Business Accounts

At Merchants National Bank we have several business account options to choose from. Our accounts are designed to meet the needs of our customers and their banking preferences.

  

Business Checking

 

FeatureBusiness Basic CheckingPremium Business CheckingCommercial CheckingClub CheckingInsured Money MarketBusiness Savings
Business Type All Business Types All Business Types All Business Types Non-Profits All Business Types All Business Types
Earnings Credit No No Yes No No No
Reserve Required     Earnings credit on average collected balance after 10% reserve requirement is subtracted      
Interest No No No Yes Yes Yes
Transaction Limit* 100 300 No No No No
Minimum Balance Requirement  No $20,000.00 N/A $5,000  $1000.00 $200.00
Monthly Service Fee No $20 if below Minimum Balance Requirement $30 $15 if below Minimum Balance Requirement $10 if below Minimum Balance Requirement $4 if below Minimum Balance Requirement
Cost Per Item in Excess

$0.50

 $0.50

$0.17 Each on US Debit

$0.35 Each on US Credit

$0.15 Each Deposited Item

$0.02 Each Debit Item
$0.02 Each Deposited Item

Per Item Fees Waived if Minimum Balance Requirement is Maintained

6 Withdrawals per Month - No Charge

$10 Monthly Fee if Withdrawals Exceed 6

4 Withdrawals per Month - No Charge

Each additional withdrawal is $1.00
Overdraft Protection Yes - Options Available Yes - Options Available Yes - Options Available Yes - Options Available Yes - Options Available N/A
Online Banking Yes - No Fee Yes - No Fee Yes - No Fee Yes - No Fee Yes - No Fee Yes - No Fee
Telephone Banking Yes - No Fee Yes - No Fee Yes - No Fee Yes - No Fee Yes - No Fee Yes - No Fee
Debit Card Yes - Unlimited Yes - Unlimited Yes - Unlimited Yes - Unlimited Yes - Unlimited N/A
Remote Depoist Capture Yes Yes Yes Yes Yes  
Mobile Deposit Yes Yes Yes Yes Yes  
Monthly Statement Free eStatements, $3 Paper Fee Free eStatements, $3 Paper Fee Yes Yes Yes Yes
Check Writing Unlimited Unlimited Unlimited Unlimited Unlimited N/A
Check Orders Customer Purchases Customer Purchases Customer Purchases Customer Purchases Customer Purchases N/A
Online Billpay Yes - Fees May Apply Yes - Fees May Apply Yes - Fees May Apply Yes - Fees May Apply Yes - Fees May Apply No
Minimum to Open $100.00 $100.00 $100.00 $100.00 $100.00 $200.00
 

Additional Services for All Accounts : Night Depository Services, Electronic Statements, Merchant Services, Sweep Accounts, Mobile Banking, Health Savings Accounts, Remote Deposit Capture, Cash Management Options, Credit Cards, Commercial & Small Business Lending and Account Analysis

                                
*Each credit, debit, ACH, and deposited item counts as a transaction.

Business Savings

  • Available to all business types
  • Interest bearing
  • $200 Minimum balance requirement
  • $4 Monthly service fee1
  • 6 Free withdrawals/month2

1 If balance falls below minimum balance requirement
2 $4 Monthly fee if withdrawals exceed 6

  

 

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