First Niagara Financial Group has added to its offerings for small-business customers, introducing new checking account options as part of its effort to attract more clients and business.
The Buffalo-based bank, which last year added a small-business division with more than 40 lenders in its Northeast territory, said Tuesday that it launched its BIZ200 and BIZ500 accounts with features geared to small businesses.
Its BIZ200 account, aimed at companies with up to $250,000 in monthly revenues, offers 200 free transactions per month, with no minimum balance requirements or monthly account maintenance fee. The BIZ500 account, for growing companies, offers 500 free transactions per month but requires a $5,000 average daily minimum balance to avoid the $15 monthly fee. The higher-level account also includes tiered cash-handling fees, including no charge for the first $50,000 per statement cycle.
The bank said that it will continue making changes, including “digital enhancements” to suit customer needs.
“First Niagara recognizes the importance of small business and has developed business checking products to save small-business owners money,” said F. Scott Fisher, First Niagara’s managing director of retail channels.
“We are committed to providing the most value to our small-business clients and will continue to find ways to help them going forward.”