Business Deposit Products
At Monona Bank, we understand that your business accounts are a critical element to your company's success. We can help you determine what will or what won't work best for you. Below is an overview of the business checking accounts we offer. For more detailed information on options available to you, please feel free to contact any one of our business associates and let them know your specific needs. We're here to assist you!
What is your business looking for?
Business Checking
True Business Checking
- No minimum balance requirement
- Unlimited items (Debit and Credit)
- Business Online Banking
- Unlimited Bill Pay
- Mobile Banking with up to 40 mobile deposits per month
- QuickBooks Integration
- Business credit and debit card with ScoreCard® Rewards on all eligible signature purchases
True Business Checking Plus
- All the great features of True Business Checking with the ability to add Cash Management Products including:
- ACH Origination
- Remote Deposit Capture
- Fraud Protection Products
Commercial Checking
- Best for businesses with higher monthly transaction volume and higher monthly balances
- Enjoy unlimited deposit and check writing with the ability to offset activity fees through maintained balances
- Earnings credit based on collected balance minus reserve requirements
- Business credit and debit card with ScoreCard® Rewards on all eligible signature purchases
True Non-Profit Checking
- Designed for non-profit organizations operated primarily for religious, philanthropic, charitable, educational, political and other purposes
- No minimum balance requirement
- Unlimited items (Debit and Credit)
- Unlimited Bill Pay
- Business Online Banking
- QuickBooks Integration
- Business credit and debit card with ScoreCard® Rewards on all signature purchases
True Non-Profit Plus Checking
- All the great features of True Non-Profit Checking with the ability to add Cash Management Products including:
- ACH Origination
- Remote Deposit Capture
- Fraud Protection Products
- Business credit and debit card with ScoreCard® Rewards on all signature purchases
Interest on Lawyer Trust Account/Interest Bearing Real Estate Trust Account
- Interest earned on IOLTA paid monthly to Wisconsin Trust Account Foundation
- Interest earned on IBRETA paid annually to the Wisconsin Department of Commerce
Business Savings & Investments
Business Savings
Our Business Savings Account is a great product that lets your business earn interest (calculated using the daily available balance) and credited and compounded monthly.
Business Money Market
Our Business Money Market is a great next step for businesses who’ve saved more money than they need to keep in their Business Savings account. There is a $2,500 minimum deposit to open this account and a required minimum daily balance of $2,500 in order to avoid the $15 monthly maintenance fee. Interest rates for the Business Money Market are tiered based on the balance you have in your account.
Certificates of Deposit
Fixed interest rate varies with the term of each certificate.
Business Health Savings Accounts (HSA)
Benefits to Using Monona Bank as Your Preferred HSA Partner
- Like You, We Keep It Local – HSA account benefits are mandated by the government which means convenience, fees and relationships make the biggest difference when choosing a HSA vendor.
- Convenient Access to Banking Advisors – Just like you experienced when you opened your business account with Monona Bank, you can be confident we’ll provide the same high level of service to your employees. Your reputation with your employees is important to us.
- No Account Minimums or Low Balance Fees – Help your employees get the best possible deal. Account holders shouldn’t have to worry about these fees as they grow and use their deposits.
- Easy Account Access – Your employees will have access to their funds with an HSA VISA® Debit Card. Checking account clients can even transfer money between accounts online for more convenience. Of course, distributions can always be made in-person at any of our nine convenient locations.
Having banked with big, corporate banks in the past, I can honestly say that Monona Bank is not only a great banking partner, but a true community bank who cares about and gets involved with our communities.
The Tools You Need For Your Business
Cash Management Solutions
Monona Bank offers our business clients a variety of solutions from collection of your receivables, to disbursements, payments, transfers, fraud protection, and MononaBank Business Online.
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Bank Card Services
Monona Bank offers our business clients both VISA® Credit and Debit cards. They can make tracking your business expenses easier and help prevent fraud as well.
Our VISA® Debit cards also let you turn your everyday purchases into rewards points that you can redeem for travel, merchandise, gift cards and cash back! Your Monona Bank VISA® Debit card is automatically enrolled in our ScoreCard® Rewards Program.
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