Business Checking Accounts

We're built to be your new business partner

Northwest Bank & Trust Company has proudly supported Quad Cities small businesses and not-for-profits for 80 years. From transaction accounts, to loans and cash management tools, we’re here to offer solutions that work as hard as you do. 

Commercial Checking

Our Commercial Checking has the ability to expand to your business and its fluctuations. A competitive earnings credit is applied to minimize or fully offset service charges. Plus, you gain ultimate access with complimentary online banking and business mobile banking. With Commercial Checking, rack up earnings credit that may offset fees. So you get exactly what you pay for, every time.

Enjoy a low monthly service fee ($13.00*) and low transaction fees.

Checking with Interest

Northwest Bank & Trust Company’s business accounts are designed to make your business banking fast and easy. Keep up with your business’ needs with a checking account that delivers everything you require on a day-to-day basis. You get it all for a low monthly fee that’s paired with a competitive interest rate and free online banking access. 

Enjoy no minimum balance requirement, a low monthly service fee ($13.00) and low transaction fees.

Business Transaction + Sweep

Don’t let your cash sit idle. Our sweeps service takes everyday balance management to the next level by automatically sweeping (moving) excess balances daily from your Northwest Bank & Trust Company transaction account to a securitized interest-bearing account.

*No charge if earnings credit on investable balance exceeds charge. The bank will compute an average investable balance by the deduction of a reserve requirement and the daily average uncollected funds for the statement period from the ledger balance. The result is the investable balance on which an earnings credit is computed. The net service charge appears on the bank statement.

Business Checking Account Features

  • Free business online banking
  • Free eStatements
  • Cash management services:
    • ACH Origination
    • Wire Origination
    • Business Bill Pay
    • Remote Deposit Capture
  • Extra Benefits:
    • Northwest Bank’s MasterCard® Business Debit Cards
    • Northwest Bank’s VISA Credit Cards for Business & Not-for-Profits (subject to credit approval)
    • Merchant POS and eCommerce solutions tailored to your industry
    • Night depository
    • Quickbooks® compatible downloads
business transactions and sweep

Business Transactions + Sweep

Automate the movement of money between two checking accounts.

Transaction Account

  • Use automation to save time and eliminate the need to make daily decisions
  • Set your target balance for the transaction account
  • Funds are swept back into the account as needed to maintain the target balance and cover withdrawals, checks and other debits to the checking account
  • End of day checking account debits and credits are computed to arrive at your current balance
  • Unlimited transfers for any dollar amount to and from the sweep account

Sweep Account

  • Competitive interest on funds in excess of transaction account limit
  • Funds placed into retail purchase agreements (“repos”) – which are collateralized by government securities held by a correspondent bank – offering greater coverage than that provided by FDIC insurance
  • Utilizes Northwest Bank & Trust Company’s proprietary sweep management & collateral platform deployed by more than 200 banks & financial institutions in the U.S.
  • Protects you from fraud by only allowing transactions that move funds to and from the transaction account

Beneficial Ownership Requirements

All Northwest Bank & Trust Company business account holders will be required, due to regulatory reasons, to provide us with certain information on its Beneficial Owners. 

This information must be provided on our Beneficial Ownership Form before a new account can be opened, or any changes can be made to an existing account.