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Still not sure which plan is the right for you?

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Business Banking

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Compare Business Interest Rates

Find the right account for your needs.

 

Business Checking Rates

 

Business Checking

Simply Business Checking

Commercial Checking

Minimum deposit to open $250.00 $100.00 $250.00
Earnings Credit Rate* - balances of $0.00 through $500,000.00 0.10% N/A 0.10%
Earnings Credit Rate* - balances of $500,000.01 & above 0.10% N/A 0.15%
Interest Rate / APY N/A N/A N/A
Monthly Service Charge $20.00 $12.00 $25.00
Minimum average daily collected balance (unless otherwise indicated) required to waive monthly service charge $5,000.00 $1,500.00 N/A

 

Interest rates and annual percentage yields (APYs) are accurate as of January 2, 2018. Interest rates and APYs may change at any time at the bank's discretion. Interest is calculated on the daily collected balance (unless otherwise indicated) and is compounded and credited monthly. Fees may reduce earnings. Refer to our Schedule of Fees for information on other fees that may apply.

*Earnings Credit Rate - on net available balance for the statement cycle.

 

Business Savings Rates

 

Simply Business Savings

Business Relationship Money Market

Minimum deposit to open $50.00 $500.00
Interest Rate / APY - balances of $0.01 through $9,999.99 0.05% / 0.05% 0.15% / 0.15%
Interest Rate / APY - balances of $10,000.00 through $49,999.99 0.05% / 0.05% 0.15% / 0.15%
Interest Rate / APY - balances of $50,000.00 and up 0.05% / 0.05% 0.20% / 0.20%
Monthly Service Charge $10.00 $10.00
Minimum daily collected balance (unless otherwise indicated) required to waive monthly service charge N/A $10,000.00
Minimum average daily collected balance to waive monthly service charge $250.00 N/A

 

Interest rates and annual percentage yields (APYs) are accurate as of January 2, 2018. Interest rates and APYs may change at any time at the bank's discretion. Interest is calculated on the daily collected balance (unless otherwise indicated) and is compounded and credited monthly. Fees may reduce earnings. Refer to our Schedule of Fees for information on other fees that may apply.

During a statement cycle, you may not make more than six (6) withdrawals or transfers from your account to another bank account of yours or to a third party by means of a pre-authorized, automatic transfer or telephonic order or instruction, whether initiated by check, draft, debit card, or similar order to a third party. Limited transactions include checks, point-of-sale (POS) transactions, debit card purchases, transfers initiated via telephone/fax/email, online banking transfers/bill payments, overdraft protection draws, and automated transfers to another Westfield Bank deposit account, a third party, or another institution. Violations of these transaction limitations may result in account closure or a transfer of all account funds out of this account to a transaction account that you are eligible to maintain. Withdrawals and transfers made in person at one of our banking offices, by messenger, by mail, or at an ATM are unlimited. In addition, you are allowed unlimited automatic transfers to repay a Westfield Bank loan. The number of deposits is also unlimited.

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