Deposit Products
We've got the services your business needs to succeed in your day-to-day financial operations. From our interest bearing business NOW accout, to merchant credit card services, to a night depository, we're in business for your business.
Business Advantage Checking
Business Advantage Checking rewards you for your account relationship by offering maximim flexibility and attractive benefits. Combine your business deposit and loan balances to qualify for:
- 200 Free Transactions Monthly
- Free Personal Advantage Plus Package for business owners
- Free nVantage Online Banking
- Free Checking for Employees
- With $20,000 in combined business deposit and loan balances, the monthly fee can be waived.
Business Checking
Our basic non-interest bearing checking account is ideal for customers with low monthly checking account activity, offering:
- Free nVantage Online Banking
- Free Money Market Account
- Free ATM/Debit MasterCard
Because we have been a part of our community's growth and expansion for over a century, we know the kinds of financial services our local business people need and want.
Norwood Community Business Checking is the right account for your business needs at community bank prices.
IOLTA (Interest on Lawyers' Trust Accounts)
We are pleased to participate in the Massachusetts IOLTA (Interest on Lawyers' Trust Accounts) program.
Our IOLTA program enables lawyers and law firms to establish interest-bearing accounts for client deposits which are nominal in amount or expected to be short term.
Some examples of the types of funds in IOLTA accounts are real estate deposits and closings, personal injury awards, and litigation settlements.
We remit all interest generated from client accounts to the Massachusetts IOLTA Committee where it is further distributed into three charitable entities: The Boston Bar Foundation, The Massachusetts Bar Foundation and The Massachusetts Legal Assistance Corporation. These organizations then make the funds available to individuals in need of various legal services.
Merchant Credit Cards
Norwood Bank is able to match the credit card acceptance capabilities of any large bank, through our alliance with EFS National Bank, our processor.
Our business services representatives assure that your local card acceptance program meets the needs of your business precisely. We can authorize and data capture all MasterCard®, Visa, American Express®, Diner's Club®, and Discover® transactions. AMEX, Diner's Club and Discover will quote a discount rate and settle funds directly to you.
Also, our services include Direct Debit (for purchases with ATM cards), and the SCAN check verification service and the National Recovery Corporation (NRC) for recovery purposes.
Night Depository
Enjoy the peace of mind of knowing that your receipts are off-premise and safe.
Our night depository locations are convenient and well-lit, and are available for use by your business 24 hours a day. Deposits are processed daily from Monday through Saturday. Free disposable night bags are provided.
