Business Checking

Independence Bank offers a Commercial Checking account that is just right for your business. In addition, we also offer many more business solutions.

Account Type	Monthly Service Charge	Minimum Balance	Free Online Banking
Small Business Checking	$5 if below minimum, $.25 per item fee over 300 items in statement period.	$300	Yes
Business Checking	$6 monthly service charge plus $.12 per debit item, $.06 per credit item and $.06 per item within a deposit. Service charge is offset by earnings credit.	$0	Yes
Business Checking with Interest	Below minimum, no interest paid that month. $6 monthly service charge plus $.12 per debit item, $.06 per credit item and $.06 per item within a deposit. No item limits.	$1000	Yes

Small Business Checking

$300 minimum balance, below minimum a $5 monthly service charge
Free return of front check images
Free Online Banking
IB Bill Pay available
Independence Bank Visa® Business Debit Card is available
$.25 per item fee over 300 items in a statement period
Debit and credit card merchant services available

Business Checking

No minimum balance
Free Online Banking
IB Corp available
IB Bill Pay available
Independence Bank Visa® Business Debit Card is available
Free return of check images
$6 monthly service charge
$.12 per debit item
$.12 per credit item
$.06 per item within a deposit
Service charge is offset by earnings credit
Debit and credit card merchant services available

Business Checking with Interest

$1000 minimum balance, below minimum no interest paid that month
Interest paid on average daily balance with rate subject to change
Free Online Banking
IB Corp available
IB Bill Pay available
Independence Bank Visa® Business Debit Card is available
Free return of front check images
$6 monthly service charge
$.12 per debit item
$.06 per credit item
$.06 per item within a deposit
Debit and credit card merchant services available

Other Checking Account Related Services

Additional Services

Statement transcripts
Stop payment orders
Research account/reconciliation

IB Corp - Business Online Banking

IB Corp is Independence Bank's secure online corporate cash management solution. IB Corp has all of the features of regular online banking with the added functionality of funds management capabilities by authorized employees.

24/7 up to the minute account access for monitoring account balances and activity
Internal fund transfers between accounts
Initiate wire transfers
Print and/or view your current or previous statement (up to 12 months) anytime
Provide employees with Direct Deposit for payroll
ACH services which automate incoming and outgoing payments and transfers between Independence Bank and other financial institutions

Click here to learn more about IB Corp at our Online Education Center

Independence Bank Visa® Business Debit Card

We are pleased to offer the Independence Bank Visa® Business Debit Card to our valued business customers.

Two-line name embossment which allows for both the business name and the owner or designated employee name to be on the card
Make purchases anywhere Visa® cards are accepted, with the amount automatically deducted from the designated business checking account
No annual fees or finance charges*

The Independence Bank Visa® Business Debit Card gives businesses and their employees significant advantages in terms of convenience and acceptance compared to traditional business checks. As the business owner, you decide which employees are authorized to have a business debit card and you set the purchase and cash withdrawal limits. Your monthly statement provides a detailed description of all debit card activity, or if you prefer to track your debit card purchases more frequently, you can use our online banking services.

Please stop in and visit with one of our New Account Representatives to find out more about the new Independence Bank Visa® Business Debit Card and how it can work for your business.

* ATM’s not owned by Independence Bank may impose a transaction fee.

Overdraft Protection

Guard against returned checks with overdraft protection.

Independence Bank has two options to protect you against the embarrassment and costs associated with returned checks.

Savings Account Funds Transfers

You can set up an automatic transfer option from any savings account or another checking account at Independence Bank. The advantages of choosing the automatic transfer from another account are:

There are no interest charges, unlike a line of credit
The limit for your overdraft coverage is as large as your alternative account balance
Details of your automatic transfer will be included on your monthly statement or can be accessed 24/7 on our online banking or telephone banking systems.

Federal Banking law sets a limit of six preauthorized transfers on savings accounts per month. Transfers initiated by a Savings Account Transfer are included in this limit.

Security Reserve

Security Reserve is a revolving overdraft line of credit that is tied to your checking account and is automatically advanced when your account is overdrawn. Security Reserve is a loan product which requires a separate application process, assesses interest charges when advanced upon and, like any loan product, is based upon approved credit qualifications. Some advantages of Security Reserve include:

Peace of mind, knowing that unintentional errors or omissions in your checkbook will be covered up to the amount of your line of credit.
Security Reserve balances can be repaid with scheduled monthly payments
Details of your Security Reserve transactions will be included on your monthly statement or can be accessed 24/7 on our online banking or telephone banking systems.

Please talk to our friendly staff about adding Overdraft Protection to your checking account today!