Business Checking

Account options that grow with your business.

Our business checking accounts include:

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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

BUSINESS SAVINGS

Account options that help reach your business goals.

BUSINESS LENDING

Lending options to help build your business.

CASH MANAGEMENT

Easily manage and control your cash flow.

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.