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  Gate City Bank Business Interest Checking

Gate City Bank Business Interest Checking

in Business Checking Accounts from Gate City Bank · fdic

Unaffiliated

Gate City Bank Business Interest Checking

Unaffiliated

in Business Checking Accounts from Gate City Bank · Member FDIC

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Highlights
Monthly Fee $6
ATM Fee: Out-of-Network $0
Minimum Balance to Avoid Monthly Fee Starting at $1,500
APY (Annual Percentage Yield) 0.01%

Gate City Bank Business Interest Checking Review

Gate City Bank Business Interest Checking is offered by Gate City Bank, a bank founded in 1923 and based in Fargo, ND. Gate City Bank Business Interest Checking is available in 2 states across the USA.

Key Takeaways
  • Low APY. The maximum annual percentage yield for this account is only 0.01%.
  • $0 monthly Service Charge available. This account charges a monthly service fee of $6, but the fee is waived if you keep a minimum balance of $1,500.
  • No ATM fees. Gate City Bank Business Interest Checking does not charge fees on ATM transactions.
  • ATM fee reimbursements. This account will reimburse you for ATM fees (see terms and conditions for details).
  • Bill pay. Pay your bills to practically anyone in the United States through Gate City Bank.
Gate City Bank Business Interest Checking Pros & Cons
Pros Cons
  • Monthly service fee waived (see terms for requirements).
  • Interest-yielding account.
  • Access to physical branches.
  • Free debit card and the option to lock/unlock the card if lost or stolen
  • No signup bonus.
  • Only available in 2 states.
  • Monthly service charge.
Gate City Bank Business Interest Checking FAQ

Are business checking accounts from Gate City Bank federally insured?

Yes, your Gate City Bank business checking accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #27774). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What APY does Gate City Bank Business Interest Checking offer?

Gate City Bank Business Interest Checking Rates & Terms
Description
APY (Annual Percentage Yield) 0.01%

Gate City Bank Business Interest Checking offers an APY of 0.01% (APY stands for annual percentage yield, rates may change). However, to earn interest you must keep a minimum balance of $1500.

What are the account minimums for Gate City Bank Business Interest Checking?

Gate City Bank Business Interest Checking requires a minimum initial deposit of $50 to open an account.

Gate City Bank Business Interest Checking Account Minimums
Description Amount
Minimum Initial Deposit $50
APY Minimum Balance $1,500
Minimum Balance to Avoid Monthly Fee $1,500

What fees does Gate City Bank Business Interest Checking charge?

The good news is that this account does not have a monthly service charge.

Gate City Bank Business Interest Checking Fees
Description
ATM Fee: In-Network $0
ATM Fee: Out-of-Network $0
Foreign Transaction Fee (Debit Card) 2%
Monthly Fee $6
NSF Fee $32
Online Bill Pay Fee $0
Overdraft Item Fee $32
Returned Deposit Fee (Domestic) $13
Returned Deposit Fee (International) $13
Stop Payment Fee $27
Wire Transfer Fee - Domestic (Incoming) $10
Wire Transfer Fee - International (Incoming) $22

What features and perks does Gate City Bank Business Interest Checking offer?

This account includes the following features:

  • ATM reimbursement - This account will reimburse you for the ATM fees charged by other networks.
  • Fraud monitoring - Gate City Bank Business Interest Checking monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location or you make a sudden string of costly purchases.
  • Free Bill Pay - Bill Pay allows you to pay bills easily from your account.
  • Mobile Banking Services - Gate City Bank Business Interest Checking allows you to manage your money online. This includes depositing checks in your account with your smartphone.
  • Nationwide ATM network - Conveniently transact at a nearby ATM.
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Message From Gate City Bank Business Interest Checking

An ideal account for sole proprietors. Business Interest Checking is the perfect account for sole proprietorships. Enjoy all of the benefits this account has to offer and earn interest too.

Availability

  Available in 2 states
  • Minnesota
  • North Dakota

Feature Breakdown

APY Minimum Balance $1,500
Minimum Balance to Avoid Monthly Fee Starting at $1,500
Minimum Opening Deposit Starting at $50
ATM Fee: In-Network $0
ATM Fee: Out-of-Network $0
Online Bill Pay Fee $0
Foreign Transaction Fee (Debit Card) 2%
Monthly Fee $6
NSF Fee $32
Overdraft Item Fee $32
Returned Deposit Fee (Domestic) $13
Returned Deposit Fee (International) $13
Stop Payment Fee $27
Wire Transfer Fee - Domestic (Incoming) $10
Wire Transfer Fee - International (Incoming) $22
Account Features
  • No ATM Fees
  • Member FDIC
  • Branch Access
  • Debit Card
  • Free Bill Pay
  • Fraud Protection
  • Debit Card Lock/Unlock
  • Fraud Monitoring
  • Mobile Banking
  • Nationwide ATM Network
  • ATM Reimbursement
  • Interest Bearing Account
  • No Monthly Maintenance Fee
  • Mobile Check Deposit
APY (Annual Percentage Yield) 0.01%

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