Having the right business checking account can make a difference to your bottom line. We’ll work with you to develop a business banking package to fit your unique business situation and ensure you're getting the most value out of your existing business operating account(s).

As a financial partner invested in the success of your business, we can provide a free, no obligation analysis today. 

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Small Business Checking Business Checking Interest-Bearing Business Checking Nonprofit Business Checking
Minimum Opening Deposit $0 $0 $0 $0
Free Chip Debit Card with ATM access
Checkmark in table
Checkmark in table
Checkmark in table
Checkmark in table
Monthly Fee $0 $8 $8 $8
Monthly Free Transaction Items 250 total items: includes checks, deposit slips, deposited items. Unlimited debit card point-of-sale, ATM* and ACH transactions.
No per transaction charge for debit card point-of-sale and ATM* transactions.
No per transaction charge for debit card point-of-sale and ATM* transactions.
No per transaction charge for debit card point-of-sale and ATM* transactions.
Per Transaction Charge $.25/item after 250
$.03/Merchants Bank check deposited
$.08/other item deposited
$.10/ACH debit
$.20/ACH credit
$.03/Merchants Bank check deposited
$.08/other item deposited
$.10/ACH debit
$.20/ACH credit
$.03/Merchants Bank check deposited
$.08/other item deposited
$.10/ACH debit
$.20/ACH credit
Borrowed Funds Rate n/a
Prime +3%
Prime +3%
Prime +3%
Earnings Credit
Based on average collected balance

Earn Interest


*ATM surcharge and foreign fees may apply.

Merchants Bank Business Debit Card

With your business debit card, you can:
  • Have peace of mind with fraud monitoring service.
  • Request cash back with your PIN when paying at a retailer.
  • Make contactless payments, which are faster and more secure. Just tap to scan your card at participating retailers.
  • Get extra benefits through MasterCard, including ID Theft Protection, 24-hour assistance and more.

MasterCard's Click to Pay

Safely pay online without entering your card details every time you shop at a specific retailer when you enroll in Mastercard's Click to Pay.
Enroll in Click to Pay(opens confirmation to leave)(opens in a new window)

Debit Card Control: CardValet

Protect your business from fraudulent transactions and track your debit card activity with the free CardValet app.
  • Turn your debit card(s) “on” and “off.”
  • Set alerts and deny transactions based on dollar amounts, locations, store types and more.
  • Track transactions and set spending limits for other family members on your account with debit cards.
  • Receive automatic notifications about possible fraud.

Download the CardValet App by searching for "CardValet" and selecting the app with the orange and white icon by Fiserv, Inc.

CardValet App Icon

For Android: Google Play Store. Supported on Android 5.0 and higher only.

For Apple: App Store or iTunes. Supported on iOS 9.0 and higher only.

Digital Wallet

Add your Merchants Bank business debit card to your device's digital wallet for secure, convenient payments. A digital wallet is an app that gives you the ability to pay for in store and online purchases directly from your phone or tablet without needing your physical card. Your digital wallet app will depend on the type of device you have (Apple, Google or Samsung). Using the digital wallet app creates a unique, encrypted transaction each time you pay with a specific debit card.

Follow these steps to load your Merchants Bank card(s) into your digital wallet app on your smartphone or tablet:

Identity Theft Protection 

Debit Card Preferred Cardholder Identity Theft Benefits

Our cardholders have access to many Mastercard preferred benefits, featuring ID Theft Protection
Access Benefits

Deluxe Provent® Identity Theft Protection

We also offer Deluxe Provent® Identity Theft Protection as an optional benefit available to any checking account customer and a solution just for businesses. Get started with id theft protection for your business by enrolling below.

Enroll Online

Learn More: Business Checking at Merchants Bank

How can I switch my business checking account to Merchants Bank?

I'm a new business owner. Why do I need separate personal and business checking accounts?

Keeping your business and personal expenses separate is important for tax and legal purposes. Even if your business is just starting out, having a separate business checking account will help make bookkeeping easier in the long term.

I'm an established business. How does Merchants Bank compare to my current business checking account?

Your business is constantly changing. When was the last time you reviewed your business accounts to ensure the best return and most efficient cash flow? 

We’ll conduct a free, no-obligation cost analysis on your business checking account. Our business accounts and Treasury Management Services may be a better fit for your business, so we dare you to compare. Contact a Treasury Management Specialist to begin your analysis.

What do I need to open a checking account?

Please bring the following items with you to open your business checking account:
  • Legal documents for your business.
  • Tax ID number.
  • A list of who you would like to add to the account as authorized signers and a plan for how those signatures will be obtained.
Being prepared with this information will help speed up the account opening process. To schedule an appointment to open a new business checking account, contact your local Merchants Bank branch.

Do you offer Business Online Banking and Mobile Banking?

Yes, we offer several online and mobile banking options for our business customers.
  • Commercial Online Banking - Provides easy access to managing your accounts and seamless integration to the Treasury Management tools you need.
  • Commercial Mobile Banking - Check your business accounts on the go and make mobile deposits, while still operating in a fully secure environment.
  • Small Business Online Banking - Geared toward small businesses that do not use Treasury Management tools, Merchants Bank Small Business Online Banking provides access to basic functions to manage your business accounts such as reviewing transactions, making transfers and paying bills. You may also set up secondary user access.**
  • Small Business Mobile Banking - Easy-to-use, secure mobile access to your business account information on your smartphone or tablet. Our Small Business Mobile Banking provides a convenient way to check balances, view recent transactions, transfer funds, find branch and ATM locations, and more. 

How do I transfer money between my checking account and other business accounts?

You can easily transfer money between your other business accounts several ways, including ACH, automated sweep accounts, Online Banking, Mobile Banking and more.
For help setting up an external transfer to/from your Merchants Bank Business Checking account, contact your local Treasury Management Sales Officer.


How do I find Merchants Bank branches and ATMs near my business?

From our headquarters in Winona to our branches in Rochester and Northfield, Merchants Bank provides convenient locations for local business banking. Find the location nearest you.

Have further questions? Speak to a local banker about business checking in Minnesota and Wisconsin.

Mastercard® Easy Saving Program

It's easy to use your Merchants Bank Mastercard® business debit card to enjoy automatic rebates at more than 50,000 merchants.° There's no enrollment fee, no coupons and no codes. Your savings will be applied to your account each month - automatically. You can find more details by reviewing the Small Business Debit Card Guide to Benefits.

Automatically save when you spend for your business:
  • 1% on fuel at over 19,000 gas stations and 5% on vehicle maintenance
  • 4% at over 20,000 top dining destinations
  • 4% at over 5,000 hotels
  • 2-25% on a range of business services
  • 5% on car rentals
  • And more

Additional Resources:

Full Service Business Banking at Merchants Bank:

We have the resources and financial expertise to be your business partner for the long haul, offering business banking solutions in:
† Merchants Mobile Banking is free, however, text or data charges may be imposed by your mobile provider. Check your plan for details. Your carrier may limit access outside the U.S.

** Fees may apply for certain Treasury Management services. Bill payments after the first 20 bills are 40 cents each.

° Restrictions apply. Rebates currently available for qualifying eligible purchases. Participating merchants and rebate offers are subject to change. You'll receive Mastercard Easy Savings Program rebates on the top of merchants discounts and your card rewards.