Business Checking
Account options that grow with your business.
Our business checking accounts include:
Contact Our Experts
Business Checking Account Options
Small Business Checking
Best for companies with lower volume checking activity
Earnings
None
Monthly Fee2
$7 if the minimum daily balance is not met
Minimum Daily Balance
$500 to avoid the monthly fee
Transaction Charge3
First 150 transactions are free per month, then $0.40 per transaction
Commercial Checking
Best for companies with higher volume checking activity
Earnings
Earnings credit can offset monthly service charges. It is paid on the average collected balance, less the 9.00% reserve requirement
Monthly Fee2
$15
Transaction Charge3
- Debit: $0.20
- Credit: $0.40
- Deposited Item on Us: $0.05
- Deposited Item on Others: $0.11
Deposit Assessment
$0.012 assessed for every $100.00 of the average daily balance
Community Checking
Best for sole proprietors, community groups, and nonprofit organizations
Earnings
None
Monthly Fee2
None
Transaction Charge3
First 25 transactions are free per month, then $0.45 per transaction
Civic Checking
An interest-bearing account option for nonprofit organizations
Earnings4
Interest is paid on two tiers:
- $0 – $24,999
- $25,000+
Monthly Fee2
$7 if the minimum daily balance is not met
Minimum Daily Balance
$2,500 to avoid the monthly fee
Transaction Charge3
First 100 transactions are free per month, then $0.25 per transaction
Related Services
Fraud Text Alerts5
Our fraud monitoring program keeps an eye on your account and transactions. If we detect a suspicious debit card transaction, a text message is sent to you asking if the transaction is fraudulent.
Positive Pay
Reduce the risk of loss by protecting your business from check fraud. Our check verification service allows you to review and return checks you deem fraudulent.
Our Expertise
All business and nonprofit checking accounts require a $100 opening balance.
1 Some ATM networks may impose an additional surcharge unrelated to our accounts. This charge will be assessed to your account.
2 Other charges may apply to these accounts; see separate miscellaneous fee schedule.
3 Transaction items include checks paid, withdrawals, deposit items, and electronic debits and credits (ACH or POS).
4 Interest will be compounded and paid monthly based on the daily collected balance. Refer to our deposit account rates for current rate information. At our discretion, interest may change daily. Interest begins to accrue not later than the business day we receive credit for the deposit of checks.
5 Drake Bank does not charge a fee for Fraud Text Alerts; however, standard text and data rates from your mobile carrier may apply. Messaging frequency depends on account activity. Text messages will come from 37268 or 20733. Fraud Text Alerts is available to Drake Bank consumer and business debit cardholders who have mobile phone service through a participating carrier and have an active mobile phone number on file with Drake Bank.