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Open An Online Checking Account Photo Open An Online Checking Account

An online checking account can be a valuable tool to provide a foundation for your financial stability. Choosing to work with a local bank that is invested in not only your success, but the community’s success as well, can make all the difference when selecting where to open a checking account. With Central Bank, you get the benefits you want with a checking account that works for you. If you’re interested in opening a free online checking account with Central Bank when you enroll in Online Statements, you can apply online by clicking the button below, or read on for more information on checking accounts and their benefits.

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What Is A Checking Account?

A checking account is a type of bank account that allows for easy deposits and withdrawals for daily transactions. You can access money by writing a check, using a debit card to make a purchase or withdraw cash, or through online transfers.

A standard checking account is a foundational element of a financial portfolio because it is an easy access account type. Central Bank offers a standard Simple Checking account with a $100 minimum deposit to open the account. There are no fees when you enroll in Online Statements, and no minimum balances required to maintain the non-interest earning account. If an interest earning account is what you’re looking for, we offer two other checking options: Shamrock and Platinum.

A Simple Checking account with Central Bank has many benefits, including:

  • Free online banking and bill pay
  • No minimum balance required
  • Free debit card with no ATM fees
  • Direct deposit
  • Free online statements
  • Free mobile banking with mobile deposit

Checking Vs. Savings Account: What’s The Difference?

The difference between checking and savings accounts is that checking accounts are used for daily expenses, while savings accounts are used for saving money. Checking accounts are good for day-to-day purchases, and savings accounts are useful in growing your money because of the interest they earn.

Both checking and savings accounts are valuable elements to include in your financial portfolio, as each have their individual benefits. However, checking accounts are more widely used because they serve as the hub for daily transactions and deposits. Savings accounts are beneficial to set money aside for emergency situations or large purchases in a separate account that accrues interest over time.

How Many Checking Accounts Can I Have?

While there is no limit to the amount of checking accounts you can open, there is a limit to the dollar amount that is insured by the Federal Deposit Insurance Corporation (FDIC). This means that if you have multiple checking, savings, money market or CD accounts at the same bank, the FDIC will insure up to $250,000 per depositor. However, this limit only applies to accounts within the same member FDIC bank, meaning you can open multiple checking accounts at multiple banks. Figuring out the right number of accounts depends on your financial needs and goals.

Some common reasons to have multiple checking accounts include:

  • To keep business and personal expenses separate
  • To separate your emergency fund from the rest of your budget
  • To qualify for new checking account bonuses
  • To qualify for special perks, such as loan discounts or higher interest rates on deposits
  • To aid in transferring funds between an online and brick-and-mortar bank

Interested In Opening An Online Checking Account With Your Local Central Bank?

Opening a checking account with Central Bank provides the foundation for a long-term partnership with a business that’s invested in you and your community's success. Visit our locations page to find and speak with a local banker or apply online today to open your free checking account when you enroll in Online Statements.

Simple Checking offers numerous benefits for account holders, including:

  • $100 minimum deposit to open account
  • No minimum balance required
  • Free Debit Card* with No ATM Fees**
  • Free Online Banking
  • Free Online Bill Pay
  • Bankline 24/7
  • Free Mobile Banking***
  • Free Mobile Deposit*
  • Direct Deposit
  • Free online statements or $3/statement mailed
  • Overdraft Reserve on qualifying accounts*
  • First order basic wallet checks free

*Debit Card, Mobile Deposit, Overdraft Reserve and Credit Cards are subject to approval.

**If you receive an ATM surcharge, bring in or mail your original ATM receipt within 60 days and we will refund the surcharge. Excludes foreign surcharge fees. 

***Although Central Bank does not charge for Mobile Banking, standard text messaging and data plan fees from your mobile phone carrier may apply. Please consult your carrier before using Mobile Banking.

Service charge subject to Iowa & Local Option sales tax, excluding our South Dakota locations.

This account is a non-interest earning account.

How do I enroll for Online Banking?

Click here to enroll in Online Banking, or contact a Central Bank personal banker.

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Amy Button

Branch Manager I

Location: Brookings Main Office

Work Phone: (605) 696-3416

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Angela Reinert

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Location: Storm Lake Main Office

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Ashly Esquivel

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Brittny Brunning

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Damon Punt

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Debbie Nelson

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Dustin Pohlman

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Jessica Inrachavonga

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Julie Dhabalt

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Kaylea Struve

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Nancy George

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Rhonda Rowe

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Russell Asman

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Stacy Meyer

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Wyatt Warkenthien

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Location: Sioux Falls Minnesota Branch

Work Phone: (605) 977-5525

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