Business Checking

Monroe County Bank has been at the heart of business banking since our founding in 1908. We value the trust that businesses have placed in our checking services and we work hard to service your account and handle your daily banking needs in a professional, yet friendly manner. Please take a moment to review the following account summaries.

Free Business Checking

The Free Business Checking is ideal for the smaller business and startup business. With this account you will not receive a service charge for transactions made, as long as you do no exceed 500 transactions (debits, credits and items deposited) per month. This account can be opened with $100 and does not require you to maintain a minimum balance.

  • 500 free transactions
  • No minimum balance
  • No monthly service charge
  • Free online banking
  • Free online bill pay
  • Free telephone banking

Business Analysis

Business Analysis checking allows you the freedom of compensating for services by keeping a sufficient balance to offset any processing costs. Commercial checking accounts are reviewed monthly to determine any applicable charges. Business Analysis is affected by two factors: the earnings credit on your investable balance and the activity in your account. The earnings credit is the rate of interest earned by the bank on your investable balance. The investable balance is calculated by taking your average monthly balance, subtracting float, and regulatory requirements.

Should your earnings credit exceed the activity charge, you will not be service charged. Should your earnings credit be less than the activity charge, you will be charged the difference. Business Analysis Accounts are only charged for the services used. Please contact a Customer Service Representative for applicable fees.

Business NOW Checking

For eligible businesses, this checking account will earn interest monthly and if you maintain a minimum balance of $1,000, you will earn interest and no service fees are applied. This account can be opened with $1,000. Business NOW Checking benefits include:

  • Interest is paid monthly based on the daily balance, no interest is paid on balances below $1,000.
  • NO service fee if you maintain a minimum balance of $1,000; otherwise, $5 per month plus $.25 per transaction
  • Visa CheckCard (subject to approval)
  • Current Business NOW Checking Rates