Skip to main content

Commercial Checking

November 14, 2019

Business Commercial Checking Banner

Learn more about the other checking options available!

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 Mobile Deposit Banking via browser or app (Apple® or Android™)
  • Free Online Bill Pay
  • 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:

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 maintenance fee
  • $0.12 charge per debit item
  • No charge for checks drawn on us
  • For every non-Bank of Elk River item deposited, a $0.08 fee will be charged. This is also known as a transit fee.

¹Subject to credit approval.