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Compare Business Checking Accounts
Contact us to consult with a Business Banking Representative.
Compare the products below to learn more.
| Learn More | Business Foward CheckingTM |
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|---|---|---|---|---|
| Account Summary | Ideal for most small to mid-sized businesses. Provides businesses with value-priced flexibility to efficiently manage your business. | Created for sole proprietors and non-profits maintaining high balances and looking to earn interest. | Designed for larger businesses or businesses with comprehensive Cash Management needs. |
Designed for law firms administering client funds. |
| Monthly Transactions Included |
500 free - 50 cents per additional item | 300 free - 50 cents per additional item | See Banker for details |
Unlimited |
| Monthly Maintenance Fee (if applicable)2 | $5 | $15 | $25 |
No fee |
| How to Avoid Monthly Maintenance Fee | Maintain a $500 average daily balance | Maintain a $2,500 average daily balance | Earnings credit may reduce or offset fee |
Not Applicable |
| Earns Interest3 | No | Yes | No |
Yes (Interest is earned for and paid to the respective state's (MA or NH) IOLTA Committee.) |
| Consolidated Billing via Account Analysis with Earnings Credit to Offset Fees4 | No | No | Yes |
See Banker for details |
| Cash Management Services5 | Cash Flow Solutions8 | Cash Flow Solutions8 | Full Suite of Cash Management Solutions9 |
Full Suite of Cash Management Solutions9 |
| Online Banking with Mobile and Bill Pay6 | Yes | Yes | Yes9 |
Yes9 |
| Instant-issue Debit Card7 | Yes | Yes | Yes |
No |
| Minimum to Open | $50 | $50 | $50 |
$50 |
1 Transactions include checks paid, ATM withdrawals and deposits, POS transactions, electronic debits and credits, deposits and deposited items.
2 Fees can be offset by maintaining average monthly balance or via earnings credit.
3 Earn interest on your balance. Interest rates are variable and subject to change after account opening.
4 An additional monthly statement provided that lists transactions by type for your review to better understand your account activity.
5 Services that enable your company to have your money where you need it, when you need it – such as Internet banking, remote capture, mobile banking and more.
6 With Corporate Online Banking you can view real-time account activity, and balances, make transfers and bill payments, and more from anywhere with internet access.
7 Specially prepared for Salem Five customers to provide access to the money in your account.
8 Cash Flow Solutions offers businesses with basic cash management needs a valued-priced solution.
Please see a banker for details.
9 Salem Five offers comprehensive Cash Management Solutions designed to meet the needs of large businesses and those with needs exceeding the Cash Flow Solution. See a banker for details.