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. Effective 4/24/2020, this fee is temporarily suspended due to an interim rule by the Federal Reserve Board lifting the six (6) transfer limit from the “savings deposit” definition.
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. Effective 4/24/2020, this fee is temporarily suspended due to an interim rule by the Federal Reserve Board lifting the six (6) transfer limit from the “savings deposit” definition.
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. Effective 4/24/2020, this fee is temporarily suspended due to an interim rule by the Federal Reserve Board lifting the six (6) transfer limit from the “savings deposit” definition.
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. Effective 4/24/2020, this fee is temporarily suspended due to an interim rule by the Federal Reserve Board lifting the six (6) transfer limit from the “savings deposit” definition.
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.