With a variety of business checking and savings accounts, we offer an array of options for managing your money, backed by the service and expertise of our business banking specialists.
| Deposit Accounts | Waterford Business Classic Checking | Waterford Business Classic Checking with interest | Waterford Business Non-Profit Checking with interest | Waterford Business Analysis Checking | Waterford IOLTA/IOTA |
|---|---|---|---|---|---|
| Product Description | Basic small business checking account for any type of business. Ideal for businesses with less than 225 transactions per month. |
Interest bearing checking account for any type of business. Ideal for businesses with less than 225 transactions per month. |
Interest bearing checking account for sole proprietors and not-for-profit organizations with small to moderate transaction needs. | Designed for businesses with moderate to high checking activity levels. | Available exclusively to lawyers and title companies to hold client funds. |
| Minimum To Open | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Minimum Balance Requirements | None | None | None | None | None |
| Available at No Monthly Service Fee with Minimum Account balance | Yes. $1,500 average daily ledger balance in checking account for the monthly statement cycle. | Yes. $25,000 average daily ledger balance in checking account for the monthly statement cycle. | Yes. $5,000 average daily ledger balance in checking account for the monthly statement cycle or relationship of $50,000 in checking and savings. | Can be offset by earnings credit on average collected balance. | Yes. No minimum balance requirement. |
| Monthly Maintenance Fee | $10.00 | $20.00 | $20.00 | $25.00 | None |
| Transaction Fees | First 225 transactions free per month then $.30 each. | First 225 transactions free per month then $.30 each. | First 225 transactions free per month then $.30 each. | Refer to Treasury Management. | $.25 per deposit ticket $.12 per item deposited $.17 per check and other debits $.11 per ACH items |
| Debit Card/ATM Access | Yes, fees waived up to $30 or 10 transactions (whichever occurs first) per card per month plus unlimited debit card transactions. | Yes, fees waived up to $30 or 10 transactions (whichever occurs first) per card per month plus unlimited debit card transactions. | N/A | N/A | N/A |
| Pay Interest | No | Yes. Variable interest compounded and credited monthly on the daily collected balance. | Yes. Variable interest compounded and credited monthly on the daily collected balance. | No | Yes. Variable interest compounded and credited monthly on the daily collected balance. |
| Check Safekeeping | Yes | Yes | Yes | Yes | Yes |
| Images | Available upon request. Also available online. | Available upon request. Also available online. | Available upon request. Also available online. | Available upon request. Also available online. | Available upon request. Also available online. |
| Electronic Statements | Yes | Yes | Yes | Yes | Yes |
| Bill Pay | Yes | Yes | Yes | Yes | Yes |
| Online & Mobile Banking | Yes | Yes | Yes | Yes | Yes |
| Business Savings Accounts | Waterford Business Classic Savings ** | Waterford Business Premier Money Market ** |
|---|---|---|
| Product Description | Traditional savings account for businesses that maintain minimal balances. Limited to a total of 6 withdrawals per month.** |
High yielding Money Market account with limited check writing capabilities. Limited to a total of 6 withdrawals per month.** |
| Minimum To Open | $0.00 | $0.00 |
| Minimum Balance Requirements | None | None |
| Available at No Monthly Service Fee with Minimum Account balance | Yes. No minimum balance requirement. | Yes. No minimum balance requirement. |
| Monthly Maintenance Fee | None | None |
| Transaction Fees | None | 50 free deposited items and other credits per month then $.12 each. |
| Pays Interest | Yes. Variable interest compounded and credited quarterly on the daily collected balance. | Yes. Variable interest compounded and credited monthly on the daily collected balance. |
| Check Access | No | Limited to 6 checks per month |
| Check Safekeeping | N/A | Yes |
| Images | N/A | Available upon request. Also available online. |
| Electronic Statements | Yes | Yes |
| Online and Mobile Banking | Yes | Yes |
| ** Federal Regulation D limits the number of checks, preauthorized, automatic, telephone, electronic (including ACH), online, and other transfers and withdrawals not made in person or by ATM to 6 per month. | ||
View a more detailed comparison of our Checking Products and Saving Products.
• Business Classic Checking
• Business Classic Checking with Interest
• Business Non-profit Checking with Interest
• Business Analysis Checking
• Waterford IOLTA/IOTA
• Business Classic Savings
• Business Premier Money Market
• Business Preferred Money Market (tbd for inclusion)
Enjoy 24/7 access to real-time account information.
Manage your money easily through our convenient mobile apps.
An easy, secure and convenient way to pay your bills from your online or mobile banking platform.
We reimburse partner ATM usage fees up to $30.00 or 10 times per month, whichever comes first. Available for Business Classic Checking and Business Classic Checking with Interest only.
We can provide business replay postage paid envelopes for use to send deposits, payments or correspondence to us.
Enjoy a new or replacement debit card at a moment’s notice, now available at all our full-service offices.
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