 Northway Business Advantage Checking
Don’t miss out on services that can help you maximize your business
banking. Northway Business Advantage Checking gives you a suite of free
extras to help your business prosper!
Available to: business customers who maintain designated deposit accounts at Northway Bank.
Minimum Balance to Open: $100.00
Monthly Maintenance Fee: $20.00 monthly fee will be waived for
customers that maintain a minimum daily balance of at least $15,000 in
a primary designated deposit account or a combined minimum daily
balance of at least $20,000 for each day of the statement cycle.
(Combined balance may be met via a combination of Northway Business
Advantage checking plus designated Northway Bank deposit account
minimum balances, including checking, savings, money market and ledger
balance of certificate of deposit accounts.)
Transaction Limits: up to 300 deposits, checks deposited, and/or checks written.
Statement: You’ll receive monthly account statements, which will be accompanied by item “images” (12 images per page).
Account extras: free ATM Debit card for business principals;
free investment consultation with an Infinex investment executive at
Northway Bank for business principals and employees; free zipper
deposit bag; free online banking with bill pay.
Check Cost: Your business assumes the cost of checks and accessories ordered.
Business NOW Account
Depending on the type of your business, you may be able to take
advantage of our Business NOW Account, earning interest on your
checking funds.
Available to: Sole proprietorships, non-profit organizations and non-profit corporations.
Interest: As long as you have a minimum $1,500.00 balance in your
account each day, you’ll earn a competitive variable interest rate that
may change at any time at the bank’s discretion.
Minimum Balance to Open: $100.00
Monthly Maintenance Fee: $5.00 if the average daily collected
balance for the statement cycle falls below $500.00. If the average
daily collected balance is $10,000 or greater, however, the monthly
maintenance fee (and all item charges) will be waived.
Item Charges: 50 transactions at no item cost during the
statement cycle; $.05 thereafter for each check deposited; and $.15
thereafter for each check paid.
Compounding and Crediting: Interest is compounded every day and
credited to the account monthly on the last day of the statement cycle.
Interest will not be paid if the account is closed before interest is
credited.
Balance Computation Method: Daily Balance Method
Accrual of Interest on Non-cash Items: Interest begins to accrue
on the first business day after the banking day on which non-cash items
are deposited. Cash deposits are credited on the same business day they
are deposited.
Statement: You’ll receive monthly account statements, which will be accompanied by item “images” (12 images per page).
Check Cost: Your business assumes the cost of checks and accessories ordered.
Business Checking
Our Commercial Checking Account is designed to provide you with the
utmost convenience in day-today banking while minimizing your banking
fees. Each month you will receive an Earnings Credit (based on your
account balance), which can offset your transaction fees. And, of
course, your Commercial Checking Account is insured to the maximum
amount allowed by the FDIC, providing you with complete peace of mind.
Available to: All types of businesses.
Interest: N/A
Minimum Balance to Open: $100.00
Monthly Maintenance Fee: $6.00
Item Charges: $.10 for each check deposited; $.15 per check that is paid; $.15 per deposit
Earnings Credit: An Earnings Credit will be applied against the
item charges and the monthly maintenance fee. If the Earnings Credit is
greater, there will be no item charges and no maintenance fee charged
to the account. Ask a customer service representative about our current
Earnings Credit rate.
Statement: You’ll receive monthly account statements, which will be accompanied by item “images” (12 images per page).
Check Cost: Your business assumes the cost of checks and accessories ordered.
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