Business Savings Account — Independent Bank Corp

The Business Savings Account from Independent Bank Corp is tailored for small and medium-sized enterprises, nonprofits, and professional practices that need a secure, flexible place to conserve operating reserves, plan for seasonal expenses, and earn predictable returns on surplus cash. This product combines the stability of a traditional savings vehicle with tools and services designed specifically for business clients, delivering easy access to funds, tiered earnings potential, and strong digital and relationship support to help your organization manage liquidity and grow with confidence.

Key Features

• Competitive tiered interest rates: Earn interest on balances with a rate structure that rewards higher balances while still providing meaningful returns on modest reserves.
• No-nonsense account management: Transparent fee schedule, clear minimum balance requirements, and straightforward monthly statements—ideal for business accounting and audits.
• Flexible access to funds: Withdrawals and transfers through online banking, mobile app, ACH, wire transfers, and in-branch services, giving you control over cash flow when you need it.
• Linked operating accounts: Easily link multiple business checking accounts for sweep and transfer capabilities to automate reserve funding and maximize interest.
• Multiple signers and controls: Support for authorized signers, dual-control permissions, and customizable transaction limits to align with your internal governance and security policies.
• FDIC insurance: Funds held in the Business Savings Account are eligible for FDIC protection up to applicable limits, providing peace of mind for your organization’s deposits.

Benefits for Your Business

Independent Bank Corp understands that business priorities change. Our Business Savings Account is structured to support those changing needs:

• Preserve capital and earn returns: Rather than letting idle cash sit in a non-interest-bearing account, direct excess funds into a savings vehicle that earns interest while remaining accessible.
• Improve cash management: Use the account to build a contingency fund, save for capital expenditures, or accumulate tax and payroll reserves in a separate, clearly accounted place.
• Enhance financial planning: Regular statements and integration with accounting tools make month-end reconciliation and forecasting simpler and more accurate.
• Reduce operational risk: Dedicated controls and multi-user access help enforce checks-and-balances for treasury functions, lowering the risk of errors and fraud.
• Dedicated support: Work with a business banking specialist who understands your sector and can recommend liquidity strategies, account structures, and complementary products.

How It Works

Opening a Business Savings Account with Independent Bank Corp is designed to be quick and straightforward. You’ll provide standard business documentation, select authorized signers, and choose whether to link the account to your main operating accounts for automated transfers. Once established:

• Interest is calculated daily and posted monthly, compounding based on the tiered rate schedule.
• You may set up automatic sweeps to move surplus funds from your checking to savings and back as needed.
• Online and mobile banking provide real-time balance visibility and transaction history, plus the ability to initiate transfers and manage account settings 24/7.

Eligibility & Documentation

Eligible businesses include corporations, limited liability companies, partnerships, sole proprietorships, nonprofits, and professional entities. Typical documentation required at account opening may include:

• Valid government-issued identification for authorized signers
• Employer Identification Number (EIN) or Tax ID
• Articles of incorporation, organizational documents, partnership agreement, or equivalent
• Resolution of authority or bank authorization form indicating signers and approval
• Proof of address and any regulatory documents required by your industry

Fees & Minimums

Independent Bank Corp keeps its pricing straightforward and transparent. Specific fee schedules and minimum balance requirements vary by branch and relationship tier; however, typical elements include a modest monthly maintenance fee (often waivable with a minimum average balance), fees for excess withdrawals beyond regulatory limits, and standard charges for outgoing wires or expedited services. Your relationship manager will walk you through the fee structure and identify ways to avoid or reduce recurring charges through bundled services or balance thresholds.

Security & Fraud Protection

Protecting client funds is a top priority. Features include multi-factor authentication for online access, real-time monitoring for unusual transactions, customizable alerts, and dual-approval capabilities for outward transfers. Independent Bank Corp’s fraud prevention services are continually updated to reflect evolving threats, and relationship teams offer best-practice guidance to help strengthen your internal controls.

Integration & Treasury Services

For businesses with more sophisticated treasury needs, the Business Savings Account integrates with payroll, merchant services, and cash-management solutions. Optional services include zero-balance accounts (ZBAs), automated sweep arrangements, and liquidity management consultations to optimize working capital and minimize idle balances across multiple accounts.

Why Choose Independent Bank Corp?

Independent Bank Corp combines local decision-making with national-grade banking infrastructure. Clients benefit from personalized service, responsive local relationship managers, and a technology platform that supports modern business workflows. Whether you’re building reserves, planning a capital expenditure, or simply seeking a safer home for surplus funds, our Business Savings Account is engineered to support your operational needs and strategic goals.

Get Started

To open an account or learn more, contact your local Independent Bank Corp business banking specialist or visit our website to begin the application process. We’ll help you choose the right structure, explain applicable terms, and set up the tools you need to manage funds efficiently and securely.

Independent Bank Corp — practical banking solutions built for businesses that demand clarity, control, and service.