Demand Deposit Accounts
A DDA is the fundamental tool for money management of a small corporation or partnership. It is low cost and flexible. You receive $.10 credit allowance for each $100.00 average collected balance.* Charges include an $8.00 monthly service charge, $.18 per each check paid and $.99 per each deposit. Charges are assessed at the end of each month only after they exceed the monthly credit.
Sales through your merchant credit card program can be credited to your account. ACH Payroll Services are available for business accounts and can be used through the DDA. Detailed monthly statements are issued at the end of each month. DDAs can take advantage of our night depository and a full-range of 24-hour banking services using Nantucket Bank's Business Debit Cards, Online Banking, Bill Payment Services or Bank By Phone.
*Earnings credit is variable. The Bank may adjust this rate at anytime. |
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Business NOW Accounts
This is the ideal basic checking account to use when you’re in business for yourself and not incorporated. Minimum deposit to open this account is $100.00. There is no service charge if a balance of $1,200.00 is maintained. If it falls below this amount, a service charge of $8.00 per month is assessed. There is no charge for the first 25 checks processed each month.
NOW Accounts can be set up for direct deposit and pre-authorized transfers.
These accounts can take advantage of a full-range of 24-hour banking services using Nantucket Bank’s ATM or Business Debit cards, Online Banking and Bill Payment Services.
This is a variable rate account and the Bank may adjust the interest rate and annual percentage yield at anytime. |
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