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Midwest Bank of Western Illinois

Agribusiness Banking

Based upon how your Farming Operation has been established, any of the following accounts may be available to you.  To determine which account best suits your business needs, please see one of our Personal Bankers.

Prospective depositors and/or borrowers must be of legal age to apply for a loan or deposit accounts.  All Midwest Bank checking accounts can be accessed by ATM, Debit Card and online at www.mbwi.com.  Free Bill Pay, Free Internet Banking and unlimited ATM transactions are available at Midwest Bank owned machines. Surcharge fee ATM transactions at SHAZAM Privileged Status ATMs.  Customers will receive a monthly statement with all checking accounts.  Overdraft privileges available, for details see a Personal Banker.

 

Hometown Checking

Designed for customers who do not want a monthly service charge.

Featuring:

  • No minimum balance requirement
  • Duplicate copies of all checks written
  • This account does not receive check images with monthly statement
  • Limitations: You must deposit $100 to open this account
    (This product is only available to personal, sole proprietorship and trusts)
  • Account Fees:  No Monthly Maintenance Fee

 

Midwest Premier Checking

A package account for customers who prefer a variety of services for one monthly fee.

Featuring:

  • No minimum balance requirement
  • Unlimited deposit & withdrawals
  • Accidental death & dismemberment insurance at a low monthly fee
  • Free Wallet Specialty Blue Checks
  • 50% discount on specially selected personalized checks
  • 50% discount on stop payment fees, money orders & cashiers checks
  • Free Travelers checks
  • $5.00 annual Safe Deposit Box Credit
  • Customer receives a reduced rate on Installment Loans of $2,000 or more
  • Check images provided with monthly statement
  • Limitations: You must deposit $100 to open this account
  • Account Fees: Monthly service charge = $7.00 for $10,000.00 Accidental Death Insurance. $8.00 for $20,000.00 Accidental Death Insurance

 

Access Now – Electronic Banking

This account is created for customers who prefer to manage their accounts electronically.  It’s convenient, fast and secure, totally electronic banking with interest.  Access your account via Internet Banking and use your debit card to make purchases or withdrawals.

Featuring:

  • No minimum balance requirement
  • No need to order checks
  • No need to purchase stamps
  • Plus earn a higher rate of interest than our regular NOW account!!
  • Limitations: You must deposit $100 to open this account
  • Account Fees: $5.00 service charge will be assessed if a check is written against the account.
    The Interest rate is variable and subject to change as determined by the bank. 
    The interest accrues each day on the daily balance and is credited and at the end of every four (4) weeks or similar period.

 

Personal Now Checking

Designed for customers who maintain a medium balance in their checking account.

Featuring:

  • Interest income
  • Allows consolidation of checking and savings account balances
  • Unlimited deposit and withdrawals
  • Check images provided with monthly statement
  • Limitations: You must deposit $500.00 to open this account
  • Account Fees: $7.00 monthly service charge if the daily balance drops below $500 at any time during every four (4) week or similar period.
    The interest rate is variable and subject to change as determined by the bank.
    Interest accrues each day on the daily balance and is credited at the end of every four (4) week or similar period.

 

Capital Plus Checking

Designed for customers that maintain a high balance

Featuring:

  • Earns premium deposit rates
  • Rate adjusts monthly
  • No broker fees or commissions
  • 100% funds availability
  • No fixed terms or maturity
  • Check images provided with monthly statement
  • Limitations: You must deposit $25,000.00 to open this account
  • Account Fees: No monthly service charge fee when you maintain a $25,000.00 minimum daily balance.  Should the daily balance fall below $25,000.00 during the statement cycle, a $25.00 monthly charge will be assessed.  Balances below $25,000.00 interest is paid at the Midwest Bank’s NOW account rate currently in effect. Interest is variable and subject to change as determined by the bank. Interest accrues each day on the daily balance and is credited at the end of every four (4) week or similar period.

 

Fabulous 50’s Checking

Designed for customers 50 years of age or better

Featuring:

  • Earns interest on your account balance
  • No minimum balance requirement
  • Unlimited deposits or withdrawals
  • Free Wallet Specialty Blue Checks
  • 50% discount on specially selected personalized checks
  • Free Travelers checks
  • Auto Owners Insurance Discounts
  • 50% discount on money orders & cashiers checks fees
  • Trust, estate and financial planning consultation
  • Free membership into the Fabulous 50’s Discount Program
  • Check images provided with monthly statement
  • Limitations: You must deposit $100.00 to open this account
  • Account Fees: No monthly service charge.  The interest rate is variable and subject to change as determined by the bank. Interest accrues each day on the daily balance and is credited at the end of every four (4) week or similar period.

 

Personal Money Market Checking

Designed for customers who write a minimum number of checks per month.  A money market account earns a higher rate of interest than a checking account without the long-term commitment of a certificate of deposit.

Featuring:

  • Money Market rates on funds that are federally insured
  • $5.00 per transaction charge if more than 6 transfers clear the account during every four (4) week or similar period
  • Check images provided with monthly statement
  • Limitations: You must deposit $1,000 to open this account.  You may make six (6) transfers from your account each four (4) weeks or similar period, if by preauthorized or automatic transfer, or telephone (including data transmission) agreement, order or instruction.  Transfers and withdrawals made in person, by messenger, by mail or at an ATM are unlimited.
  • Account Fees: No monthly service charge if you maintain a daily balance of $1,000 during the statement cycle.  If the daily balance falls below $1,000 you will be assessed a $7.00 monthly service charge fee.  Regardless of balance, you will be assessed a $5.00 per check charge if more than six (6) total checks clear the account during a statement cycle.  The interest rate is variable and subject to change as determined by the bank.  Interest accrues each day on the daily balance and is credited at the end of every four (4) week or similar period.

 

Small Business Checking

This special, small business checking account features no monthly maintenance fee.

  • No minimum balance requirements
  • First 50 debits and credits, no charge
  • Per Debit Fee:  First 50 debits, no charge. Each debit over 50 is $.25.  Per Deposited Items, First 50 credits, No Charge.  Each credit over 50 is $.10

 

Commercial Checking

This business account gives you the opportunity to offset some, or all of the fees with the balance you keep in the account.

  • Minimum balance requirement $500
  • Monthly Maintenance Fee:  $8 if daily balance falls below $500 any day during the four (4) week or similar period
  • Per Debit Fee:  $.15 charge per item debited
  • Per Deposited Item:  $.07 charge per item deposited
  • Credit Analysis Allowance:  $.10 credit analysis allowance per $100 in excess of $500

 

Commercial NOW Checking

Earn interest on your Commercial NOW Account.  (This product is not available to Partnerships or Corporations for Profit)

  • Interest bearing account
  • Minimum balance requirement $500
  • Monthly Maintenance Fee:  $7 if daily balance falls below $500 any day during the four (4) week or similar period
  • Per Debit Fee:  $.15 charge per item debited
  • Per Deposited Item:  $.07 charge per item deposited
  • Credit Analysis Allowance:  $.10 credit analysis allowance per $100 in excess of $500

 

Commercial Money Market Checking

For business customers who write a minimal number of checks per month, and want to earn interest.  A money market account earns a higher rate of interest than a checking account without the long-term commitment of a certificate of deposit.

  • Money Market rates on funds that are federally insured
  • Minimum balance requirement of $1,000
  • $7 monthly service charges if balance falls below $1,000
  • Limitations:  You may make six (6) transfers from your account each four (4) week or similar period.
  • Account Fees:  $5 per check charge if more than 6 total checks clear the account during a statement cycle.  Transfers and withdrawals made in person, by messenger, by mail or at an ATM are unlimited.
   
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