Business Deposit Products

With easy access to your accounts in our branches, on the phone, or online, we make it easy for you and your staff to manage your banking relationship. The comparison chart below will help you find the account that’s just right for your business or organization.

Business Checking Account Comparison

 

Small Business Checking

Commercial Checking

Minimum Balance

$25,000

None

Service Charge

$15.00 monthly if below minimum daily balance

$25.00 monthly maintenance fee

Transaction Limitations

No

No

Interest Bearing

No

No

Free Online Banking

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Free Business Debit Card1

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 Free Bill Pay

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Remote Deposit Capture2

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Business Cash Reserve2
for overdraft protection and emergency cash

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Other Benefits

 

  • Low per-item fees on checks paid, deposits, items deposited and electronic transactions
  • Competitive earnings credit allowance may offset transaction fees

Business Money Market & Savings Account Comparison

 

Business Money Market Account

Prime Business Money Market Account

Business Savings Account

Minimum Balance

$2,500

$50,000

$250

Service Charge

$15.00 if below minimum daily balance

$30.00 if below average monthly minimum balance

$5.00 if below minimum daily balance

Transaction Limitations

Six pre-authorized transfers allowed per month**

Six pre-authorized transfers allowed per month**

Six pre-authorized transfers allowed per month**

Interest Bearing

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Free Online Banking

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Free Business Debit Card1

 No

 No

No 

 Free Bill Pay

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No

Remote Deposit Capture2

 No

 No

 No

Business Cash Reserve2
for overdraft protection and emergency cash

 No

 No

 No

 * Transaction items include checks paid, deposits, items deposited, ACH debits, and ACH credits.

** Federal Regulation limits the amount of pre-authorized transfers, checks, drafts, or debit card transactions to six per statement cycle, including transfers to a linked checking account for overdraft protection. There are no restrictions to deposits or withdrawals made in person. Refer to our Business Schedule of Service Charges for fees that may apply to these accounts.

1 Some institutions may charge a machine usage fee. The Milford National Bank is part of the SUM  Network. Look for ATMs with the SUM logo and you won't pay a surcharge!

2 Subject to approval.

Refer to our Business Schedule of Service Charges for fees that may apply to these accounts.

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