Business Checking & Savings
Features
• Open with $500 deposit
• $16 maintenance fee waiver determined by earnings credit for balance*
• Online Treasury Management services available
• Free Business Online and Mobile Banking6
*Other fees may apply
[/dica_divi_carouselitem][dica_divi_carouselitem title=”Economy Checking” sub_title=”Especially designed for any organization or business with low levels of checking account activity and offers reduced monthly service charges.” button_url_new_window=”1″ content_padding=”||||false|false” _builder_version=”4.18.0″ _module_preset=”default” title_font=”Avenir Next Bold|700|||||||” title_text_align=”left” title_text_color=”#00587c” title_font_size=”20px” title_line_height=”1.4em” subtitle_font=”Avenir Next Regular||||||||” subtitle_text_align=”left” subtitle_font_size=”18px” subtitle_line_height=”1.3em” body_font=”Avenir Next Regular||||||||” body_text_align=”left” body_text_color=”#00587c” body_font_size=”18px” body_line_height=”1.3em” background_color=”RGBA(255,255,255,0)” background_enable_color=”on” custom_button=”on” button_text_size=”14px” button_text_color=”#FFFFFF” button_bg_color=”#00587c” button_border_color=”#00587c” button_border_radius=”6px” button_font=”Avenir Next Regular||||||||” button_alignment=”center” title_font_size_tablet=”20px” title_font_size_phone=”20px” title_font_size_last_edited=”on|desktop” subtitle_font_size_tablet=”20px” subtitle_font_size_phone=”20px” subtitle_font_size_last_edited=”on|desktop” body_font_size_tablet=”18px” body_font_size_phone=”18px” body_font_size_last_edited=”on|desktop” global_colors_info=”{}”]
Features
• Open with $250 deposit
• $12 maintenance fee can be waived by maintaining a $2500 minimum daily balance*
• 100 free transactions per cycle1
• Free Business Online and Mobile Banking6
*Other fees may apply
[/dica_divi_carouselitem][dica_divi_carouselitem title=”NOW Checking” sub_title=”A checking account with the income possibilities of a money market fund. Offered to sole proprietorships, nonprofits, governmental units, and funds held by a fiduciary.” button_url_new_window=”1″ content_padding=”||||false|false” _builder_version=”4.18.0″ _module_preset=”default” title_font=”Avenir Next Bold|700|||||||” title_text_align=”left” title_text_color=”#00587c” title_font_size=”20px” title_line_height=”1.4em” subtitle_font=”Avenir Next Regular||||||||” subtitle_text_align=”left” subtitle_font_size=”18px” subtitle_line_height=”1.3em” body_font=”Avenir Next Regular||||||||” body_text_align=”left” body_text_color=”#00587c” body_font_size=”18px” body_line_height=”1.3em” background_color=”RGBA(255,255,255,0)” background_enable_color=”on” custom_button=”on” button_text_size=”14px” button_text_color=”#FFFFFF” button_bg_color=”#00587c” button_border_color=”#00587c” button_border_radius=”6px” button_font=”Avenir Next Regular||||||||” button_alignment=”center” title_font_size_tablet=”20px” title_font_size_phone=”20px” title_font_size_last_edited=”on|desktop” subtitle_font_size_tablet=”20px” subtitle_font_size_phone=”20px” subtitle_font_size_last_edited=”on|desktop” body_font_size_tablet=”18px” body_font_size_phone=”18px” body_font_size_last_edited=”on|desktop” global_colors_info=”{}”]
Features
• Open with $1,000 deposit
• $14 maintenance fee can be waived by maintaining a $5000 minimum daily balance**
• Earn interest on your balance2
• 150 free transactions per cycle3
• Free Business Online and Mobile Banking6
*Other fees may apply
[/dica_divi_carouselitem][dica_divi_carouselitem title=”Community Checking” sub_title=”Developed for nonprofit and civic organizations with simple financial needs. Avoid monthly maintenance fees with low minimum balance requirements.” button_url_new_window=”1″ content_padding=”||||false|false” _builder_version=”4.18.0″ _module_preset=”default” title_font=”Avenir Next Bold|700|||||||” title_text_align=”left” title_text_color=”#00587c” title_font_size=”20px” title_line_height=”1.4em” subtitle_font=”Avenir Next Regular||||||||” subtitle_text_align=”left” subtitle_font_size=”18px” subtitle_line_height=”1.3em” body_font=”Avenir Next Regular||||||||” body_text_align=”left” body_text_color=”#00587c” body_font_size=”18px” body_line_height=”1.3em” background_color=”RGBA(255,255,255,0)” background_enable_color=”on” custom_button=”on” button_text_size=”14px” button_text_color=”#FFFFFF” button_bg_color=”#00587c” button_border_color=”#00587c” button_border_radius=”6px” button_font=”Avenir Next Regular||||||||” button_alignment=”center” title_font_size_tablet=”20px” title_font_size_phone=”20px” title_font_size_last_edited=”on|desktop” subtitle_font_size_tablet=”20px” subtitle_font_size_phone=”20px” subtitle_font_size_last_edited=”on|desktop” body_font_size_tablet=”18px” body_font_size_phone=”18px” body_font_size_last_edited=”on|desktop” global_colors_info=”{}”]
Features
• Open with $100 deposit
• $6 maintenance fee can be waived by maintaining a $500 minimum daily balance*
• 15 free POS transactions per cycle4
• 10 free deposits per cycle5
*Other fees may apply
[/dica_divi_carouselitem][/dica_divi_carousel][dica_divi_carousel show_items_desktop=”2″ loop=”on” arrow_nav=”on” dot_nav=”on” advanced_effect=”1″ arrow_nav_color=”#fe5d1c” arrow_bg_color=”#FFFFFF” dots_color=”#00587c” dots_active_color=”#fe5d1c” arrow_position=”middle-outside” use_prev_icon=”on” prev_icon=”<||divi||400″ use_next_icon=”on” next_icon=”=||divi||400″ arrow_font_size=”35px” carousel_container_margin=”||||false|false” content_container_margin=”||20px||false|false” content_container_padding=”|20px||20px|false|false” social_container_padding=”||||false|false” disabled_on=”on|on|off” _builder_version=”4.18.0″ _module_preset=”default” subtitle_font_size=”20px” body_line_height=”1.3em” nav_icon_line_height=”1em” background_color=”RGBA(255,255,255,0)” custom_margin=”130px||||false|false” custom_padding=”||||false|false” border_color_all_item=”RGBA(255,255,255,0)” global_colors_info=”{}”][dica_divi_carouselitem title=”Commercial Savings” sub_title=”This account offers maximum flexibility – earn interest and retain immediate access to your money. ” button_url_new_window=”1″ content_padding=”||||false|false” custom_margin=”||||false|false” custom_padding=”||||false|false” _builder_version=”4.18.0″ _module_preset=”default” title_font=”Avenir Next Bold|700|||||||” title_text_align=”left” title_text_color=”#00587c” title_font_size=”20px” title_line_height=”1.4em” subtitle_font=”Avenir Next Regular||||||||” subtitle_text_align=”left” subtitle_font_size=”18px” subtitle_line_height=”1.3em” body_font=”Avenir Next Regular||||||||” body_text_align=”left” body_text_color=”#00587c” body_font_size=”18px” body_line_height=”1.3em” background_color=”RGBA(255,255,255,0)” background_enable_color=”on” custom_button=”on” button_text_size=”14px” button_text_color=”#FFFFFF” button_bg_color=”#00587c” button_border_color=”#00587c” button_border_radius=”6px” button_font=”Avenir Next Regular||||||||” button_alignment=”center” title_font_size_tablet=”20px” title_font_size_phone=”20px” title_font_size_last_edited=”on|desktop” subtitle_font_size_tablet=”20px” subtitle_font_size_phone=”20px” subtitle_font_size_last_edited=”on|desktop” body_font_size_tablet=”18px” body_font_size_phone=”18px” body_font_size_last_edited=”on|desktop” global_colors_info=”{}”]
Features
• Open with $250 deposit
• $6 monthly maintenance fee can be waived by maintaining a $2,500 minimum daily balance*
*Other fees may apply
[/dica_divi_carouselitem][dica_divi_carouselitem title=”Commercial Money Market” sub_title=”Earn interest at money market rates and provides you the ability to withdraw funds when necessary. ” button_url_new_window=”1″ content_padding=”||||false|false” _builder_version=”4.18.0″ _module_preset=”default” title_font=”Avenir Next Bold|700|||||||” title_text_align=”left” title_text_color=”#00587c” title_font_size=”20px” title_line_height=”1.4em” subtitle_font=”Avenir Next Regular||||||||” subtitle_text_align=”left” subtitle_font_size=”18px” subtitle_line_height=”1.3em” body_font=”Avenir Next Regular||||||||” body_text_align=”left” body_text_color=”#00587c” body_font_size=”18px” body_line_height=”1.3em” background_color=”RGBA(255,255,255,0)” background_enable_color=”on” custom_button=”on” button_text_size=”14px” button_text_color=”#FFFFFF” button_bg_color=”#00587c” button_border_color=”#00587c” button_border_radius=”6px” button_font=”Avenir Next Regular||||||||” button_alignment=”center” title_font_size_tablet=”20px” title_font_size_phone=”20px” title_font_size_last_edited=”on|desktop” subtitle_font_size_tablet=”20px” subtitle_font_size_phone=”20px” subtitle_font_size_last_edited=”on|desktop” body_font_size_tablet=”18px” body_font_size_phone=”18px” body_font_size_last_edited=”on|desktop” global_colors_info=”{}”]
Features
• Open with $1,000 deposit
• $15 monthly maintenance fee can be waived by maintaining a $5,000 minimum daily balance*
• $2,500 minimum daily balance to earn interest
*Other fees may apply
[/dica_divi_carouselitem][dica_divi_carouselitem title=”Certificate of Deposit (CD)” sub_title=”This investment account gives you the right combination of safety and flexibility.” button_url_new_window=”1″ content_padding=”||||false|false” _builder_version=”4.18.0″ _module_preset=”default” title_font=”Avenir Next Bold|700|||||||” title_text_align=”left” title_text_color=”#00587c” title_font_size=”20px” title_line_height=”1.4em” subtitle_font=”Avenir Next Regular||||||||” subtitle_text_align=”left” subtitle_font_size=”18px” subtitle_line_height=”1.3em” body_font=”Avenir Next Regular||||||||” body_text_align=”left” body_text_color=”#00587c” body_font_size=”18px” body_line_height=”1.3em” background_color=”RGBA(255,255,255,0)” background_enable_color=”on” custom_button=”on” button_text_size=”14px” button_text_color=”#FFFFFF” button_bg_color=”#00587c” button_border_color=”#00587c” button_border_radius=”6px” button_font=”Avenir Next Regular||||||||” button_alignment=”center” title_font_size_tablet=”20px” title_font_size_phone=”20px” title_font_size_last_edited=”on|desktop” subtitle_font_size_tablet=”20px” subtitle_font_size_phone=”20px” subtitle_font_size_last_edited=”on|desktop” body_font_size_tablet=”18px” body_font_size_phone=”18px” body_font_size_last_edited=”on|desktop” global_colors_info=”{}”]
Features
• Current interest rate is guaranteed for the entire term of the CD.
• You determine the amount to invest and the length of the term.
• Ask about our interest-allocation options.
Substantial penalty for early withdrawal.
[/dica_divi_carouselitem][/dica_divi_carousel]
1. A $.35 fee will be assessed for each debit/credit and/or deposited item after 100 per statement cycle. 2. A $2,500 minimum daily balance is required to earn interest. 3. A $.35 fee will be assessed for each debit/credit and/or deposited item after 150 per statement cycle. 4. A $.50 fee will be assessed for each Check/Point of Sale transaction after 15 per statement cycle. 5. A $.50 fee will be assessed for each deposit after 10 per statement cycle. 6.Ask your M&F Bank representative about enrollment and systems requirements.
Business Investment Options
Investment Sweep Account
Especially designed for businesses that wish to achieve higher earnings from excess checking account balances while maintaining the ability to utilize their checking account for deposits and checkwriting. Balances in excess of a pre-determined target balance are automatically “swept” overnight from your Regular Commercial Checking Account into the Investment Sweep Account. Individual accounts must be subject to analysis.
Certificate of Deposit (CD)
This investment account gives you the right combination of safety and flexibility while investing money. The current interest rate is guaranteed for the entire term of the CD. You determine the amount to invest and the length of the term. Be sure to ask about our interest-allocation options.
Substantial penalty for early withdrawal.
1. A $.35 fee will be assessed for each debit/credit and/or deposited item after 100 (per statement cycle). 2. A $2,500 minimum daily balance is required to earn interest. 3. A $.35 fee will be assessed for each debit/credit and/or deposited item after 150 (per statement cycle).4. A $.50 fee will be assessed for each Check/Point of Sale transaction after 15 (per statement cycle) 5. A $.50 fee will be assessed for each deposit after 10 (per statement cycle). 6.Ask your M&F Bank representative about enrollment and systems requirements.
We understand the demands of operating your business extends beyond regular business hours, so we offer Business Online Banking with Treasury Management Services — making managing your business’ finances possible 24 hours a day, 7 days a week.
Mobiliti Business
Our business mobile banking app provides the ease needed to manage your finances on the go. All you need is your M&F Bank business online banking username and password, and a mobile device that can download the app, access the web and has text messaging/SMS capability.
Wire Transfer
A safe, fast, and convenient method to transfer money anywhere in the USA to and from your account. Wire transfers can be initiated online or at a branch office, and usually can be sent and received in the same business day.
Remote Deposit Capture
This service allows our business customers the convenience of depositing checks that your receive at your location, without ever having to come to the bank. Checks can be scanned to create a digital deposit. The digital deposit is then transmitted (over and encrypted internet connection) to M&F Bank, where we accept and post the deposit to your account.
Bill Pay
This option allows your to schedule one-time, variable or recurring electronic payments. You can set up, edit and view your payee list, and review your payment history. Reduces paperwork and costs.
Positive Pay
Positive Pay is offered as an automated fraud detection tool. It is designed to identify fraudulent checks and presenters. This service will match account number, check number, and dollar amount of each check presented for payment against a list of check previously authorized and issued by your company. Upon each completion of a check run, your company prepares a formatted checks issued data file (including check number, amount and date, as well as account information) and transmits this data to the bank.
ACH Origination
This external fund transfer service provides easy, convenient transfer options including:
Direct Deposit of Payroll | Payroll is deposited directly into your employees’ checking or savings account at their banks. Direct deposit ensures that your employees receive timely deposit of their paychecks and lowers your company’s processing costs.
Direct Payment | Reduces accounts payable paperwork and costs by allowing your to make automated recurring payments.
Returns and Reversals | If entries are received or processed in error your company can originate a return or reversal.
All M&F Bank Business accounts give you access to Business Online Banking allowing you to:
• Review detailed balance and transaction reports
• Transfer funds between M&F Bank accounts
• Download information into popular financial software such as Quicken®, QuickBooks®, and Microsoft® Money
• Initiate and view stop payments
• Receive customized email alerts, and more.
Business Checking & Savings
Features
• Open with $500 deposit
• $16 maintenance fee waiver determined by earnings credit for balance*
• Online Treasury Management Services available
• Free Business Online Banking6
*Other fees may apply
[/dica_divi_carouselitem][dica_divi_carouselitem title=”Economy Checking” sub_title=”Especially designed for any organization or business with low levels of checking account activity and offers reduced monthly service charges.” button_url_new_window=”1″ content_padding=”||||false|false” _builder_version=”4.18.0″ _module_preset=”default” title_font=”Avenir Next Bold|700|||||||” title_text_align=”left” title_text_color=”#00587c” title_font_size=”20px” title_line_height=”1.4em” subtitle_font=”Avenir Next Regular||||||||” subtitle_text_align=”left” subtitle_font_size=”20px” subtitle_line_height=”1.3em” body_font=”Avenir Next Regular||||||||” body_text_align=”left” body_text_color=”#00587c” body_font_size=”18px” body_line_height=”1.2em” background_color=”RGBA(255,255,255,0)” background_enable_color=”on” custom_button=”on” button_text_size=”14px” button_text_color=”#FFFFFF” button_bg_color=”#00587c” button_border_color=”#00587c” button_border_radius=”6px” button_font=”Avenir Next Regular||||||||” button_alignment=”center” title_font_size_tablet=”20px” title_font_size_phone=”16px” title_font_size_last_edited=”on|desktop” subtitle_font_size_tablet=”16px” subtitle_font_size_phone=”14px” subtitle_font_size_last_edited=”on|tablet” body_font_size_tablet=”16px” body_font_size_phone=”16px” body_font_size_last_edited=”on|tablet” global_colors_info=”{}”]
Features
• Open with $250 deposit
• $12 maintenance fee can be waived by maintaining a $2500 minimum daily balance*
• 100 free transactions per cycle1
• Free Business Online Banking6
*Other fees may apply
[/dica_divi_carouselitem][dica_divi_carouselitem title=”NOW Checking” sub_title=”A checking account with the income possibilities of a money market fund. Offered to sole proprietorships, nonprofits, governmental units, and funds held by a fiduciary.” button_url_new_window=”1″ content_padding=”||||false|false” _builder_version=”4.18.0″ _module_preset=”default” title_font=”Avenir Next Bold|700|||||||” title_text_align=”left” title_text_color=”#00587c” title_font_size=”20px” title_line_height=”1.4em” subtitle_font=”Avenir Next Regular||||||||” subtitle_text_align=”left” subtitle_font_size=”20px” subtitle_line_height=”1.3em” body_font=”Avenir Next Regular||||||||” body_text_align=”left” body_text_color=”#00587c” body_font_size=”18px” body_line_height=”1.2em” background_color=”RGBA(255,255,255,0)” background_enable_color=”on” custom_button=”on” button_text_size=”14px” button_text_color=”#FFFFFF” button_bg_color=”#00587c” button_border_color=”#00587c” button_border_radius=”6px” button_font=”Avenir Next Regular||||||||” button_alignment=”center” title_font_size_tablet=”20px” title_font_size_phone=”16px” title_font_size_last_edited=”on|desktop” subtitle_font_size_tablet=”16px” subtitle_font_size_phone=”14px” subtitle_font_size_last_edited=”on|desktop” body_font_size_tablet=”16px” body_font_size_phone=”16px” body_font_size_last_edited=”on|phone” global_colors_info=”{}”]
Features
• Open with $1,000 deposit
• $14 maintenance fee can be waived by maintaining a $5000 minimum daily balance*
• Earn interest on your balance2
• 150 free transactions per cycle3
• Free Business Online Banking6
*Other fees may apply
[/dica_divi_carouselitem][dica_divi_carouselitem title=”Community Checking” sub_title=”Developed for nonprofit and civic organizations with simple financial needs. Avoid monthly maintenance fees with low minimum balance requirements.” button_url_new_window=”1″ content_padding=”||||false|false” _builder_version=”4.18.0″ _module_preset=”default” title_font=”Avenir Next Bold|700|||||||” title_text_align=”left” title_text_color=”#00587c” title_font_size=”20px” title_line_height=”1.4em” subtitle_font=”Avenir Next Regular||||||||” subtitle_text_align=”left” subtitle_font_size=”20px” subtitle_line_height=”1.3em” body_font=”Avenir Next Regular||||||||” body_text_align=”left” body_text_color=”#00587c” body_font_size=”18px” body_line_height=”1.2em” background_color=”RGBA(255,255,255,0)” background_enable_color=”on” custom_button=”on” button_text_size=”14px” button_text_color=”#FFFFFF” button_bg_color=”#00587c” button_border_color=”#00587c” button_border_radius=”6px” button_font=”Avenir Next Regular||||||||” button_alignment=”center” title_font_size_tablet=”20px” title_font_size_phone=”16px” title_font_size_last_edited=”on|desktop” subtitle_font_size_tablet=”16px” subtitle_font_size_phone=”14px” subtitle_font_size_last_edited=”on|desktop” body_font_size_tablet=”16px” body_font_size_phone=”16px” body_font_size_last_edited=”on|phone” global_colors_info=”{}”]
Features
• Open with $100 deposit
• $6 maintenance fee can be waived by maintaining a $500 minimum daily balance*
• 15 free POS transactions per cycle4
• 10 free deposits per cycle5
*Other fees may apply
[/dica_divi_carouselitem][/dica_divi_carousel][dica_divi_carousel show_items_desktop=”2″ show_items_tablet=”2″ loop=”on” arrow_nav=”on” dot_nav=”on” advanced_effect=”1″ arrow_nav_color=”#fe5d1c” arrow_bg_color=”#FFFFFF” dots_color=”#00587c” dots_active_color=”#fe5d1c” arrow_position=”middle-outside” use_prev_icon=”on” prev_icon=”<||divi||400″ use_next_icon=”on” next_icon=”=||divi||400″ arrow_font_size=”21px” carousel_container_margin=”||||false|false” content_container_margin=”||||false|false” content_container_padding=”|20px||20px|false|false” social_container_padding=”||||false|false” disabled_on=”off|off|on” _builder_version=”4.18.0″ _module_preset=”default” body_line_height=”1.3em” nav_icon_line_height=”1em” background_color=”RGBA(255,255,255,0)” custom_margin=”20px||||false|false” custom_padding=”||||false|false” border_color_all_item=”RGBA(255,255,255,0)” global_colors_info=”{}”][dica_divi_carouselitem title=”Commercial Savings” sub_title=”This account offers maximum flexibility – earn interest and retain immediate access to your money. ” button_url_new_window=”1″ content_padding=”||||false|false” custom_margin=”||||false|false” custom_padding=”||-60px||false|false” _builder_version=”4.18.0″ _module_preset=”default” title_font=”Avenir Next Bold|700|||||||” title_text_align=”left” title_text_color=”#00587c” title_font_size=”20px” title_line_height=”1.4em” subtitle_font=”Avenir Next Regular||||||||” subtitle_text_align=”left” subtitle_font_size=”20px” subtitle_line_height=”1.3em” body_font=”Avenir Next Regular||||||||” body_text_align=”left” body_text_color=”#00587c” body_font_size=”18px” body_line_height=”1.2em” background_color=”RGBA(255,255,255,0)” background_enable_color=”on” custom_button=”on” button_text_size=”14px” button_text_color=”#FFFFFF” button_bg_color=”#00587c” button_border_color=”#00587c” button_border_radius=”6px” button_font=”Avenir Next Regular||||||||” button_alignment=”center” title_font_size_tablet=”20px” title_font_size_phone=”16px” title_font_size_last_edited=”on|phone” subtitle_font_size_tablet=”16px” subtitle_font_size_phone=”14px” subtitle_font_size_last_edited=”on|tablet” body_font_size_tablet=”16px” body_font_size_phone=”16px” body_font_size_last_edited=”on|phone” global_colors_info=”{}”]
Features
• Open with $250 deposit
• $6 monthly maintenance fee can be waived by maintaining a $2,500 minimum daily balance*
*Other fees may apply
[/dica_divi_carouselitem][dica_divi_carouselitem title=”Commercial Money Market” sub_title=”Earn interest at money market rates and provides you the ability to withdraw funds when necessary. ” button_url_new_window=”1″ content_padding=”||||false|false” _builder_version=”4.18.0″ _module_preset=”default” title_font=”Avenir Next Bold|700|||||||” title_text_align=”left” title_text_color=”#00587c” title_font_size=”20px” title_line_height=”1.4em” subtitle_font=”Avenir Next Regular||||||||” subtitle_text_align=”left” subtitle_font_size=”20px” subtitle_line_height=”1.3em” body_font=”Avenir Next Regular||||||||” body_text_align=”left” body_text_color=”#00587c” body_font_size=”18px” body_line_height=”1.2em” background_color=”RGBA(255,255,255,0)” background_enable_color=”on” custom_button=”on” button_text_size=”14px” button_text_color=”#FFFFFF” button_bg_color=”#00587c” button_border_color=”#00587c” button_border_radius=”6px” button_font=”Avenir Next Regular||||||||” button_alignment=”center” title_font_size_tablet=”20px” title_font_size_phone=”16px” title_font_size_last_edited=”on|desktop” subtitle_font_size_tablet=”16px” subtitle_font_size_phone=”14px” subtitle_font_size_last_edited=”on|desktop” body_font_size_tablet=”16px” body_font_size_phone=”16px” body_font_size_last_edited=”on|tablet” global_colors_info=”{}”]
Features
• Open with $1,000 deposit
• $15 monthly maintenance fee can be waived by maintaining a $5,000 minimum daily balance*
• $2,500 minimum daily balance to earn interest
*Other fees may apply
[/dica_divi_carouselitem][dica_divi_carouselitem title=”Certificate of Deposit (CD)” sub_title=”This investment account gives you the right combination of safety and flexibility.” button_url_new_window=”1″ content_padding=”||||false|false” _builder_version=”4.18.0″ _module_preset=”default” title_font=”Avenir Next Bold|700|||||||” title_text_align=”left” title_text_color=”#00587c” title_font_size=”20px” title_line_height=”1.4em” subtitle_font=”Avenir Next Regular||||||||” subtitle_text_align=”left” subtitle_font_size=”20px” subtitle_line_height=”1.3em” body_font=”Avenir Next Regular||||||||” body_text_align=”left” body_text_color=”#00587c” body_font_size=”18px” body_line_height=”1.2em” background_color=”RGBA(255,255,255,0)” background_enable_color=”on” custom_button=”on” button_text_size=”14px” button_text_color=”#FFFFFF” button_bg_color=”#00587c” button_border_color=”#00587c” button_border_radius=”6px” button_font=”Avenir Next Regular||||||||” button_alignment=”center” title_font_size_tablet=”20px” title_font_size_phone=”16px” title_font_size_last_edited=”on|desktop” subtitle_font_size_tablet=”16px” subtitle_font_size_phone=”14px” subtitle_font_size_last_edited=”on|desktop” body_font_size_tablet=”16px” body_font_size_phone=”16px” body_font_size_last_edited=”on|phone” global_colors_info=”{}”]
Features
• Current interest rate is guaranteed for the entire term of the CD.
• You determine the amount to invest and the length of the term.
• Ask about our interest-allocation options.
Substantial penalty for early withdrawal.
[/dica_divi_carouselitem][/dica_divi_carousel]
Business Investment Options
Investment Sweep Account
Especially designed for businesses that wish to achieve higher earnings from excess checking account balances while maintaining the ability to utilize their checking account for deposits and checkwriting. Balances in excess of a pre-determined target balance are automatically “swept” overnight from your Regular Commercial Checking Account into the Investment Sweep Account. Individual accounts must be subject to analysis.
Certificate of Deposit (CD)
This investment account gives you the right combination of safety and flexibility while investing money. The current interest rate is guaranteed for the entire term of the CD. You determine the amount to invest and the length of the term. Be sure to ask about our interest-allocation options.
Substantial penalty for early withdrawal.
1. A $.35 fee will be assessed for each debit/credit and/or deposited item after 100 per statement cycle. 2. A $2,500 minimum daily balance is required to earn interest. 3. A $.35 fee will be assessed for each debit/credit and/or deposited item after 150 per statement cycle. 4. A $.50 fee will be assessed for each Check/Point of Sale transaction after 15 per statement cycle. 5. A $.50 fee will be assessed for each deposit after 10 per statement cycle. 6.Ask your M&F Bank representative about enrollment and systems requirements.
Direct Deposit of Payroll | Payroll is deposited directly into your employees’ checking or savings – ensuring timely deposit of paychecks and lowers your company’s processing costs.
Direct Payment | Reduces accounts payable paperwork and costs by allowing your to make automated recurring payments.
Returns and Reversals | If entries are received or processed in error your company can originate a return or reversal.
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Our business mobile banking app provides the ease needed to manage your finances on the go. All you need is your M&F Bank business online banking username and password, and a mobile device that can download the app, access the web and has text messaging/SMS capability.
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Positive Pay is an automated fraud detection tool designed to identify fraudulent checks and presenters. This service will match account number, check number, and dollar amount of each check presented for payment against a list of check previously authorized and issued by your company.
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A safe, fast, and convenient method to transfer money anywhere in the USA to and from your account. Wire transfers can be initiated online or at a branch office, and usually can be sent and received in the same business day.
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This service allows our business customers the convenience of depositing checks that your receive at your location, without ever having to come to the bank. Checks can be scanned to create a digital deposit. The digital deposit is then transmitted (over and encrypted internet connection) to M&F Bank, where we accept and post the deposit to your account.
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This option allows your to schedule onetime, variable or recurring electronic payments. You can set up, edit and view your payee list, and review your payment history. Reduces paperwork and costs.
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All M&F Bank Business accounts give you access to Business Online Banking allowing you to:
• Review detailed balance and transaction reports
• Transfer funds between M&F Bank accounts
• Download information into popular financial software such as Quicken®, QuickBooks®, and Microsoft® Money
• Initiate and view stop payments
• Receive customized email alerts, and more.
