Minimum to open $5,000.00 New Money, new money is funds that have not been on deposit with BankNewport. A maintenance service of $10.00 will be charged each monthly statement cycle if the daily balance falls below $2,500.00. A minimum daily balance of $5,000.00 must be maintained earn the 3.50% APY.

To be eligible for the promotional interest rate, you must open a new business checking account, excluding Business Non-Profit and IOLTA checking accounts. The promotional interest rate applies for the first 90 days from the date of account opening. Within this initial 90-day period, enrollment, and activation in one of the following services is required: Online Bill Pay (with at least one completed transaction), Direct Deposit, ACH Origination, Merchant Services, or Payroll. Please note that ACH Origination, Merchant Services, and Payroll are subject to approval. If you enroll in one of these services within the first 90 days, the promotional interest rate will be extended for an additional 90 days. After this second 90-day period, the interest rate may change at any time.

If none of the specified services are enrolled in during the initial 90-day period, the account will be converted from the Business Money Market Promo to either the Business Money Market Savings or the Business Select Plus Money Market account, depending on the type of business checking account opened. For detailed terms applicable to these Money Market Accounts, please refer to the Non-Consumer Account Disclosures.