Checking

Comparison Chart

Checking Comparison Chart
Features & Benefits	Ultimate Checking	Essential Checking	Student Checking¹
Minimum to Open	$5,000	$10	$10
Monthly Service Fee	$25 monthly service fee waived if $5,000 daily balance and direct deposit maintained	$5 monthly service fee waived if $100 average daily balance maintained
Minimum to Earn Interest	$5,000
Free SUM ATM Access
Unlimited Surcharge-free SUM^® ATM Access²	²
Unlimited Check Writing
Free Online Banking & Bill Pay
Free eStatements
Free Debit Card			³
Free Mobile Banking⁴
Free First Order of Checks
Direct Deposit Required⁵
Periodic Ultimate CD Promotions
Interest

¹Student Checking is available up to age 24

²$5,000 daily balance and monthly payroll or benefits direct deposit required

³ Parent or legal guardian signature required for accountholders less than 18 years of age

⁴ Standard data rates may apply

⁵ Monthly payroll or benefits direct deposit required

Essential Checking

Enjoy a variety of time-saving features. Maintain an average daily balance of $100 to avoid any monthly service or activity charges.

Unlimited check writing
Free first order of basic checks
Free Online Banking and Bill Pay
Free eStatements
Free Mobile Banking¹
No charges for transactions at SUM^® network ATMs²
MasterCard^® Debit Card
Overdraft protection options available

¹ Message and data rates may apply from your wireless carrier.

² Beverly Bank is not responsible for ATM surcharges imposed by others.

Open An Account

Ultimate Checking

Get more from an account that gives you more. Monthly $25 service fee waived if $5,000 daily balance and direct deposit of payroll or benefits check maintained.

Interest* on daily balances of $5,000 or more
- 0.75% APY for balances $5,000 - 50,000
- 0.25% APY for balances above $50,000 with a blended tier range from 0.75% APY to 0.50% APY
Unlimited ATM surcharge rebates¹
Unlimited check writing
Free first order of basic checks
Free Online Banking and Bill Pay
Free eStatements
Free Mobile Banking²
No charges for transactions at SUM^® network ATMs
MasterCard^® Debit Card
Overdraft protection options available

¹ $5,000 daily balance and direct deposit of payroll or benefits check required

² Message and data rates may apply from your wireless carrier.

* Interest rate and annual percentage yields (APY) may change after account opening. Fees may reduce earnings. Minimum balance of $5,000 required to open account and minimum balance of $5,000 required to obtain stated APY. Monthly minimum daily balance of $5,000 and monthly payroll or benefit direct deposit into the account are required to avoid $25 monthly service fee and receive the unlimited ATM surcharge rebates.

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Student Checking Account

Student Checking is designed for accountholders up until their 24th birthday. The Student Checking Account can be paired with a Student Savings Account. Parent or legal guardian signature required for accountholders under the age of 18.

$10.00 minimum balance to open
No monthly maintenance fee
Free Debit Card
No charges for transactions at SUM^® network ATMs
4 free¹ non-SUM^® ATM transactions per month
Free first order of checks
Online Banking
Mobile Banking²
eStatements
Reduced overdraft fee of $5.00³

¹ At ATMs outside SUM^® network, through age 23; standard fees apply upon turning age 24.

² Message and data rates may apply from your wireless carrier.

³ Standard overdraft fee applies upon turning age 24.

Refer to your Truth in Savings disclosure for additional fees and charges information.

How to Open

Money Market Accounts

With higher interest rates for higher balances, this account provides a simple way to maximize interest earnings while maintaining immediate access to funds. If you tend to keep more funds on hand, this account will give you flexibility and a higher return. Regular monthly statements will detail account activity and interest earned.

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Overdraft Protection

Sometimes accidental overdrafts just happen. In the event of a deposit delay or budget miscalculation, we offer options to help you avoid the embarrassment of having a check returned and extra hassle that overdrafts can bring.

Beverly Bank offers the Overdraft Privilege Service. If your account qualifies for Overdraft Privilege, we will consider, without obligation on our part, paying items for which your account has insufficient or unavailable funds, instead of automatically returning those items unpaid. With this service, Beverly Bank may authorize and pay checks written, automatic bill payments, and other electronic transactions that exceed your current account balance. If you accidentally overdraw your account, we may cover your overdrafts, thus saving you the inconvenience of any bounced checks and fees normally charged to you by merchants for items returned to them. Overdraft Privilege does not cover overdrafts caused by ATM and debit card transactions, unless you authorize the bank to do so. There is no fee to sign up for Overdraft Privilege, but our standard per item overdraft fees¹ will apply if you overdraw your account.

¹ A $30 overdraft charge per item, with a limit of six per-item charges per day. 18/65 accounts will be charged a $5 per-item overdraft charge.

An Overdraft Line of Credit² is a loan that provides automatic coverage up to your available credit line whenever you write a check or make a withdrawal for more than your checking account balance. Learn more.

² Subject to credit approval.

Overdraft Protection uses an automatic sweep transfer from your Statement Savings Account. This feature automatically withdraws funds from your savings account and deposits them into your checking account in the event of an overdraft.³

³ There is a $5 fee for each transfer. No more than six transfers and withdrawals, or a combination of such transfers and withdrawals are permitted per statement cycle to another Beverly Bank account or to a third party by means of a preauthorized or automatic transfer, online transfer or telephone transfer or similar order made by the depositor.

Update your check register
Check your account balance frequently
Set low balance alerts to receive an email when your balance falls below a set amount
Sign up for Overdraft Protection from Savings
Apply for an Overdraft Line of Credit
Track and record your ATM/debit card transactions
Sign up for direct deposit

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).