Business
Some Mansfield Bank business accounts will change and will automatically transition to a new Bluestone Bank account. We are confident you'll enjoy the great benefits the new accounts offer.
Feb 15 - Your Mansfield Bank accounts will automatically transition to the following accounts:
Business Checking Accounts
| If your Mansfield Account is: | Your New Bluestone Account Will Be: |
|---|---|
|
Free Business Checking |
Freedom Business Checking1 |
|
Community Checking |
Non-Profit Checking |
Commercial Checking |
Commercial Checking2 |
IOLTA |
IOLTA |
18/65 Checking (65 and over) |
Free Checking for Seniors |
Attorney Conveyance |
Freedom Business Checking1 |
Business Checking Plus |
Business Checking3 |
Business Checking – If your business accounts see a high volume of monthly activity, Business Checking could be your best bet. This popular option includes 500 items per statement cycle.
Commercial Checking – Unlimited withdrawals. A low monthly fee. And no minimum balance requirement. Just three reasons our Commercial Checking account makes sense for active businesses.
Freedom Business Checking – Just like the name implies, this business checking account gives you the freedom of no minimum balances requirements and includes 300 items per statement cycle
IOLTA – IOLTA Checking Accounts are accounts designed for Attorneys to escrow client funds for short-term use, for example real estate closings and personal injury settlements. IOLTA Checking Accounts are interest-bearing and all interest is remitted to the Massachusetts IOLTA Committee.
Non-Profit Checking – We’re committed to supporting local communities. Ideal for your unique banking needs a Non-Profit Checking account offers no monthly service or balance fees with a minimum opening balance for community groups.
Note: After the banking upgrade is complete, your Freedom Business Checking and your Business Checking account’s monthly service charge will be waived for the first three months. During that time, you should evaluate our different checking and savings account options and determine whether we have an account that better fits your needs.
If you prefer to switch accounts, visit your local branch of call the Contact Center at 800.356.8622 or 508.884.3300 after the banking upgrade is complete and we will be happy to move you to the account of your choice.
1 Includes 300 checks paid and/or deposited items. Additional checks paid and/or deposited items are $0.35 each.
2 Monthly service charge of $12.50. Fees include $0.75 for deposits per transaction, $0.18 for checks paid (per check), and $0.15 deposited item fee (each). Available balances earn credit toward the monthly service charge.
3 Monthly service charge of $20, includes 500 checks paid and/or deposited items. Additional checks paid and/or deposited items are $0.35 cents each. Maintain a minimum balance of $10,000 or more and we will waive the $20 monthly service charge.
4 Average balance is based on the last 12 months.
Business Savings and Money Market Accounts
| If your Mansfield Account is: | Your New Bluestone Account Will Be: |
|---|---|
|
Tenant Savings |
Statement Savings |
|
Business Premium Yield Money Market
$20.00 but less than $2,500 |
Statement Money Market4
Money Market – below $25,000 |
|
Business Elite Money Market Previous Tiers: |
Business Elite Money Market (no longer offered) New Tiers: |
1 Includes 300 checks paid and/or deposited items. Additional checks paid and/or deposited items are $0.35 each.
2 Monthly service charge of $12.50. Fees include $0.75 for deposits per transaction, $0.18 for checks paid (per check), and $0.15 deposited item fee (each). Available balances earn credit toward the monthly service charge.
3 Monthly service charge of $20, includes 500 checks paid and/or deposited items. Additional checks paid and/or deposited items are $0.35 cents each. Maintain a minimum balance of $10,000 or more and we will waive the $20 monthly service charge.
4 Average balance is based on the last 12 months.
The Cash Management service is used for business and government clients who have multiple company users or have treasury services such as ACH and/or wire origination. Due to the specialized nature of the services used, you will be notified about how to access Cash Management and your converted services through a separate communication. You wil be able to use a preview site beginning February 1st to prepare yourself and your company users for the upgrade on February 15th.
You will have mobile access after you have accessed business online banking and established your new credentials. You can then download the Bluestone Bank Mobile app from the Google Play® or the Apple App® stores. Login with your new online banking credentials You will have access to your accounts, transactions, bill pay and mobile remote deposit services.
Note: If you are a cash management customer, the primary user will need to enroll in Business Online Banking and then download the Bluestone Bank Mobile app in order to have access to accounts, transactions and mobile remote deposit features. At this time, we do not have a separate cash management mobile app. We do expect to have this app in the near future.
For customers who use merchant remote deposit with a desktop scanner, you will be contacted through a separate communication with details of how to access the Bluestone Bank remote deposit service. You will continue to use the same scanners which will require the installation of the bank’s scanner drivers. These drivers are easily downloaded from our remote deposit site. Bank staff will be available to assist you with any technical issues you may experience.
You will have the availability of these additional services:
- Automated Payroll Service
- Payroll Direct Deposit
- Federal Tax Deposits
- Merchant Card Services
- Wire Transfers
- ACH Services
