with a local banking team.
What is the difference between a business account and a commercial checking account?
The terms are often used interchangeably to describe checking accounts used for business finances. At Bank Midwest, business checking is the terminology used for its business checking account options. The best account depends on your business’s transaction volume, balances, and everyday banking needs.
Equal Housing Lender