Physicians Checking Accounts

PAYROLL PLUS and eCENTIVE®

Physician Checking Accounts

Up to 4.04% APY1

So your paycheck can work for you.

As a medical professional, your financial needs are unique and require specialized solutions. That’s why we’ve designed the Payroll Plus and the eCentive® checking account to provide you with unmatched benefits, convenience, and support so you can focus on delivering exceptional patient care. Say hello to a new level of banking catered to your success as a physician – it’s time to revolutionize the way you manage your finances with Physician Bank checking accounts .

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AVERAGE RESPONSE TIME <10 MINUTES

Payroll Plus Checking Account

Our new Payroll Plus checking account is the perfect way to give your paycheck a boost. When you meet three easy qualifications each month, you can earn 4.04% APY*. Get the best of both worlds – the convenience of Direct Deposit and an excellent rate of return.

3 EASY QUALIFICATIONS2

1.

Have at least $5,000 in direct deposit each month from payroll, social security, investment income, or other forms of monthly income.

2.

Monthly debit card purchases posted to your account equaling a minimum of $5003.

3.

Enroll and receive monthly eStatements.4

1 APY = Annual Percentage Yield. Fees may reduce earnings. Interest rate is variable and may change after the account is opened.

2 When the Payroll Plus Account qualifications are met, balances up to $100,000 will earn that qualification rate for the entire statement cycle. Balances of $100,000.01 and above will receive that qualification rate for the entire statement cycle. If applicable, sales tax will be applied to service charges for accounts opened in Iowa. If qualifications are not met, base rate is set at 0.05% APY.

3 Please note that ATM transactions do not count toward the debit card purchase requirement.

4 Must have a valid email address to enroll. $4 per month fee applies if not enrolled in eStatements and paper statements are sent through U.S. Mail.

Minimum opening deposit of $100 required.

Payroll Plus Rates effective as of March 1, 2024.

0.14% APY1
For qualified balances greater than $100,000
4.04% APY1
For qualified balances of $0.01 – $100,000
0.05% APY1
Non-qualifying balances

Click on a Minimum Balance above to View Rate

eCentive Checking Account

Introducing the Physician eCentive® checking account – the perfect solution to make your money work harder. This interest-earning account offers the flexibility of a versatile checking account with a range of exclusive benefits.

3 EASY QUALIFICATIONS2

1.

Have at least one direct deposit or automatic payment (ACH) each month.

2.

Monthly debit card purchases posted to your account equaling a minimum of $5003.

3.

Enroll and receive monthly eStatements.4

1 APY = Annual Percentage Yield. Fees may reduce earnings. Interest rate is variable and may change after the account is opened.

2 When the Physician eCentive® checking account qualifications are met, balances up to $100,000 will earn that qualification rate for the entire statement cycle. Balances of $100,000.01 and above will receive that qualification rate for the entire statement cycle. If applicable, sales tax will be applied to service charges for accounts opened in Iowa. If qualifications are not met, base rate is set at 0.05% APY.

3 Please note that ATM transactions do not count toward the debit card purchase requirement.

4 Must have a valid email address to enroll. $4 per month fee applies if not enrolled in eStatements and paper statements are sent through U.S. Mail.

Minimum opening deposit of $100 required.

eCentive rates effective as of March 1, 2024.

0.14% APY1
For qualified balances greater than $100,000
2.02% APY1
For qualified balances of $0.01 – $100,000
0.05% APY1
Non-qualifying balances

Click on a Minimum Balance above to View Rate

PHYSICIAN CHECKING ACCOUNT FEATURES

high interest

High Interest

Earn our highest yielding checking interest rate on balances up to $100,0001

automatic refunds

Automatic Refunds2

Up to $25 per month when qualifications are met.

no minimum balance

Free Digital and Mobile Banking3, ePay online bill pay and more

100 to open account

$100 Minimum To Open Account4

No minimum balance. Transfer money electronically to or from your account anytime, online.

estatement

Monthly eStatements Required5

debit card

Debit Card Included6

High Interest Checking Accounts for Medical Professionals

High Interest

Earn a high yielding checking interest rate on balances up to $100,0001

Automatic ATM Refunds

Automatic Refunds2

Up to $25 per month when qualifications are met.

Free Digital & Mobile Banking

Free Digital and Mobile Banking3, ePay online bill pay and more

$100 to Open a Checking Account

$100 Minimum To Open Account4

No minimum balance. Transfer money electronically to or from your account anytime, online.

Monthly eStatement is Required

Monthly eStatements Required5

Debit Card is Included with our Checking Accounts

Debit Card Included6

  1. When the Physician eCentive® checking account qualifications are met, balances up to $100,000 will earn that qualification rate for the entire statement cycle. Balances of $100,000.01 and above will receive that qualification rate for the entire month. If applicable, sales tax will be applied to service charges for accounts opened in Iowa. $30 fee if the account is closed within 6 months of opening. Interest rate is variable and may change after the account is opened.
  2. Refunds for domestic ATM fees charged by other ATM owners and MasterCard cross border/currency conversion fees for debit card foreign transactions.
  3. Digital and Mobile banking are subject to additional terms and conditions and may include charges for data and your internet provider.
  4. Primary bank account holders (based on social security numbers) are limited to two (2) Physician eCentive® checking accounts at Physician Bank.
  5. Must enroll to receive eStatements and have at least one direct deposit or automatic payment (ACH) each month. Must have valid email address to enroll ($4 per month if you fail to enroll and paper statements are sent to you through U.S. Mail). Overdrafts & NSF: $33 per item.
  6. Must use your debit card for monthly purchases of $500 or more. Please note that ATM transactions do not count toward the debit card purchase requirement.

Important Information

Procedures for Opening an Account Mandated by the USA PATRIOT ACT

To help the government fight the funding of terrorism and money laundering activities, the USA PATRIOT ACT, a Federal law, requires all financial institutions to obtain, and record information that identifies each person who opens an account.

What this means for you:

When you open an account, we will ask you for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.

Save Up: Checking Account Savings Feature

With Save Up, you can easily save money. Your ACH and debit card purchases are rounded up to the nearest dollar and deposited into your savings account automatically. By using Save Up, you will be able to build on the savings you currently have. Checking account customers can use Save Up with their existing accounts, but registration is required. We’d love to have you join our Save Up program. Just complete a quick form in our digital app or give us a call at 1-888-632-2651.

PRIVATE BANKER FOR PHYSICIANS

Brandie Wenham

NMLS #634982

brandie@physicianbank.com

M: (605) 640-5888
O: (712) 986-7077
Linkedin Profile for Brandie
Brandie Wenham For Physician Bank Checking Accounts
New! 4.04% APY* on checking.
*APY = Annual Percentage Yield

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Payroll Plus Checking Account

*APY = Annual Percentage Yield. Fees may reduce earnings. Interest rate is variable and may change after the account is opened. Rate applies to balances between $0.01 and $100,000

To earn 4.04%, you must:

  1. Have at least $5,000 in direct deposit each month from payroll, social security, investment income, or other forms of monthly income.
  2. Have monthly debit card purchases posted to your account equaling a minimum of $500. Please note that ATM transactions do not count toward the debit card purchase requirement.
  3. Enroll and receive monthly eStatements. With eStatements, you must have a valid email address to enroll. $4 per month fee applies if not enrolled in eStatements and paper statements are sent through U.S. Mail.

Payroll Plus Rates effective as of March 1, 2024. Minimum opening deposit of $100.