Saving extra operating cash is great, but not if you can’t access it quickly. Get tiered interest and more access to funds with this account. Apply now and enjoy a streamlined business banking experience.
Supporting local businesses since 1934, we are a full-service bank offering business checking accounts and other business services in Fond du Lac, Oshkosh, Waupun, and the Fox Valley area.
Best For
- Small and medium-sized businesses
- Businesses with seasonal cash flow
- Businesses planning for large expenses
- Businesses seeking liquidity
- Businesses looking to earn interest on excess cash
Account Features
- Unlimited withdrawals (including check writing)
- Minimum opening deposit of $5,000
- Tiered interest rate
- $10 monthly maintenance fee may be waived with $5,000 average daily balance
- $5 paper statement fee waived with digital statements
Benefits of Business Money Market
- FDIC Insured
- Check-writing capabilities
- Stability and Safety
- Earn higher interest rate on your account balances
- Liquidity
- FVSBank Digital Banking
- Your Employer Identifcation Number (EIN) or Tax ID number
2. Articles of Incorporation, Articles of Organization, or a charter or a simliar legal document that indicates when your company was formed (not required for sole proprietors)
3. Government-issued photo ID and Social Security number for you and anyone else authorized to sign checks or make transactions on behalf of your organization
Business Money Market FAQs
What is a business money market account?
A business money market account (MMA) is a type of savings account designed for businesses. It offers higher interest rates than traditional savings accounts while providing unlimited check-writing.
What are the benefits of a business money market account?
Business money market accounts offer several benefits, including higher interest rates, easy access to funds, FDIC insurance, and the ability to write an unlimited number of checks. They are ideal for managing excess cash reserves while earning interest.
Are business money market accounts insured?
Yes, all deposits owned by a corporation, partnership, or unincorporated association at the same bank are combined and insured up to $250,000.
How does a business money market account differ from a business savings account?
While both account types earn interest, business money market accounts typically offer higher interest rates and provide check-writing privileges. Business savings accounts usually offer lower interest rates.
Can I use a business money market account for daily transactions?
Business money market accounts are not designed for daily transactions. They are better suited for managing excess cash reserves, earning interest, and having access to funds for occasional, larger expenses.
Can I link a business money market account to other business accounts?
Yes, you can link a business money market account to other business accounts, such as checking or savings accounts, to facilitate transfers and better manage your finances.
What is the difference between a business money market account and a business money market fund?
A business money market account is a type of savings account offered by FVSBank, while a business money market fund is an investment product. Money market funds invest in short-term, low-risk securities and are not FDIC-insured.
What are the requirements to open a business money market account?
Requirements may vary by financial institution, but FVSBank requirements inlcude providing business documentation (such as tax ID, articles of incorporation, or partnership requirements) and maintaining a minimum balance to avoid a monthly fee.