Which business checking account is right for you?
InBusiness Checking
When you’re in business, your checking account is the last thing you want to worry about. Norway Savings offers a line of business checking products that make finding the perfect fit easy.
Debit Cards
The perfect way to pay
Easier to use than checks, safer than cash, and no interest rate charges, Norway Savings Bank’s Business debit cards offer:
- Protection from fraud
- Protection from lost or stolen cards
- Fast and convenient transactions
- Hassle-free
- No need to show I.D. as with checks
Computer chips for safety
Norway Savings Bank issues business debit cards with an embedded computer chip, a small, metallic square on the front of the debit card. The computer chip assigns a one-time code making every transaction unique and the card more difficult to counterfeit or copy. The cards have a magnetic stripe in the event the merchant doesn’t have a chip reader.
Debit transactions with choice
Your business debit card can be used with either a PIN (Personal Identification Number) or signature. Both are popular, convenient, and versatile forms of payment. Please note that when using your PIN, your money will come out of your account immediately. When you use your signature, the transaction may take a day or two to clear, just like a check.
Surcharge-free access to cash
Use your Norway Savings Bank ATM/Business Debit Card surcharge-free at all Norway Savings branch locations. And don’t forget, you can get cash back from most point of sale terminals.
Safety tips
For business debit cards
- Memorize your PIN. Never store it with your card.
- Keep your receipts; you’ll need them to check your statement. If your account number is on them, tear up or shred receipts before throwing them away.
- Check your bank transactions online daily. Check your statements as soon as you receive them if you don’t bank online. Make sure all payments are yours.
- Contact Norway Savings Bank immediately if your card is lost, stolen, or fraudulently used. If you are a victim of debit card fraud, review our Security page.
For ATMs
- Keep your PIN number a secret. Never write it down or share it with anyone – not even family members.
- Be aware of your surroundings, particularly at night. Make sure the ATM is free of sight obstructions. If you observe suspicious persons or circumstances, do not use the machine.
- Have your ATM card ready and in your hand as you approach the ATM.
- Use your hand to “shield” the ATM keyboard as you enter your PIN.
- Always take your receipts or transaction records with you.
- Do not count or visually display any money you received from the ATM.
- Immediately put your money away and count it later.
- If you are using a drive-up ATM, be sure passenger windows are rolled up and all doors are locked. If you leave your car and walk to the ATM, lock your car.
- Be sure to inspect the ATM for signs of skimming devices or tampering prior to inserting your card into the card reading slot.
Non-profit organizations
You’re working hard to do good things for Maine—and we want to help you do that. Our no minimum balance, no monthly maintenance fee checking is for you. Open a Norway Savings Non-Profit Checking account with just a $25 deposit2. Enjoy no monthly maintenance or per check fees.
- Access online with no-fee inBusiness Internet Banking, NSB Mobile 3 or TeleBanker
- Receive convenient e-Statements
- No annual fee Norway Savings Debit Card
- 24 branch locations with 24-hour ATM access
- Sophisticated business banking expertise from people you know and trust
How to open
Send an email, call, or visit, to open a Non-Profit account
To receive a current copy of Terms & Conditions related to your account, please contact Customer Care: 1.888.725.2207
IOLTA accounts
Under the Interest on Lawyer Trust Accounts (IOLTA) program, we offer interest-bearing checking accounts for lawyers’ trust accounts. The monthly maintenance fee is waived for IOLTA accounts and interest earned is transferred to the Maine Bar Foundation (MBF), which is used for various charitable legal services.
How to open
Send an email, call, or visit, to open an IOLTA account. A minimum $25 deposit is required to open an IOLTA account.
To receive a current copy of Terms & Conditions related to your account, please contact Customer Care: 1.888.725.2207
RAHF accounts
The Maine Association of Realtors created a non-profit foundation to address the need for affordable housing in Maine. Under the Realtor’s Affordable Housing Fund (RAHF), we offer interest-bearing checking accounts for realtor trust accounts participating in the RAHF program. The monthly maintenance fee is waived for RAHF accounts and the interest earned is transferred to the Maine Association of Realtors Foundation Affordable Housing Fund.
How to open
Send an email, call, or visit, to open a RAHF account. A minimum $25 deposit is required to open a RAHF account.
To receive a current copy of Terms & Conditions related to your account, please contact Customer Care: 1.888.725.2207
1 Opening business accounts requires specific business documents. As of May 11, 2018, all banks are subject to the Beneficial Ownership rule under the Bank Secrecy Act requiring us to gather more information from business entities than we have in the past when opening new accounts and when certain changes to existing accounts are made. To make sure you have everything you need at account opening, please call 888.725.2207 or visit your local branch.
2 A deposit of $25 is required to open a Norway Non-Profit checking account.
3 NSB Mobile is not currently available for Business Online clients
