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
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Free Business Checking
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Select Business II Checking
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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
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$40,000 combined average daily balance
|
| Number of monthly transactions included in fee 1 |
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 balances 2
|
| Online banking with bill pay |
Eastern Business Banking®
|
Eastern Business Banking®
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Eastern Business Banking®
|
| Cash Reserve Line of Credit available |
X
|
X
|
X
|
| Ability to link a savings account and make fund transfers |
X
|
X
|
X
|
| Monit, a mobile-friendly financial assistant for business owners like you |
X |
X |
X |
| Other benefits |
|
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- 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’ surcharges 3
|
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Transactions include checks paid, ACH debits, ATM withdrawals, debit card/point-of-sale transactions and deposited items.
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Certain exclusions apply. See a Business Banking Officer or call 1-800-333-8000 for details.
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Up to 10 per month.
Lower volume and balances
| |
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 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 minimum daily balance
|
| # of monthly transactions included in fee 1 |
100
|
100
|
200
|
| Excess fee per transaction |
$0.50
|
$0.30
|
$0.30
|
| Balances included in minimum |
N/A
|
Select checking and money market
|
Select checking and money market
|
| Online banking with bill pay |
Eastern Business Banking®
|
Eastern Business Banking®
|
Eastern Business Banking®
|
| Cash Reserve Line of Credit available |
X
|
X
|
X
|
| Ability to link a savings account and make fund transfers |
X
|
X
|
X
|
- Transactions include checks paid, ACH debits, ATM withdrawals, debit card/point-of-sale transactions and deposited items.
Higher volume and balances
| |
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 3
|
| Balances included in minimum |
Business deposit balances 1
|
N/A
|
| Transaction fees 2 |
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®
|
Eastern TreasuryTM
|
| Ability to link a savings account and make funds 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’ surcharges 4
|
Access to a wealth of cash management services
|
- Certain exclusions apply. Visit an Eastern Bank branch or call 1-800-333-8000 for details.
- Transactions include checks paid, ACH debits, ATM withdrawals, debit card/point-of-sale transactions and deposited items.
- Fees may be offset in whole or in part by earnings credit generated from your account balances.
- Up to 10 per month.
Manage your business anytime, anywhere with Monit™
Introducing a digital financial assistant that gives you the numbers that matter most.
- Automated cashflow forecasting
- Actionable insights for your business
- Real-time planning tools, such as a PPP calculator to help you project and optimize forgiveness
