Savings Accounts | Minimum Balance | APY* | Dividend Rate |
---|
- Dividends compounded and paid quarterly.
- Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day. Dividends will begin to accrue on the business day your deposits are posted to your account.
Checking Accounts | Minimum Balance | APY* | Dividend Rate |
---|
- A minimum balance of $100 is required to open a business checking.
- Dividends are compounded and paid monthly.
- Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day if the balance is above the required minimum stated above. Dividends will begin to accrue on the business day your deposits are posted to your account.
Tier | Minimum Balance | APY* | Dividend Rate |
---|
- A minimum deposit of $500 is required to open a money market. Balances earn the dividend rate within the disclosed tier. Dividends will be compounded and paid monthly.
- Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day. Dividends will begin to accrue on the business day your deposits are posted to your account.
- Minimum withdrawal is $500 with three (3) free withdrawals per month without incurring a fee.
Term | Balance | APY | Dividend Rate |
---|
3 - 5 month |
6 - 11 month |
12 - 23 month |
24 – 35 month (24 month step up) |
36 – 47 month |
48 – 59 month |
60 month |
- A minimum balance of $500 is required to open a certificate and obtain the stated APY.
- The APY is quoted for three- and six-month certificates in those categories and dividends are paid at maturity. Other certificate dividends are paid monthly to another account or compounded and credited quarterly.
- Dividends will begin to accrue on the business day your deposit is posted to your account. Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
- Early withdrawal penalties may apply. See Certificate Account disclosure for complete details.
* APY is the Annual Percentage Yield and assumes dividends remain in the account. This document is a supplement to account disclosures. Rates are subject to change without notice. Fees or other conditions may also reduce earnings. Refer to the Business Service Fee schedule for current fee information. Contact a Hiway Business Services Representative at 651.291.1515 or 800.899.5626 for further information about applicable fees and terms.
Card | APR* (As low as) | DPR* (As low as) |
---|
* APY is the Annual Percentage Rate and DPR is the Daily Periodic Rate. Rates are effective 7/20/2023 and are subject to change without notice.
Advantage Business Checking | Fee |
---|
Minimum Opening Balance | $100 |
Monthly Maintenance Fee | $10 — waived with Business Debit Card and eDocuments |
Dividend Bearing | No |
Item Fees | 50 items* free per month $0.20 per item over 50 |
Electronic Debits & Credits | Free, unlimited Point-of-Sale (POS) transactions |
Business Debit Card | Yes |
Line of Credit Available | Yes† |
*Items include: checks deposited and on-us items.
†Qualifications apply.
Elite Business Checking | Fee |
---|
Minimum Opening Balance | $100 |
Monthly Maintenance Fee | $10 |
Dividend Bearing | Yes, $2,500 minimum daily balance to earn dividends |
Item Fees | 100 items* free per month $0.20 per item over 100 |
Electronic Debits & Credits | Free, unlimited Point-of-Sale (POS) transactions |
Business Debit Card | Yes |
Line of Credit Available | Yes† |
*Items include: checks deposited and on-us items.
†Qualifications apply.
Commercial Business Checking | Fee |
---|
Minimum Opening Balance | $100 |
Monthly Maintenance Fee | $20 |
Dividend Bearing | Yes, $5,000 minimum daily balance to earn dividends, tiered rate |
Item Fees | 250 items* free per month $0.20 per item over 250 |
Electronic Debits & Credits | Free, unlimited Point-of-Sale (POS) transactions |
Business Debit Card | Yes |
Line of Credit Available | Yes† |
*Items include: checks deposited and on-us items.
†Qualifications apply.
Select Checking | Fee |
---|
Minimum Opening Balance | $0 |
Monthly Maintenance Fee | $0 |
Dividend Bearing | No |
Item Fees | $0 |
Electronic Debits & Credits | Free, unlimited Point-of-Sale (POS) transactions |
Business Debit Card | Yes |
Line of Credit Available | Yes† |
†Qualifications apply.
Business Checking (all types) | Fee |
---|
ATM and Business Debit Cards | Fee |
---|
ATM Over 12 or Foreign Transaction Fee |
Business Share Savings | Fee |
---|
Item Fees | 25 items* free per month $0.20 per item over 25 |
*Items include: checks deposited and on-us items.
Convenience Services | Fee |
---|
Wire Transfer | Fee |
---|
NSF (Non-Sufficient Funds) | Fee |
---|
The categories of transactions for which an NSF fee may be imposed are: by check, in person withdrawal, ATM or other electronic means. |
Account Closeout | Fee |
---|
Check Cashing | Fee |
---|
Other Fees | Fee |
---|
Official Checks Fee (issued by Hiway) |
Cash Management | Fee |
---|
Monthly Remote Deposit Capture Fee | $50 (Scanner Free) |
Monthly ACH Fee | $25 |
ACH — Returns and Notifications of Change | $28 per item |
Unauthorized Returns Fee | $28 per item |
High and Low Balance Transfer Fee | $5 per transfer (fee posted monthly) |
Share | Par Value |
---|
Par Value of One Share | $5.00 |
** Single Service accounts have a Business Share Savings only. Check Cashing Fees are waived if balance on a Single Service Account is above $500.
1. Standard data rates may apply.
5. By appointment at the St. Paul Branch for Hiway members only. There is a $50 service fee for Hiway members, this is waived for Investment Services clients. Call Investment Services at 651.265.6100 for appointments.