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For assistance call:
1-800-823-2274 or 406-265-1241

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 TypeMonthly Maintenance FeeMinimum Daily  BalanceFree 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 maintenance fee plus $.12 per check or debit item, $.06 per credit item and $.06 per item within a deposit. An earnings credit on this account may offset a portion of the maintenance fee(s). $0  Yes
Business Checking with Interest Must maintain a minimum average daily balance of $1,000 to obtain the disclosed annual percentage yield.  $6 monthly maintenance fee plus $.12 per check or debit item, $.06 per credit item and $.06 per item within a deposit. No transaction limits. $1000 Yes

 

Small Business Checking

  • $300 minimum opening and daily balance requirement, below minimum a $5 maintenance fee
  • Free return of front check images
  • Free Online Banking
  • IB Corp available
  • Bill Pay available
  • Free eStatements available
  • Independence Bank Visa® Business Debit Card is available
  • 300 item limit per statement period.  Excessive Item Fee: $.25 per item fee when limit is exceeded. 
  • Debit and credit card merchant services available

Business Checking

  • No minimum daily balance requirement
  • Free Online Banking
  • IB Corp available
  • Bill Pay available
  • Free eStatements available
  • Independence Bank Visa® Business Debit Card is available
  • Free return of front check images
  • $6 monthly maintenance fee
  • $.12 per check or debit item
  • $.06 per credit item
  • $.06 per item within a deposit
  • An earnings credit on this account may offset a portion of the maintenance fee(s)
  • Debit and credit card merchant services available

Business Checking with Interest

  • $1000 minimum opening deposit
  • Must maintain a minimum average daily balance of $1000 to obtain the disclosed annual percentage yield
  • Free Online Banking
  • IB Corp available
  • Bill Pay available
  • Free eStatements available
  • Independence Bank Visa® Business Debit Card is available
  • Free return of front check images
  • $6 monthly maintenance fee
  • $.12 per check or debit item
  • $.06 per credit item
  • $.06 per item within a deposit
  • Debit and credit card merchant services available
  • Interest is paid on average daily balance.  The interest rate and annual percentage yield may change.  The average daily balance method applies a periodic rate to the average daily balance in the account for the period.  The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. 

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

For a brief overview of ACH rules, please click here for the ACH Originator Quick Reference Guide 

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!