Business Accounts
Experience business banking – the Magnolia Way. Your local and trusted business partner.
Open a Business Account
Our Accounts
Business Basic
For small businesses or businesses getting started
- Minimum opening deposit of $50
- No minimum daily balance requirement
- No monthly service fee
- Up to 150 items per month; excess item fee charged per item above the allowed
- eStatement available at no charge or paper statement fee of $5 per statement
Business Plus
For businesses with moderate transaction volumes.
- Minimum opening deposit of $50
- Minimum daily balance requirement of $10,000
- A monthly service fee of $10 if daily balance falls below required daily minimum at any time during the statement cycle
- Earns interest on balances starting at $10,000
- Up to 300 items per month; excess item fee charged per item above the allowed
Business Pro
For businesses with higher transaction volumes.
- Minimum opening deposit of $50
- Earns interest on balances starting at $10,000
- Minimum daily balance requirement of $30,000
- A monthly service fee of $25 if daily balance falls below required daily minimum at any time during the statement cycle
- Up to 600 items per month; excess item fee charged per item above the allowed
Business Sweep
For business customers who desire FDIC coverage on balances greater than $250,000.
- Opening deposit of at least $250,000
- Earns interest on balances starting at $10,000
- Average balance requirement of $250,000
- A monthly service fee of $25 if average balance falls below required minimum
- Up to 600 items per month; excess item fee charged per item above the allowed
Business Money Market
For businesses looking to earn additional interest on business funds.
- Minimum opening deposit of $50
- Minimum daily balance to earn interest is $2,500
- A monthly service fee of $10 if minimum daily balance is not maintained during any day of the statement cycle
- Limited to 6 withdrawals per four week or similar period; Excess Item Fee per item assessed if limit exceeded
- Interest earned on tiered rate structure. Click here to view our rates.
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