Business Checking Accounts
A business checking account helps monitor how profitable your business is while keeping business transactions separate from personal transactions. No matter how big the company or the industry, Core Bank has the perfect business checking account for you!
Business Banking Made Easy
At Core Bank, we want business owners to have the best account that aligns with their business goals. Our business banking team is committed to helping business owners open a checking account that fits their needs. Get in touch with the Core Bank team today!
Benefits with Every Business Checking Account
As the account holder of the business checking account, take advantage of the Core Bank mobile app or sign up for online banking to stay on top of your account 24/7.
Business Checking Accounts for Your Needs
We offer a variety of business checking accounts, and our team is ready to help you pick the option that best fits your needs!
Business Checking
With no minimum balance requirement, no monthly maintenance fee, and 250 free transactions per month, Core Bank Business Checking accounts are designed with your business in mind.
Account Summary
- Minimum Deposit: $100
- Minimum Daily Balance: $0
- Monthly Maintenance Fee: $0
- Per Transaction Fee: First 250 Free, $0.50 for every item after
- Earnings Credit or Interest: None
Business Analysis
With no minimum daily balance, low monthly maintenance fee, and more, the Core Bank Business Analysis checking account features benefits designed specifically for businesses.
Account Summary
- Minumum Deposit: $100
- Minimum Daily Balance: $0
- Monthly Maintenance Fee: $20
- Per Transaction Fee: $0.30 per deposit/withdrawal $0.10 per item deposited
- Earnings Credit or Interest: Earnings Credit
Lawyers Trust Accounts
Core Bank offers Lawyer’s Trust accounts to firms that have their operating account with Core Bank. Core Bank is certified with the Bar Associations in Nebraska, Kansas, and Missouri. This account offers a competitive interest rate and when coupled with your operating account you can expect high tech treasury services and a high touch experience with a dedicated relationship manager that understands your needs.
Account Summary
- Minimum Daily Balance: $0
- Monthly Maintenance Fee: $0
- Earnings Credit or Interest: Interest
BUSINESS CHECKING*
Minimum Daily Balance
$0
Monthly Maintenance Fee
$0
| Minimum Daily Balance | $0 |
| Monthly Maintenance Fee | $0 |
| Per Transaction Fee | First 250 Free, $.50 |
| Checks Returned In The Mail | $7 |
| Earnings Credit or Interest | None |
LAWYERS TRUST ACCOUNT**
Minimum Daily Balance
$0
Monthly Maintenance Fee
$0
| Minimum Daily Balance | $0 |
| Monthly Maintenance Fee | $0 |
| Checks Returned In The Mail | $7 |
| Earnings Credit or Interest | Interest |
BUSINESS ANALYSIS**
Minimum Daily Balance
$0
Monthly Maintenance Fee
$20
| Minimum Daily Balance | $0 |
| Monthly Maintenance Fee | $20 |
| Per Transaction Fee | $.30 per deposit/withdrawal $.10 per item deposited |
| Checks Returned In The Mail | $7 |
| Earnings Credit or Interest | Earnings Credit |
Business Checking Account FAQs
What is an Earnings Credit?
Earnings credit is calculated monthly using an investable balance. This credit is then used to offset any fees for services utilized such as ACH, Remote Deposit Capture, and more! Investable balance is determined by using the averaged collected balance minus a reserve of 10%.
What are uncollected funds?
Uncollected funds are deposited proceeds that are credited to your account but the bank has yet to receive them from the paying bank. The funds are considered collected based on a standard float table which determines the amount of time funds take to receive using the location of the payee bank or type of item deposited. If you average collected balance is negative for the statement cycle a fee will be assessed that is equal to New York Prime plus 5%.
Can I deposit personal checks into a business account?
It is considered best practice to keep business and personal funds separate. This separation ensures your personal assets are protected in the event the business faces financial hardship. All checks should be endorsed with the business name or a stamp with the business information.
Is it best to establish my business as a Sole Proprietor/Doing Business as (DBA), LLC, or Corporation?
This often depends on the type of business and how many parties are involved. It is best to consult a tax advisor to determine the best entity type. Establishing an LLC or Corporation over a sole proprietorship can protect your personal assets if the business suffers a loss.
| ENTITY TYPE | LIABILITY | TAXATION | MAINTENANCE |
| Limited Liability Corporation | Pass-through tax structure combined with limited liability protection. |
Based on IRS rules, LLCs can choose between being taxed as partnership or corporation. |
The least amount of formal annual requirements and easiest entity to maintain. |
| Corporation | Owners & shareholders have limited personal liability for business related debts. | Separate taxable entity, corporate profits among owners and corporation. | Stock may be sold to raise capital and to maintain corporate status, meetings are required. |
| Non-Profit Corporation | A corporation formed for a charitable, educational, religious, literary, or scientific purpose. | Contributions to charitable corporation are tax deductible. Can get tax exempt status with the IRS. | Annual reports, minutes, meetings are required to maintain nonprofit & tax exempt status. |
| S Corporation | An S Corporation is a tax status, so any existing liability protections from you base entity carry over. | Potential tax savings are available, but S Corporation is more expensive to create than a partnership or sole proprietorship. | Similar advantages to a limited liability company, but there are more formality requirements. |
What do I need to open a business account
Requirements vary by enitity type, however with all entities the individuals signers should be prepared to provide a valid government issued ID, Date of Birth, Social Secuity Number, and phsycial address. Other items may include; active Secretary of State registery, Operating agreement and/or Articles of Incorporation, and proof of a valid employer indentifiaction number.
How to Get a Business Checking Account
Contact a member of our business banking team today to find the right checking account for your business’s needs and set up an account today!