Andover Bank has business checking accounts designed to meet the needs of all businesses. Big or small we can fit you into the right account for you. All accounts provide monthly statements and the security of FDIC insurance. A wide variety of support services are available to enhance the convenience of your account relationship. Each account offers FREE ONLINE BANKING!
This is the most popular account for retail, manufacturing and medium sized business. The monthly service charge is $6.50 per month plus $.15 per check paid. There is no charge for items deposited into the account. An earnings credit will be given to offset the monthly fee. The earnings credit is calculated as follows: for every $100 average balance maintained in the account, a 3.5% earnings credit will be given to offset the fee.
Free Business Checking
This account is most popular for non-profit organization, sole proprietors and small business. No monthly service charge will be assessed unless there are more than 75 transaction items per month. A transaction item is defined as each deposited, paid or cashed item, such as checks, cash deposits and withdrawals. For each transaction over 75, a $.25 cent per item fee will be assessed.
Commercial Interest Checking
Andover Bank offers a Commercial Interest Checking with a tiered interest earning structure. Interest is variable, could change at any time, compounds monthly and is credited monthly at the end of the statement cycle. No monthly service charge will be assessed if the balance on the account is above $10,000. If the balance falls below $10,000 anytime during the cycle, the fee is $15.00. Transaction items per month at no cost 75; 25 cents per item thereafter. A transaction item is defined as each deposited, paid or cashed item, such as checks, cash deposits and withdrawals. There are unlimited, no-fee electronic transactions.
Our knowledgeable account representatives will help you choose the account that is right for you. Contact us today by phone at 440-293-7605 or e-mail us at firstname.lastname@example.org