Business Banking

The Products You Need, The Hassles You Don’t

No two businesses are alike, and neither are their business management needs. That’s why FBCO offers a range of services for businesses of every size and type. Each is designed specifically with the business owner in mind, making it easier for you to manage operations and simplify your daily life.

Business Checking

Business Checking

  • Low minimum to open your account
  • No hidden fees
  • Unlimited bill payment
  • Free ATM/Debit Card access1
  • Options to suit your business size and needs

Clients of FBCO can choose from five great checking options – all with the features you need to successfully manage your finances. Whether you’re a sole proprietor, corporation or simply looking for a basic business checking package, our team will get you set up in minutes.

FBCO Business Checking Accounts

Basic Business Checking

Business Checking

Business Analysis Checking

Business Interest Checking

Non-Profit Checking

Description

A basic business checking account

Supports growing business with higher transaction needs.

Higher transaction needs and Treasury Management services.

Earns interest.

A basic checking account designed for non-profit organizations.

Initial Opening Deposit Requirement

$50

$50

$50

$50

$50

Transaction Fees

First 150 transactions are free; $.30 for each additional transaction.

First 300 transactions are free; $.30 for each additional transaction.

Per item fees billed through monthly analysis.

First 150 transactions are free; $.30 for each additional transaction.

First 150 transactions are free; $.30 for each additional transaction.

Monthly Service Charge

None.

$10 if balance not met.

$15; fee is billed through monthly analysis.

$10 if balance not met.

None.

Balance Requirement to Avoid Monthly Service Charge

Not applicable.

Maintain an average daily balance greater than $10,000.

Not applicable.

Maintain an average daily balance greater than $25,000.

Not applicable.

Earns Interest?

No

No

Earnings credit is earned on average collected balance to offset monthly service.

Yes

Yes

Interest Compound Method

Not applicable.

Not applicable.

Not applicable.

Monthly

Monthly

Online and Mobile Banking

Free

Online Bill Pay

Free

ATM/Debit Card Access

Yes

ATM/Debit Card Fees

No fees are charged by FBCO; rebate of other banks’ ATM fees on the first six (6) transactions each statement cycle (using transaction posting date).

Business Savings

  • No or low minimum balances
  • No monthly fees2
  • Free online banking
  • Tiered interest rates
  • Free ATM/Debit Card access1
Business Savings

FBCO gives you a range of savings options that will help you manage both your short-term and long-term financial needs. With highly competitive rates and no monthly fees2, these accounts offer a safe investment option, and can be used as overdraft protection on your FBCO checking account.

FBCO Business Savings Accounts

Business Savings

Business Money Market

Business Premium Money Market

Description

Competitive interest rates on low account balances.

Competitive money market interest rates with a low minimum balance requirement.

Rewards higher balances with higher interest rates of return.

Initial Opening Deposit Requirement

$50

$50

$50

Transaction Fees

None.

Minimum Balance Fee

None.

$10 if balance not met.

$10 if balance not met.

Balance Requirement to Avoid Minimum Balance Fee

Not applicable.

Maintain an average daily balance greater than $1,000.

Maintain an average daily balance greater than $10,000.

Earns Interest?

Yes, based on tiered rates.

Interest Compound Method

Monthly

Online and Mobile Banking

Free

Online Bill Pay

Free

Number of Monthly Transactions

Unlimited Deposit; six (6) pre-authorized, automatic, telephone, electronic (including ACH), online and other transfers and withdrawals not made in person at a branch or by an ATM per month, regardless of the method of transfer or withdrawal.

Excessive Transaction Charges

$2.00 per transaction over six (6).

Checkwriting Capabilities

No

Yes

Yes

ATM/Debit Card Access

Yes

ATM/Debit Card Fees

No Fees are charged by FBCO; rebate of other bank’s ATM fees on the first six (6) transactions each statement cycle (using transaction posting date).

Business Card Services

Business Card Services

Purchase Flexibility with Built-in Security

  • Low interest rates
  • Multiple layers of security
  • Loadable into mobile wallets
  • Eligible for VISA SavingsEdge – exclusive savings offers
  • Platinum or ScoreCard® Rewards options

A VISA credit card from FBCO features both a low introductory rate and low ongoing APR on purchases and balance transfers to give you the control and buying power you need. It can be used at millions of locations worldwide in stores or online.

FBCO Business VISA Accounts

Platinum Card ScoreCard Rewards Card
Annual Percentage Rate (APR) for Purchases Prime plus 6% after introductory rate.a
APR for Balance Transfers and Cash Advances Prime plus 6% after introductory rate.a
Introductory APR Equal to Prime for the first six months.a
Grace Period Credit Card Purchases: 25 days from the end of the billing period.

 

Cash Advances: None.

Annual Fee $15, if less than $5,000 in purchases are made within the 12 month period. $25
Transaction Fees Cash Advances: 2% of amount obtained with a $2 minimum and $20 maximum.

 

Foreign Transactions: 1% of transaction amount.

Penalty Fees Late Payment Fee: $5 or 5% of balance, whichever is greater.

 

Over-Limit Fee: $15

Pay-by-Phone Fee $10 for agent assisted payments.
Rewards None. Cardholder earns one point for every net dollar spent. Redeemable for merchandise and travel (no blackout dates). See www.scorecardrewards.com for more details.

 

How We Will Calculate Your Balance: We use a method called “average daily balance (including new purchases).” See your account agreement for more details.

aPrime Rate: The introductory APR is based upon the highest Prime Rate in the Wall Street Journal, Midwest Edition, published and in effect on the 1st calendar day following each quarter end. Any change in the APR will correspondingly take effect on the 15th calendar day following the quarter end. Following the introductory period the APR each quarter is determined by adding 6% percentage points to the highest Prime Rate published by the Wall Street Journal, Midwest Edition, on the 1st calendar day following each quarter end, effective on the 15th day. Information is accurate as of May 1, 2020. To find out if any changes have occurred, call us at (800) 752-8140 or(952) 885-9455.

Remote Deposit Capture

  • Unlimited deposits online
  • Extended daily deposit deadlines
  • Online check image archive
  • No deposit slips
  • No software to buy
Remote Deposit Capture

Fast, Convenient, and More Secure

Remote Deposit Capture is an online check image capture, storage and processing service from FBCO that allows you to deposit paper checks any time day or night from the convenience of your offices, eliminating the need to fill out deposit slips and make trips to the branch.

Mobile Wallet

Mobile Wallet

  • Pay securely using your mobile device
  • Shop in-store, in-app or online
  • Replaces your physical credit or debit cards
  • Works with Apple Pay®, Samsung Pay® or Google Pay®
  • Faster and more convenient to pay

With a mobile or digital wallet, your actual card number is replaced with a unique virtual code each time you use it, which means businesses never see or store your personal information. Just hold your smartphone, tablet or smartwatch near the payment terminal and confirm – it’s that simple.

1No fees are charged by First Bank of Central Ohio; rebate of other banks’ ATM fees on the first six (6) transactions each statement cycle (using transaction posting date).
2As long as minimum balance requirements are maintained.