The following are qualifications and conditions for Business Banking products. Please see the corresponding product page for full product details.
Checking Account Qualifications & Considerations
Business Complete Checking
Business / Government Checking
Business / Government Now
Interest on Lawyer’s Trust Account
Interest on Realtor’s Trust Account
Not for Profit NOW
Savings Account Qualifications & Considerations
Benefit Savings
Business Complete Money Market Account
Business Premium Money Market Account
Cash Management Money Market Account
Market Rate Account
Statement Savings
Payroll and Tax Services Qualifications & Conditions
Comp-As-You-Go
Business Credit Card Qualifications & Considerations
Business Credit Cards
Checking Account Qualifications & Conditions
Business Complete Checking
Minimum $100 deposit to open. Business Complete is a non-interest bearing account.
500 free transactions per month. $0.50 per transaction after first 500. Transactions include deposits, items deposited, and items debited from the account. Business Overdraft Protection/Line of Credit available, subject to credit qualifications. Online, ACH, Stop Payment, and Wire Transfers may be subject to fees.
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Business / Government Checking
Fees: $7 monthly service charge, $0.15 for each item paid, $0.10 for each deposit, $0.10 for each on-us check deposited, $0.12 for each not-on-us check deposited.
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Business / Government Now
Fees: $7 monthly service charge, $0.15 for each item paid, $0.10 for each deposit, $0.10 for each on-us check deposited, $0.12 for each not-on-us check deposited.
Minimum daily balance of $1,000 required to earn the disclosed annual percentage yield. Rates may change at any time without notice. Your interest rate and annual percentage yield may change. Interest begins to accrue on the business day you deposit non-cash items. Interest is compounded daily and credited monthly.
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Interest on Lawyer’s Trust Account
Rates may change at any time without notice. Your interest rate and annual percentage yield may change. Interest begins to accrue on the business day you deposit non-cash items. Interest is compounded daily and credited monthly. No minimum balance required to earn interest.
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Interest on Realtor’s Trust Account
Rates may change at any time without notice. Your interest rate and annual percentage yield may change. Interest begins to accrue on the business day you deposit non-cash items. Interest is compounded daily and credited monthly. No minimum balance required to earn interest.
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Not for Profit NOW
Fees: The first 50 debit items (withdrawals, checks, ACH) per statement cycle are without charge. A $0.15 fee will be applied for each item paid after the first 50.
Minimum daily balance of $1,000 required to earn the disclosed annual percentage yield. Rates may change at any time without notice. Your interest rate and annual percentage yield may change. Interest begins to accrue on the business day you deposit non-cash items. Interest is compounded daily and credited monthly.
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Savings Account Qualifications & Conditions
Benefit Savings
We reserve the right to change the interest rate on your account at any time. Interest will be compounded daily and credited to your account monthly. We use the daily balance method to calculate the interest on your account. Non-cash deposit interest begins to accrue on the business day you deposit items.
Federal regulation limits third party or pre-authorized transfers (including overdraft transfers) or transfers made by telephone or personal computer to six per statement cycle, including check, draft, or check card.
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Business Complete Money Market Account
Must have or open a Business checking account. Minimum to open is $5,000. You must maintain a minimum balance of $5,000 to accrue interest.
This is a tiered rate account. Your interest rate and annual percentage yield may change. We reserve the right to change the interest rate on your account at any time. Interest will be compounded daily and credited to your account monthly. We use the daily balance method to calculate the interest on your account. Non-cash deposit interest begins to accrue on the business day you deposit items. For current rates, visit our Rates page.
Federal regulation limits third party or pre-authorized transfers (including overdraft transfers) or transfers made by telephone or personal computer to six per statement cycle, including check, draft, or check card.
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Business Premium Money Market Account
Minimum daily balance of $5,000 required to earn the disclosed annual percentage yield. Rates may change at any time without notice. Your interest rate and annual percentage yield may change. Interest begins to accrue on the business day you deposit non-cash items. Interest is compounded daily and credited monthly.
Federal regulation limits third party or pre-authorized transfers (including overdraft transfers) or transfers made by telephone or personal computer to six per statement cycle, including check, draft, or check card.
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Cash Management Money Market Account
Minimum daily balance of $5,000 required to earn the disclosed annual percentage yield. Rates may change at any time without notice. Your interest rate and annual percentage yield may change. Interest begins to accrue on the business day you deposit non-cash items. Interest is compounded daily and credited monthly.
Federal regulation limits third party or pre-authorized transfers (including overdraft transfers) or transfers made by telephone or personal computer to six per statement cycle, including check, draft, or check card.
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Market Rate Account
$5,000 minimum balance to open and keep as a minimum daily balance to obtain the disclosed annual percentage yield. Monthly service charge of $10.00 if balance falls below $5,000 minimum.
Federal regulation limits third party or pre-authorized transfers (including overdraft transfers) or transfers made by telephone or personal computer to six per statement cycle, including check, draft, or check card.
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Statement Savings
Interest is compounded daily and rates are tiered for higher yields.
Federal regulation limits third party or pre-authorized transfers (including overdraft transfers) or transfers made by telephone or personal computer to six per statement cycle, including check, draft, or check card.
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Payroll and Tax Services Qualifications & Conditions
Comp-As-You-Go
Acceptance to Comp-as-you-go is subject to MEMIC underwriting review. Comp As You Go applies to Bangor Payroll customers only. Payroll services are subject to enrollment in Bangor Payroll tax service. Your insurance agent will assist you in adding the Comp-As-You-Go payment plan to your MEMIC workers' compensation policy.
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Business Credit Card Qualifications & Considerations
Business Credit Cards
No annual fee credit card with Rewards available, subject to credit qualification.
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