Which business checking account is right for you?

FeatureinBusiness Free inBusiness ChoiceinBusiness PremiumNon-ProfitIOLTA & RAHF
Eligibility RequirementsIdeal for businesses with 100 or fewer monthly transactionsIdeal for businesses with larger balances and transaction activityIdeal for businesses that maintain a $7,500 monthly average available balanceFor Non-ProfitsFor Lawyers and Realtors
Minimum to Open$25$25$25$25$25
Monthly Maintenance Fee / Minimum Balance to Avoid Monthly Maintenance FeeNo monthly maintenance fee$6
An earnings credit that is based on your average collected balance may offset this monthly fee
$15
If you maintain a $7500 monthly average available balance, the maintenance fee will be waived.
No monthly maintenance feeNo monthly maintenance fee
Transactions per MonthNo charge for the first 100 transactions debited or credited (deposits, check items deposited, checks cleared, ATM, point of sale and ACH) per statement cycleN/ANo charge for the first 600 transactions debited or credited (deposits, check items deposited, checks cleared, ATM, point of sale and ACH) per statement cycle.UnlimitedUnlimited
Other FeesAdditional transactions (over 100) are $0.50 eachA $0.12 fee will be charged for each deposited item and $0.16 per check cleared and/or ACH debit/credit fee will be charged per statement cycle.Additional transactions (over 600) will be charged $0.35 each.N/AN/A
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inBusiness Free
A business checking account with no fees or minimum balance

Features

Eligibility RequirementsIdeal for businesses with 100 or fewer monthly transactions
Minimum to Open$25
Monthly Maintenance Fee / Minimum Balance to Avoid Monthly Maintenance FeeNo monthly maintenance fee
Transactions per MonthNo charge for the first 100 transactions debited or credited (deposits, check items deposited, checks cleared, ATM, point of sale and ACH) per statement cycle
Other FeesAdditional transactions (over 100) are $0.50 each
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Benefits and More

  • No minimum balance
  • No monthly fees
  • No annual fee inBusiness Debit Card
  • 24 branch locations with 24-hour ATM access throughout the region
  • Sophisticated business banking expertise from people you know and trust
  • Convenient e-Statements
inBusiness Choice
Designed for businesses that have higher transaction volumes

Features

Eligibility RequirementsIdeal for businesses with larger balances and transaction activity
Minimum to Open$25
Monthly Maintenance Fee / Minimum Balance to Avoid Monthly Maintenance Fee$6
An earnings credit that is based on your average collected balance may offset this monthly fee
Transactions per MonthN/A
Other FeesA $0.12 fee will be charged for each deposited item and $0.16 per check cleared and/or ACH debit/credit fee will be charged per statement cycle.
MoreView

Benefits and More

  • No minimum balance
  • Low monthly maintenance fee
  • Earnings Credit at competitive rates
  • No annual fee inBusiness Debit Card
  • 24 branch locations with 24-hour ATM access throughout the region
  • Sophisticated business banking expertise from people you know and trust
  • Convenient e-Statements
inBusiness Premium
For businesses that maintain a monthly average available balance of $7,500

Features

Eligibility RequirementsIdeal for businesses that maintain a $7,500 monthly average available balance
Minimum to Open$25
Monthly Maintenance Fee / Minimum Balance to Avoid Monthly Maintenance Fee$15
If you maintain a $7500 monthly average available balance, the maintenance fee will be waived.
Transactions per MonthNo charge for the first 600 transactions debited or credited (deposits, check items deposited, checks cleared, ATM, point of sale and ACH) per statement cycle.
Other FeesAdditional transactions (over 600) will be charged $0.35 each.
MoreView

Benefits and More

  • No monthly maintenance fee
  • No-fee official checks and money orders
  • Reimbursement for your first order of business checks up to $150
  • No annual fee inBusiness Debit Card
  • 24 branch locations with 24-hour ATM access throughout the region
  • Sophisticated business banking expertise from people you know and trust
  • Convenient e-Statements
Non-Profit
For non-profit organizations

Features

Eligibility RequirementsFor Non-Profits
Minimum to Open$25
Monthly Maintenance Fee / Minimum Balance to Avoid Monthly Maintenance FeeNo monthly maintenance fee
Transactions per MonthUnlimited
Other FeesN/A
MoreView

Benefits and More

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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
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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.
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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.

How to open 

Send an email, call, or visit, to open a Non-Profit account

[email protected]

1.888.725.2207

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.

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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.

[email protected]

1.888.725.2207

To receive a current copy of Terms & Conditions related to your account, please contact Customer Care: 1.888.725.2207


NOR-Business-11

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.

[email protected]

1.888.725.2207

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 Mobile Solutions is not available for Ecorp clients