Business Checking Accounts

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Business Checking Accounts

Your business demands a lot from you. Why not demand more from your banking relationship? At Eastern Bank, we offer a full range of accounts designed to deliver the value, service, and convenience your business demands in these competitive times. Read below to learn more about our checking options.

Additionally, as an added benefit of banking with us, our business customers receive access to Monit, a complimentary, mobile friendly financial assistant for business owners.

Click here to review the Business Banking Fee Schedule
Click here to review the Business Deposit Account Agreement
Click here to review the Business Overdraft Services and Fees

Most Popular

Account Type

Free Business Checking

Select Business II Checking

Premier Business Checking

Ideal For

Start-ups, sole proprietorships, or not-for-profit businesses with fewer than 100 monthly banking transactions

Small-to-midsize businesses with moderate transaction volume or combined checking and money market balance of $20,000 or more

Businesses with up to 500 monthly transactions or a combined balance of $40,000 or more

Monthly service charge

None

$18

$50

Minimum balance to waive fee

N/A

$20,000 minimum daily balance

$40,000 combined average daily balance

Number of monthly transactions included in fee¹

100

200

500

Excess fee per transaction

$0.50

$0.30

$0.50

Balances included in minimum

N/A

Select Checking and Money Market

Business deposit balances²

Online banking with bill pay

Eastern Business Banking®

Cash Reserve Line of Credit available

X

Ability to link a savings account and make fund transfers

X

Monit, a mobile-friendly financial assistant for business owners like you

X

Other benefits

Free personal Premier Checking for business owners
Free account access with QuickBooks

Discount on payroll service

No-fee to use other banks’ ATMs and reimbursement of other banks’ surcharges³

1. Transactions include checks paid, ACH debits, ATM withdrawals, debit card/point-of-sale transactions and deposited items.
2. Certain exclusions apply. See a Business Banking Officer or call 1-800-333-8000 for details.
3. Up to 10 per month.

Low Volume and Balances

Account Type

Free Business Checking

Select Business I Checking

Select Business II Checking

Ideal For

Start-ups, sole proprietorships, or not-for-profit businesses with fewer than 100 monthly banking transactions

Smaller businesses with low transaction volume or combined checking and money market balance of $10,000 or more

Small-to-midsize businesses with moderate transaction volume or combined checking and money market balance of $20,000 or more

Monthly service charge

None

$11

$18

Minimum balance to waive fee

N/A

$10,000 minimum daily balance

$20,000 combined average daily balance

Number of monthly transactions included in fee¹

100

200

Excess fee per transaction

$0.50

$0.30

Balances included in minimum

N/A

Select Checking and Money Market

Online banking with bill pay

Eastern Business Banking®

Cash Reserve Line of Credit available

X

Ability to link a savings account and make fund transfers

X

1. Transactions include checks paid, ACH debits, ATM withdrawals, debit card/point-of-sale transactions and deposited items.

High Volume and Balances

Account Type

Premier Business Checking

Cash Management Checking

Ideal For

Businesses with up to 500 monthly transactions or a combined balance of $40,000 or more

Larger companies with multiple checking accounts and a need for treasury management services

Monthly service charge

$50

$21

Minimum balance to waive fee

$40,000 combined average daily balance

Earnings credit paid to offset service fees

Balances included in minimum

Business deposit balances¹

N/A

Excess fee per transaction

$0.50

$0.30

Balances included in minimum

N/A

Select Checking and Money Market

Transaction fees²

500 free transactions included

$0.50 per transaction in excess of 500

$0.20 per check fee
$1.00 per deposit
$0.15 per item deposited
$0.25 per preauthorized ACH debit/credit

Online banking with bill pay

Eastern Business Banking®

Ability to link a savings account and make fund transfers

X

Can link multiple accounts for earnings analysis report

Other benefits

Free account access with QuickBooks

Discount on payroll service

No fee to use other banks’ ATMs – and reimbursement of other banks’ surcharges⁴

Access to a wealth of cash management services

1. Certain exclusions apply. Visit an Eastern Bank branch or call 1-800-333-8000 for details.
2. Transactions include checks paid, ACH debits, ATM withdrawals, debit card/point-of-sale transactions and deposited items.
3. Fees may be offset in whole or in part by earnings credit generated from your account balances.
4. Up to 10 per month.