Northway Bank offers its customers a wide range of services. They are beneficial for personal, small business and large commercial entities. This financial institution’s history dates back 100 years. Today, it’s one of the largest independent banks in New Hampshire. It maintains 17 full-service financial centers in the central and northern portions of the state.
Personal financial options include checking accounts, CDs (Certificates of Deposit), savings accounts, loans, mobile and online account management, and investment services. The available personal checking accounts include Peak, True Rewards and True North. Peak accounts have no monthly fees, and require no minimum monthly balance. These account-holders have access to free online banking and bill-paying services, unlimited check-writing, free debit cards and overdraft protection plans. However, electronic statements are required for Peak accounts.
True Reward accounts have no monthly fees on accounts which maintain a minimum balance of 500 dollars. An alternative minimum balance of five-thousand dollars can be maintained through a combination of checking, savings, CDs, IRAs (Individual Retirement Accounts), home mortgages or consumer loans. Balances of one-thousand dollars or more earn interest. Local merchant coupons and rewards for electronic usage are among the other amenities of the True Reward account.
True North accounts earn bonus rates on savings, as well as interest on balances. Fees are waived based on combined relationship balances. A 25-thousand dollar minimum balance is required for these accounts. It can be maintained with any combination of residential mortgages, CDs, consumer loans, IRAs, savings and checking accounts. These accounts also feature free instant transfers from money markets or savings accounts in order to avoid over-drafts. These account-holders are not subject to any ATM fees within the United States.
The personal savings accounts include money markets and statement savings. Money markets feature guaranteed interest rates, with tiered rates applied to higher balances. There are no fees as long as a minimum balance of one-thousand dollars is maintained. Otherwise, there is an eight dollar monthly fee. A maximum of six checks can be written each month. Money markets can be linked to checking accounts to provide over-draft protection.
Statement savings accounts are ideal for those who keep smaller balances. An initial deposit of ten dollars is required. If the monthly balance does not fall below 100 dollars, there is no fee. Otherwise, there is a two dollar monthly fee.
Small business services include checking and savings accounts, loans and cash management products. Optional checking accounts include Free Business checking, Business Advantage, Business Advantage Premiere and Business NOW accounts. The business NOW accounts are designed to meet the needs of sole-proprietor and non-profit entities.
Cash management solutions include merchant services (allowing merchants to accept credit card payments), online account management, payroll services and ACH services. ACH services include paying suppliers and vendors one-time or on set recurring schedules, collecting payments from clients and depositing payroll checks directly into employee accounts. All these functions are performed electronically, and transaction records are automatically stored.
Northway Bank has been providing important products and services to clients in New Hampshire for a century. Their services are beneficial to small and large businesses, as well as individuals and families. More detailed information is available online.