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Business Deposit Accounts
First National Bank of Oklahoma has all the business banking tools you need to allow your business to thrive. From money market accounts to cash management services and free small business checking, we are here to help. Please review a business banking account below for more information.
| BEST FOR: | Unique to your company size, account balance and spending habits. Ideal for businesses with higher transaction volume or that utilize Treasury Services. | Best for small to medium sized businesses with lower monthly transaction volume. | Ideal for individuals who want to earn interest on their balance and only write a few checks each month. | Helps nurture growth for your business. |
|---|---|---|---|---|
| Account | Commercial Checking | Small Business Checking | Money Market Checking | Commercial Savings |
| Features |
– Includes an earnings credit based on your account balance, which can help offset fees. – No minimum balance requirements – Remote Deposit Capture, ACH/Wire capability, Autobooks and Positive Pay |
– No minimum balance requirements. – Still get the perks of Remote Deposit, ACH/Wire capability, Autobooks and Positive Pay. |
– Variable Interest Rate – Interest compounded and credited monthly. |
– Variable Interest Rate – Interest compounded and credited quarterly. |
| Minimum Balance Requirement | No | No | $1,500 to avoid service charge. | $100 to avoid service charge. |
| Minimum Opening Deposit | $800 | $500 | $1,500 | $800 |
| Monthly Service Fee | $10 | No | No | No |
| Earnings Credit | Helps offset fees | No | No | No |
| Business Debit Card Included? | Yes | Yes | No | No |
| Checks or Withdrawal Fee | $0.20 each (debit, credit and deposit items) | $.25 for items over 200 (debit, credit or deposit items) per statement cycle | $10 fee for each debit over 6 per statement cycle | $1 fee for each debit over 6 per statement cycle |
| Cash Deposit Fee | $0.35 per $1,000 over $7,500/month | $0.35 per $1,000 over $7,500/month | No | No |
Commercial Checking
Best For: Unique to your company size, account balance and spending habits. Ideal for businesses with higher transaction volume or that utilize Treasury Services.
Features:
- Includes an earnings credit based on your account balance, which can help offset fees.
- No minimum balance requirements
- Remote Deposit Capture, ACH/Wire capability, Autobooks and Positive Pay
Minimum Balance Requirement: No
Minimum Opening Deposit: $800
Monthly Service Fee: $10
Earnings Credit: Helps offset fees
Business Debit Card Included? Yes
Checks / Withdrawal Fee: $0.20 each (debit, credit and deposit items)
Cash Deposit Fee: $0.35 per $1,000 over $7,500/month
Small Business Checking
Best For: Best for small to medium sized businesses with lower monthly transaction volume.
Features:
- No minimum balance requirements.
- Still get the perks of Remote Deposit, ACH/Wire capability, Autobooks and Positive Pay.
Minimum Balance Requirement: No
Minimum Opening Deposit: $500
Monthly Service Fee: No
Earnings Credit: No
Business Debit Card Included? Yes
Checks / Withdrawal Fee: $.25 for items over 200 (debit, credit or deposit items) per statement cycle
Cash Deposit Fee: $0.35 per $1,000 over $7,500/month
Money Market Checking
Best For: Ideal for individuals who want to earn interest on their balance and only write a few checks each month.
Features:
- Variable Interest Rate
- Interest compounded and credited monthly.
Minimum Balance Requirement: $1,500 to avoid service charge.
Minimum Opening Deposit: $1,500
Monthly Service Fee: No
Earnings Credit: No
Business Debit Card Included? No
Checks / Withdrawal Fee: $10 fee for each debit over 6 per statement cycle
Cash Deposit Fee: No
Commercial Savings
Best For: Helps nurture growth for your business.
Features:
- Variable Interest Rate
- Interest compounded and credited quarterly.
Minimum Balance Requirement: $100 to avoid service charge.
Minimum Opening Deposit: $800
Monthly Service Fee: No
Earnings Credit: No
Business Debit Card Included? No
Checks / Withdrawal Fee: $1 fee for each debit over 6 per statement cycle
Cash Deposit Fee: No
Interest-Bearing
The balance computation method we use to calculate all interest-bearing accounts is the Daily Balance Method. This method applies a daily periodic rate to the principal in the account each day.
