Martha's Vineyard Savings Bank

Business Banking

Checking

Account Type Your Needs
Smart Business Checking Account Whether you have a year-round or seasonal business, we've tailored this account to be economical and simple.  Plus it has all the features and benefits you need to help your business succeed!
Business NOW Account Qualifying sole proprietorships and nonprofit organizations can take advantage of this interest-bearing account, plus get all the benefits of a Smart Business Checking Account.

 

Features, Benefits &
Services
Smart Business 
Checking Account
Business NOW 
Account
Online Banking  Yes Yes
Online Billpay Yes Yes
24 Hour Telephone 
Banking
Free Free
ATM/Debit Card* Yes Yes
eStatements  Yes Yes
Mobile Banking Yes Yes
Minimum to 
Open Account
 $10.00 $10.00
Monthly Minimum
Balance Fee
If average monthly balance
falls below $200.00, a withdrawal
fee of $0.15 per item will 
be assessed.
If average monthly balance
falls below $200.00, a withdrawal
fee of $0.15 per item will 
be assessed.
Non-MVSB ATM Withdrawals* $1.00 each   $1.00 each
Overdraft Protection 
Service**
Optional Optional
 

* This service does not include the surcharges imposed by some non-MVSB ATMs.  However, these can be avoided by using any of the 5,200 ATMs participating in the SUM program. MVSB card activity charges are subsequently refunded if withdrawals are transacted at a participating SUM ATM.
**Overdraft protection available from lines of credit (subject to credit approval), checking and money market accounts.

Savings

Account Type Your Needs
Business Statement Savings Account Start building your savings by putting your business assets in an FDIC insured account where they can earn interest until you need them.
Business Money Market Account Maximize returns without losing checking privileges with the Business Money Market Account. Tiered interest rates ensure that the higher your balance goes, the higher your rate of return is.
If you're looking to put your unused assets to work while maintaining liquidity, this is the perfect solution.
Business Clipper Ship Money Market Account Because we believe in offering our customers more for their money, we have created our Clipper Ship Investment Checking Account, a multi-level, variable rate interest-bearing account. 
With an initial deposit of $100,000, you can qualify for a Clipper Ship Account with the benefit of higher rates for higher balances.
Business Sweep Money Market Account Lessen the time and effort associated with manually managing your business bank accounts with the Safe & Sound Money Market Sweeps Service and convert non-interest earning balances into interest earning balances automatically.
Certificate of Deposit {CD} With terms ranging from 3 months to 5 years and a guaranteed fixed rate of interest, Certificates of Deposit let you sit back and relax, giving you peace of mind knowing that you're money is working for you and your business. You also have the option of having your monthly earnings automatically deposited to an existing checking or savings account or mailed directly to you. 

 

Features, Benefits &
Services
Business Statement
Savings Account 
Business Money 
Market Account
Business Clipper Ship
Money Market Account
Business Sweep
Money Market Account
Certificate of
Deposit {CD}
Online Banking  Yes  Yes  Yes Yes  Yes
24 Hour Telephone
Banking
Free  Free  Free Free  Free
Mobile Banking Yes Yes Yes Yes Yes
eStatements  Yes Yes  Yes  Yes  Yes
Minimum to 
Open Account
 $10.00 $2,500.00  $100,000.00  $2,500.00  $1,000.00
Monthly Minimum
Balance Fee
None  None  None Monthly fee of $50.00
or $5.00 per transfer
 None
ATM/Debit Card* Yes Yes Yes Yes n/a
Non-MVSB ATM Withdrawals* $1.00 each   $1.00 each  $1.00 each  $1.00 each  n/a
 

* This service does not include the surcharges imposed by some non-MVSB ATMs.  However, these can be avoided by using any of the 5,200 ATMs participating in the SUM program. MVSB card activity charges are subsequently refunded if withdrawals are transacted at a participating SUM ATM.

View our Business Account Rates

 

Safe & Sound Money Market Sweeps Service
Safe & Sound Money Market Sweeps Service combines the convenience of a Business Checking account with the interest bearing benefit of a Business Sweep Money Market account.  Features and benefits include:

  • Convert non-interest earning balances into interest earning balances automatically.
  • Lessen the time and effort associated with manually managing your business bank accounts, freeing you and your staff to focus on other business priorities.
  • Earn a Business Sweep Money Market Account rate of interest on excess funds without having to meet large investment minimums.

 

Government Banking
The Martha’s Vineyard Savings Bank Government Banking Account is a premium interest-bearing checking account designed especially for municipalities, school districts, housing authorities, unions, retirement boards, and other state and local government entities. Unlike other banks, Martha’s Vineyard Savings Bank is offering its Government Banking Account free of service charges when the account’s daily minimum balance is greater than $200.

For more information on any of these products and services, please contact your local branch representative or give us a call at 1-508-627-4266.

Member FDIC
Depositors Insurance Fund
Equal Housing Lender
Surcharge-Free ATMs
REPORT A LOST OR STOLEN CARD
Touch to call a number below:
During normal business hours:
508-627-4266
Outside of normal business hours:
800-554-8969
REPORT A LOST OR STOLEN CARD
During normal business hours:
Call 508-627-4266
Outside of normal business hours:
Call 800-554-8969
Rates subject to change - Martha's Vineyard Savings Bank NMLS ID# 483244