Business Checking

We provide a consultative approach to our business accounts. We’ll review your transaction history and listen to you to truly understand your financial needs. Then, we’ll recommend the most appropriate and cost effective account for your banking habits. Your business account will be assigned a Banker, who will serve as a knowledgeable resource to help manage your account - so you can focus on expanding your business rather than worrying about your finances.

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Small Business Checking

Our checking account is designed for customers such as small businesses, sole proprietorships and non-profit organizations with moderate monthly activity.

  • $200 minimum business checking
  • No monthly service fee with a $200 balance (if balance falls below $200 at any time during the month, a $5.00 service fee will be assessed and a $.20 per debit fee will be applied for each debit during the statement cycle)
  • Companion services included with Small Business Checking: Debit Card, Online Banking, Mobile Banking, Business Mobile Deposit, Bill Pay, and eStatements
  • Several styles of business or personal checks to choose from

Commercial Checking

Commercial Checking accounts are designed for corporations with a higher volume of activity.

  • Earnings credit is given for the average collected balance in your account during the statement cycle. This credit is applied towards transaction charges.
  • Companion services included with Commerical Checking: Debit Card, Online Banking, Mobile Banking, Business Mobile Deposit, Bill Pay, and eStatements.
  • Monthly maintenance fee $10.00
  • Checks paid $0.15
  • Checks deposited (not on us) $0.06
  • Checks deposited (on us) $0.00
  • Deposits (per deposit slip) $0.00
  • Chargebacks $3.00
  • Cash/Coin order $0.00

Business Checking FAQs

What documents do I need to provide to identify my business?

Important: Legal entities and/or fictitious/assumed names (DBAs) need to be registered with the MN Secretary of State (SOS) prior to opening an account. A current, non-expired Driver's License or U.S. Passport is required on each account owner and any authorized signer on the account. A physical business address and mailing address (if different) are also needed along with any additional entity documentation noted below:

Sole Proprietorship: Occupational License (if required)
General Partnership: Partnership Agreement (for other types of partnerships, additional documentation may be needed)
Corporation: Articles of Incorporation and Bylaws
Limited Liability Company (LLC): Articles of Organization and Operating Agreement

Please note the entity name and/or fictitious/assumed name (DBA) need to be used exactly as shown on the MN SOS site to label the bank account. Please ensure the name is registered accurately prior to opening an account.

What information do I need to provide for authorized signers?

Each authorized signer on the account needs to provide a valid driver's license and his/her social security number in addition to their current address.

What tax ID numbers are needed?

In the case of a sole proprietorship, the tax identification number needed will generally be the owner's social security number. For other types of businesses, a federal tax identification number will need to be provided.

What is the minimum deposit to open a new account?

The minimum deposit to open an account is $200.00.

Personalization Settings

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Community Bank would like to personalize your banking experience. Please enter your first name below.

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