Checking Account options for Your Business
A financially sound business is built on a checking account that maximizes deposits while minimizing fees. First State business checking options – Simple, Preferred and Diamond Analysis – were designed to help businesses of varying sizes and needs manage their funds efficiently.
Compare First State checking accounts to find the best solution for your business.
| Product | Simple | Preferred | Diamond Analysis |
|---|---|---|---|
| Description | This is an exceptional value for businesses with a low level of account activity. | Designed for businesses with typical transaction activity. | An analyzed account that manages moderate to high transaction activity. |
| Opening Balance | $100.00 | $100.00 | $300.00 |
| Monthly Service Charge4 | none | $10.00 monthly service charge if your average daily balance falls below $500 during a statement cycle. | $20.00 monthly service charge and/or item costs may be offset by earnings credit depending on account balance.¹ |
| Account Transaction Fee | First 30 items per statement cycle2 no charge, then $0.20 per item. | First 100 items per statement cycle2 no charge, then $0.20 per item, more than 100 items deposited $0.10 per item. |
A deposited item fee of $0.10 will be charged for each deposited item during a statement cycle. A per item fee of $0.20 will be charged for each paid debit item (paper and electronic) during a statement cycle. |
| Interest Bearing | no | optional3 | no |
| Other Available Services | |||
| Online Banking | Yes | Yes | Yes |
| Cash Management | Yes | Yes | Yes |
| Bill Pay | Yes | Yes | Yes |
| Visa®Business Debit Card | Yes | Yes | Yes |
| Visa® Debit Card | Free card with account. | Free card with account. | Free card with account. |
¹Earnings credit allowance is calculated by applying earnings to your average available balance. If your fees exceed your earnings credit allowance, your account will be assessed a service charge.
²Any combination of paid debit items, including paper and electronic.
ᵌSee current rate sheet for rates. Interest is compounded monthly and interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks).
4$4.00 dormant account fee per month after 13 months of no activity.
Current Rates
All rates are effective as of November 8, 2024.
Business Preferred
| Minimum Available Balance Requirement | Interest Rate | APY* | Minimum Deposit to Open Account |
|---|---|---|---|
| $0 to $999.99 | 0.01% | 0.01% | $100.00 |
| $1,000 to $1,999.99 | 0.01% | 0.01% | $100.00 |
| $2,000.00 & over | 0.50% | 0.50% | $100.00 |
*APY = Annual Percentage Yield
**Rates may change after the account is opened. Fees may reduce earnings.