Fatima, our Friendship Heights banker

Business Savings Accounts

The right savings solution for your business is an important part of your cash management plan.  


Let NCB help maximize your earnings potential, while simplifying your banking.  Fatima Fonseca, Branch Manager of NCB's Friendship Heights location, is featured above.  Contact us (Opens in a new Window) (Opens in a new Window) today to learn more about our business savings options.  

Business Savings

A basic, low-cost savings account with the ability to make unlimited deposits and withdraw funds when you need them.  

  • FREE Business Online Banking
  • FREE eStatements
  • $100 opening deposit to avoid a monthly fee
  • Earn interest on balances over $100
  • Excess withdrawal fees imposed for each withdrawal in excess of 6 per month (ATM withdrawals excluded). Limited items include preauthorized, automatic, online or telephone transfers of funds to another account or to a third party from your account. 

Escrow Manager Savings

Simplify accounting procedures and decrease paperwork associated with managing your clients' escrow funds.  This account allows the funds manager to deposit escrow funds into a single account, thereby eliminating the need to maintain separate accounts for each individual escrow deposit.  Funds are kept separate using a sub-accounting method, allowing each sub-account their own FDIC insurance and interest accruals.  For more information please Contact Us for details. 
 
Features
Combines unlimited separate escrow deposits into one master account
  • The escrow manager relationship consists of a master account and a disbursement account 
  • Allows for maintenance of separate accounting records for each individual escrow deposit account (sub-account)
  • Provides online account access to view monthly activity and statements
  • Provides each sub-account owner an annual 1099 statement for IRS reporting
  • Each sub-account is FDIC insured
Benefits
  • Relieves the administrative burden of opening, tracking and reporting on escrow accounts by automating activities
  • Increases efficiency by centralizing escrow funds in a single master account
  • Simplifies account opening, funds disbursement and the obtaining of sub-account information
  • Reduces time spent on administrative tasks such as 1099 statement preparation
  • The FDIC insurance coverage of each sub-account provides protection of the funds deposited

Premium Business Money Market

Access your business funds through limited check-writing, while earning a premium rate on our competitively priced money market account. 

  • FREE Visa® Check Card with chip technology
  • FREE eStatements
  • FREE Business Online Banking
  • FREE automated access through our telebanking system - Anytime Banking
  • $2,500 minimum balance required to open and avoid a monthly maintenance fee
  • Tiered interest rate on balances 
  • Excess withdrawal fees imposed for each withdrawal in excess of 6 per month (ATM withdrawals excluded). Limited items include preauthorized, automatic, online or telephone transfers of funds to another account or to a third party from your account. 

Business Certificates of Deposit

Choose from a variety of fixed-rate terms and select the best option to receive your interest payments.
  • Terms range from 3 to 30 months
  • Interest is compounded and credited on a monthly basis with the option to deposit into an NCB account or receive a monthly check
  • Minimum opening deposit of $1,000

Certificate of Deposit Account Registry Service (CDARS®) and Insured Cash Sweep (ICS®)

With CDARS and ICS, you can enjoy the peace of mind that comes with access to multi-million-dollar FDIC insurance and choose the service or combination of services that best meets your needs for returns and access to funds.  
 

CDARS

When you place a large deposit with us, we place your funds into Certificates of Deposit (CDs) issued by other banks in the CDARS Network - in increments of less than the standard FDIC insurance maximum of $250,000, so both principal and interest are eligible for FDIC protection. 

Smart Investing Means - One Bank. One Rate. One Statement

  • Access multi-million dollar FDIC insurance on CD investments by working directly with just us - a bank you know and trust.
  • Choose from a variety of maturities ranging from 3 months to 3 years.  You select the term that best fits your investment needs. 
  • Earn one rate for each per service for funds placed into CDs or money market deposit accounts. Ask for details for specific CD terms. 
  • Receive one easy-to-read statement from our bank summarizing your investments.  

 ICS

With Insured Cash Sweep (ICS), you can have it all when you place your funds into money market deposit accounts - all the same multi-million dollar FDIC insurance coverage like CDARS with flexible access your funds.   

A Sweep You Can Trust

  • Access multi-million dollar FDIC insurance on money market investments by working directly with just us - a bank you know and trust.
  • Earn returns and put your money to work for you
  • Access your funds up to six program withdrawals per month
  • Avoid the hassle of opening accounts at different banks in different insurable capacities

Get started today – Contact us for details on our Business Savings Accounts 


For information on account requirements and fees, please refer to our account disclosures and Business Fee Schedule.
 
Placement of funds through the ICS or CDARS service is subject to the terms, conditions, and disclosures in the service agreements, including the Deposit Placement Agreement (“DPA”). Limits apply and customer eligibility criteria may apply. In the ICS savings option, program withdrawals are limited to six per month. Although funds are placed at destination banks in amounts that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”), a depositor’s balances at the relationship institution that places the funds may exceed the SMDIA (e.g., before ICS or CDARS settlement for a deposit or after ICS or CDARS settlement for a withdrawal) or be ineligible for FDIC insurance (if the relationship institution is not a bank). As stated in the DPA, the depositor is responsible for making any necessary arrangements to protect such balances consistent with applicable law. If the depositor is subject to restrictions on placement of its funds, the depositor is responsible for determining whether its use of ICS or CDARS satisfies those restrictions. ICS, Insured Cash Sweep, and CDARS are registered service marks of Promontory Interfinancial Network, LLC.