Set up future or recurring money transfers.Transfer funds between IBC deposit accounts.Access free e-statements for up to 18 months. View and print the balance and transaction history.IBC Bank’s online banking services allow you to: The service charge for this account depends on the investable balance, earnings credit, and the volume of transactions. Sufficiently covers the cost of services provided. Commercial Checking: Designed for companies with more transactions, this account has a $19.50 service fee that can be waived when the investable balance.Besides that, this account does not charge a monthly service fee. Depositing up to $3,000 monthly cash deposits is free and costs 8 cents per $100 beyond the limit. Biz Rite Checking: This is ideal for small businesses with a low number of transactions but is also suitable for clubs and nonprofits that make 250 or fewer transactions each month.IBC Bank provides two business checking accounts: IBC Bank Business Checking Features Scalable Business Checking Accounts IBC Bank Business Checking Overviewīefore opening an account, see our guide on how to open a business bank account, which includes a free downloadable checklist of commonly required documents. Check out our review of Relay Business Checking to learn how it helps streamline your business operations.Ĭheck out our top-recommended small business checking accounts for additional options. Besides that, the latter offers no incoming and low outgoing wire fees under its standard free account while IBC Bank does not waive its wire transfer fees. A good alternative is Relay, which offers up to 20 individual subaccounts with individual account numbers to help organize finances better. You want to open multiple subaccounts: IBC Bank does not offer subaccount options.See our Bluevine Business Checking review to learn more about its fee-free features. It provides up to 2.0% annual percentage yield (APY) for qualifying balances of up to $250,000 without requiring any maintaining balances. If an online account satisfies your needs, consider Bluevine. You want to earn interest without maintaining any balances: IBC Bank’s interest-drawing business accounts require a minimum balance to earn interest.Learn more about it in our review of Chase Business Checking, which details its different checking accounts to help you decide which suits your needs. Chase is worth considering, with more than 4,700 brick-and-mortar locations nationwide. You prefer in-person banking, and your business is based outside the bank’s service area: IBC Bank’s branches are only located in Texas and Oklahoma.You seek to generate interest from your checking account: You can choose between two interest-bearing accounts (Check ‘N Save Plus and Check ‘N Save Negotiable Order of Withdrawal accounts), both of which offer check writing privileges.Is sufficient and the account activity volume is met for its Commercial Checking account. Investable balance is calculated by using the average balance less uncollected funds, less reserve requirement and a premium assessment factor. You can maintain a higher balance and have many transactions: It waives the monthly service fees as well as other transaction fees, if the investable balance.You have low or average monthly transactions: Opening a Biz Rite Checking provides up to 250 free monthly transactions and up to $3,000 in free cash deposits.You’re a small business owner or nonprofit that wants to save on monthly fees: Small businesses, clubs, and nonprofits can open a Biz Rite Checking account, which does not charge a monthly service fee.
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