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• Business Accounts
• Business Sweeps

Manage your cash flow easily with convenient and versatile business accounts at First National Bank. Each account has unique benefits and can be used in conjunction with other programs as your business needs evolve. 

To further assist you in making a comparison of the following accounts, see our Account Comparison Table.   

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Type of Funds	Availability
On First National Bank	Immediate
Iowa	1 Business Day
Government Checks	1 Business Day
Out-of-State	2 Business Days

Note: First National Bank does not charge a FDIC insurance assessment or premium. 

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*Earnings Credit: The earnings credit on the Commercial Checking account is based on the average 91-day Treasury Bill rate for the current month. It is calculated based on the average "collected" balance, less a 10.00% reserve requirement. ["Uncollected" balances will be charged the 91-day Treasury Bill rate, plus 3.00%. This situation applies only when the average account balance is very low.]

Earnings Credit Calculation Example: For the purposes of this example, the assumption is that the T-Bill Rate is 0.80%, the average balance maintained on the Commercial Checking account for the month was $200,000, and there were 31 days in the monthly cycle. 

Multiply the $200,000 (average account balance) x 90% (to exclude the 10.00% reserve). Take that amount and multiple it by .008 (T-Bill rate). That provides you with an annual amount of earnings of $1,440.00. To determine the monthly earned credit, divide the annual amount by 365 days in a year and multiple it times the number of days in that particular month (31 days). Your monthly earned credit would be $122.30. [$200,000 x 90% x .008/365 x 31 = $122.30]

UCC Article 4A Disclosure

DISCLOSURES REGARDING ELECTRONIC "WHOLESALE CREDIT" TRANSACTIONS SUBJECT TO UNIFORM COMMERCIAL CODE ARTICLE 4A
 
PROVISIONAL PAYMENT:
Credit given by us to you with respect to an automated clearing house credit entry is provisional until we receive final settlement for such entry through a Federal Reserve Bank. If we do not receive such final settlement, you are hereby notified and agree that we are entitled to a refund of the amount credited to you in connection with such entry, and the party making payment to you via such entry (i.e. the originator of the entry) shall not be deemed to have paid you in the amount of such entry.
 
NOTICE OF RECEIPT OF ENTRY:
Under the operating rules of the National Automated Clearing House Association, which are applicable to ACH transactions involving your account, we are not required to give next day notice to you of receipt of an ACH item and we will not do so. However, we will continue to notify you of the receipt of payments in the periodic statement we provide to you.
 
CHOICE OF LAW:
We may accept on your behalf payments to your account which have been transmitted through one or more Automated Clearing Houses ("ACH") and which are not subject to the Electronic Fund Transfer Act and your rights and obligations with respect to such payments shall be construed in accordance with and governed by the laws of the state of Iowa, unless it has otherwise specified in a separate agreement that the law of some other state shall govern.

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Get the most out of your account with customizable Cash Management, eDeposit and Positive Pay.

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MORE INFORMATION

• • What documents do I need to open a business account?

  • First National Bank collects information to confirm your business and associated individuals. The following basic information is required for associated individuals and beneficial owners: Name, Address, SSN, phone number, email address, current government issued photo ID, DOB.

    Beneficial owners - 25% or more interest in the business

    The business must be active on the Iowa Secretary of State website.  First National Bank does not accept out of state business documents.  View our Document Checklist for more detailed information.

  • Can I order a business debit card for myself and/or my employees?

  • Yes, the business may request as many cards as they would like (one free per signer on the account, then $10 each). The ATM withdrawal limit can be lowered to $0 to minimize untraceable spending.  Debit cards can be issued in the business name with the name of the individual/signer or in the business name only.

  • Do you offer business credit cards? If so, how do I apply?

  • First National Bank offers a UMB Visa Business Credit Card where you can earn up to 2x points per dollar. You can redeem the points for cash back, gift cards, travel, event tickets, and more. Payments are made directly to UMB Bank.

    Click here to apply. Completed applications can be emailed to [email protected] or faxed to 816-860-3152.

  • Can I link my accounts to QuickBooks or Quicken?

  • Yes, email Digital Services or call 515-232-5561 for assistance.

  • What kinds of business checks do you offer?

  • First National Bank offers several business check styles, including computer checks, three to a page, and business wallet. View the online catalog and contact a Relationship Banker to order.

  • Do all signers need to be present to open a business account?

  • No, we have multiple ways of collecting the needed information.  Contact a Relationship Banker to learn more.

  • How do I register for online banking for my business account?

  • Click here to view our business online banking options.

    We can add your business account to your current online banking or you can register for free online banking using your business EIN.