At McClain Bank, we think your funds should work as hard as you do. That's why we offer interest-bearing business accounts designed to support your long-term business growth.
Business Account Solutions include:
| Visa® Instant Issue Debit Card | Online Banking | Online Bill Pay | Remote Deposit Capture |
| Mobile Banking | Mobile Wallet | Mobile Deposit | P2P Payments |
| Cash Management | Wire Transfers | Direct Payroll Deposit | ACH Origination |
| Merchant Processing | Business Credit Cards | eStatements option | 24/7 Telephone Banking |
Accounts Comparison -
| Account | Opening Balance | Balance to Avoid Service Charge | Interest Bearing |
|---|---|---|---|
| Interest Checking | $1,500 | $1,500 | Yes |
| Health Savings Account | $100 | None | Yes |
| Certificates of Deposit | $1,000 | Early withdrawal penalty may apply | Yes |
Accounts Overview -
Interest Checking
The only interest bearing checking account available to our business customers.
- $1,500 initial deposit to open account
- Business Account Solutions included
- $9.95 monthly maintenance fee waived if average daily balance exceeds $1,500
- FREE Paper statements with check images
- Interest compounded on monthly basis based on average daily balance*
- Bounce Protection (Available at Bank's discretion)
- Only available to DBA, Not-for-Profit, Unincorporated organizations, and some municipalities
Health Savings Account (HSA)
Set aside money on a pre-tax basis to pay for qualified medical expenses, such as deductibles, copayments, coinsurance, and some other expenses.
- $100 initial deposit to open the account
- Business Account Solutions included
- No Service Charge
- High Deductible Health Plan (HDHP) required
- Money deposited in your HSA is 100% tax deductible
- Distributions used to pay qualified medical expenses aren't taxed
- The funds in your HSA are always yours and grow tax-deferred like an IRA
- Employers may open accounts and contribute for employees
- Convenient access with a check or debit card
- First order of checks - FREE
Ten percent tax penalty on withdrawals made for unqualified expenses. Please consult a financial or tax advisor.
Certificates of Deposit
McClain Bank's CDs provide competitive rates with terms from 91 days to five years.
- $1,000 minimum initial deposit
- Variety of Terms
- Various interest payment options include
- quarterly compounding
- automatic deposit to any account or
- payment by check
- Automatically renew
- 10 day grace period following automatic renewal to withdraw without a penalty
* Interest Rates and Annual Percentage Yields are variable and subject to change.