Deposit Services

Business Basic Checking

A great account to hold down the cost of your business checking account. There are no monthly service charges or per check charges when a $100 minimum balance is maintained plus there is no charge for deposited items. Only $25 is required to open account.

Business NOW Account

This account enables sole proprietorships, municipalities and some nonprofits to earn interest on account balances, with a $500 minimum balance to earn interest and avoid monthly service charge.

Money Market Account

With our money market account you can get limited check writing privileges plus the higher yields of an investment account. This account offers a tiered interest rate.

Municipal NOW

The Municipal NOW account is an interest bearing operating account. Collected funds deposited into this Municipal N.O.W. account, in excess of the FDIC insured deposit balances, will be collateralized with U.S. Government and Agency Securities.

Features

Collateralization of Balances in account

$500.00 minimum balance to avoid service charge

Access via Internet

ACH capability

No charge for deposit items

Unlimited check writing

Imaged copies of cancelled checks in monthly statement

Benefits

Security and convenience

Saves Money

Can view transactions daily/bookkeeping

Convenience of electronic payments & receivables

Saves on Bank fees

Control of funds

Easier reconciliation

Checks: May purchase through Passumpsic Savings Bank or another vendor

Interest: Interest is earned on balances over $500.00.

Minimum to open: $500.00

Eligible entities: Entities managing Public funds and are authorized in 24 V.S.A Sec. 1751 such as: cities,towns, school districts, fire districts, water districts, state and federal government.

**Keep $500.00 balance to avoid monthly maintenance fee of $5.00 and $0.15 per check that clears account**

To request more information, click here or email commloan@charterbn.com