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At Westbay Bank, we understand the importance of building a strong personal relationship with our business customers. Our experienced staff will give you professional advice to assist you in making the right account choices to suit your financial needs.
Commercial Analysis Checking
Opening Eligibility: To open this account, you must be 18 years of age and deposit at least $100.00.
Earnings Allowance
Account Analysis allows the earning value of the average ledger balance(s) for the current Month's Statement cycle in your DDA account(s) to offset the current Month's banking service charges. The earnings rate is variable and determined monthly at the banks discretion.
| Tier 1 |
$0 to $49,999.99 |
The Earnings rate earned on the entire balance portion will be |
0.10%
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| Tier 2 |
$50,000.00 to $99,999.99 |
The Earnings rate earned on the entire balance portion will be |
0.15% |
| Tier 3 |
$100,000.00 to $149,999.99 |
The Earnings rate earned on the entire balance portion will be |
0.20% |
| Tier 4 |
$150, 000.00 or more |
The Earnings rate earned on the entire balance portion will be |
0.25% |
Account Analysis Service Fee
The service charge generated by Account Analysis will be deducted on each Monthly Statement.
Charge at Recap
You may decide to combine Business Checking Accounts you hold at Westbay Bank for Analysis purposes. All recap account average ledger balances and service fees for the current Month's Statement cycle will be combined with the resulting service fee being deducted from the Primary Account's Monthly Statement.
Charges
| Monthly Maintenance Fee |
$15.00 |
| Deposits (each) |
$0.75 |
| Checks/Items Deposited (each) |
$0.25 |
| Cash Deposited per 100.00 |
$0.10 |
| Checks Paid (each) |
$0.25 |
| ACH credits & debits (each) |
$0.15 |
| Foreign ATM Withdrawal |
$2.50 |
| Foreign ATM Deposit |
$0.75 |
| Negative Collected Balance Usage Fee |
Prime Rate Plus 2% |
If you close your account within three (3) months from the opening date, an Early Closing fee of $10.00 will be assessed.
Please refer to our Customer Accommodation Service Fee Schedule for a listing of other fees that may apply to your account.
Checks/Withdrawals are subject to our Check Clearing Policy. No checks of any kind are cashed for Non-customers.
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Small Business Checking
Opening Eligibility: To open this account, you must be 18 years of age and deposit at least $100.00
Charges
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Monthly Maintenance Fee
The Monthly Maintenance Fee will be waived if your Average Balance is $1,500.00 or more
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$9.00 |
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Foreign ATM Fee
Foreign ATM refers to all Non-Westbay Bank and Non-Money Pass ATMs
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$2.50 |
| Paper Statements |
$3.95 |
| eStatements |
Free |
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Transaction fees - first 75 Transactions per statement cycle
Transactions over 75 (each)
Transactions include: Deposits, Items deposit, ACH debits & credits, & checks paid.
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Free
$0.50
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If you close your account within three (3) months from the opening date, an Early Closing fee of $10.00 will be assessed.
Please refer to our Customer Accommodation Service Fee Schedule for a listing of other fees that may apply to your account.
Checks/Withdrawals are subject to our Check Clearing Policy. No checks of any kind are cashed for Non-customers.
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Business Interest Checking
Opening Eligibility: To open this account, you must be 18 years of age and deposit at least $100.00.
Charges
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Monthly Maintenance Fee
The Monthly Maintenance Fee will be waived if your Average Balance is $10,000.00 or more
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$20.00 |
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Transaction fee the first 150 Transactions per statement cycle
Transactions over 150 (each)
Transactions include: Deposits, item deposited, ACH debits and credits, & checks paid.
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Free
$0.50
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Foreign ATM Fees
Foreign ATM refers to all non-Westbay Bank and non-Money Pass ATMs.
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$2.50 |
If you close your account within three (3) months from the opening date, an Early Closing fee of $10.00 will be assessed.
Please refer to our Customer Accommodation Service Fee Schedule for a listing of other fees that may apply to your account.
Checks/Withdrawals are subject to our Check Clearing Policy. No checks of any kind are cashed for Non-customers.
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Business Not-for-Profit Checking
Schools, Churches, Girl and Boy Scout Troops, PTAs and other non-profit organizations can benefit from this account that has no minimum balance requirements.
Opening Eligibility: To open this account, you must be 18 years of age and deposit at least $1,000.00.
Charges
| Monthly Maintenance Fee |
$2.50 |
If you close your account within three (3) months from the opening date, an Early Closing fee of $10.00 will be assessed.
Please refer to our Customer Accommodation Service Fee Schedule for a listing of other fees that may apply to your account.
Checks/Withdrawals are subject to our Check Clearing Policy. No checks of any kind are cashed for Non-customers.
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Business Real Estate Escrow Money Market
Opening Eligibility: To open this account, you must be 18 years of age and deposit at least $1,000.00.
Charges
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Monthly Maintenance Fee
If Minimum Daily Balance is less than $1,000.00
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$15.00 |
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Checks/ Items Deposited Over 40 (each)
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$0.25 |
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Third Party Withdrawals Over 6 (each)
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$15.00 |
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Negative Collected Balance Usage Fee
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Prime Rate Plus 2% |
If you close your account within three (3) months from the opening date, an Early Closing fee of $10.00 will be assessed.
Please refer to our Customer Accommodation Service Fee Schedule for a listing of other fees that may apply to your account.
Checks/Withdrawals are subject to our Check Clearing Policy. No checks of any kind are cashed for Non-customers.
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Business Money Market
To make the most of your investment, a Money Market account is a good "savings" choice. This account offers tiered interest rates that allows you to earn more as you save more.
Opening Eligibility: To open this account, you must be 18 years of age and deposit at least $2,500.00.
Charges
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Monthly Maintenance Fee
If Minimum Daily Balance is less than $2,500.00
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$15.00 |
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Checks/ Items Deposited Over 40 (each)
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$0.25 |
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Third Party Withdrawals Over 6 (each)
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$15.00 |
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Under transaction limit fee (each)
Each Third Party Withdrawal must be for $500.00 or more
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$15.00 |
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Negative Collected Balance Usage Fee
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Prime Rate Plus 2% |
If you close your account within three (3) months from the opening date, an Early Closing fee of $10.00 will be assessed.
Please refer to our Customer Accommodation Service Fee Schedule for a listing of other fees that may apply to your account.
Checks/Withdrawals are subject to our Check Clearing Policy. No checks of any kind are cashed for Non-customers.
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Interest on Lawyer Trust Account (IOLTA)
Opening Eligibility: To open this account, you must be 18 years of age and deposit at least $1,500.00.
This is a Variable Rate account, we may change the Interest Rate at any time. If your daily Ledger Balance is under $2,500.00, no interest will be accrued for that day. If you close your account before the accrued interest has been credited, you will not receive the accrued interest.
Charges
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Monthly Maintenance Fee
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$5.00 |
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Deposits (each)
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$0.25 |
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Checks/ Items Deposited
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$0.15 |
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Cash Deposited per $100.00
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$0.10 |
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Checks Paid (each)
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$0.15 |
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Negative Collected Balance Usage Fee
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Prime Rate Plus 2% |
Service fees are never charged to the account. It's offset by the account's earned interest. If there is not enough earned interest to offset the service fee, the unsettled fee is waived.
If you close your account within three (3) months from the opening date, an Early Closing fee of $10.00 will be assessed.
Please refer to our Customer Accommodation Service Fee Schedule for a listing of other fees that may apply to your account.
Checks/Withdrawals are subject to our Check Clearing Policy. No checks of any kind are cashed for Non-customers.
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