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Checking accounts – Business

Main Bank offers a variety of convenient Business Accounts to meet the needs of local businesses of all sizes.

Basic Business Checking Account

This option is perfect for small-to medium-sized businesses and non-profit organizations with lower balances and a smaller amount of monthly transactions.

Requirements Minimum to open ~ $750
Benefits Monthly maintenance fee ~ waived with daily balance of $750 or more
20 credits per month**
20 debits per month**
Visa Check Card ~ no charge for first card
Cost Monthly maintenance fee with daily balance under $750 ~ $12
Charge for each item after 20 credits per month ~ $0.25
Charge for each item paid after 20 debits per month ~ $0.25

**Credit items include: Paper checks and ACH deposits

**Items paid include: Paper checks, ATM, Debit Card, and ACH withdrawals

Basic Business Checking Plus Interest 1,2

This checking account is designed for sole proprietors and other entities that meet federal eligibility requirements for interest-bearing checking accounts.

Requirements Minimum to open ~ $750
Minimum daily balance to earn interest ~ $1,000
Benefits Monthly maintenance fee ~ waived with daily balance of $2,000 or more
Interest is compounded and paid monthly
20 credits per month**
20 debits per month**
Visa Check Card ~ no charge for first card
Cost Monthly maintenance fee with daily balance under $2,000 ~ $12
Charge for each item after 20 credits per month ~ $0.25
Charge for each item paid after 20 debits per month ~ $0.25

**Credit items include: Paper checks and ACH deposits

**Items paid include; Paper checks, ATM, Debit Card, and ACH withdrawals

Main Money Account 1,2,3

This money market investment account is designed for businesses with excess cash balances that wish to earn a higher yield while maintaining liquidity and don’t need to write a lot of checks

Requirements Minimum to open ~ $2,500
Minimum daily balance to earn interest ~ $2,500
Benefits Monthly maintenance fee ~ waived with daily balance of $2,500 or more
Three paid items per month**
Interest is tiered, compounded and paid monthly
Cost Monthly maintenance fee with daily balance under $2,500 ~ $15
Excessive activity fee after 3 paid items per month ~ $5 each

**Includes Pre-authorized/automatic ACH withdrawals and mobile phone/computer transfers to a third party or another account of a depositor of Main Bank.

Basic Business Checking with Account Analysis

This account is designed for businesses with high transaction volumes and average balances. This account allows businesses to offset fees and monthly charges against an earnings credit.

Requirements Minimum to open ~ $1,000
Benefits Earnings credit on 90% of average investable balance ~ 90-Day T-Bill Rate
Monthly Analysis Statement ~ No Charge
Cost Monthly maintenance fee ~ $10
Debit charge for each item paid ~ $0.15
Credit charge for each deposit ~ $0.15
Credit charge for each item deposited ~ $0.15

1. Interest Rates and Annual Percentage Yields (APY) are variable and may change at any time at the Bank’s discretion. No floor or ceiling has been established. A minimum daily balance must be maintained to obtain the APY. The minimum daily balance that must be maintained is equal to the "Minimum Daily Balance to Earn Interest" amount disclosed for each product. We use the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the collected balance in the account each day. We use an interest accrual basis of 365 days for each day of the year. Interest begins to accrue no later than the business day after the bank receives credit for the deposit of non-cash items such as checks. Accrued but unpaid interest may not be paid if the account is closed. Seven Days’ notice of withdrawal may be required. Fees could reduce the earnings on all accounts.

2. Pre-authorized automatic and telephonic transfers to a third party or another account of the depositor of this Bank are limited by Federal Regulation to six per statement.

3. Federal eligibility requirements apply. This Applies to Money Market Accounts and Business Savings Accounts only.

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