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Checking & Savings

Peoples State Bank offers a variety of accounts, perfect for your unique business.


Business Checking Accounts

Here at Peoples State Bank of Velva we offer simple business checking solutions. Combine your business checking account with online banking and a business savings account for more value and convenience.


Account Minimum Opening Deposit Balance to Avoid Maintenance Charge Maintenance Charge if Minimum Not Maintained Check Images Returned? Interest
Regular Checking $50 $100 daily $1.00/statement cycle, plus $0.15 per check Yes No
Optima Checking $50 None No service charge No. ($5 monthly fee to receive check images) No
Premium Checking* $500 $500 daily $5.00/statement cycle, plus $0.15 per check after 40 external debits Yes Yes
Premium Plus Checking* $1,500 $1,500 daily $5.00/statement cycle Yes Yes
*Premium & Premium Plus accounts are variable rates. Rates and APYs may change after the account is open. Fees could reduce earnings in the account.



Personal/Business Checking Accounts Minimum Balance Maintenance Charge 


Regular Checking $100 $1.00 plus $0.15 per check None
Optima Checking $50 None None
Premium Checking* $500 $5.00 plus $.015 after 40 external debits


Premium Plus Checking*
If balance falls below $1500.00 Interest will accrue at PREMIUM Rate
$1,500 $5.00 0.15%
*Premium & Premium Plus Accounts are Variable Rates.  Rates & APYs may change after the account is open. 
Fees could reduce earning on the account.



Business Savings Accounts

With our savings account, you can start building your assets and plan for the future. Interest is compounded and credited quarterly with a quarterly statement (or monthly if any electronic activity is conducted on the account).

Our Money Market account offers you a tiered interest rate which increases as your balance increases. This account rewards you for your large investments while providing you liquidity, flexibility and security all in one convenient account. Interest is compounded and credited monthly.

Account Minimum Opening Deposit Balance to Avoid Maintenance Charge Maintenance Charge if Minimum Not Maintained Check Images Returned? Interest Earned Restrictions & Limitations
Passbook Savings $25 None No service charge n/a Yes Savings withdrawal limits apply
Money Market Account $1500 $1500 daily $5.00/statement cycle Yes Yes Money Market withdrawal limits apply; $500 minimum withdrawal
*You may write six checks monthly for the amount of $500 or above. Rates & APYs may change after the account is opened. Minimum daily balance of $0.01 to obtain disclosed Annual Percentage Yield (APY). Feeds could reduce earnings on account.

MoneyPass Free ATMs:

Take advantage of more than 24,000 MoneyPass ATMs from coast-to-coast and avoid the ATM fee when using your Peoples State Bank debit or ATM card. Just look for the MoneyPass logo (pictured below), or visit to find qualifying ATMs near you!

Automatic Scheduled Transfers:

A great way to start saving money is to establish an automatic scheduled transfer. An automatic scheduled transfer provides a convenient way to transfer funds between accounts on a scheduled basis. You set the amount of funds to be transferred along with the frequency of the transfer. You may transfer funds from checking to savings, or from savings to checking.

Online Banking & Bill Pay:

Online Banking gives you immediate access to your account information 24 hours a day, 7 days a week, from the convenience of your home or office. It's simple. It's secure. And best of all, it's FREE.

All Peoples State Bank online transactions and account data are supported by encryption technology. Also, to prevent unauthorized entry into the system, your account information is protected with an Online Banking ID and a PIN you can change at any time. The first time you access the system, you will be required to change your PIN from the bank-provided number to an 8-25 character alpha-numeric code of your choice. Then, every 90 days the system will prompt you to change your PIN to ensure continued privacy and security. As an added security feature, Online Banking will automatically sign off after 10 minutes of inactivity.

Use Online Banking Pay to:

  • Check account balances
  • Transfer funds between Peoples State Bank accounts
  • Make loan payments to Peoples State Bank
  • Verify deposits and withdrawals
  • View current transactions
  • View paid checks
  • View the prior month's bank statement
  • Set up balance, personal and item alerts
  • Perform a download of transaction history into bookkeeping software or to a spreadsheet

Use Online Bill Pay to:

  • Pay your bills online
  • Set up recurring payments
  • Never stick a stamp or lick an envelope again
  • Save time and money

Automatic Payments:

Your regular bills, such as telephone, utility, and other payments, can be paid directly from your checking account. Automatic payments need to be set up by the billing organization.

Debit Cards/ATM Cards:

Debit cards make shopping more convenient and you can use your card instead of a check wherever Visa is accepted. With your debit card you will have no annual fee and you may also access your account at ATMs. ATM cards are also offered if you only have a savings account or you do not wish to use a card for point of sale activity.

To activate your card or change your PIN, please call 1-800-757-9848.

Direct Deposit:

Have your payroll, Social Security, and other income deposited directly to your checking or savings account.

Night Depository:

Need to make a deposit and it's after business hours and you are unable to make it back the next day? That's okay! Drop it in the night depository and we will take care of it right away on our next business day. In Velva, the night drop is located by the front doors of the bank. In Minot, the night drop is located in the first drive-up lane.

Safe Deposit Boxes:

Safe deposit boxes are an excellent way to ensure your important documents are kept safe. These boxes are rented at annual rate and we have a variety of sizes to choose from.

Mobile App:

Download our free mobile app in the iTunes app store or Google Play store to have your banking resources at your fingertips.

Remote Deposit:

Make business and personal deposits easier than ever with our new remote deposit features. Contact us for more information on how to take advantage of these features.

ACH Payroll:

Let us assist you with making your business payroll even easier by using our ACH Payroll feature. Contact us for more information.

Wire Transfers:

Do you have wiring needs or need wiring instructions to get money into your account fast? Please contact us for more information on how we can easily assist you.