Business Accounts

At The State Bank of Faribault we understand that businesses vary greatly in their banking needs. We've created three different types of business checking accounts so you can choose the one right for your business and pay for only those services you use. Plus we offer a special Investors Money Market.

Checking Accounts

	Business Basic Checking	Business Plus Checking	Business Preferred Checking
Description	This is a straight-forward, easy-to-use account that offers the flexibility to manage the finances of most entrepreneurs.	Available as a checking option for sole proprietors and nonprofit organizations who want to earn interest on their business checking.	Designed for mid to high volume business customers
Monthly Service Fees	No monthly maintenance fee 150 checks per month at no charge 18¢ per check over 150 100 deposit items per month 18¢ per deposit item over 100	$7.50 monthly maintenance fee 15¢ per posted item 15¢ per out-of-town check deposited 6¢ per local check deposited 4.5¢ per on-us check deposited 40¢ per deposit	$7.50 monthly maintenance fee 12¢ per posted item 10¢ per out-of-town check deposited 6¢ per local check deposited 4.5¢ per on-us check deposited 40¢ per deposit
Interest or Earnings Credit	Interest is only available for non-profit organizations. Ask for details.	• No interest earned if average collected balance falls below $1,500 • Variable rate of interest	• Earnigs Credit is available to offset any service charges that may occur • Calculated on an average collected balance • Based on our current money market rate • No carry over of earnings credit
Other Features	• Personal or business style checks • Free Check Safekeeping	• Personal or business style checks • Month-end image statements • Analyzed fees upon request	• Personal or business style checks • Month-end image statements • Analyzed fees available upon request

Checking Conveniences

• FREE INTERNET BANKING
  This allows you to do many banking functions at any time of the day. Transfer money, obtain balances, verify transactions, and much more. You can even view your cancelled checks online!
• e-BUSINESS CASH MANAGEMENT
  This service goes much further than Internet Banking, by offering special options to meet demands of businesses. You can send wire transfers, initiate ACH payments, make tax payments, and much more.
• STATEMENTS OF CD-ROM
  It's a great way to store your bank information. You can request a monthly, quarterly, or yearly statement.
• DIRECT DEPOSITS
  Have your payroll automatically deposited into your employees bank accounts - it's fast, and very convenient!

Requirements for Account Opening

You will need to provide the following information when opening a business checking account at SBF.

• Certificate of Assumed Name
• Affidavit of Publication
• Certificate of Incorporation or Partnership Agreement
• Tax Identification Number

Non-profit organizations are required to provide a 501C3 Form.

A $100 deposit is required to open any checking account, other fees may apply.

Other Business Services

• Business VISA CheckCard
• Business VISA Travel Rewards Card
• Merchant Credit Card Services
• Working Capital Lines of Credit
• Letters of Credit
• Equipment Loans
• Commercial Real Estate Loans
• Expansion Loans
• Safe Deposit Boxes
• Night Depository
• 24-HOUR X-PRESS TELEPHONE BANKING
  It's a FREE service. Call 333-2355 from your touch-tone phone
• Check Plus Line (Overdraft Protection)
• Savings Plans
• Simplified Employee Pensions (SEPs)

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