Commercial Checking Accounts:
Revere Bank is pleased to offer your business an array of business checking solutions. Whether your business is a small start-up with minimum transactions, or well established with high balances and a large number of transactions, we offer an account to meet your needs. All of our business checking accounts offer MasterCard® Business Check Card and online account access. Please consult with your Financial Services Representative or Account Officer for a customized plan.
Business Classic
If your business has limited monthly transactions, this account is for you. As long as you maintain a minimum daily balance of $500, there is no monthly maintenance fee. And, you are allowed 50 debits and 100 deposited item transactions at no charge. You can open this account with a minimum opening deposit of $100.
Business Classic Plus
This comprehensive business package has many banking tools to help your business and your employees. You'll receive pricing benefits by linking your deposit and loan balances together. And, by maintaining one of the following combined minimum daily balance options, you will not be charged the monthly maintenance fee:
-
$5,000 combined business balance in your checking and/or related savings, money market and certificate of deposit; or,
- $30,000 combined business balance in your checking and/or related savings, money market, certificate of deposit and business loan balances (can include the owner's Home Equity line/loan)
Here are some additional benefits featured in this account:
- 6-Months waived service charge for new accounts
- No-monthly-maintenance-charge personal Advantage Checking account for the business owner(s)
- Employees receive the benefit of a no-maintenance-fee checking account (with direct payroll deposit)
You can open this account with just $100, and you are allowed 100 debits and 200 deposited item transactions at no charge.
Business Advantage
Designed for the small business that generates a large number of monthly items, this account provides an earnings credit—based on your average collected balance and current short - term interest rates—that can offset the monthly service charge. There is no minimum balance required with this account. Minimum opening deposit is $100.
Business Advantage Plus
Designed for the larger business customer, this account combines the benefits of an earnings credit and the opportunity to incorporate additional services such as Quick Bank (our remote deposit service), zero balance accounts, corporate sweeps, and other cash management services. There is no minimum balance required for this account. A monthly maintenance charge applies, as does a fee for deposited items and checks/debits.
Non Profit Checking
Designed for local and community-based non profit organizations, this account features: no maintenance fee when you maintain a $50 balance; online banking access; and FDIC insurance.
IOLTA (Interest on Lawyer Trust Account)
Designed for the use of attorneys, law firms and professional corporations, these interest-bearing trust accounts allow Revere Bank to partner with the legal profession to raise funds to help ensure access to justice for the underprivileged.
MAHT (Maryland Affordable Housing Trust)
Interest-bearing accounts for title insurers and title insurance agents to pool client trust funds in connection with escrows, settlements, closings, or title indemnifications for properties in Maryland.
For further details on each of these accounts, including other fees that may apply to all business checking accounts, please contact a Revere Bank Financial Services Representative for our most up-to-date Business Disclosure.