Business Deposit Accounts

At Westfield Bank, we offer an array of business deposit account products designed to help businesses, municipalities, non-profits, and escrow managers meet their unique cash management challenges.  

Choose from the following account types:

  • Checking
  • Savings 
  • Money Market
  • Certificates of Deposit
  • Sweep 
  • Zero Balance
  • Escrow Management

Which accounts are right for you?

Business Accounts

Account Type Ideal For:
Small Business Checking Businesses who process < 500 items per month
Commercial Checking Businesses who process > 500 items per month
Business Money Market & Certificates of Deposit Businesses seeking to maximize interest on excess deposit balances
Commercial Investment Sweep Account Businesses who want to maximize earning potential by automatically transferring excess cash into an interest-bearing account
Zero Balance Account (ZBA) Businesses looking for an easy way to manage multiple disbursement accounts such as payroll and accounts payable by drawing the exact amount of funds needed to pay disbursements automatically from the main account to the ZBA account(s)

Government Accounts

Account Type Ideal For:
Municipal Checking Municipalities who process < 500 items per month
Municipal Analysis Checking Municipalities who process > 500 items per month
Municipal Interest Checking Municipalities who process < 500 items per month and who want to earn interest
Municipal Money Market & Certificates of Deposit Municipalities seeking to maximize interest on excess deposit balances
Commercial Investment Sweep Account Municipalities who want to maximize earning potential by automatically transferring excess cash into an interest-bearing account
Zero Balance Account (ZBA) Municipalities looking for an easy way to manage multiple disbursement accounts such as payroll and accounts payable by drawing the exact amount of funds needed to pay disbursements automatically from the main account to the ZBA account(s)

Non-profit Accounts

Account Type Ideal For:
Non-profit Checking Non-profits who process < 500 items per month
Non-profit Interest Checking Non-profits who process < 500 items per month and who want to earn interest
Non-profit Analysis Checking Non-profits who process > 500 items per month
Non-profit Money Market & Certificates of Deposit Non-profits seeking to maximize interest on excess deposit balances
Commercial Investment Sweep Account Non-profits who want to maximize earning potential by automatically transferring excess cash into an interest-bearing account
Zero Balance Account (ZBA) Non-profits looking for an easy way to manage multiple disbursement accounts such as payroll and accounts payable by drawing the exact amount of funds needed to pay disbursements automatically from the main account to the ZBA account(s)

Escrow Management Accounts

Account Type Ideal For:
Escrow Management Master Checking Agents who manage escrow funds
Escrow Management Sub Savings Interest bearing account with limit of 6 electronic withdrawals per month

Managing escrow accounts can be a labor-intensive process for property management companies, assisted living facilities, nursing homes, and social service agencies.

Our Escrow Management accounts simplify that process by setting up a master checking account and separate sub savings accounts designed to hold clients’ escrowed funds. An easy-to-read monthly statement with custom naming is provided for each master and sub account, keeping things organized and providing a snapshot of all relevant account activity.

* Please note that Small Business Checking and Small Business Money Market accounts are the only accounts that can be opened online.
Please reach out to a member of our team to open any other type of business account.