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 a solo act. Maybe you’re a major local employer. 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
- 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:
- $100.00 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
- 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:
- $100.00 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
Cash Management Services: tools that make running your business less stressful.
From remote deposit capture to advanced fraud protection, from Bill Pay to fully-equipped Merchant Services, 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
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. - 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. $25.00 per month for checks; $10.00 per month for ACH. - 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
- Merchant Services
You can now process credit and debit card payments. We have point-of-sale terminals, touch-tone phone and wireless solutions for merchants on the go! This type of processing helps to reduce your exposure to insufficient funds. You will also receive monthly statements that summarize sales/returns from credit cards.
