Head-to-Head
Chartway Premium Business Checking
Credit-union business checking with tiered dividends up to 4.00% APY and a $10 fee waived at $2,500 ADB
VS
Old National Bank Business Checking
Branch + cash deposits; low/no monthly fee with 500-item cap; Midwest/Southeast relationship bank (not high-APY checking)
Monthly Fee
$10.00/month
Access: $0 on current product page ($3/mo paper statements; eStatements free). Pro: $25/mo OR $0 with $20,000 avg ledger OR $50,000 combined checking+savings+MMA avg ledger.
Checking APY
Tiered variable share dividends — progressive bands by balance (site Sep 2026)
0.00% — noninterest-bearing on Access and Pro
Rating
7.7/10
7.6/10
Costs & Fees
| Metric | Chartway Premium Business Checking | Old National Bank Business Checking |
|---|---|---|
| Monthly maintenance | $10.00/month | Access: $0 on current product page ($3/mo paper statements; eStatements free). Pro: $25/mo OR $0 with $20,000 avg ledger OR $50,000 combined checking+savings+MMA avg ledger. |
| Fee waiver | Waived if average daily balance of $2,500 maintained during the month. Product page also markets 'No Minimum Balance' for ongoing operation. | Access: unconditional $0 maintenance (use eStatements to avoid $3 paper fee). Pro: $20k ledger or $50k combined deposit averages. |
| Transaction fees | Hybrid limited analysis — not classic earnings-credit. No published excess fees for ACH batches, teller visits, checks written, or electronic items. | 500 items/month free then $0.50 each. Items = checks paid, withdrawals, deposits, deposited items, ACH/POS debits and credits. |
| Overdraft/NSF | Overdraft Privilege $30/transaction (can cover up to $750 per fee schedule; ODP brochure cited $500 — conflict). NSF/returned item $30. Returned deposited item $20. Opt-in required. OD transfer from linked savings/MM $0. | Paid NSF/Overdraft Item $36 if overdrawn >$25; max 2 paid items/day. Daily Overdraft $7 from day 7 if overdrawn >$25 for 7+ consecutive business days, up to 5 days. Overdraft Courtesy discretionary. |
| ATM fees | Chartway-owned / CO-OP Network $0 Chartway fee. Out of Chartway-owned and out of CO-OP: $1 inquiry + $1 transaction (owner surcharge extra; no rebate disclosed). | ONB + Allpoint (~55,000+) $0 ONB fee. Non-ONB/non-Allpoint: $3 Foreign ATM Fee + operator surcharge. No rebate disclosed. |
| Wire/ACH | Outgoing domestic wire $25. Incoming domestic, incoming/outgoing international, ACH origination per-item/monthly fees not disclosed on business fee PDF. | Incoming domestic $16; outgoing domestic $30; incoming intl $16; outgoing intl $50. Pro/Payments Plus: 1 free domestic outgoing wire/month; discounted fees thereafter not disclosed. |
Interest & Yields
| Metric | Chartway Premium Business Checking | Old National Bank Business Checking |
|---|---|---|
| Checking APY | Tiered variable share dividends — progressive bands by balance (site Sep 2026) | 0.00% — noninterest-bearing on Access and Pro |
| Savings APY | Business Money Market Plus separate — relationship APYs 1.25% ($10k) to 4.00% ($1M+) plus 1.00% relationship bonus with business checking and ≥$10k ADB in MM | Business Savings and Business Market Monitor: tiered interest; APY not disclosed on public pages |
| FDIC coverage | Standard FDIC $250,000 per depositor per ownership category at Old National Bank |
Features & Access
| Metric | Chartway Premium Business Checking | Old National Bank Business Checking |
|---|---|---|
| Branch/ATM network | ~33–42 branches in VA/NC, Utah, Houston TX (2025 snapshot). CO-OP Network ~37k–50k surcharge-free ATMs plus Chartway-owned. Direct Teller ITMs expanding (~50 path cited). | ~346–361 banking centers in IL, IN, IA, KY, MI, MN, NC, ND, TN, WI. ONB ATMs + Allpoint ~55,000+ surcharge-free. Cash deposit at deposit-taking ONB ATMs. |
| Mobile app | Chartway Mobile Banking iOS 4.5/5 (5.7K ratings); Android 4.2/5 (~2.7–2.8K reviews). General app, not separate business treasury app. | Old National Mobile app — Google Play ~4.5 (13.8K reviews). iOS U.S. volume uncertain from public scrapes. |
| Virtual cards | Not disclosed | Not disclosed |
| Opening deposit | $100 membership share | $100 |
| Eligibility | Sole prop, GP/LP, LLC (SMLLC may use SSN), corporation (incl. incorporated nonprofit), unincorporated association/club. Beneficial ownership required. | Sole prop, association, org, partnership, LLC, corporation, business fiduciary/escrow per agreement. EIN emphasized in checklist. |
Pros & Cons
Chartway Premium Business Checking
Pros
- Official tiered checking APY up to 4.00% with no spend or direct-deposit gate (site Sep 2026)
- $10 monthly fee waived at relatively low $2,500 ADB
- NCUSIF insurance at federally chartered CU — not fintech/partner-bank stack
- Cash management (ACH origination + online wires) explicitly tied to Premium tier
- Loan origination and rate discounts for Premium holders; CO-OP ATM + shared-branch access
Cons
- 4% APY only at $500k+ — most SMBs earn 0.50–2.50% on lower bands
- Business fee PDF omits incoming, international, ACH origination, FX, and card replace prices
- Analysis fees on cash above $10k in+out and deposited checks above 250/month
- $250k NCUSIF only — no extended-insurance sweep for large balances
- Shared debit card number across authorized users; regional membership and branch footprint
Old National Bank Business Checking
Pros
- Access $0 maintenance with 500-item bucket and no minimum balance (ONB product page)
- $25,000 monthly cash/currency free then $0.15 per $100 — explicit branch-bank pricing
- Allpoint 55k+ surcharge-free ATMs plus ~346+ owned branches in 10 states
- Pro bundles Autobooks Basic, 1 free domestic wire/month, ACH allowance, and fraud tools
- Path to ONPointe Treasury, Analysis Checking, Elavon merchant, and local lending; $400/$800 bonus through Oct 30, 2026
Cons
- 0.00% APY on checking
- In-person opening only — not nationwide online account
- 500-item definition is broad (ACH, POS, deposits count) at $0.50 over — easy to exceed
- Full current business fee schedule PDF not publicly posted
- Out-of-network ATM $3 + 3% foreign debit fee; standard FDIC $250k only
Verdict
Chartway Premium Business Checking
Chartway FCU Premium Business Checking is NCUSIF-insured share checking with $10/mo (waived at $2,500 ADB), $100 membership share, tiered APY to 4.00% at $500k+, and limited analysis on excess checks/cash. Outgoing domestic wires $25; many wire/ACH prices undisclosed. Treasury Management requires this tier. No ICS sweep above $250k NCUSIF. Strong for regional CU relationship and high-balance yield; weak for national digital-first SMBs and thin multi-user controls.
Old National Bank Business Checking
Old National Access Business Banking is branch-opened FDIC checking: Access $0 maintenance, 500 items then $0.50, $25k cash free then $0.15/$100. Pro adds $25 fee (waivable at $20k/$50k), bundled Autobooks/Payments Plus, 1 free wire/month, 25 ACH/month. 0% APY. Wires $16 in / $30 out / $50 intl. Full business fee PDF not posted. Fits in-footprint cash SMBs; poor for remote founders and high-volume treasury.