Effective January 1, 2024, business owners may be required to complete a beneficial ownership report with FinCEN (Financial Crimes Enforcement Network) as required by federal law. Click here to see if you need to register.
More Bank For Your Business
If you need a checking account for your business, First Federal Bank has got your back. Whether you’re an established business or a sole proprietor just starting out, our local team of experts is here to guide you in the right direction.
| Business Checking Account |
Service Charge
(Assessed Monthly)
| Balance to Avoid Charge | Interest Rate Information | Additional Benefits and Other Information |
|---|
| Business Checking |
None
|
N/A
|
N/A
|
Available to small businesses, DBA’s, sole proprietors, estate accounts, and partnerships
- Minimum opening deposit of $100
- $.50 per transaction over 100
- Check and deposit images with monthly statement
- Free Business Debit Card and Online Banking
- Overdraft Privilege
|
| Advantage Business Checking |
$8*
|
N/A
|
N/A
|
Available to businesses and other non-personal accounts
- Minimum opening deposit of $100
- $.20 per check charge*
- $.15 per deposit*
- $.055 per deposit item*
- $1 per deposit adjustment
- Earnings credit applied against account fees
- Analysis statement available online†
- Check and deposit images with monthly statement
- Free Business Debit Card and Online Banking
- Overdraft Privilege
|
| Business Interest Checking |
None
|
N/A
|
Earns interest on balances over $1,000
|
Available to small businesses, DBA’s, sole proprietors, and partnerships
- Minimum opening deposit of $100
- $.50 per transaction over 100
- Check and deposit images with monthly statement
- Free Business Debit Card and Online Banking
- Overdraft Privilege
|
| Advantage Business Interest Checking |
$8*
|
N/A
|
Earns interest on Excess Net Investable Balance
|
Available to businesses and other non-personal accounts
- Minimum opening deposit of $100
- $.20 per check charge*
- $.15 per deposit*
- $.055 per deposit item*
- $1 per deposit adjustment
- Earnings credit applied against account fees
- Analysis statement available online†
- Check and deposit images with monthly statement
- Free Business Debit Card and Online Banking
- Overdraft Privilege
|
| Advantage Business Money Management |
$7
|
$2,500 average balance
|
Varies, based on the applicable interest rate and APY**. Tiered rateson ledger balance of:
- $0 to $2,499;
- $2,500 to $49,999;
- $50,000 to $99,999;
- $100,000 to $249,999;
- $250,000 or greater
|
Available to business and other non-personal accounts
- $2,500 minimum opening deposit
- Must maintain a First Federal Bank checking account
- No checks issued
- Limited to 6 pre-authorized automatic or electronic transfer debits per statement cycle, including sweeps; $7 charge thereafter
- Sweep feature available
|
| Zero Balance Checking |
$25*
|
N/A
|
N/A
|
Available to all account holders; used as a cash control system to move funds between accounts, such as payroll
|
| Community Organization Checking |
$5
|
$50
|
N/A
|
Available to not-for-profit organizations, civic, and church groups
- Minimum deposit of $50
- No per check charge
|
*Analysis Charge
**Annual Percentage Yield
† Analysis transaction will post by the 10th of the following month
To learn more about our business checking accounts, stop by your nearest First Federal Bank branch or contact us today.
|
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