Business Deposit Products

Franklin is pleased to offer a variety of deposit accounts that fit the needs of any size business.

Basic Business Checking

This is an ideal account for any business.

  • No monthly fee with a $600 minimum daily balance
    • $7 monthly fee if daily balance falls below $600
  • Access to our enhanced Business Banking Platform including eStatements, Bill Pay, Account Transfers and much more! *See fee schedule

Basic Business Checking Plus

This is the perfect account for sole proprietorships and non-profit organizations who want to earn interest.

  • No monthly fee with a $600 minimum daily balance
    • $7 monthly fee if daily balance falls below $600
  • Access to our enhanced Business Banking Platform including eStatements, Bill Pay, Account Transfers and much more! *See fee schedule
  • Interest bearing if your business meets regulatory requirements

Commercial Checking

This account is designed for larger businesses.

  • No minimum daily balance requirement
  • Minimum to open:  $500 for Sole Proprietors; $1000 for LLCs, Partnerships and Corporations
  • $10 monthly maintenance fee and checks paid at $.15 cents.
    • To offset all or part of your service charges, earnings credits will be applied based on the average collected balance minus a 10% Reserve Requirement at the 91 T-bill rate average.

Money Market Plus

The convenience of a checking account with the interest of a savings account.

  • No monthly fee  for daily balances of $1,000 and over.
    • $10 monthly fee if daily balance falls below $1,000.
  • Tiered interest  paid on balance of $5,000 and over.
  • Unlimited over-the-counter withdrawals.

Premier Business Money Market

Ideal for a business that usually maintains higher balances, wants to earn interest, and desires flexibility for withdrawals and transfers. 

  • No monthly fee  with a $5,000 minimum daily balance.
    • $15 monthly fee if daily balance falls below $5,000.
  • Blended tiered interest-bearing account; minimum balance of $1 to earn interest.
  • Access to our enhanced Business Banking Platform including eStatements, Bill Pay, Account Transfers and more! *See fee schedule
  • One Premier Business Money Market Account per Tax Identification Number. 

 

IMPORTANT INFORMATION ABOUT OPENING A LEGAL ENTITY ACCOUNT: Effective May 11, 2018, new rules under the Bank Secrecy Act will aid the government in the fight against crimes to evade financial measures designed to combat terrorism and other national security threats.
EACH time an account is opened for a covered Legal Entity, we are required to ask you for identifying information (name, address, date of birth, social security number as well as identification documents) for:
  • Each individual that has beneficial ownership (25% or more); and,
  • One individual that has significant managerial control, of the Legal Entity.
If you are opening the acocunt on behalf of a Legal Entity, you will be required to provide the appropriate documentation and to certify that this information is true and accurate to the best of your knowledge.
We proudly support all efforts to protect and maintain the security of our customers and our country.