Checking accounts

Compare the features and benefits of MB checking accounts to see which one is right for you.*footnote

Checking accounts
  MB Signature Checking

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MB Red Checking

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MB Classic Checking

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MB High Five Checking

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Best account if you need

An interest-bearing account with exclusive benefits and unlimited transactions.

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An interest-bearing account that gives you our highest interest rate on balances up to $10,000.footnote

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A checking account that offers many ways to avoid a monthly service charge.

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A great starter account for students from ages 13-24.

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Interest-earning

Yes

Yes

   
Minimum opening deposit

$50

$50

$50 $50
ATM usage No fees when you use MB ATMs

No fees when you use non-MB ATMs
No fees when you use MB ATMs

No fees when you use up to 4 non-MB ATMs per statement cycle
No fees when you use MB ATMs

No fees when you use up to 2 non-MB ATMs per statement cycle
No fees when you use MB ATMs

No fees when you use up to 5 non-MB ATMs per statement cycle
ATM Freedomfootnote

Eligible

Eligible

Eligible

Eligible

MB Debit MasterCard®footnote

Eligible

Eligible

Eligible

Eligible

Free checks Yes. Up to two boxes of MB basic checks per year.      
Unlimited check writing

Yes

Yes

Up to 20 free per monthly statement cyclefootnote

Up to 5 free per monthly statement cyclefootnote

Internet banking

Yes

Yes

Yes Yes
Unlimited bill pay

Yes

Yes

Up to 20 free per monthly statement cyclefootnote

Up to 5 free per monthly statement cyclefootnote

Ways you can avoid a monthly service charge and paper statement fee each statement cycle

1. Maintain a $5,000 average daily balance in this account or

2. $15,000 in related deposit balancesfootnote or

3. $25,000 in related deposit and home equity loan/line balances.footnote

Otherwise, there is a monthly service charge of $19.95.

 

Enroll in E-Documents to receive e-statements and electronic notices.footnote

Otherwise, there is a $3.00 monthly paper statement fee.

    Maintain an average daily balance of $2,000 in this account.

    Otherwise, there is a monthly service charge of $11.95.

     

    Enroll in E-Documents to receive e-statements and electronic notices.footnote

    Otherwise there is a $3.00 monthly paper statement fee.

    1. Monthly qualifying deposits totaling $500 or more. (Qualifying deposits include teller deposits, ACH credit (direct deposit), ATM deposits and incoming wire deposits.) or

    2. Average balance of $3,000 in related deposit accounts.footnote or

    3. 10 total payment transactions.footnote

    Otherwise, there is a monthly service charge of $9.95.

     

    Enroll in E-Documents to receive e-statements and electronic notices.footnote

    Otherwise there is a $3.00 monthly paper statement fee.

    1. Monthly deposits totaling $100 or more or

    2. $250 average balance or

    3. Parent/guardian has an MB checking account.

    Otherwise, there is a monthly service charge of $5.95.

     

    E-document enrollment, including e-statements and electronic notices, is required.footnote

    Otherwise, there is a $3.00 monthly paper statement fee.

    Additional features

    No fees for cashiers' checks, money orders, traveler's checks or incoming wire transfers.

     

    Discount on safe deposit box rental

     

    Free MB basic checks.10 footnote

     

     

    Special note: Young people ages 13 through 17 require a parent or guardian as joint owner. This account automatically converts to MB Classic Checking once the primary owner reaches age 25. 
     

    MB Signature Checking

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    MB Red Checking

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    MB Classic Checking

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    MB High Five Checking

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    How to Apply

    * Personal accounts only; no broker accounts. Account holder must reside within MB’s IL, IN or PA service areas. Checking account statement cycle periods are all monthly. Other fees and restrictions may apply. Please refer to the Personal Banking Customer Fee Schedule (PDF). We reserve the sole discretionary right to refuse to open an account or close an account for any reason. For current interest rates and terms see a banker or call 1.888.i bank mb (1.888.422.6562). Back to top

    1 For current Annual Percentage Yields (APY) on Red Checking see current Deposit Account Rates. This is a variable rate, tiered product and the rate is subject to change at any time. To obtain the maximum rate, the following account requirements must be met every monthly statement cycle: 1) At least 15 signature-based debit card transactions must post totaling at least $200; 2) enrollment in E-Documents to receive e-statements and electronic notices; 3) monthly ACH deposit or payments totaling at least $250. If all account requirements are not met the entire account balance will pay a base rate of 0.05% APY. Must maintain a minimum average balance for the monthly statement cycle period of $2,000 or more, or an $11.95 monthly service fee will be charged. Interest will be paid on two tiers: 1) 1.00% APY on $0.01 to $10,000, and 2) 0.05% APY on $10,000.01 and over, resulting in a blended APY between 1.00% and 0.05% APY. Interest is compounded and paid monthly based on the account balance which results in a blended rate. Other fees and restrictions may apply; fees may reduce earnings. We reserve the sole discretionary right to refuse to open an account or close an existing account for any reason. Minimum to earn interest is $1. Back to top

    2 Average calendar month balance must be at least $5,000 to qualify. Reimbursement of ATM surcharge fees for using non-MB ATMs will be capped at $20 maximum per calendar month. Reimbursement will post in the following account statement cycle. Back to top

    3 MB Debit MasterCard® available only to qualified account holders. Back to top

    4 Excess activity fees apply after account limit: $1 per check and $0.50 per online bill payment. Back to top

    5 Your other related deposit accounts for MB Signature Checking can include personal checking, money market, savings, CD or IRA CD accounts that you own. Back to top

    6 Outstanding principal balance of your personal home equity loan or line of credit as of the statement date for this account can also be combined. Back to top

    7 Your other related deposit accounts for MB Classic Checking can include personal checking, money market or savings accounts that you own. Back to top

    8 Using either bill pay via ibankmb.com, ACH debits, PIN and signature-based debits or checks presented for payment. Transactions must post during the monthly statement cycle. Back to top

    9 Enrollment in E-Documents will result in electronic delivery of statements and designated notices. Tax documents will continue to be delivered in paper form. Back to top

    10 Free MB basic checks order includes two boxes of checks per year; it does not include the cost of shipping and handling. Back to top