Business Checking : Choose The Way You Earn!
Pick How You
Get Paid
Instant Issue
Debit Cards
Secured
Storage
Flexible Account
Management
Choose between Rewards Checking and gain rewards on eligible debit card purchases, or Premium Checking for higher interest rates on higher balance accounts. Iowa Falls State Bank has the perfect account to help you earn more.
Get access to your funds immediately with our Instant Issue Debit Cards! Whether you’re opening a new account, replacing a lost card, or simply need a new debit card quickly, we’ve got you covered.
Our Business Checking Accounts provide a secure way to store your funds with the flexibility your business needs. With FDIC insurance, your deposits are protected, allowing you to manage your cash reserves confidently.
Current Rates
Type | Interest Rate ² | APY ¹ | Minimum Balance |
|---|---|---|---|
Premium Checking | 1.00% | 1.01% | $10,000 |
Business Reward Checking
Customers receive a Reward Credit that is calculated as 0.25% times the total amount of point of sale (POS) debit card transaction posted to the account between the first banking business day and the last banking business day of the month. Reward credit rate is subject to change. Maximum reward of $30 per statement cycle.
Types of Business Checking Accounts
The Reward Credit: Calculated as 0.25% times the total amount of point of sale (POS) debit card transaction posted to the account between the first banking business day and the last banking business day of the month. Reward credit rate is subject to change. Maximum reward of $30 per statement cycle.
When is it Paid: The Reward Credit will be credited to your account at the end of every month.
Minimum Balance to Avoid Fee: No minimum
Monthly Fees: A $5 print statement fee per month; print statement fee will be waived for customers who are enrolled in e-statements
Statements: E-Statement or mailed to customer monthly (check images not included).
Debit Cards: Includes up to two instant issued debit cards; $10 per card for each additional card
Interest: Variable Interest Rate
When is it Paid: Interest will be compounded and credit to your account every month.
Minimum Balance to Avoid Fee and Obtain APY: $10,000
Monthly Fees: $10 service charge per month if the balance drops below $10,000
A $5 print statement fee per month; print statement fee will be waived for customers who are enrolled in e-statements
Statements: E-Statement or mailed to customer monthly (check images not included).
Debit Cards: Includes up to two instant issued debit cards; $10 per card for each additional card
Identification Required to Open a Business Checking Account
Each signor will need one of each primary and secondary forms of identification to open a Business Checking Account at our financial institutions. Additional address verification may be required if current address does not match that on the ID.
● Unexpired Driver’s License bearing the individual’s photograph
● Unexpired Passport bearing the individual’s photograph
● Unexpired State Photo Identification Card
● Current Military Identification Card
● Alien Registration Card
● Social Security Card
● Medicare, Medicaid or other insurance card
● Voter Registration Card
● Property Tax Bill
● Major Credit Card
Along with personal identification, please ensure you bring documentation that confirms the type of entity you operate.
To learn more about the documentation required and find helpful resources please click here.
● Social Security Number
● One of the following:
1. Trade Name Certificate
2. Insurance paperwork with DDA (Doing Business As) listed
3. Another official document bearing the DDA name
● Employee Identification Number (EIN), or Tax Identification Number (TIN)
● Certificate of Limited Partnership (Secretary of State)
● Partnership Agreement
The bank will confirm with Secretary of State the entity is in good standing.
● Employee Identification Number (EIN), or Tax Identification Number (TIN)
● Certificate of Organization (Secretary of State)
● Operating Agreement – If the entity consists of two or more members
The bank will confirm with Secretary of State the entity is in good standing.
● Employee Identification Number (EIN), or Tax Identification Number (TIN)
● Articles of Incorporation
● One of the following:
1. Corporate Charter
2. Corporate Bylaws
The bank will confirm with Secretary of State the entity is in good standing.
Business Banking Made Simple
Choosing the right business checking account is essential for managing your company’s finances effectively. Business checking accounts at Iowa Falls State Bank are designed with flexibility and convenience in mind, offering a range of features to suit the needs of businesses of all sizes. We offer an account that rewards you based on your debit card spending, providing valuable perks as your business grows. Alternatively, our interest-bearing account allows you to earn competitive rates on your balance, helping your funds work harder for you. Whether you’re looking for rewards or interest, we have the right solution to support your business’s financial goals.
Business Reward Checking | Business Premium Checking | Reward Credit & Interest | Calculated as 0.25% times the total amount of point of sale (POS) debit card transaction posted to the account between the first banking business day and the last banking business day of the month. Reward credit rate is subject to change. Maximum reward of $30 per statement cycle. | Variable Interest Rate. Business Premium Interest rate subject to change. |
|---|---|---|
How is it Paid | The Reward Credit will be credited to your account every month. | Interest will be compounded and credited to your account every month. |
Minimum Balance to Avoid Fee & Obtain APY/Reward Credit | No minimum | $10,000 |
Monthly Fee | A $5 print statement fee per month; print statement fee will be waived for customers who are enrolled in e-statements | $10 service charge per month if the balance drops below $10,000
A $5 print statement fee per month; print statement fee will be waived for customers who are enrolled in e-statements |
Statements | E-Statements or mailed to customer monthly (check images not included) | E-Statements or mailed to customer monthly (check images not included) |
Debit Cards | Includes up to two instant issued debit cards; $10 per card for each additional card | Includes up to two instant issued debit cards; $10 per card for each additional card |
Stop in, or give us a call at (641) 648 – 5171, to help you find the best accounts for your needs!
How To Video's: Navigating the Mobile Banking App
We’ve put together a series of straightforward video tutorials to help you easily enroll in e-statements and make basic transfers using our mobile banking app. Each video walks you through the process step by step, ensuring you can confidently navigate all the features of your account. Additionally, we invite you to explore our full collection of how-to videos, where you’ll find a wealth of information on a variety of tutorials for our banking app.
The Patriot Act
Important Information About Procedures for Opening a New Account
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.
What this means for you
When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. In addition, we may also ask to see your unexpired driver’s license or other identifying documents.
Account Opening for a Legal Entity
We are required to ask you for identifying information (name, address, date of birth, social security number, as well as identification documents) for:
➣ Each individual that has beneficial ownership (25% or more)
➣ One individual who has significant managerial control of the Legal Entity
If you are opening an account on behalf of a Legal Entity, you will be required to provide the appropriate documentation and to certify that this information is true and accurate to the best of your knowledge.