Commercial
Commercial Deposit Products & Services
Commercial Banking
Southbridge Savings Bank offers a full line of commercial deposit products and services to meet your business needs. All balances are insured, without limitation,
by the FDIC and DIF. Account activity is detailed on monthly statements and through our Online Banking system.
Business Maker™ FREE Checking
Business Maker™ FREE Checking Account for Small Businesses!
Our Business Maker™ checking account has all the features of our Small Business checking account - except the fees! Can be accessed 24 hours a day with Online Banking.
- Up to 100 checks per month written – FREE
- $10 to open account
- First check order Free (Up to a $100 value)
- No minimum balance
- No monthly Service Fee
- No deposit fees
- Overdraft Protection
- Works with our Online Banking product
- Night Deposits available at many of our locations
- Must register for Bank ’N Pay service
- Easy to balance E-Statements
Business Checking Account
Ideal for a medium size business that write less than 150 checks per month
- Service fee of just $10 per month
- Fee is waived if a $5,000 average balance at month end is achieved
Commercial Checking
Corporate and non-corporate businesses that generate a high volume of checks and deposits will find our commercial checking account to be very competitive
- Earnings credit of 80% of the 91-Day T-Bill Rate (average of previous month)
- Service fee based on transaction volume
Commercial Statement Savings Account
This account provides all standard banking services with no monthly fees.
- Earns interest on balances over $.01*
- FREE telephone and internet banking
- FREE ATM card (must be linked to checking account for debit option)
- $10.00 minimum deposit required to open account
Commercial Tiered Statement Savings Account
With our tiered rate savings account, your business can earn more.
- Earns interest on balances over $500.00*
- FREE telephone and internet banking
- FREE ATM (must be linked to checking account for debit option)
- $14.95 monthly maintenance service charge is waived if average daily combined checking and savings balances is over $50,000.00
- $500.00 minimum to open account
Commercial Money Market Account
Our Commercial Money Market Account combines convenience and value.
- Higher interest rates1
- FREE ATM Card
- FREE internet banking
- Unlimited ATM withdrawals and transfers2
- Limit of 6 third party transactions (transfer and/or withdrawal) per monthly statement cycle. No more than 3 can be by check, draft or similar order
- $25.00 minimum to open account
1Higher tiered rate requires a minimum average balance of $5,000. Balance below minimum is subject to a lower rate. See rate schedule for current interest rates.
2Includes in-person withdrawals, transfer to Southbridge Savings Bank loans, transfer to another Southbridge Savings Bank deposit account, or withdrawal payable to you by mail, messenger, ATM, in person or by telephone
U.S. Treasury Tax & Loan
The easy way to make sure your taxes are paid on time. Just deposit your taxes at any of our branches and we'll do the rest.
Interest on Lawyers Trust Accounts (IOLTA)
An interest bearing account that will hold all of your escrow funds. Interest earned is forwarded to the IOLTA Committee.
Group Checking & Savings
Group Checking and Savings accounts for Non-Profits. These accounts do not have monthly service charges.
Wire Transfers and ACH Transactions
Whatever your requirements are, your company will benefit from our streamlined procedure, low-cost, and prompt service. These services can also be administered online through Business Bank N' PaySM.
SSB Investment Services - For more information click here |
Credit Card Processing Services
Services are provided through a local full service agent who understands the needs of community business owners. We offer the convenience of complete card processing services through point of sale terminals and services supplied by Verifone, Hypercom, Lipmann/Nurit and Telento. Our services include Debit Cards (NYCE®, MAC®, Interlink®, MAESTRO® ) and all other national credit cards (MasterCard®, Visa®, American Express®, Discover®, Diners®, JCB® ), and Gift & Loyalty Cards.
Business Bank 'N PaySM
Business Bank 'N Pay offers 24-hour access to all business accounts. Gain back lost employee productivity by eliminating monthly check writing and trips to the bank.
- Set-up single transfers, or establish a schedule of future automatic transfers
- Pay a bill once or set-up a recurring payment schedule
- Access your account securely from anywhere
- Process Wire Transfers & Stop Payments
- Easily export transactions to Quicken®
Business Check Card
The Business Check Card automates transactions
and helps to cut down on check writing
Remote Deposit Capture
Depositing checks right from your desktop is the hottest banking service available today. Remote Deposit Capture gives you the ability to deposit checks into your account directly from your office. Enjoy faster availability of your funds, later deposit cutoff times, and eliminate trips to the bank.
Lockbox Services
Great for small and large businesses alike. Payments can be sent to a Post Office Box where your mail is picked up, opened and sorted. Accounts receivable data is captured and checks are prepared for deposit.
Payroll Services
Our easy to use payroll processing is a complete start to finish payroll cycle:
- Payroll processing including checks printed, tax calculation, report generation, check signing and sealing
- Additional services include:
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- Tax Filing Service
- Direct Deposit
- Trust Account Banking
- Workers Compensation Calculation
- Third Party Vendor or Agency Checks
- Human Resource Database
- Export Filing
- Paperless Payroll
- Time Clock Interfaces
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