Business Checking
Are you looking for a convenient and affordable Business Checking account in Central Illinois? At Flanagan State Bank, Business Checking Accounts are low-cost and provide next-day availability on most deposits. Ask us about special earnings credits and other opportunities to save.
We know you are busy running your business. We form partnerships with each of our business customers and won’t see you as just another number like the big banks. Let us share our “hometown service” with you. Customer service isn’t just a slogan with us – it’s how we do business every day.
Current Rates
PLEASE NOTE: APY assumes interest remains on deposit. A withdrawal or fees could reduce earnings. A penalty will be imposed for early withdrawal. Rate changes are made at the Bank’s discretion. Rates are subject to change without notice.
Interest Bearing Checking Accounts
| Type | Minimum Deposit to Open | Variable Interest Rate | APY* | Interest Frequency | Early Withdrawal Penalty |
|---|---|---|---|---|---|
| Interest Checking** | $1,000.00 | 0.05% | 0.05% | Monthly | none |
| Business Interest Checking** | $2,500.00 | 0.03% | 0.03% | Monthly | none |
Learn more about each of our business checking options and see which is right for you:
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Traditional Business Checking
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Small Business/Not-for-Profit Statement Checking
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Business Checking With Interest
Call or visit your nearest location to discuss your options and get started.
Frequently Asked Questions
Q: What are the requirements to open a business checking account at Flanagan State Bank?
A: To open a business checking account with us, you’ll need to provide a valid form of identification, such as a driver’s license or passport, along with your business’s tax identification number. Additionally, you should bring proof of your business’s legal structure, such as articles of incorporation or partnership agreements.
Q: What is the minimum deposit required to open a business checking account?
A: The minimum deposit to open a business checking account at Flanagan State Bank is $100. This initial deposit helps ensure that your account is properly funded and ready to meet your business’s banking needs.
Q: What features and benefits come with a business checking account at Flanagan State Bank?
A: Our business checking accounts offer a range of features and benefits tailored to meet the needs of businesses in our community. These include unlimited check writing, online banking access, free eStatements, overdraft protection options, and the ability to link your account to other business banking services like Remote Deposit and ACH Origination.
Q: Can I access my business checking account online?
A: Yes, Flanagan State Bank offers convenient online banking access for our business checking customers. With our Business Manager online banking platform, you can securely manage your account, view transaction history, make transfers, and pay bills from anywhere at any time.
Q: What is Remote Deposit, and how does it work for businesses?
A: Remote Deposit is a service provided by Flanagan State Bank that allows businesses to deposit checks into their business checking accounts electronically without needing to visit a physical branch. By using a desktop scanner or mobile device, you can capture images of your checks and submit them for processing through our secure online system, saving you time and improving cash flow.
Q: How can I initiate ACH payments and collections with my business checking account?
A: Flanagan State Bank offers ACH Origination services, which allow businesses to initiate electronic payments and collections. Through our ACH Origination service, you can securely transmit funds electronically, whether it’s to pay your vendors or collect payments from your customers, improving efficiency and reducing paperwork.
Q: Are there any fees associated with Flanagan State Bank’s business checking accounts?
A: While there may be certain fees associated with specific transactions or services, we strive to keep our fees competitive and transparent. Please refer to our individual business checking pages for details on the fees that may apply, and feel free to reach out to our dedicated team for further clarification.
Q: Can I link my business checking account to other business banking services?
A: Absolutely! Flanagan State Bank offers a range of business banking services that can be seamlessly linked to your business checking account. This includes Remote Deposit, ACH Origination, and our Business Manager online banking platform, providing you with a comprehensive suite of tools to manage your business finances efficiently.
Q: How can I reorder checks for my business checking account?
A: Reordering checks for your business checking account is easy with Flanagan State Bank. You can conveniently reorder checks through our preferred check provider by visiting our order checks page.
