Product Disclosures

Personal Banking

 

Checking Account Qualifications & Conditions

Bangor Workplace Advantage Program

Minimum opening balance of $25 required. Minimum balance of $1,000 each day is required to earn interest. 

The $20 monthly service charge will be waived for the primary owner or manager of the business checking relationship and for employees of participating businesses. 

The $20 monthly service charge is also waived if qualification is maintained. Qualify by maintaining $10,000 in combined balances in your Bangor Savings Bank deposit accounts, Bangor Savings Bank Trust or Bangor Financial Services account; a Bangor Savings Bank residential first mortgage and/or a Bangor Savings Bank home equity line of credit of $10,000 or more.

Minimum $25 opening deposit and Bangor Savings Bank checking account required in order to open Benefit Savings or Benefit Money Market account. 

$25.00 cash bonus offer for new Benefit Plus® Checking account opening is limited to one bonus per employee; bonus paid at account opening into the newly opened account. The $25 cash bonus will be reported on a 1099-INT as interest earned. The current Benefit Plus® Checking yield is available on our rates page. Rates are subject to change daily. 

No annual fee credit card with Rewards, subject to credit qualification.

Overdraft protection with Standby Money subject to credit qualification.

Any applicable origination fees for personal loans waived with Bangor Savings Bank Benefit Plus® Checking account and auto-payment of loan payment.

Relationship rate on home equity loan requires a Bangor Savings Bank deposit account and payment of loan with automatic payment.

The CD interest rate bonus is a one-time rate increase above the stated Certificate of Deposit rate. CD will renew at the regular Benefit Plus®  CD rate. 

Benefit 62 Checking

For customers 62 years of age and older. Minimum $25 deposit to open. Benefit 62 is a non-interest bearing account. No minimum daily balance, no monthly service charge, truncated or imaged. An early account closure fee applies to accounts closed within 90 days of opening.

Overdraft protection with Standby Money subject to credit qualification.

Benefit Checking

Minimum $25 deposit to open. Benefit Checking is a non-interest bearing account. No minimum daily balance, no monthly service charge. An early account closure fee applies to accounts closed within 90 days of opening.

Overdraft protection with Standby Money subject to credit qualification.

No annual fee credit card with Rewards available, subject to credit qualification.
 

Benefit Plus® Checking

The $20 monthly service charge will be waived if qualification is maintained. Qualify by maintaining $10,000 in combined balances in your Bangor Savings Bank deposit accounts, Bangor Savings Bank Trust or Bangor Financial Services accounts; a Bangor Savings Bank residential first mortgage; a Bangor Savings Bank home equity line of credit of $10,000 or more. This account is available as truncated or imaged. An early account closure fee applies to accounts closed within 90 days of opening.

Minimum balance of $25 to open our Benefit Plus® Checking account. Minimum balance to earn interest is $1,000. The current Benefit Plus® Checking rate is available on our rates page. Rates are subject to change daily. Fees could reduce earnings on the account.

No annual fee credit card with Rewards, subject to credit qualification. Overdraft protection with Standby Money subject to credit qualification.

Personal loan document preparation fee waiver is dependent on payment of the loan with automatic payment from a Bangor Savings Bank account.

 

Savings Account Qualifications & Conditions

Benefit Money Market Account

Must have or open a personal checking account. Minimum to open is $5,000. An early account closure fee applies to accounts closed within 90 days of opening.

You must maintain a minimum balance of $5,000 to accrue interest. This is a tiered rate account. The current Benefit Money Market account rates are available on our rates page. Your interest rate and annual percentage yield may change. We reserve the right to change the interest rate on your account at any time. Interest will be compounded daily and credited to your account monthly. We use the daily balance method to calculate the interest on your account. Non-cash deposit interest begins to accrue on the business day you deposit items.

Federal regulation limits third-party or pre-authorized transfers (including overdraft transfers) or transfers made by telephone, personal computer, or mobile device to six per calendar month, including check, draft, or debit card.
 

Benefit Savings

Must have or open a core checking account. Minimum to open is $25. An early account closure fee applies to accounts closed within 90 days of opening.

You must maintain a minimum balance of $25 to accrue interest. This is a tiered rate account. The current Benefit Savings rates are available on our rates page. Your interest rate and annual percentage yield may change. We reserve the right to change the interest rate on your account at any time. Interest will be compounded daily and credited to your account monthly. We use the daily balance method to calculate the interest on your account. Non-cash deposit interest begins to accrue on the business day you deposit items.

Federal regulation limits third-party or pre-authorized transfers (including overdraft transfers) or transfers made by telephone, personal computer, or mobile device to six per calendar month.
 

Great Start Savings

Must be under the age of 18 to be eligible for Great Start Savings. An adult co-owner is required for minors under the age of 16. Minimum to open Great Start Savings is $1. An early account closure fee applies to accounts closed within 90 days of opening.

The current Great Start Savings rates are available on our rates page.

Federal regulation limits third-party or pre-authorized transfers (including overdraft transfers) or transfers made by telephone, personal computer, or mobile device to six per calendar month.
 

Holiday Club

There must be a $25 minimum balance in the account each day to obtain the disclosed annual percentage yield. An early account closure fee applies to accounts closed within 90 days of opening.

Federal regulation limits third-party or pre-authorized transfers (including overdraft transfers) or transfers made by telephone, personal computer, or mobile device to six per calendar month.
 

Market Rate Account

Fees: $10 monthly service charge if balance falls below $5,000.

$5,000 minimum balance to open. Minimum daily balance of $5,000 required to earn the disclosed annual percentage yield. An early account closure fee applies to accounts closed within 90 days of opening.

Federal regulation limits third-party or pre-authorized transfers (including overdraft transfers) or transfers made by telephone, personal computer, or mobile device to six per calendar month, including check, draft, or debit card.

The current Market Rate Account rates are available on our rates page.

Market Rate IRA available: $25 minimum to open and keep as a minimum daily balance to obtain the disclosed annual percentage yield; interest compounded daily, with $25 minimum balance.

Federal regulation limits third-party or pre-authorized transfers (including overdraft transfers) or transfers made by telephone, personal computer, or mobile device to six per calendar month, including check, draft, or debit card.

 

Statement Savings

Interest is compounded daily and rates are tiered for higher yields. An early account closure fee applies to accounts closed within 90 days of opening.

The current Statement Savings rates are available on our rates page.

Federal regulation limits third-party or pre-authorized transfers (including overdraft transfers) or transfers made by telephone, personal computer, or mobile device to six per calendar month. 
 

Business Checking

 

Checking Account Qualifications & Conditions

Business Checking with Interest

Fees: $12 monthly service charge, $0.000105 depository fee, $0.17 per item paid, $0.14 per check deposited, $0.12 per credit.

Minimum $100 deposit to open. Minimum daily balance of $1,000 required to earn the disclosed annual percentage yield. Rates may change at any time without notice. Your interest rate and annual percentage yield may change. Interest begins to accrue on the business day you deposit non-cash items. Interest is compounded daily and credited monthly. An early account closure fee applies to accounts closed within 90 days of opening.
 

Business Complete Checking

Fees: First 500 combined items per statement cycle are free. $0.50 fee assessed for each item in excess of 500. Items include deposits and credits. ATM and debit card transactions are excluded. Online, ACH, stop payment, and wire transfers may be subject to fees.

Minimum $100 deposit to open. No monthly service charge. Business Complete is a non-interest bearing account. An early account closure fee applies to accounts closed within 90 days of opening.

Business Overdraft Protection/Line of Credit available, subject to credit qualifications.
 

Business/Government Checking with Analysis

Fees: $12 monthly service charge, $0.000105 depository fee, $0.17per item paid, $0.14 per check deposited, $0.12 per credit.

Minimum $100 deposit to open. Account analysis is available on the 15th of each month for the prior month. The analysis shows all fees and earning credit to help offset fees. An early account closure fee applies to accounts closed within 90 days of opening.
 

Community Complete with Interest

Fees: The first 50 debit items (withdrawals, checks, ACH) per statement cycle are without charge. A $0.15 per item fee assessed for each item in excess of 50.

Minimum $100 deposit to open. Minimum daily balance of $1,000 required to earn the disclosed annual percentage yield. Rates may change at any time without notice. Your interest rate and annual percentage yield may change. Interest begins to accrue on the business day you deposit non-cash items. Interest is compounded daily and credited monthly. An early account closure fee applies to accounts closed within 90 days of opening.
 

Government & Not-For-Profit with Interest

Fees: $12 monthly service charge, $0.000105 Depository Fee, $0.17 per item paid, $0.14 per check deposited, $0.12 per credit.

Minimum $100 deposit to open. Minimum daily balance of $1,000 required to earn the disclosed annual percentage yield. Rates may change at any time without notice. Your interest rate and annual percentage yield may change. Interest begins to accrue on the business day you deposit non-cash items. Interest is compounded daily and credited monthly. An early account closure fee applies to accounts closed within 90 days of opening.
 

Interest on Lawyer’s Trust Account

Minimum $100 deposit to open. No monthly service charge. No minimum balance required to earn interest. Rates may change at any time without notice. Your interest rate and annual percentage yield may change. Interest begins to accrue on the business day you deposit non-cash items. Interest is compounded daily and credited monthly. An early account closure fee applies to accounts closed within 90 days of opening. Title companies are not eligible for an IOLTA account. 

Interest on Realtor's Trust Account

Minimum $100 deposit to open. No monthly service charge. No minimum balance required to earn interest. Rates may change at any time without notice. Your interest rate and annual percentage yield may change. Interest begins to accrue on the business day you deposit non-cash items. Interest is compounded daily and credited monthly. An early account closure fee applies to accounts closed within 90 days of opening.


Savings Account Qualifications & Conditions

Benefit Savings

Must have or open a Business checking account. $25 minimum to open. No monthly service charge. Minimum daily balance of $25 required to earn the disclosed annual percentage yield. We reserve the right to change the interest rate on your account at any time. Interest will be compounded daily and credited to your account monthly. We use the daily balance method to calculate the interest on your account. Non-cash deposit interest begins to accrue on the business day you deposit items. An early account closure fee applies to accounts closed within 90 days of opening.

Federal regulation limits third-party or pre-authorized transfers (including overdraft transfers) or transfers made by telephone, personal computer, or mobile device to six per calendar month.

Business Complete Money Market Account

Must have or open a Business checking account. Minimum to open is $5,000. No monthly service charge. Minimum daily balance of $5,000 required to earn the disclosed annual percentage yield. This is a tiered rate account. Your interest rate and annual percentage yield may change. We reserve the right to change the interest rate on your account at any time. Interest will be compounded daily and credited to your account monthly. We use the daily balance method to calculate the interest on your account. Non-cash deposit interest begins to accrue on the business day you deposit items. For current rates, visit our rates page. An early account closure fee applies to accounts closed within 90 days of opening.

Federal regulation limits third-party or pre-authorized transfers (including overdraft transfers) or transfers made by telephone, personal computer, or mobile device to six per calendar month, including check, draft, or debit card.

Market Rate Account

Fees: $10 monthly service charge if balance falls below $5,000.

$5,000 minimum balance to open. Minimum daily balance of $5,000 required to earn the disclosed annual percentage yield. An early account closure fee applies to accounts closed within 90 days of opening.

Federal regulation limits third-party or pre-authorized transfers (including overdraft transfers) or transfers made by telephone, personal computer, or mobile device to six per calendar month, including check, draft, or debit card.

Statement Savings

$25 minimum balance. Minimum daily balance of $25 required to earn the disclosed annual percentage yield. Interest is compounded daily and rates are tiered for higher yields. An early account closure fee applies to accounts closed within 90 days of opening.

Federal regulation limits third-party or pre-authorized transfers (including overdraft transfers) or transfers made by telephone, personal computer, or mobile device to six per calendar month.
 

Payroll and Tax Services Qualifications & Conditions

Comp-As-You-Go

Acceptance to Comp-As-You-Go is subject to MEMIC underwriting review. Comp-As-You-Go applies to Bangor Payroll customers only. Payroll services are subject to enrollment in Bangor Payroll tax service. Your insurance agent will assist you in adding the Comp-As-You-Go payment plan to your MEMIC workers' compensation policy.

Business Credit Card Qualifications & Considerations

Business Credit Cards

No annual fee credit card with rewards available, subject to credit qualification.