Micro Business Checking
Micro Business Checking is a non-interest bearing account
that is well-suited for small businesses with limited
transaction needs. The low minimum balance requirement makes it
an excellent choice for a start-up business or for those who
prefer to keep lower cash levels in a checking account.
Small Business Checking
Small Business Checking is ideal for businesses in need of a
simple checking account. It is designed specifically for companies
that have a moderate amount of checking activity during the month.
Complete Business
Complete Business offers a package account to small business
owners. It includes an interest bearing checking account along
with several other financial services beneficial to small
businesses.
Account Analysis
Account Analysis is a method used to compensate commercial
accounts for collected balances through a monthly earnings credit.
Account Analysis can be a significant advantage for your business,
creating savings in two ways. First, you are only charged for bank
services you actually use. Second, you control your analysis
charges by maintaining appropriate balances in your account.
Sweep Account
Sweep Accounts help maximize the earning potential of your
business’s cash reserve by automatically investing idle funds into
an interest bearing vehicle each night. BankEast also
offers a feature that ties your business checking account to your
line of credit, thereby minimizing funding shortfalls and
maximizing investment opportunities.
Civic Checking
Civic Checking is a cost effective checking account that is
suitable for civic groups with limited monthly activity. Civic
Checking is available to civic clubs, church groups and other
types of non-profit organizations.
IOLTA
Interest on Lawyer Trust Accounts (IOLTA) are special purpose
accounts. An IOLTA is an interest-earning account designed for
lawyers or law firms for the purpose of depositing client funds.
BankEast Business
Checking Guide
| Product Name |
Micro Business Checking |
Small Business Checking |
Complete
Business |
Account
Analysis |
Civic Checking |
|
|
|
|
|
|
| Minimum Opening Balance |
$100 |
$100 |
$100
|
$100 |
$100 |
| Maintenance Fee |
None |
None |
None |
None |
None |
| Minimum Balance Fee |
$7 |
$10 |
$15
|
None |
None |
Minimum Daily Balance to
Avoid Fee |
$500 |
$1,500 |
$10,000 in combined business
deposits |
Depends on activity |
None |
Check Writing and
Withdrawal Limits |
100 total items per month at no charge. $.25
per item over 100. |
200 total items
per month at no charge.
$.25 per item over 200. |
300 total items per month at no
charge. $.25 per item over 300. |
Unlimited |
200 total items per month at no charge. $.25
per item over 200. |
| Interest Paid |
No |
No |
Yes
|
Earnings Credit Only |
Yes |
| Account Available To |
Business entities |
Business
entities |
Business entities such as Sole
Proprietors or Non-Profit Corporations.
Not available to Partnerships, LLCs or For-Profit Corporations
|
Business entities |
Non-profits
with 501c3 status, EIN, and CIP info of signers. |
| Other Features |
|
|
Free standard Safe Deposit box or
25% discount on larger box.
Free Business Check Card and credit card.
Free Personal Checking account for owner.
|
Activity charges may be
offset by maintaining sufficient balances.
|
|
Equal Housing Lender