Coronavirus Update

Your safety and well-being is our top priority at Bank Midwest. Due to increasing COVID activity in the Lakes Area, our Spirit Lake and Okoboji lobbies are closed until July 13. Please use our drive-up, digital channels, video tellers (ITM) or call 888.902.5662 for assistance. Learn more at bankmidwest.com/coronavirus/.

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Help Center: Accounts

Frequently Asked Questions

Whether you have or need a savings or spending account, we have accounts to suit your needs and services to help you access your money when you need it.

Account information

  • How do I make changes to my account information?

    When you need to update account information such as your name, address, mailing information or anything else:

    • Call us at 888.902.5662
    • Stop by your local Bank Midwest branch, or
    • Send a secure message after you log in to Online Banking
  • What is Bank Midwest’s routing number?

    Our nine-digit ABA routing number is 0912-0164-3.

    This number is used to help identify your account so they can transfer money to and from your accounts. You can also find it on the bottom left of your checks.

  • Where can I find my account number?

    Your 12-digit account number is printed on each check, just to the right of our 9-digit routing number, as well as on deposit slips.  Or, call us at 888.902.5662.

  • How do I order checks?

    Bank Midwest customers can order through our check provider, Harland Clarke.

    Order personal or business checks here.

    Note: If you typically receive checks discounted or free of charge, please contact your local branch or call 888.902.5662 to place your order.

  • Why are there limits on automatic withdrawals from Savings or Money Market Accounts?

    Savings accounts are meant for saving.

    Federal Regulation D encourages saving by limiting the number of pre-authorized withdrawals from savings or money market accounts each month. The magic number is six. 6 pre-authorized transfers are permitted each month. If you exceed this limit, a fee will be assessed for the month to discourage you from using interest-bearing accounts like transaction or checking accounts.

    Pre-authorized withdrawals include ACH, check, telephone transfer, Internet/mobile banking transfer, and POS transactions.  However, it is important to remember that withdrawals from a savings made in person, by mail, or at an ATM are unlimited.

    Please let us know if you have any questions about this regulation, 888.902.5662.

Opening an account

  • How do I open a new account?

    You can open standard savings, HSA and checking accounts online or visit your local Bank Midwest branch to begin banking with us. We have locations in Iowa, Minnesota and South Dakota.

  • What information will I need?

    Make sure you bring a Social Security card, government-issued photo ID such as a driver’s license,  state ID or passport, and the account information for any bank you’ll be transferring funds from.

    Note that each of our accounts requires a minimum opening deposit depending upon the type of account you wish to open.

  • What are your checking, savings and CD rates?

    Bank Midwest works hard to make sure all our customers have opportunities to earn interest on their money when they bank with us.

    Review our current deposit rates here.

  • Can I mail my opening deposit if I open an account online?

    While we don’t accept checks or cash deposits for online account opening, you can fund your account in 1 or 3 ways:

    • Transfer funds electronically from another financial institution
    • Use a debit or credit card
    • Wire transfer

Overdraft protection

  • What are the standard overdraft protections that come with my deposit account?

    An overdraft is when you don’t have enough money in your card to cover a transaction, so Bank Midwest covers it instead. By default, Bank Midwest only authorizes and pays for overdrafts for:

    • Checks and other transactions made using your checking account number.
    • Automatic bill payments.

     

    We do not authorize and pay overdrafts for the following types of transactions unless you request it:

    • ATM transactions.
    • Everyday debit card transactions.

    We pay overdrafts at our discretion. This means we don’t guarantee that we will always authorize and pay any type of transaction. If we do not authorize and pay an overdraft, your transaction will be declined.

  • What fees will I be charged if Bank Midwest pays my overdraft?

    Under our standard overdraft practices:

    • We will charge you a fee of up to $33.00 each time we pay an overdraft.
    • There is a limit of six fees per day we can charge you for overdrawing your account.
  • What other type of overdraft protection does Bank Midwest offer?

    We offer overdraft protection plans, such as a pre-approved line of credit or a link to a savings account, which may be less expensive than our standard overdraft practices.

    To learn more about overdraft protection, contact us at 888.902.5662.

  • What if I want Bank Midwest to authorize and pay overdrafts on my ATM and everyday debit card transactions?

    If you also want Bank Midwest to authorize and pay overdrafts on ATM and everyday debit card transactions, you must “opt in” and consent to this service.

    You can visit any location or opt in online with our Courtesy Overdraft ATM/Debit Card Opt In form.

Direct deposit and automatic payments

  • How do I set up direct deposit?

    Direct deposits allow you to automatically deposit funds to your accounts.

    Most customers set up direct deposit by filling out employer-provided forms. They might ask for the type of account, the account number, and the bank’s name, routing number, and address.

    Alternatively, some employers ask for a letter from your bank. Customers can find a Bank Midwest direct deposit letter here. Use the letter to identify which account(s) you wish to have your paychecks deposited.

  • How do I set up automatic payments?

    When you set up automatic payments (or direct debit) funds are withdrawn from your accounts which can help you avoid late payments.

    Automatic payments are usually set up with the service provider you’re paying (utilities company, cable company, etc.). When setting up automatic payments, a vendor will usually ask for the type of account, the account number, and the bank’s name, routing number, and address.

    If you prefer to use mail to set up automatic payments or switch from an old account to a new one, use Bank Midwest’s “Update Your Automatic Payment Letter”.

Switching accounts to Bank Midwest

  • How do I switch from my old account to my Bank Midwest account?

    1. Open your Bank Midwest account. Visit any of our locations and we’ll help you find the right account for you. Or, open it online.
    2. Stop using your old account. We know old habits die hard, but now that you’ve opened up your new account, it’s time to start using it.
    3. Switch any direct deposits and automatic payments to your Bank Midwest account. Keep your old account open with enough funds to cover all outstanding checks, final direct deposits and/or automatic payments have cleared.Meanwhile, start getting in touch with your employer and service providers to switch direct deposits and/or automatic payments to your new Bank Midwest account. Feel free to use our letter samples:  Update Your Automatic Payment LetterRequest Direct Deposit Letter.
    4. Close your old account. After all outstanding checks, final direct deposits and/or automatic payments have cleared from your old account and are redirected to your new account, use our pre-written letter to close your old account:  Close Your Old Account Letter.

    NOTE: Some companies require the use of their own forms to initiate the switching of accounts. Either way, don’t just move all your cash once any old payments clear and call it a day. Make sure you formally notify your old bank to avoid potential fees.

  • What should I do with my old checks?

    Once you’re sure you won’t need them anymore, securely destroy them or bring your old checks to any Bank Midwest branch and we can recycle them for you.

  • What should I do with my old debit card?

    Cut it up and throw it in the garbage. It’s difficult, but not necessarily impossible for a fraudster to use an old and even expired debit card, so always err on the side of caution.

Wire transfers

  • What are wire transfers?

    A wire transfer is a highly secure electronic transfer of funds between two banks. A domestic wire transfer usually takes 24 hours or less. An international wire transfer typically takes two or three business days but may take as many as five in some cases.

  • How do I wire money from another account to my Bank Midwest account?

     

    Incoming wire instructions — Domestic:   

    Receiving Bank
    Bank Midwest
    ABA Routing Number 0912-0164-3

    Beneficiary (Credit)
    Customer Name
    Bank Midwest Account Number

    Incoming wire instructions — International

    Option 1: Preferred instructions

    Correspondent Bank
    Originating institution will determine the U.S. correspondent bank.

    Beneficiary Financial Institution
    Bank Midwest
    1920 Center Creek Dr
    Fairmont, MN 56031

    ABA Number: 0912-0164-3

    Beneficiary
    Customer Name
    Bank Midwest Account Number

    Option 2: Alternative instructions

    Correspondent Bank
    Quad City Bank and Trust
    2118 Middle Rd
    Bettendorf, IA 52722

    ABA Routing Number: 0739-0223-2

    SWIFT: QUCTUS41

    Beneficiary Financial Institution
    Bank Midwest
    1920 Center Creek Dr
    Fairmont, MN 56031

    ABA Number: 0912-0164-3

    Beneficiary
    Customer Name
    Bank Midwest Account Number

  • How do I initiate a wire transfer to another bank?

    Bank Midwest customers can initiate a wire transfer at one of our locations. Call 888.902.5662 for more information.