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Business Checking Options

To meet the unique needs of your business, we offer four business checking account options: Basic, Classic, Analyzed, and Remote Deposit Checking.
 
Which Business Checking Account Is Right For You?
 

Basic Business Checking

A great account for businesses with low-to-moderate activity.
  • No monthly fee for average daily balances as low as $2,500.
  • Free account access via Business Digital Banking, 24-Hour Telephone Teller, and at over 30,000 ATMs nationwide.1
  • Free Online Bill Pay, Account Alerts, Business Visa® Check Card, and unlimited check-writing privileges.
 

Classic Business Checking

Ideal for businesses with more active checking needs.
  • No monthly fee for average daily balances as low as $5,000.
  • Free account access via Business Digital Banking, 24-Hour Telephone Teller, and at over 30,000 ATMs nationwide.1
  • Free Online Bill Pay, Account Alerts, Business Visa® Check Card, and unlimited check-writing privileges.
 

Analyzed Business Checking

Designed for businesses with heavy transaction activity or those using a broad range of North Island services.
  • Use this worksheet to see if Analyzed Business Checking is a good option for your business.
  • Integrated monthly activity analysis.
  • Your account balance generates an earnings credit to offset, or even eliminate, monthly maintenance and activity charges.
  • Free account access via Business Digital Banking, 24-Hour Telephone Teller, and at over 30,000 ATMs nationwide.1
  • Online Bill Pay, Account Alerts, Business VISA® Check Card, and unlimited check-writing privileges.
  • Sweep Accounts earn you dividends on funds not in use.

Sweep Accounts

Put your excess cash to work earning interest while avoiding overdraft charges.
  • Increase returns by having idle Analyzed Business Checking account balances automatically invested into a Sweep Account earning higher interest.
  • Retain liquidity while saving time.
  • No per-transfer charges.
  • Easy set up - simply establish a target minimum checking balance to avoid fees.
  • See our rates and terms for all Sweep Accounts here.

How an Island Sweep Account Works2

At the close of each business day and after daily transaction obligations are met, North Island calculates your excess Analyzed Business Checking Account funds and automatically "sweeps" them into a Sweep Account. If your checking account drops below the designated minimum balance level, funds will be automatically swept back to meet the desired balance. Access Business Digital Banking to determine your daily position and calculate dividends.
 

Zero Balance Accounts (ZBAs)

Maximize your use of funds and increase your account control.
  • Eliminate excess balances in sub accounts.
  • Separate statements for easy account management.
  • Maintain greater disbursement control and flexibility.
  • A convenient way to enhance your cash flow.

How an Island ZBA Works

A ZBA is a checking account designed to maintain a zero balance, even as checks and electronic payments are cleared against it. Funds are automatically transferred from an Analyzed Business Checking Account into the ZBA only when necessary to cover checks and electronic payments that have cleared. As long as the checking account is adequately funded, the possibility of overdrafts on the ZBA is eliminated. More than one ZBA can be linked to an Analyzed Checking Account. Popular uses of ZBA accounts include: payroll, benefits, petty cash, lockbox collections and store locations from multiple locations.

 

Rates, Fees and Charges

 
To open a business account, contact us today. Before you open your account, please research this list of documents required to open an account.
 
See our rates and terms for all business checking accounts here.
 
Terms & Conditions
1All ATMs in the Co-Op Network are fee-free to Island members. Co-Op is a nationwide network of over 30,000 ATMs owned by credit unions, including The Island, as well as participating 7-Eleven® store ATMs. Based on the level of activity on your account, we reserve the right to convert your account to another type of checking. We will give you 30 days’ notice if we elect to convert your account. Programs (including but not limited to fees, rates, and features) are subject to change without notice. After account is opened, dividend rate and APY may change at North Island Credit Union's discretion. Fees may reduce earnings.
2The interest earned on Sweep balances combines the rates in the four tiers listed above. The funds within each tier earn the disclosed rate. Therefore, the net blended rate is lower than highest tier rate. Programs (including but not limited to fees, rates, and features) are subject to change without notice. After account is opened, dividend rate may change at North Island Credit Union's discretion. Fees may reduce earnings.