The Best Business Checking Accounts

    Let's find an account that fits your business

    SCHEDULE A MEETING

    HAVE A QUESTION? WE'LL CALL YOU BACK.

    Feel free to call (937) 498-1195

    All Business Checking Accounts Include:

    Credit Card

    Business Debit Card and Credit Card

    Each account type can request a debit card that is linked to their account or apply for a credit card.

    Check MF

    Free Check Imaging

    Each account type will have access to free images of their checks in their mailed monthly statements and within online banking.

    Phone MF

    Telebanking

    Check account balances, account history, and more 24/7 via telephone.

    Transfer MF

    Free Transactions

    Each account type allows a specific number of free transactions each month.

    Transaction MF-1

    Merchant Services

    (Optional Service)
    Set your business up to accept credit and debit card payments through Mutual Federal.

    Coins MF

    Business Overdraft Solutions

    (Optional Services)
    Make a back-up plan to avoid non-sufficient fund items.

    Secure computer MF

    Business Internet Banking

    (Optional Packages Available)
    Manage your bank accounts online or on the go conveniently and securely. 

    Learn More About Business Internet Banking

    Gears MF

    Cash Management Services

    (Optional Service)
    Manage your bank accounts and optimize your cash flow.

    Learn More About Cash Management Services

    Mutual First Class Business Checking

    Ideal for businesses with low and predictable monthly transaction activity.

    $10/mo.

    $5,000 minimum daily balance OR $10,000 deposit relationship to avoid monthly fee

    $500 opening deposit

    Up to 150 free transactions each month

    $0.35 charge per transaction after 150

    Mutual Business Select Checking

    Ideal for businesses that maintain a higher balance and moderate to high monthly transaction activity.

    $15/mo.

    $25,000 minimum daily balance OR $100,000 deposit relationship to avoid monthly fee

    $1,000 opening deposit

    Up to 500 free transactions per month

    $0.35 charge per transaction after 500

    Mutual Business Select Plus Checking

    Ideal for businesses that maintain higher balances and wish to earn interest on those balances.

    $15/mo.

    $25,000 minimum daily balance OR $100,000 deposit relationship to avoid monthly fee

    $1,000 opening deposit

    Tiered interest plan

    Up to 350 free transactions per month

    $0.35 charge per transaction after 350

    Additional Account Options

    Mutual Business Analysis Checking

    Ideal for businesses with higher balances and high transaction activity.

    $1000 Opening Deposit

    Variable Monthly Service Charge

    Service charges for this account are based on a monthly analysis. Receive earnings credit to offset the monthly fee.

    Let's Talk!

    If you are interested in a checking account bundled with services that meet your specific needs, let's have a conversation.

    Mutual Sole Proprietor Checking

    Ideal for a sole proprietor with minimal account activity who wants simple and affordable solutions.

    $500 Opening Deposit

    $5.00 Monthly Service Charge

    Reduce the maintenance fee to $3.95 with enrollment in eStatements OR maintain a $500 minimum daily balance or $5,000 deposit relationship that includes a personal checking account to eliminate the service charge completely. 

    Transaction Limitations Apply

    Up to 50 free transactions per month. A $0.30 charge will be assessed for each transaction over 50.

    Tiered Interest

    Interest is earned based on the account balance.

    Free Internet Banking

    Manage your accounts anytime, anywhere. Access eStatements, transfer money, make payments and much more.

    Mutual Community Companion Checking

    This account is designed for local and community-based non-profit organizations with low transaction volume.

    $500 Opening Deposit

    $5.00 Monthly Service Charge

    Reduce the maintenance fee to $3.95 with enrollment in eStatements OR maintain a $500 minimum daily balance or $5,000 deposit relationship to eliminate the service charge completely. 

    Transaction Limitations Apply

    Up to 50 free transactions per month. A $0.30 charge will be assessed for each transaction over 50.

    Tiered Interest

    Interest is earned based on the account balance.

    Free Internet Banking

    Manage your accounts anytime, anywhere. Access eStatements, transfer money, make payments and much more.

    Are you ready to discuss checking solutions for your business?

    SCHEDULE A MEETING HAVE A QUESTION? WE'LL CALL YOU BACK.
    on-laptop-balancing-the-books

    Business Overdraft Protection

    Automatically transfer funds to your business checking account from another business account you have at Mutual Federal to cover overdrafts. For just $7 per transfer*, you can avoid the inconvenience of "non-sufficient funds". 

    What Else You Should Know

     

    Biz-Checking-ODPrivledge-opt

    Business Overdraft Privilege

    For additional protection, Overdraft Privilege allows you to overdraw your account up to the disclosed limit for $30 per item in order to pay a transaction. If you have Business Overdraft Protection, Business Overdraft Privilege is still available as secondary coverage if needed. 

    Standard coverage includes checks, ACH-automatic debits, recurring debit card payments, online Bill Pay items, internet banking transfers, telephone banking, and teller window transactions. 

    Extended coverage includes all transactions in the standard coverage PLUS ATM withdrawals and everyday debit card transactions with your consent.

    What Else You Should Know

     

    Whether your business is big or small, we have the perfect checking account for you! We have several products that will meet any financial need you have.

    -Lisa C., CSR Piqua Downtown

    Frequently Asked Questions

    What items are considered transactions?

    Transactions include deposits, deposited items, in-clearing checks, electronic debits and electronic credits.

    What documents are needed to open a business checking account?

    The documents required to open a business checking account at Mutual Federal depend on the classification of the business.

    All of our accounts require two valid forms of identification for each owner, partner, managing member, or authorized signer on the account. 

    Here's some of the documents you will need to open your account:

    Sole Proprietorship

    • Social Security or EIN Number
    • Sole Proprietorship Resolution of Authority
    • Assumed Name Certificate (if applicable)

    Limited Liability Company (LLC)

    • EIN Number (Single-member LLC may use SSN)
    • LLC Authorization Resolution
    • Articles Stamped "Filed'" or Certificate of Existence
    • Operating Agreement (should state who is authorized to open the account, usually the managing member)

    Corporate Accounts: Non-Profit, For-Profit, Government Entity

    • EIN Number
    • Corporate Resolution
    • Certified copy of Articles of Incorporation or Certificate of Existence
    • Certificate of Good Standing, address and date of birth on all authorized signers

    Club or Civic Organization

    • EIN Number
    • Resolution of Lodge, Association, or other similar organization
    • Bylaws or similar document outlining the purpose of the organization

    If you have questions regarding your necessary documentation, any of our new account representatives will be happy to assist.

    © 2024 Mutual Federal
    Navigation
    Contact

    121 S. Ohio Avenue
    Sidney, OH 45365

    Routing Number: 274970791

     

    FDIC-EHL

     

    If you use links provided on the Mutual Federal website that redirect to a third party website, you are acknowledging that you are leaving www.mutualfederal.com and are going to a website that is not operated by Mutual Federal, a division of First Bank Richmond. Mutual Federal is not responsible for the content or availability of linked sites. Mutual Federal does not represent either the third party or the visitor if a transaction is entered. In addition, privacy and security policies may differ from those at Mutual Federal.