Savings & Money Market Accounts
Growing businesses need to maintain a reasonable level of liquidity to help manage unexpected expenses and growth opportunities. Washington Trust Bank combines flexibility, accessibility and security into its savings programs.
All Business Savings And Money Market Accounts Include These Benefits:
- 24-hour access to accounts through digital banking services.
- Automated telephone banking access to check balances, make a transfer and check on previous transactions.
- eStatements available through digital banking accounts.
Business Savings
A convenient account that fits a variety of business savings needs.
Additional product information and details for Business SavingsCommercial Money Market
An easily accessed high-yield deposit account that allows you to get more from your business accounts. As your balance grows, so does the interest rate.
Additional product information and details for Commercial Money MarketPremium Commercial Market Fund
An account with a high performance combination of yield and accessibility. Our expansive tiered interest rate structure allows your business to earn more as your balance grows.
Additional product information and details for Premium Commercial Money MarketCash Management Money Market
An account with a high performance combination of yield and accessibility. This account requires a $500,000 minimum to open.
Additional product information and details for Cash Management Money Market| Business Savings | Commercial Money Market Account | Premium Commercial Market Fund | Cash Management Money Market | |
|---|---|---|---|---|
| A convenient account that fits a variety of business savings needs. | An easily accessed high-yield deposit account. As your balance grows so does the interest rate. | An account with a high performance combination of yield and accessibility. | An account with a high performance combination of yield and accessibility. This account requires a $500,000 minimum to open and is available to commercial customers only. | |
| Earns Interest2 | Yes | Yes. Tiered Rates1 | Yes. Tiered Rates1 | Yes. Tiered Rates1 |
| Available Features |
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| Monthly Base Fee In Service Charge | $3.00 | $10.00 | $25.00 | $25.00 |
| Balances Needed To Avoid Monthly Fees | Maintain a monthly minimum ledger balance4 of $350 or more to avoid the monthly service charge. If the balance requirement is not met, but the savings account is combined with the monthly checking statement, a $3.00 service charge refund will be posted to the account. | Maintain the average ledger balance5 of $1,500 or more to avoid the monthly service charge. | Maintain the average ledger balance5 of $25,000 or more to avoid the monthly service charge. | Maintain the average ledger balance5 of $25,000 or more to avoid the monthly service charge. |
| Other Fees | Up to 75 items per statement cycle can be deposited into the account with no charge, thereafter, the charge is $0.20 per item. | Up to 75 items per statement cycle can be deposited into the account with no charge, thereafter, the charge is $0.25 per item. | Up to 50 items per statement cycle can be deposited into the account with no charge, thereafter, the charge is $0.50 per item. | Up to 50 items per statement cycle can be deposited into the account with no charge, thereafter, the charge is $0.50 per item. |
- Interest is paid on all collected balances and compounded monthly, and the rate paid is determined by the tier.
- Please refer to current rate sheet.
- Some mobile service provider fees may apply.
- The lowest end-of-day balance in an account during a statement cycle.
- Average ledger balance is calculated by adding the balance in the account for each day of the statement period and dividing that figure by the number of days in the period.
