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 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®
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 X
X
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’ surcharges 3
Transactions include checks paid, ACH debits, ATM withdrawals, debit card/point-of-sale transactions and deposited items.
Certain exclusions apply. See a Business Banking Officer or call 1-800-333-8000 for details.
Up to 10 per month.
Lower volume and balances
Account Type
Free Business Checking
Select Business I Checking
Select Business II
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
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 3
Balances included in minimum
Business deposit balances 1
N/A
Transaction fees 2
500 free transactions included
$0.20 per check fee
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
