Which Type of Account is Best for Me – Strictly Business Checking or Community Checking?

Did you know that Mercer Savings Bank’s business checking accounts are not just for traditional for-profit businesses? Sure, if you’ve opened a boutique or restaurant franchise, we’ve got you covered, but we also have checking accounts designed for every other type of non-personal need.

Some examples of types of “businesses” we don’t often think of as businesses include:

• Trusts and estates. If you are a trustee of a trust or executor of an estate, you’ll need a business account because in the eyes of the IRS, that trust or estate is a separate legal entity.
• Churches and charitable organizations. Churches and other types of 501(c)(3) nonprofit organizations are also businesses.
• Other non-profit organizations. In addition to charitable organizations, many other groups can apply to receive non-profit status for tax purposes. Those groups are also considered businesses, including boy scout or girl scout groups, schools, class reunions, foundations and membership organizations.

Strictly Business Checking vs. Community Checking

As a general rule, Mercer Savings Bank’s Strictly Business Checking Account is the option for all for-profit businesses, including DBAs, corporations, LLCs and partnerships. This is also the choice for trust and estate accounts. Learn more about Strictly Business Checking Accounts here.

The option for nonprofit accounts, such as churches, charitable organizations, membership organizations and clubs, schools, class reunions, and any other type of not-for-profit organization is Mercer Savings Bank’s Community Checking Account.

Regardless of which type of checking account you choose, all Mercer Savings Bank business customers can expect the same great expertise, business know-how and product knowledge from our business banking specialists. All of our checking accounts come with a free Visa debit card, offering businesses added convenience and flexibility.

Whatever your reason for needing a business checking account, Mercer Savings Bank has an option designed for you.

To learn more about the business checking account options at Mercer Savings Bank and to find out why both for-profit and not-for-profit businesses have trusted Mercer Savings Bank as their business banking partner for more than 125 years, contact us today in Celina, Ft. Recovery or Greenville.