Business Deposit Accounts
Checking
We offer Business Checking Accounts to all incorporated and professional customers. If you're a local business person who likes the idea of a "hometown" kind of approach to banking, we encourage you to come in to meet our Commercial Banking Officers. You'll get friendly, professional advice you can bank on!
Please reference our Fee Schedule for current business checking account service charges.
Savings
Statement Savings
Select this business savings account type and gain an easy way to manage and access your Savings Account information. Below is a partial list of account benefits.
- Minimum $10 Balance
- Interest bearing account
- Electronic Funds Transfer
- Receive monthly statements
- Available for Direct Deposit
- Access Statement Savings by automated toll-free 24hr TellerPhone Service
- Deposits fully insured by FDIC and DIF
Statement Savings Accounts are basic interest bearing accounts and are excellent financial management tools. Deposits and withdrawals can be made at any time. A minimum deposit of $10.00 is required to open the account, and a minimum monthly balance of $10.00 must be maintained to earn interest. Statement Savings are limited to six transfers per month and only three of these six transfers may be made by check, draft, or similar devices during the statement cycle. Transfers are counted when posted to the account.
Passbook Savings
The traditional Savings Account.
- Minimum $10 Balance
- Interest bearing account
- Available for Direct Deposit
- Deposits fully insured by FDIC and DIF
Passbook Savings Accounts are basic interest bearing accounts and are excellent financial management tools. Deposits and withdrawals can be made at any time. A minimum deposit of $10.00 is required to open the account, and a minimum monthly balance of $10.00 must be maintained to earn interest.
Money Market Accounts
There are several important features that make our Money Market Account an attractive investment. We offer competitive rates, full insurance protection, withdrawals, and checkwriting privileges. This account affords you the opportunity to write three third party checks and three preauthorized transfers per statement cycle. There is no limit to the number of withdrawals from this account (payments made directly to the depositor) when made by mail, telephone (via check mailed to the depositor), or in person. Preauthorized transfers from the account which include telephone transfers to third parties or to another Newburyport Bank account of the depositor, and checks, drafts or similar devices drawn by the depositor to third parties are limited to six per statement cycle. Only three of these may be checks and no more than six of these transfers may be by telephone.
A service charge of $10.00 per month will be assessed to accounts with balances below $2500.00. Each account will be charged an excess activity fee of $5.00 for each third party check written after the three allowable checks during the statement cycle. An excess activity fee of $5.00 per transaction will be charged for more than the six permissible transfers. All interest compounds monthly, and interest rates can change weekly to be competitive with the current market rates.
Sextant Premier Money Market Account
One account does it all. Manage your money with preferred rates and special offers. Earn a higher interest rate and still have access to your funds.
- The more you save, the greater the return
- High Money Market rates with check writing privileges
- Features tiered interests rates with your account balance
- Deposits fully insured by FDIC and DIF
Please reference our Fee Schedule.
