Commercial Checking

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The Bank of Elk River’s Commercial Checking Account is designed for large, active businesses where you receive credit for your balanced maintained to offset service charges.

Benefits:

  • Free online banking
  • Free eMobile banking via browser or app (Apple® or Android™)
  • Free monthly paper statements with check images. You can also upgrade to free eStatements reducing your paper trail thereby decreasing the risk of identity theft, fraud and postal delays.
  • Free telephone banking using The Bank of Elk River’s InfoLine service
  • No minimum balance requirements
  • Simplified Employee Pension (SEP) plans
  • Additional services that have nominal fees, but can save you and your business valuable time and money:
    • Online Bill Pay
    • Mobile Deposit
    • Credit card processing services available
    • Business Ready Reserve (overdraft protection)1
    • Wire Transfers

Earnings Credit Feature:

The earnings credit is an internal bank rate, competitively priced, that is reviewed regularly and may change monthly at The Bank’s discretion. The earnings credit is applied toward the monthly service charge based on an average monthly collected balance. Click here to view the current earnings credit rate.

Requirements:

  • $25 minimum opening balance
  • $10.00 monthly basic fee
  • For every item debited, a $0.12 fee will be charged.
  • For every non-Bank of Elk River item deposited, a $0.08 fee will be charged. This is also known as a transit fee.

1 Subject to credit approval.