Last Updated: 04/18/2025
Magnifi Financial Business Advantage Checking Account
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Last Updated: 04/18/2025
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Highlights
Monthly Service Fee
ATM Fee: Out-of-Network (within the U.S.)
N/A
Minimum Average Balance to Avoid Monthly Service Fee
APY (Annual Percentage Yield)
Magnifi Financial Business Advantage Checking Account Review
Key Takeaways
- Higher than average APY. Magnifi Financial Business Advantage Checking Account has an annual percentage yield of up to 0.50% (depending on balance), which is higher than the national average interest rate on savings accounts.
- Waivable monthly maintenance fee. Account requirements to avoid $15/mo. service fee: • $25,000 daily aggregate deposit and loan balance
- No minimum initial deposit. There is no minimum balance required to open an account online.
- No ATM fees. Magnifi Financial Business Advantage Checking Account does not charge fees on ATM transactions .
Magnifi Financial Business Advantage Checking Account Pros & Cons
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Magnifi Financial Business Advantage Checking Account FAQ
Are business checking accounts from Magnifi Financial federally insured?
What APY does Magnifi Financial Business Advantage Checking Account offer?
| Rates | Amount |
| APY (Annualized Percentage Yield) | 0.35% - 0.50% |
What are the account minimums for Magnifi Financial Business Advantage Checking Account?
| Description | Amount |
| Minimum Initial Deposit | $0.00 |
| Minimum Combined Balance to Avoid Monthly Fee | $25,000.00 |
What fees does Magnifi Financial Business Advantage Checking Account charge?
| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Monthly Service Fee | $15.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ATM Fee: In-Network | Starting at $0.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What features and perks does Magnifi Financial Business Advantage Checking Account offer?
- Mobile Banking Services - Magnifi Financial Business Advantage Checking Account 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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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.