Business Banking
Business Checking Accounts
You have choices for your business checking accounts with 1st Source Bank. We’ve designed accounts that accommodate different business situations and help our clients achieve their unique objectives.
Business Checking Options
Talk with your 1st Source business banker about your transactional needs to find the checking account that's right for your business
Business Value Checking
Designed for small businesses with fewer than 200 transactions (checks, ACH debits or credits, or cash deposits) each month.
- Allows up to 200* transactions each month at no charge
- Waived $5 Account Service Fee with a $1,000 minimum daily balance
- Complimentary electronic statements; mailed paper statements are $3 but the fee is waived with a $1,000 minimum daily balance
*Each transaction over 200 is priced at just $0.40.
Business Checking
Made for businesses that have fewer than 500 transactions (checks, ACH debits or credits, or cash deposits) each month.
- Allows up to 500* transactions each month at no charge
- Waived $20 Account Service Fee with a $20,000 minimum daily balance
- Complimentary electronic statements; mailed paper statements are $3 but the fee is waived with a $20,000 minimum daily balance
*Each transaction over 500 is priced at just $0.50.
Business Checking With Interest
Earn interest on your checking account balance after any account charges are deducted.
- awards an earnings credit for the average available collected balance
- a low monthly fee of $20
- electronic statements are complimentary, mailed paper statements are $3
- competitive per-item fees
*Additional services may be offered for a fee.
Business Analysis Checking
Good for businesses with high transaction volumes that can maintain a minimum balance of $25,000.
- gives you the flexibility of either maintaining a monthly balance or investing excess funds
- awards an earnings credit for the average available collected balance
- a low monthly fee of $20
- electronic statements are complimentary, mailed paper statements are $3.
- competitive per-item fees
*Additional services may be offered for a fee.
Community Nonprofit Checking
Serving others is a core value of ours and those nonprofit organizations serving our communities have a special place in our hearts. That’s why we offer the ease, convenience, and value of a Community Checking NFP account to qualifying nonprofit organizations*:
- no minimum account balances
- no monthly fees
- 150** transactions (checks, ACH debits or credits, or cash deposits) per month
- electronic statements are complimentary, mailed paper statements are $3
*Religious, philanthropic, charitable, educational, political, or other such groups as well as homeowners’ and condominium owners’ associations.
**A fee of just $0.40 is assessed for every transaction over 150.
Note: for a particular business checking account, there may be eligibility requirements. Please see the Business Account Agreement for more details.
Account Services
Every Checking Account Offers:
- Online Banking, Mobile Banking, and e-Statements
- Resource Plus® Debit Card
- Digital scans of your processed checks (check images) on your monthly statements
- Fraud protection through Treasury Services’ Positive Pay, ACH Debit Block, and ACH Filter
- Telephone Banking
- Option of an Overdraft Carefree Line of Credit for $12 per month
- Deposits are insured up to $250,000 per depositor, per ownership category by the FDIC
- No transaction limits
Compare Checking Accounts
Business Value Checking
Apply Online
Business Checking
Apply Online
# of Transactions Included
200 combined transactions
500 combined transactions
Per Transaction Pricing Over Those Included
$0.40 per transaction
$0.50 per transaction
Account Service Fee
$5
$20
Waived with a $1,000 Minimum Daily Balance
Waived with a $20,000 Minimum Daily Balance
Earnings Credit
No
No
Ability to Waive $3 Paper Statement Fee
Meet Minimum Daily Balance requirements or signed up for BBO Treasury and enrolled in eStatements
Meet Minimum Daily Balance requirements or signed up for BBO Treasury and enrolled in eStatements
# of Transactions Included
Per Transaction Pricing Over Those Included
Account Service Fee
$20
$20
Earnings Credit
Ability to Waive $3 Paper Statement Fee
Signing up for BBO Treasury and enrolled in eStatements
Signing up for BBO Treasury and enrolled in eStatements
Community Checking
Apply Online
# of Transactions Included
150 combined transactions
Per Transaction Pricing
$0.40 per transaction for each item over 150
Earnings Credit
N/A
Ability to Waive $3 Paper Statement Fee
Paper Statement Fee of $3 waived by signing up for BBO Treasury and enrolling in electronic statements.
Note: for a particular business checking account, there may be eligibility requirements. Please see the Business Account Agreement for more details.
Want to know more? Let us reach out to you.
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Business Resource Plus® Debit Card
The Business Resource Plus® card is the ideal solution for businesses that have several employees handling cash for day-to-day purchases. Each authorized card comes with its own Personal Identification Number (PIN), which can be assigned a cash withdrawal limit. Your statement will list all ATM/debit account transactions, so you can track and tally them monthly.
Using your Business Resource Plus® card wherever Mastercard™ is accepted, not only saves you money on checks but also reduces your risk of check fraud. Running your debit purchases through as credit transactions (which requires a signature) instead of as PIN transactions gives you an even greater measure of security. While your Business Resource Plus® card works like a credit card, it’s actually a debit card that draws money directly from your business checking account.
IMPORTANT INFORMATION FOR NEW & EXISTING BUSINESS CLIENTS REGARDING FEDERAL BENEFICIAL OWNERSHIP RULE
Rules under the Bank Secrecy Act, enacted in May of 2018, will aid the federal government in the fight against crime and terror, including the Customer Due Diligence (CDD) Ultimate Beneficial Owner Rule. This Rule will apply to legal entity customers when establishing a new or expanding upon an existing, banking relationship with 1st Source Bank.