Business Checking Accounts
We understand that not all businesses are the same, and that’s why we have a variety of business bank accounts. We accommodate small businesses that need an account to deposit a few checks as well as businesses with high volume.
View our full business deposit product offering in a side by side comparison.
Terms and conditions outlined in the attachment.
Small Business Checking
Are you a small business looking for a business checking account with a low minimum balance? Bristol Morgan Bank’s Small Business Checking is perfect for small businesses that want a simple and affordable checking account. Why not spend your hard earned dollars on inventory instead of bank fees?
| Minimum balance | $500 1 |
|---|---|
| Transaction details | 250 FREE credits/debits per month 2 |
- There is a monthly service charge of $10 if account falls below the average daily balance of $500.
- $.25 for each debit and credit in excess of 250. Assessed on credit and debit items during a month.
Business Checking
Bristol Morgan Bank’s Business Checking is an analysis account designed to help ease or eliminate fees. Call one of our officers to see if our Business Checking can save you money. Have your current bank statement ready so a business lender can create a side by side comparison.
| Monthly analysis charge | $15 |
|---|---|
| Minimum balance | No Minimum |
| Transaction details | $.15 per debit/credit but, earnings credit can reduce or eliminate fees! 1 |
- Earnings credit will be calculated by applying the periodic earnings credit rate to the average daily investable balance in the account for the period. The investable balance is the average daily balance reduced by 10%. Excess earnings credit does not carry forward.
Community Partner Checking
Our Community Partner Checking account allows you to manage your businesses finances while earning interest. This account is great if you keep a slightly larger balance in your business checking. This is a tiered account so the higher your balance the more interest you will earn. The best part is that all transactions are free!
*Non-profit organizations and municipalities are eligible for Community Partner Checking.
| Earns interest | Yes 1 -Credited monthly |
|---|---|
| Minimum balance | No Minimum |
| Rate information | Rates fluctuate with the market so your interest rates are subject to change but we always make sure we are offering highly competitive interest rates. |
| How we calculate interest | Daily balance computation method-applies a daily periodic rate to the principal in the account each day. |
- If the account is closed before interest is credited, you may receive the accrued interest.
Debit Cards
Bristol Morgan issues MasterCard® debit cards for personal and business use. They feature contactless payment, can be added to your digital wallet, and managed from Bristol Morgan Bank mobile banking apps. Talk to a customer service representative to get your card set up today!
We are a member of the MoneyPass® ATM Network. Use your MoneyPass® debit card at any participating ATM without paying a surcharge.
*Visa Classic® credit cards are also an offered service through Bristol Morgan Bank. Please contact a customer service representative for additional details.
Direct Deposit & Payroll Services
Bristol Morgan Bank offers direct deposit for all consumer and business deposit accounts. Set up your own direct deposit or offer your employees the convenience to electronically deposit paychecks right into their own bank account. Simply create and present your NACHA formatted payroll file through an internet-based software program—from there we will do the work. Bristol Morgan Bank sends the ACH files, so they are ensured to be delivered into your employees’ accounts on payday.
Talk to our Relationship Banker to get started!