Business Deposit LP
The right fit for every business.
First National Bank of Waterloo is
dedicated to serving all local businesses.
With personalized care and attention, plus a deep commitment to our communities, we are here to serve you and the unique needs of your business. Maybe you’re the sole employee or maybe you employ 50 of your neighbors. Or somewhere in between. No matter the size of your business, we provide the powerful tools you deserve to earn, thrive, and grow.
The right checking account: manage day-to-day business with greater ease.
We have business checking accounts that suit the size of your business, with interest-earning options that effortlessly put your money to work.
- FNBW Small Business Checking
- If your business experiences limited account activity, with check writing, deposits and deposited items under 300 per
month, you’ll enjoy the following features: - $500.00 minimum to open
- No monthly service charge with a $500.00 daily minimum balance
- $15.00 monthly service charge if balance falls below daily minimum balance
- 300 paper items processed free per month; $0.15 per each additional paper item over 300
- If your business experiences limited account activity, with check writing, deposits and deposited items under 300 per
- FNBW Business Checking
- If your business operates at a higher level of account activity, with check writing, deposits and deposited items over 300
each month, this account features: - $25.00 minimum to open
- $15.00 monthly service charge
- Earn credit for the balance maintained to offset monthly service charge
- Earnings credit is variable and can be changed at any time
- $0.15 for each paper item processed
- If your business operates at a higher level of account activity, with check writing, deposits and deposited items over 300
- FNBW Business Check Plus
- Earn interest on your balance while you keep your money accessible, and enjoy other benefits:
- $2,000.00 minimum to open
- No monthly service charge with a $2,000.00 daily minimum balance
- $15.00 monthly service charge if balance falls below daily minimum balance
- Earn interest regardless of balance
- Free unlimited check writing
- 100 paper items processed free per month; $0.15 per each additional paper item over 100
- FNBW Non-Personal Checking Account
- If your business is low-volume, this account provides what you need with minimum requirements:
- $25.00 minimum to open
- No monthly minimum balance
- 75 paper items processed free per month; $0.15 for each additional paper item over 75
- FNBW Non-Personal Check Plus Account
- This interest-earning account is designed for sole proprietors, not-for-profit, estates, organizations, and clubs:
- $1,000.00 minimum to open
- No monthly service charge with $1,000.00 daily minimum balance
- $10.00 monthly service charge if balance falls below daily minimum balance
- Earn interest regardless of account balance
- 75 paper items processed free per month; $0.15 for each additional paper item over 75
Savings and Money Market Accounts: your money works for you, without extra work from you.
With our business savings and money market accounts, you’ll earn competitive interest on your balances,
while keeping your funds available when you need them.
- FNBW Non-Personal Savings
- This account provides a competitive rate of interest on your business savings, and minimal balance requirements:
- $50.00 minimum to open
- No monthly service charge with a $50.00 minimum daily balance
- $3.00 monthly service charge if balance falls below daily minimum balance
- Competitive and variable rate of interest that is subject to change at any time
- Interest paid quarterly
- FNBW Business Money Market
- With tiered interest rates, your rate of return goes up as your balance goes up. Our business money market also features:
- $1,000.00 minimum to open
- No monthly service charge with a $2,500.00 daily minimum balance
- $10.00 monthly service charge if balance falls below daily minimum balance
- Competitive interest earned on all balances
- Higher rates tiered to larger balances
- Competitive and variable rate of interest that is subject to change at any time
FNBW also offers Certificates of Deposit. Choose from flexible terms and rates to meet your savings
goals, and enjoy FDIC insurance while you grow your money safely. $1,000.00 minimum to open.
NEW Business Services: Everything you need to make the day-to-day run smoothly.
With the help of our two business service partners, you’re sure to find everything you need to make each transaction and interaction seamless.
- Zelle®
- Zelle® is a fast, secure and easy way for small businesses to send, receive and request money typically within minutes1 with customers and eligible vendors they trust. If your customers use Zelle® within their financial institution’s banking app, they can send payments directly to your First National Bank of Waterloo bank account with just your email address or U.S. mobile number.
- Clover
- Clover Essentials is an all-in-one solution that allows businesses to take credit and debit card payments without a traditional Point-of-Sale (POS) device. With Clover Essentials, you can take card payments through a web browser, integrate payments to your website and manage your business through a single dashboard application. Clover Essentials is flexible to support different types of businesses and allows you to add additional features and devices when you need them. If you prefer a traditional POS system, we have you covered there too!
Digital Solutions: tools that make running your business less stressful.
From remote deposit capture to advanced fraud protection, our business bankers will tailor our services to the individual needs of your business. Offerings include:
- ACH
- Electronically deposit payroll for your employees, process your accounts payable and collect account receivables from your customers, all from your computer.Standard Origination is $20.00/month and $0.10 per record within file
- Wire Transfer Initiation
- Pay $10.00 per wire for this convenient service.
- Security Tokens
- Enhance security with this additional layer of authentication. A Physical Token is $20.00, a Digital Token is $19.00.
- Bill Pay
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Have one less thing on your plate by scheduling new and recurring payments to be made automatically each month. Your first 15
items per statement cycle are free; $0.50 per each additional item per statement cycle.
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Have one less thing on your plate by scheduling new and recurring payments to be made automatically each month. Your first 15
- Positive Pay
-
Protect yourself against forged, altered and counterfeit checks. This feature automatically matches the payee, account number,
check number and dollar amount of each check presented against a list of checks previously authorized and issued by your
company. $35.00 per month for checks and ACH.
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Protect yourself against forged, altered and counterfeit checks. This feature automatically matches the payee, account number,
- Remote Deposit Capture
- Scan and send your deposits electronically from your home or office for added convenience and greater processing efficiency:
- $35.00/month for single-feed with rental; each additional scanner $15.00/month
- $45.00/month for multi-feed with rental; each additional scanner $25.00/month
- Mobile Deposit
- Deposit checks to your business account right from your smartphone.
- Intuit Direct Connect
- Your free, two-way, and secure communication service for QuickBooks Desktop and Quicken that enables direct communication with FNBW servers for automatic transaction downloads, in-product bill payments, and bank transfers.
