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Deposit Products

Not all businesses have the same financial needs. That's why we offer a variety of commercial deposit services. Let us help you determine the best fit for your organization.

Free Business Checking
Business NOW Account
IOLTA (Interest on Lawyer Trust Accounts)
Business Money Market, Savings & CDs
Other Business Services


Free Business Checking

Tired of being nickeled and dimed? Free business checking takes out the hassles. No matter your size, Beverly Bank’s Free Business Checking account is for you. We've eliminated charges for basic business account transactions including check-writing, withdrawals, and deposits. And, there's no minimum balance required.

Features and Benefits

  • No minimum balance
  • No maintenance fee
  • No per check charge
  • No charge per deposit or deposited item
  • Free MasterCard® Business Debit Card 
Online Banking is available.

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Business NOW Account

If you fit the special category of a “Not-For-Profit” or “Sole Proprietorship”, a Business NOW Account could be perfect for you. Just keep a daily balance of $500 in your account and you avoid the monthly maintenance fee. Keep $10 in the account and you will earn the prevailing interest rate on all collected balances.

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IOLTA

Interest on Lawyers Trust Accounts (IOLTA) are offered at no cost to lawyers or their clients. Interest from lawyer trust accounts is pooled to provide civil legal aid to the poor and support improvements to the justice system.

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Money Market, Savings & CDs

Business Money Market Account

Running a successful business requires getting the most from every dollar. With our Business Money Market Account, offered with competitive rates, your money is working for you, is fully insured and you have check writing capability.

  • Linked to your Business checking account
  • Automatic "Sweep" feature
  • Online transfer capabilities
  • Minimum balance required $2,500.00 to waive monthly fee of $2.50
  • Minimum balance of $10.00 required to earn interest

Business Savings Account

We understand that as a business owner you want your money working for you, earning interest. Our Business Savings Account allows you to do just that. Whether you choose to use a passbook or receive a statement, the choice is yours. This account allows you cash management freedom when used in conjunction with our Free Business Checking Account. Your deposit is fully insured and you only need to maintain $10 to earn interest.

Business CDs

We understand that you may have long-term savings goals for your business. Our Business CDs give you the ability to do just that. These accounts are ideal for businesses that don’t require access to their funds and prefer the security of a fully insured deposit. A minimum opening deposit of just $500 is needed.

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Other Business Services

Deposit Services

  • ACH Origination and Transfers
  • Attorney/Escrow Accounts
  • Automatic Account Transfers
  • Bank By Mail
  • Bank By Phone
  • Business Checking
  • Business Savings
  • Cash Management
  • Certificates of Deposit
  • Combined Statements
  • Concentration Accounts
  • Investment Services
  • Landlord/Tenant Escrow Accounts
  • Merchant Credit Card Services
  • Money Market Accounts
  • Payroll Direct Deposit
  • Remote Deposit Capture

Additional Services

  • ATM/Debit Card
  • Credit Card
  • Drive-up Windows
  • Foreign Exchange
  • Internet Banking
  • Night Deposit
  • Notary Public
  • Wire Transfers
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Your Deposits are Insured in Full.

At Beverly Bank, every deposit is insured in full. Federal Deposit Insurance Corporation (FDIC) insures each depositor to at least $250,000. All deposits over and above this amount are covered by the Share Insurance Fund (SIF).

For more information about our products & services, please email us via our secure contact us page or give us a call at (978) 922-0857.


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