Merchants Rewards Checking
Designed for businesses that enjoy cash rewards by frequently using a debit card for purchases.
- $100 initial deposit required to open the account.
- $5.00 monthly service charge.
- FDIC Insured
What you get from Merchants Rewards Checking:
- Cash Back* on all legitimate debit card Point of Sale purchases
- FREE processing on your first 200 items each month (checks processed and checks deposited.) Each additional item is $0.50.**
- Automatic rebate of the Merchants Bank foreign ATM fee.
- $40 credit toward your first order of checks with Harland Clarke.
- Enjoy the secure and convenient way to check account balances, make payments, transfer money and more by enrolling in Small Business Online Banking.
- Surcharge-free ATM usage at Merchants Bank.
- Online Banking with Bill Payment–bank anytime from your computer and enjoy 20 FREE bill payments per month. Additional payments are $0.50 each.
- Phone Banking with 24/7 access to check balances, transfer funds, make loan payments and more.
Support Where And When You Need It
- Talk to an experienced, friendly person right here in Vermont.
- Live Online Banking help is also available.
- Customer Call Center representatives are available 6 days a week. Click here for hours.
- Our statewide network of branches and ATMs make it easy for you to connect with your money and us.
- FREE access to FinanceWorks, a comprehensive financial management tool, with Small Business Online Banking.
- FREE Business Debit Card for POS purchases anywhere MasterCard is accepted.
- Ability to customize a suite of Cash Management services to meet your business needs–from multiple Sweep programs and Repurchase Agreements to ACH, wire transfers and tax payments.
*The current cash reward rebate structure of 0.5% variable rate of the amount of all POS debit card transactions will be discontinued as of Friday, October 24, 1014. Starting Friday, October 24, 2014, a rebate of $0.20 for each POS debit card transaction will be credited to the Merchants Rewards Checking account at the time of the statement cycle. If the account is closed before the rebate is credited, you will not receive the rebate amount. ATM cash withdrawals are not eligible for this rebate. IRS 1099 reporting is required for annual rebates of $600 or greater.
**Beginning Friday, October 24, 2014, your account will continue to have free processing on the first 200 items processed each month, and each additional item processed over and above your 200 free items will continue to be $0.50 each. The change is that in addition to each item deposited and check processed, each deposit transaction will also be counted as an item processed.
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