Business Checking Accounts
The Business Checking Comparison chart below shows, you get a wide range of benefits no matter which account you choose.
| Account Features & Benefits | Small Business Checking | Business Now* | Nonprofit Checking* |
|---|---|---|---|
| Minimum Balance Required to Open | $25 | $25 | $25 |
| Minimum Balance to Avoid Service Charge | None | None | $1,000 minimum daily balance |
| Fees | None | $20/month; Per item fees apply; earnings credit may offset fees | $15/month if minimum balance is not met |
| Interest | None | Compounded daily, paid on the last business day of the month on balance of $2,000 or more on collected balances | Tiered rates vary; compounded daily and paid monthly on minimum balance of $1,000 or more on collected balances |
| Items per Month | Up to 500 per month; $.55 per item over 500 | Unlimited, subject to analyzed per item charge | Up to 500 per month; $.50 per item over 500 |
| Minimum Balance to Earn Interest | N/A | $2,000 minimum daily collected balance | $1,000 minimum daily collected balance |
| VISA® Debit Card | Free | Free | Free |
| ATM/Branch Withdrawals | Unlimited | Unlimited | Unlimited |
| Online Banking, Mobile Banking & Bill Pay | Available | Available | Available |
| e-Statements | Available | Available | Available |
| Cash Management Online Wires & ACH | Available | Available | Available |
Business Savings Accounts
FDIC-Insured Options
With competitive rates of interest, ready accessibility and the ability to link with your other Bryn Mawr Trust accounts, there’s an ideal account, or two, for your business. See the Comparison Chart below.
| Account Features & Benefits | Business Market Rate | Proven Choice Business Money Market | Business Statement Savings |
|---|---|---|---|
| Minimum Balance Required to Open | $25 | $50,000 | $100 |
| Minimum Balance Required to Avoid Service Charge Fee | $2,000 average daily balance in the account or the average daily combined balance in your BMT business checking and Market Rate Account equals to or exceeds $5,0001 | $50,000 minimum daily | $100 minimum daily |
| Minimum Balance to Earn Interest | $2,500 | $50,000 | None |
| Interest and How It’s Paid | Tiered rates are compounded daily and credited monthly. | Tiered rates are compounded daily and credited monthly. | Rates are compounded daily and credited monthly. |
| Deposit Limits | None. You can make deposits as often as desired — in branches or via transfers and ATMs. | None. You can make deposits as often as desired — in branches or via transfers and ATMs. | None. You can make deposits as often as desired — in branches or via transfers and ATMs. |
| Transactions Limits | Up to six pre-authorized transfers to third parties per monthly statement cycle. | Up to six pre-authorized transfers to third parties per monthly statement cycle. | Up to six pre-authorized transfers to third parties per monthly statement cycle. |
Non-FDIC Insured Savings and Investment Options
We have all the traditional ways to fund your lifetime savings goal.
- Sweep Account – Links your business checking account to an investment account to ensure your money is productive.
- U.S. Treasury Obligations – An entire spectrum of terms can be purchased through Bryn Mawr Brokerage.
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