Business Savings Account in Old National Bank
Business Savings Account — Old National Bank
Grow your company’s reserves with flexibility, security, and smart tools designed for small and mid-sized businesses.
Overview
The Business Savings Account at Old National Bank is built to help businesses manage cash reserves, earn competitive returns, and preserve liquidity for payroll, taxes, capital expenditures, or unexpected expenses. Combining reliable FDIC-backed protection with digital convenience and personalized service, this account is ideal for entrepreneurs, nonprofits, and established companies seeking a dependable place to store working capital while keeping funds accessible when they’re needed.
Key Features
- Competitive interest earnings: Grow idle cash with tiered interest options that reward higher balances.
- FDIC insurance: Deposits are FDIC-insured up to applicable limits, providing peace of mind for your business funds.
- Easy transfers: Move money between business checking and savings accounts quickly via online or mobile banking.
- No-nonsense account management: Clear statements, customizable alerts, and business-friendly reporting tools.
- Minimum balance options: Flexible balance requirements and tiered fee structures to fit different business sizes and cash flow patterns.
- Access to local relationship managers: Work with a dedicated banker for cash management strategies, lending needs, and treasury services.
- Seamless digital experience: Full access through Old National’s online and mobile platforms, including mobile deposit for qualified accounts.
Benefits for Your Business
Choosing the right place for your business savings affects liquidity, operational readiness, and long-term planning. The Old National Business Savings Account is designed to deliver:
- Financial runway: Maintain a safety net for payroll and unexpected costs without sacrificing liquidity.
- Predictable cash management: Integrate savings with daily banking to automate transfers and maintain target balances.
- Cost-conscious structure: Transparent fee schedules and tiered balances help you minimize monthly costs while maximizing returns.
- Strategic advice: Access guidance from commercial bankers who understand local markets and can recommend tailored solutions for growth and stability.
- Operational efficiency: Consolidate statements and reporting across accounts to simplify bookkeeping and reconciliation.
Typical Uses
Business Savings accounts are versatile. Common uses include:
- Payroll reserve funds and tax withholdings
- Capital expenditure planning and equipment purchase funds
- Seasonal cash-flow smoothing for retail or hospitality businesses
- Board-designated reserves for nonprofits and associations
- Short-term investment of excess operating cash
Rates, Fees & Requirements
Old National Bank offers competitive rates that may vary by balance tier, account package, and market conditions. Fee structures are transparent and tailored to business size and transaction volume. For precise APY, current promotions, and detailed fee schedules, please contact your local Old National branch or visit the official website. Our bankers will help you choose the account configuration that minimizes fees and maximizes yield for your organization.
How to Open an Account
- Gather required documentation: business formation documents, EIN or tax ID, personal identification for authorized signers, and any additional compliance paperwork.
- Visit an Old National branch, start an application online, or schedule a meeting with a commercial banker.
- Select optional services: online banking, ACH origination, sweep arrangements, or treasury management tools.
- Fund the account to activate it and set up transfers between your checking and savings accounts.
Our team can walk you through documentation requirements and help structure accounts for multi-entity operations or specialized cash management needs.
Security & Support
Security is central to every Old National product. Business Savings accounts are protected by modern encryption, multi-factor authentication for online access, and proactive fraud monitoring. In addition, you’ll have access to a responsive support team and local bankers who understand your market.
Frequently Asked Questions
Can I access my funds anytime?
Yes — savings accounts are designed for liquidity. However, some transaction limits may apply under federal regulations or account-specific terms; for larger transfers, your banker can recommend optimized solutions such as sweeps or short-term cash investments.
Are savings and checking accounts linked?
Yes — linking accounts simplifies transfers and can help you avoid overdrafts. Many clients automate a recurring transfer to build reserves regularly.
Who should choose this account?
Small businesses, growing companies, nonprofit organizations, and any entity that needs a secure, interest-bearing repository for operating reserves will find this account useful. For complex treasury needs, ask about commercial cash management services.
Address Bank: Chicago, Illinois Evansville, Indiana, U.S.
Bank: Old National Bank
Headquarters: Evansville, Indiana
Products: Deposit Accounts
Type: Business Savings Account
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