business banking

Bancroft State Bank knows business banking. We are here to help you select the services you need at reasonable prices.

Each of our business accounts can be tailored to meet the specific needs of your company. Take a few minutes and allow our branch team to review your deposit, lending, and transaction needs and we’ll set up the accounts and services you’ll need to accomplish your goals. We listen and respond.

If you are fee sensitive, we’ll build your accounts around an analysis product to minimize fees; if you are rate sensitive, we’ll focus on return on investment. And if you’re both, we’ll structure a package that delivers the services you need at a price you can afford.

 

Business NOW Account:

This account is not available to Corporations, Limited Liability Companies, or Partnerships.
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Business Checking Account:

* There is a $.10 charge per check or debit paid
* There is a monthly maintenance charge of $6.00
* Deposit up to 100 checks per statement cycle with no charge ($.05 charge per check deposited over 100)
* There is a $3.50 charge per check deposited if the check is from a bank outside the USA.
* Receive copies of your cancelled checks back free of charge

To receive no fee checking, see maintenance free checking options.

Bancroft State Bank Budget Checking:

This account is open to business or personal accounts. You do not have to worry about maintaining balances.

* No Minimum Balance
* $3.00 charge per statement cycle
* Limit 10 checks per statement
($.50 per checks over 10)
* Receive copies of your cancelled checks back free of charge

Bancroft State Bank e-Checking:

* There is no charge per check or debit paid
* There is no monthly maintenance charge
* You receive your statement by e-mail whenever you want
* Your check payment is processed securely with the etelcharge echecks network
* Copies of your cancelled checks are safe kept at the bank
* There is a $3.50 charge per check deposited if the check is from a bank outside the USA.

Bancroft State Bank Maintenance Free Checking:

* Unlimited check writing with no per check charge
* No monthly maintenance charge
* No deposit charges
* Free currency and coin orders (up to $10,000 weekly)
* Receive copies of your cancelled checks back free of charge

Please notify us if any of these apply. Limited to one.

Maintain a minimum daily collected balance of the following to receive maintenance FREE checking:

* $2,000 in a business checking account
* $5,000.00 in a business certificate of deposit
* $5,000.00 in a business money market account
* $2,000.00 in a business savings account

Certificate of Deposit:

Bancroft State Bank offers a variety of Certificates of Deposit with a variety of maturities. These Certificates bear interest at a fixed interest rate and have a definite maturity date. If we permit a withdrawal of funds from a Certificate before its maturity date, we may impose a substantial penalty. Minimum opening deposit is $500.00.

* Maturities from 3 months to 4 years
* Interest can compound monthly, quarterly, semi-annually or annually
* Interest can be paid by adding to the certificate, paid by check or paid to an account
* Minimum opening deposit of $500.00

Contact us for more information about these accounts and for current interest rates.

We reserve the right to accept only deposits from our local area

Business Money Market Account:

We offer a money market account designed for small businesses that maintain higher balances.
More details >>>

Non-Profit / Organization Account

* A non profit tax identification number is required
* No minimum balance
* No monthly service charge
* Unlimited check writing
* Free currency and coin orders
* Free use of cash/coin boxes for fundraising events

We are an independent locally owned bank dedicated to serving our local community. If you need help in your fund raising activities, please contact any of our employees.

Bancroft State Bank offers ULTIMATE Checking, PLUS Checking and CLUB Checking Options :

ULTIMATE Checking: This checking is ideal for anyone who wants to combine the advantages of unlimited check writing privileges and free services. You qualify for this account is you maintain a $2,500.00 or more average quarterly balance in a savings account, $2,500.00 average daily balance in a certificate of deposit, or $20,000.00 or more balance on a Bancroft State Bank real estate loan. The minimum balance to open this account is $50.00.
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PLUS Checking: This checking account is ideal for anyone who prefers unlimited check writing privileges. You qualify for this account if you maintain a $1,000.00 or more average quarterly balance in a savings account, $1,000.00 average daily balance in a certificate of deposit, or $10,000.00 or more balance on a Bancroft State Bank real estate loan. The minimum balance to open this account is $50.00.
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CLUB Checking: This checking account is ideal for anyone who prefers unlimited check writing privileges without having to worry about maintaining balances. The minimum balance to open this account is $50.00.

The monthly fee to join the CLUB is $8.00
More details >>>

Merchant Services

We offer credit card processing services to retail, wholesale, mail/phone order, and ecommere businesses. Because our systems and infrastructure are flexible we can offer custom-made programs for any business category. We will help add convenience and value to your customers while bringing savings and ease-of-use directly to your business.

With merchant services, you can accept credit cards from all major credit card issuers. Additionally, our merchant account services are better than competitively priced.

There are several equipment options including just using your phone!

Need to apply for a Credit Card Merchant account? Click here to contact us for credit card services and low-cost merchant account services.

We can have your new or transferred account approved within 2 to 3 days. You're on the way to making your business more profitable and convenient.

We have many solutions to offer you. If a custom merchant service solution is required, we will recommend the optimal solution for your business.

services:

*APY-represents Annual Percentage Yield based on when earnings are paid on the account. The listed APY assumes interest stays on deposit until maturity. Any withdrawal will reduce earnings. Fees could reduce earnings. If you close your account before interest is credited in non-emergencies, you will not receive accrued interest. Average Daily Balance method applied a periodic rate to the average daily balance in the account for the period. The method is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. The period we use is a month unless otherwise stated. Interest rates are determined at the bank's discretion and may change on any given day. All interest rates effective as of today's date.