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Chequing Account Options and Fees

 

Interest-bearing Application Currencies

Average Daily Minimum Balance Required

Maintenance Fee (If Average Daily Minimum Balance NOT maintained) Free Cheque Allowance (If Average Daily Minimum Balance maintained)

Per cheque processing for additional cheques

e-Chequing

Yes (0.50% on balances exceeding $2000) Local personal use only BMD None Does not apply 0

$2.50

Value Chequing No Local personal use only BMD, USD None Does not apply

0

$1.00
Regular Chequing No Local personal and commercial use only BMD, USD, CAD and GBP $2,000 $8/£6/month (fee waived for Seniors) 10 (fee waived for Seniors) $0.55/£0.35 (fee waived for Seniors)
Volume Chequing No Local commercial use only BMD, USD $10,000 $12/month

50/month

$0.55
Power Chequing No Local commercial use only BMD, USD $25,000 $22/month 150/month $0.55

Description Fees
ATM Transaction No charge
In-Branch Debit Transactions $2.00
Set Up Fee No charge
Cheque Overdraft (Establishing Facility, Preparing and Processing Documentation) $125/year
Interest on Overdraft Balance Variable rates available
Stop Payments $15 (Good for six months)
Return Cheques $35/cheque
Unsanctioned Items $35 each
Dormancy Fee (after one year of inactivity) $6 per month if balance under $2,500 (fee waived for Seniors) 
Lost Cheque Books - Requiring a new account number $16
Fee for foreign cheque requiring special collection handling $65, plus foreign bank charges for process and remitting funds
Collection for Chequewise cheque negotiated outside of Bermuda $35, plus Butterfield Bank's cost of remitting funds ($5 - $30, plus any charges by the foreign bank for processing
Non-Schedule Statement Request  $7.50 each
Schedule Additional Statements $5 each
Copy of Statement for Prior Months $7.50 each
Copies of Transactions $5 per item (plus $30/hour research fee)
Routine Research on Statements or Items Prior to Current Month $30/hour
Audit Confirmation $40
Cheque Books Price is per book of 25 (minimum order 100 cheques)
Household Cheques (Two-colour Standard - Marine Animals/Bermuda Flowers) $7 BMD, $7 USD, $9 CAD, £5 GBP (fee waived for seniors) 
Household Cheques (Four-colour Scenic) $8 BMD, $8 USD, $10 CAD, £6 GBP (Seniors: $2.50 BMD, $2.50 USD, $3 CAD, £1.25 GBP)
Business Cheques (One cheque/page, 100 pages/ book) $29 BMD, $29 USD, $36 CAD, £20 GBP
Business Cheques (Three cheques/page, 40 pages/ book) $38 BMD, $38 USD, $47.50 CAD, £27 GBP
Business Cheques (Three cheques/page, 100 pages/book) $54 BMD, $54 USD, $68 CAD, £38 GBP 
Deposit Books (Two, three and four-part) $3.50 BMD, $3.50 USD, $4 CAD, £2.25 GBP 
Butterfield Line $6 BMD

 

Fees effective 17 August 2009

 

Open an account:

To open an account or for more information visit your local Banking Centre or contact us
at (441) 295 1111. 

Certain restrictions apply.  Fees and rates are subject to change without notice.  Cheques drawn on Butterfield chequing accounts are only negotiable in Bermuda.  Bank drafts are available for overseas/foreign payments.  Funds held in chequing accounts may be accessed at ATMs displaying the MasterCard®/Cirrus® logos using a Butterfield Card debit card.

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