Pentucket Bank is focused on meeting the unique needs of your business and offers a convenient suite of products for your business banking needs. Our checking, savings and money market accounts provide a solid foundation for the easy movement and management of your business funds.
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| Accounts | Small Business Advantage | Business Advantage plus | Commercial Advantage | Business Now Advantage | Non-Profit Advantage | Business Statement Savings | Business Emerald Money Market |
|---|---|---|---|---|---|---|---|
| Best Used For | Accounts clearing less than 100 items (check & ACH) per month. Unlimited free deposits | Accounts clearing up to 300 items (check & ACH) per month. Unlimited free deposits | Accounts with high volume activity | Tiered interest rate account for qualified businesses | Available to non-profit organizations | Segregation of funds and interest earnings | An interest bearing account with tiered rates to maximize your earnings while keeping your liquidity |
| Minimum to Open | $25 | $25 | $25 | $25 | $25 | $10 | $10 |
| Monthly Service Charge | None (.50 cents per excess debit item over 100) | None, if $5,000 average daily balance maintained, otherwise $20 fee. (.50 cents per excess debit item over 300) | $15 plus per item charges. Earnings credit may offset charges | $12 if $5,000 Minimum Daily Balance is not met | None | None | $10 if $1,500 Minimum Daily Balance is not met |
New Government Rules on Business Accounts
We want to make you aware of some changes to the business account opening process that are the result of federal rules changes. On July 11, 2016, new rules under the Bank Secrecy Act went into effect. These new rules aid the government in the fight against crimes to evade financial measures designed to combat terrorism and other national security threats. All banks must implement these changes and Pentucket Bank will be doing so effective April 1, 2018, in order to meet the May 11th, 2018 deadline.
To learn what these changes mean to you and your business