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Business – Deposit Accounts

Checking

Business Banking from First National Bank of McHenry is designed with four distinct business banking solutions that will fit all shapes and sizes of business. Whether your business requires a low cost solution for minimal account activity or a high volume solution, one of our business accounts certainly will meet your needs while keeping costs in line.

 Small Business Checking


The perfect account for a low volume or start up business. This account will be treated as a free account provided the number of monthly processed items is less than 100. If the amount of monthly processed items happens to exceed 100, you will have the option of maintaining a minimum balance of $1000 in order to have the $5 statement charge waived. This will also afford you the luxury of being able to process an additional 100 items at no additional cost.

Online Business Bill Payment Gateway

 Small Business Pricing Chart

*Items are defined as deposit tickets, checks deposited, checks written, ACH (electronic) deposits / credits, and ACH (electronic) withdrawals / debits.

Features for this account include

Regular Business Checking


Regular Business Checking is the ideal account for businesses that will have larger volumes of activity. Similar to Small Business Checking (above), the first 100 items processed are free of charge without any minimum balance to maintain. However, for larger volumes of processed items, this account will provide value to your business by allowing up to 400 items to be processed without a monthly fee, provided a $5000 minimum balance is maintained.

Regular Business Pricing Chart

*Items are defined as deposit tickets, checks deposited, checks written, ACH (electronic) deposits / credits, and ACH (electronic) withdrawals / debits.

Features for this account include

Commercial Analysis Checking


The Commercial Analysis Checking Account is designed for businesses with a higher volume of checking activity or wish to use funds on deposit to offset some or all of their monthly activity fees. Commercial Analysis Checking applies a reasonable fee based on the exact level of account activity; this fee is reduced based on the amount of average collected balance maintained in the account. This credit back is called an Earnings Credit and explained below.

The fee structure for this account is:

A base earnings credit indexed to the 3-Month Treasury Constant Maturity Rate (which can vary monthly) will be applied to the average daily balance. This earnings credit can be used to offset processing fees as well as most other miscellaneous bank fees.

Features for this account include

Not for Profit Organization Checking


If your organization, group, or association has attained not for profit status as designated by IRS code 501 3(c), you are eligible for one of the best commercial accounts in the area. The First National Bank of McHenry offers these types of organizations an interest bearing commercial account with no minimum balance to maintain. We will pay a competitive interest rate on all balances on deposit in your account on a monthly basis while never being assessed a service charge. Interest is calculated daily and paid monthly. Closing the account prior to interest posting will result in a forfeiture of all interest earned for that month.

Features for this account include

Business Money Market & Savings

Commercial Money Market Account


Earn a premium money market rate on all your business balances and enjoy the convenience of easy access to your account with our Commercial Premier Money Market Account. Your funds can be accessed by writing convenient money market checks to third parties, in person with one of our friendly and helpful tellers, or via technology through one of our various electronic delivery channels. Top tier balances earn an interest rate comparable to the yield on the short term Treasury Securities on the open market, complete with FDIC insurance. With an innovative five tier rate structure, you are sure to earn maximum dollars with a high degree of access to your funds when needed. All five rate tiers reset monthly to assure you that your rate never becomes stagnant.

Minimum balance of $10,000 required to avoid a monthly $10 account handling charge. Interest is calculated daily and paid monthly. Closing the account prior to interest posting will result in a forfeiture of all interest earned for that month.

Six pre-authorized debit transfers per month are allowed. Of which, three may be made by check to third parties. There is no limit to the number of withdrawals or deposits made in person or by mail.

There are no activity charges for the first 20 processed items*. After which,

*Items are defined as deposit tickets, checks deposited, checks written, ACH (electronic) deposits / credits, and ACH (electronic) withdrawals / debits.

Commercial Statement Savings Account


This is the perfect account for either the small start-up business or the larger commercial account that wishes to have funds in reserve in the event of an accidental overdraft. Because of its low cost and fairly positioned minimums to avoid a monthly account handling fee, the Commercial Statement Savings Account is ideal for low transaction volume businesses. As an owner of this account, you will enjoy unlimited transactions to your account in person.

A minimum balance of $500 required to avoid a monthly $2 account handling charge.

Interest is calculated daily and paid monthly. Closing the account prior to interest posting will result in a forfeiture of all interest earned for that month.

Six pre-authorized debit transfers are allowed per month. There is no limit to the number of withdrawals or deposits made in person or by mail.