Business Accounts

At Providence Bank, we know that listening to our customers is the first step in helping them better manage their money and their lives. Our business banking products offer features and benefits designed to achieve your financial goals. We’ve made sure that each of our financial offerings are as simple to understand as they are easy to use. It’s all part of our commitment to one-on-one relationships and exceptional service at every level. Let us show you what it feels like to bank with people you know and trust.

 

Checking Accounts

Business Analysis Checking

  • $1,000 minimum opening deposit
  • $15 monthly service charge
  • $0.30 per credit/deposit
  • $0.10 per $100 cash deposits
  • $0.15 checks paid/debit items
  • $0.10 items deposited
  • Earnings credit is used to offset analysis activity charges monthly*
  • Free online banking
  • Free business debit MasterCard (approval required)
  • Imaged monthly statement

Small Business Checking

  • $1,000 minimum opening deposit
  • $10 monthly service charge; service charge can be avoided by maintaining a $1,500 minimum daily ledger balance or by maintaining a $2,500 average monthly ledger balance
  • Free online banking
  • Free business debit MasterCard (approval required)
  • Imaged monthly statement

Business Interest Checking

  • $1,000 minimum opening deposit
  • Interest is calculated and compounded daily on the collected balance and credited to your account monthly. Minimum daily collected balance of $1,500 required to earn interest.
  • $10 monthly service charge; service charge can be avoided by maintaining a $1,500 minimum daily ledger balance or by maintaining a $2,500 average monthly ledger balance
  • Free first 200 combined credit/debit items per month; $0.20 per credit/debit in excess of 200
  • Free online banking
  • Free business debit MasterCard (approval required)
  • Imaged monthly statement

We want to be sure you choose the right account for your specific needs! We an option that fits into every lifestyle. View our accounts in a comparison chart.

Commercial Money Market Account

  • $1,500 minimum deposit to open
  • Tiered interest rate structure. Interest is calculated and compounded daily on the collected balance and credited to your account monthly. Minimum daily collected balance of $1,500 required to earn interest
  • $15 monthly service charge; service charge can be avoided by maintaining a $2,500 minimum daily ledger balance or by maintaining a $5,000 average monthly ledger balance
  • Transfers are limited to six (6) per statement cycle by check or draft, and payable to a third party, and/or pre-authorized transactions; additional checks or drafts are $10.00 each, regardless of balance. If an account continuously exceeds the debit transactions allowed, we are required by law to reclassify or close the account
  • Free first order of personalized Providence Checks
  • Free online banking
  • Imaged monthly statement

* Monthly Service Charge and Balance Requirements -- Total monthly service charges and balance requirements to offset vary depending on transaction volumes and services utilized. Each month your Commercial Checking account is automatically reviewed to determine the service charge amount, if any. This review takes into account your transaction activity and services utilized as well as the balances kept in your account. Positive average collected balances, less reserves, are used to calculate an “earning credit” that may partially or fully offset your monthly service charges.

 

Traveling soon?
Purchase with Ease

Providence Bank’s Debit MasterCard is our debit card that can be used to make purchases worldwide – anywhere you see the MasterCard® logo! Use your card instead of writing a check and your purchases are deducted automatically from your checking account.

Learn About Our Debit MasterCard

 

Business Accounts Comparison Chart

AccountBusiness Analysis CheckingSmall Business CheckingBusiness Interest CheckingCommercial Money Market Account
Minimum Opening Deposit $1,000 $1,000 $1,000 $1,500
Service Charge $15 monthly $10 monthly if balance under $1,500 daily or $2,500 monthly $10 monthly if balance under $1,500 daily or $2,500 monthly $15 monthly if balance under $2,500 daily or $5,000 monthly
Interest N/A N/A Calculated and compounded daily and credited monthly with minimum balance of $1,500. Tiered structure. Calculated and compounded daily and credited monthly with minimum balance of $1,500.
Debits/Deposits

$0.0020 per $100 cash deposits, $0.15 checks paid/debit items, $0.10 items deposited*

N/A Free first 200 combined credit/debit items per month; $0.20 per credit/debit in excess of 200 Transfers limited to six (6) per statement cycle by check or draft, and payable to a third party, and/or pre-authorized transactions; additional checks or drafts are $10.00 each.**
Statements Imaged Monthly Imaged Monthly Imaged Monthly Imaged Monthly
Other Features
  • Free Online Banking
  • Free business debit MasterCard (approval required)
  • Free online banking
  • Free business debit MasterCard (approval required)
  • Free online banking
  • Free business debit MasterCard (approval required)
  • Free first order of personalized Providence Checks
  • Free online banking

 *Earnings credit is used to offset analysis activity charges monthly

**If an account continuously exceeds the debit transactions allowed, we are required by law to reclassify or close the account

 

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