Business Checking

At Jeff Bank, we take pride in offering an array of accounts to help find one that will suit your business needs.

Small Business Checking

With our Small Business Checking Account, the monthly service charge is waived for the first year. After the first year, a $10.00 service charge will be assessed for average balances below $1,500.00.

Features Details
Minimum Balance

After first year, average balance of $1,500.00

Service Charge

$10.00 per month after first year

Minimum Opening Deposit

$25.00

Transaction Fee

First 100 transactions per statement cycle, there is no transactions fee; each additional transaction is $0.15 (fifteen cents) per item charge

MasterCard Business Debit Card

Yes

Free Checks

Yes

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Business Checking

There is a monthly service charge of $7.00. The account holder is eligible for Business Select, a Personal Checking Account, with no monthly service charge offered only to individuals who open and maintain a Business Checking Account.

Features Details
Minimum Balance

-

Service Charge

$7.00

Minimum Opening Deposit

$25.00

Transaction Fee

$0.10 (ten cents) per check issued

$0.15 (fifteen cents) per physical item processed (deposits and checks deposited)

MasterCard Business Debit Card

Yes

Checks

Yes

Additional Information

An earnings credit on the average daily balance will be applied to reduce or eliminate charges.

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Business Sweep Checking

Our Business Sweep Accounts are interest-bearing accounts that do not require a minimum opening balance. There is no transaction fee or monthly service charge. To be eligible for this account, you must have or open and maintain a Business Checking Account.

Features Benefits
Minimum Balance

-

Service Charge

-

Minimum Opening Deposit

-

MasterCard Business Debit Card

-

Free Checks

-

Additional Information

Each night balances are swept between your Business Checking Account and this interest bearing checking account. The automation keeps your Business Checking Account at a predetermined target balance set by you. Debit card and checks will not be issued for this account.

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Super NOW Checking

Super NOW is an interest-bearing account. If the daily balance falls below $2,500.00, a monthly service charge of $15.00 will be assessed at statement date.

Features Details
Minimum Balance

Daily Balance of $2,500.00 or more

Service Charge

$15.00

Minimum Opening Deposit

$2,500.00

MasterCard Business Debit Card

Yes

Free Checks

Yes

Additional Information

For Non-Incorporated Businesses, Sole Proprietors, and Non-Profit Companies

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Interest on Lawyer Account (IOLA)

Interest on Lawyer Account (IOLA) Accounts are interest-bearing accounts and for Lawyer’s escrow money only. There is a service charge of $10.00 that will be deducted from the interest earned before remittance to New York State on a monthly basis.

Features Details
Minimum Balance

-

Service Charge

$10.00

Minimum Opening Deposit

$25.00

Transaction Fee

-

MasterCard Business Debit Card

-

Free Checks

Yes

Additional Information

For lawyers escrow money only

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Estate Checking

To avoid a $5.00 monthly service charge, you must maintain an average balance of $500.00 or more.

Features Details
Minimum Balance

Average Balance of $500.00 or more

Service Charge

$5.00

Minimum Opening Deposit

$25.00

Transaction Fee

-

Debit Card

-

Checks

Yes

Additional Requirements

Opened by the executor or executrix by court order for the benefit of a deceased person’s estate.

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Non-Profit Checking

Our Non-Profit Checking Accounts are for but not limited to: religious groups, Girl/Boy Scouts, libraries and various non-profit organizations. There is no minimum balance, service charge, or per check charge.

Features Details
Minimum Balance

-

Service Charge

-

Minimum Opening Deposit

$25.00

Transaction Fee

-

MasterCard Business Debit Card

Yes

Free Checks

Yes

Additional Information

This account is for but not limited to, Religious Groups, Boy/Girl Scouts, Libraries, and various Non-Profit Organizations.

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