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Midwest Bank of Western Illinois

Business Banking

Prospective depositors and/or borrowers must be of legal age to apply for a loan or deposit.

 

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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