Business Checking
Our business checking has no minimum balance requirement and can be established with as little as $25. The account allows you to write as many checks as you want each month and make as many deposits as you want. NO MONTHLY SERVICE CHARGE!
Business Money Market Checking
For our business customers who have limited check writing needs and want to earn as much interest as possible on their funds. This account offers you the flexibility of check writing and the benefit of savings all wrapped up in one great account. Earnings will increase with our tiered rates, the more on deposit; the higher the return. Interest is compounded daily and credited monthly. This account offers a low minimum balance requirement of $2,500.00 to avoid a $10.00 monthly service fee. Fees may reduce earnings on the account. Interest is compounded daily and credited monthly.
Rates are current as of 2/16/2012
| Type | Interest Rate | APY* | Minimum Balance to Obtain APY* | Additional Info |
|---|---|---|---|---|
| $100 to $2,499.99 | 0.200 | 0.200 | $100 | Money Market - $100 Initial Deposit - Tiered Interest Rates - If Daily Balance Falls Below $1000 - $10.00 Fee |
| $2,500 to $14,999.99 | 0.350 | 0.350 | $2,500 | Money Market - $100 Initial Deposit - Tiered Interest Rates - If Daily Balance Falls Below $1000 - $10.00 Fee |
| $15,000 to $24,999.99 | 0.500 | 0.500 | $15,000 | Money Market - $100 Initial Deposit - Tiered Interest Rates - If Daily Balance Falls Below $1000 - $10.00 Fee |
| $25,000 to $49,999.99 | 0.550 | 0.550 | $25,000 | Money Market - $100 Initial Deposit - Tiered Interest Rates - If Daily Balance Falls Below $1000 - $10.00 Fee |
| $50,000 or More | 0.600 | 0.600 | $50,000 | Money Market - $100 Initial Deposit - Tiered Interest Rates - If Daily Balance Falls Below $1000 - $10.00 Fee |
Merchant Remote Capture
Enjoy even more banking convenience from the comfort of your office with Merchant Remote Capture electronic processing. Merchant Remote Capture allows you to capture money orders, consumer checks, cashier checks and corporate checks electronically, as well as credit your Bogota Business account with the proceeds the very next business day. You can save time and money with Merchant Remote Capture and concentrate on other productive tasks that help your business grow.
Business Savings
We pay our business accounts the same rate of interest as our personal accounts. Start saving today to have some emergency cash, just in case some unexpected expenses come up.
Trust, Escrow and Rent Security Accounts
We make it easy for attorneys and property managers to establish these accounts. These account types are designed to minimize your administrative time and maximize earnings.
IOLTA – Interest and Lawyer Trust Account (IOLTA)
The IOLTA Fund of the Bar of New Jersey was created by the supreme court of New Jersey in 1988 by the enactment of rule 1:28-A. the purpose of this fund is to provide funding for civil legal services for the poor, projects to improve the administration of Justice, and education of lay persons in law related areas.
Rule 1:28-A allows attorneys to convert non-interest bearing attorney trust accounts to earn interest, which is then remitted by Bogota Savings Bank directly to the IOLTA fund. This checking account has a minimum balance of $100.00 to open. Interest will accrue on all balance and will be sent to the NJ Iolta Board on a monthly basis.
Merchant Services
We offer our business customers the ability to accept most major credit and debit cards, including MasterCard, Visa, American Express, Discover and Diners Club. The funds are electronically transferred to your business checking account. Most deposits are available to you by the second business day after processing.
Business Credit Cards
We offer our business customers a business credit card in the business name where you determine who has authorized use of the card and for how much. Your business can also receive rewards for all purchases with certain card types.
Business Online Banking
We offer you the opportunity to view all your business accounts on-line and transfer funds between Bogota Savings Bank Accounts and pay bills. This is a convenient, safe and secure way to manage your business account.
Telephone Banking
We offer you the opportunity to transfer funds between Bogota Savings Bank Accounts and to find out the balance and last transactions made on your account.
Safe Deposit Boxes
Our Teaneck office has Safe Deposit Boxes available for all of your sensitive documents.
Certificates of Deposit
We offer our business customers the same great rates and terms as our personal customers.
Commercial Mortgages
Looking to purchase or refinance a commercial piece of property i.e., retail space, mixed use property, professional offices, multifamily properties, let one of our loan specialists work with you to come up with a financing package that is made to suit your needs.
Real Estate Secured Small Business Credit Lines
Need flexibility that you are in control of? Use your commercial real estate or your residence to receive a line of credit for your small business.
