At Westfield Bank, we offer an array of business deposit account products designed to help businesses, municipalities, non-profits, and escrow managers meet their unique cash management challenges.
Choose from the following account types:
- Checking
- Savings
- Money Market
- Certificates of Deposit
- Sweep
- Zero Balance
- Escrow Management
Which accounts are right for you?
Business Accounts
| Account Type | Ideal For: |
|---|---|
| Small Business Checking | Businesses who process < 500 items per month |
| Commercial Checking | Businesses who process > 500 items per month |
| Business Money Market & Certificates of Deposit | Businesses seeking to maximize interest on excess deposit balances |
| Commercial Investment Sweep Account | Businesses who want to maximize earning potential by automatically transferring excess cash into an interest-bearing account |
| Zero Balance Account (ZBA) | Businesses looking for an easy way to manage multiple disbursement accounts such as payroll and accounts payable by drawing the exact amount of funds needed to pay disbursements automatically from the main account to the ZBA account(s) |
Government Accounts
| Account Type | Ideal For: |
|---|---|
| Government Basic Checking | Municipalities who process < 500 items per month |
| Government Checking | Municipalities who process > 500 items per month |
| Government Interest Checking | Municipalities who process < 500 items per month and who want to earn interest |
| Government Money Market & Certificates of Deposit | Municipalities seeking to maximize interest on excess deposit balances |
| Commercial Investment Sweep Account | Municipalities who want to maximize earning potential by automatically transferring excess cash into an interest-bearing account |
| Zero Balance Account (ZBA) | Municipalities looking for an easy way to manage multiple disbursement accounts such as payroll and accounts payable by drawing the exact amount of funds needed to pay disbursements automatically from the main account to the ZBA account(s) |
Non-profit Accounts
| Account Type | Ideal For: |
|---|---|
| Non-profit Basic Checking | Non-profits who process < 500 items per month |
| Non-profit Interest Checking | Non-profits who process < 500 items per month and who want to earn interest |
| Non-profit Checking | Non-profits who process > 500 items per month |
| Non-profit Money Market & Certificates of Deposit | Non-profits seeking to maximize interest on excess deposit balances |
| Commercial Investment Sweep Account | Non-profits who want to maximize earning potential by automatically transferring excess cash into an interest-bearing account |
| Zero Balance Account (ZBA) | Non-profits looking for an easy way to manage multiple disbursement accounts such as payroll and accounts payable by drawing the exact amount of funds needed to pay disbursements automatically from the main account to the ZBA account(s) |
Escrow Management Accounts
| Account Type | Ideal For: |
|---|---|
| Escrow Management Master Checking | Agents who manage escrow funds |
| Escrow Management Sub Savings | Interest bearing account with limit of 6 electronic withdrawals per month |
Managing escrow accounts can be a labor-intensive process for property management companies, assisted living facilities, nursing homes, and social service agencies.
Our Escrow Management accounts simplify that process by setting up a master checking account and separate sub savings accounts designed to hold clients’ escrowed funds. An easy-to-read monthly statement with custom naming is provided for each master and sub account, keeping things organized and providing a snapshot of all relevant account activity.