National ATMsBusiness Checking
Our business checking accounts offer great value and a variety of ways to access and manage your money.
Flexibility is key in today’s business environment. Getting things done quickly and efficiently can have a big impact on the bottom line. We not only recognize this need, we’re doing something about it by providing advanced online tools for your business.
Business Checking Features
- No minimum amount to open account
- No minimum balance per month
- Digital Banking and optional cash management services - learn more
- Surcharge-free access to Moneypass® ATMs
- Free contactless Visa® debit card with Visa SavingsEdge®
- Digital wallet services
- Free mobile deposit*
- Free eStatements
Which account is right for your business
BUSINESS CHECKING
Our most basic business checking account, best for the start-ups and smaller businesses.
- Up to 100 free total check/ACH transactions per month1
- Does not earn dividends
- No minimum balance
- No monthly service fee
- $3 / month for paper statements (or $0 for eStatements)
- Up to $5,000 cash processed for free at a branch.2
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NON PROFIT CHECKING
A simple and functional checking account perfect for 501(c)(3) organizations.
- Up to 200 free total check/ACH transactions per month1
- Earns dividends (tiered levels) - check rates
- No minimum balance
- No monthly service fee
- Free paper or eStatements
- Up to $5,000 cash processed for free at a branch.2
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BUSINESS ADVANTAGE CHECKING
A great option for businesses who carry a higher balance and want to earn dividends.
- Up to 200 free total check/ACH transactions per month1
- Earns dividends (tiered levels) - check rates
- Account requirements to avoid $15/mo. service fee:
• $25,000 daily deposits and loan balance
• Digital Banking Account
• eStatements - Up to $10,000 cash processed for free at a branch.2
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BUSINESS PLATINUM CHECKING
Earn the most dividends with this account. For the businesses who carry much higher balances.
- Up to 400 free total check transactions per month1
- Earns Dividends (tiered levels) - check rates
- Account requirements to avoid $40/mo. service fee:
• $25,000 daily deposit balance OR $50,000 aggregate deposits and
loan balance
• Free Debit Card
• Digital Banking Account - Free eStatements OR $3 monthly fee for paper statements
- Up to $20,000 cash processed for free at a branch.2
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* Data carrier rates may apply
1. Total clearings per month includes
check clearings, check deposits, and ACH credits/debits. $0.25 per item fee for additional
transactions.
2. $0.25 fee for each additional $100.00 cash processed in a branch. Amount listed is
an aggregate total of cash deposits and withdrawals per month.
Download and Print Checking Account Comparison
Get Started
Contact Us
Fill out our online form with some information about your business and the products or services of interest. Your local Commercial Banking Officer will be in touch within 1-2 business days.
Locate a Branch
You can open a business account or loan at any Magnifi Financial location. Each location has a designated Commercial Banking Officer, but we recommend you call ahead to make an appointment.
Call Us
We have a dedicated phone line for business members which will help you reach someone who can help faster and save you precious time.
Click here to learn more about what you'll need for your new account.
Business Checking Account Rates
Effective Date 7/1/2023
| Type | Dividend Rate | APY | Min Opening Deposit | Min Balance to Earn Stated APY |
|---|---|---|---|---|
| Non Profit Checking | 0.35% | 0.35% | $0.00 | $0 - $49,999 |
| 0.40% | 0.40% | $50,000 - $99,999 | ||
| 0.45% | 0.45% | $100,000 - $149,999 | ||
| 0.50% | 0.50% | $150,000+ | ||
| Business Advantage Checking* | 0.35% | 0.35% | $0.00 | $0 - $49,999 |
| 0.40% | 0.40% | $50,000 - $99,999 | ||
| 0.45% | 0.45% | $100,000 - $149,999 | ||
| 0.50% | 0.50% | $150,000+ | ||
| Business Platinum Checking* | 0.35% | 0.35% | $0.00 | $0 - $49,999 |
| 0.40% | 0.40% | $50,000 - $99,999 | ||
| 0.45% | 0.45% | $100,000 - $149,999 | ||
| 0.50% | 0.50% | $150,000+ |
APY = Annual Percentage Yield
Rates are subject to change without notice.
Dividends compound monthly.
* Fees could reduce earnings
Maximize your business checking account
Magnifi Financial's digital banking and services can help you optimize your business finances by giving you the ability to access and manage your funds from anywhere. Together, with your Commercial Banking Officer, learn about which services are right for you and your business.
Digital Banking
Optimize your business checking account with our digital banking platform and services.
Learn More
Visa SavingsEdge
A free service for Magnifi Financial business debit card holders to save at a variety of merchants.
Learn More
Electronic Services
Check out the additional services you can add on to your account and save you money.
Learn MoreAdditional Products and Services for Businesses
Check out all of your options you can utilize with Magnifi Financial's suite of business products and services! Our business team will work with you individually to ensure you're on track to reaching your business goals.
Join the Magnifi Family!
At Magnifi, you're not just a member-owner of an award-winning credit union, you become part of the Magnifi family and receive all the benefits and perks you need to succeed financially.
