Eastern Bank

Commercial bank · Boston, United States

Eastern Bank is a Massachusetts state-chartered commercial bank founded in 1818 and owned by Eastern Bankshares, which trades on Nasdaq. It held USD 31.13 billion of assets and USD 26.15 billion of domestic deposits at 30 June 2026 across 131 offices in eastern Massachusetts, southern New Hampshire and Rhode Island. Its small business range starts with Free Business Checking, which has no monthly fee, no minimum balance and 100 free transactions a month, and runs up to the Eastern Treasury cash management platform with ACH origination, positive pay and overnight investment sweeps. An Innovation Banking group lends to growth-stage software, life sciences and healthcare IT companies, and the bank calls itself the top SBA lender in Massachusetts. International trade services cover import and export letters of credit, documentary collections and foreign exchange through a partnership with PNC Bank.

Legal name: Eastern Bank
Regulated by: FDIC (deposit insurance, certificate 32773), Massachusetts Division of Banks
Licence confirmed: yes, on a regulator's own list
Established: 1818
Website: www.easternbank.com

Scores, 0 to 10

7.5Lowest fees

Free Business Checking has no monthly maintenance fee and no minimum balance, 100 free transactions a month and USD 0.50 per transaction above that, with a USD 50 minimum opening deposit. · source

7.0United States

131 offices and USD 26.15 billion of domestic deposits at 30 June 2026, with ACH origination and wire transfer through the Eastern Treasury platform, but coverage is limited to eastern Massachusetts, southern New Hampshire and Rhode Island. · source

7.0Financial strength & stability

USD 31.13 billion of assets, a 13.07% total risk-based capital ratio and 1.13% return on assets at 30 June 2026, with FDIC insured deposits. · source

6.5Startups & VC-backed companies

The Innovation Banking group lends only to growth-stage technology, life sciences and healthcare IT companies and assesses investor base and management rather than the balance sheet, though no pre-revenue account programme is published. · source

6.5Trade, manufacturing & import-export

Import, export, confirmed and standby letters of credit, documentary collections and Export-Import Bank credit insurance are all offered, managed on a Global Trade online platform, though only from one US region. · source

5.5Cross-border payments, FX and multi-currency accounts

International wires are sent and received in US dollars or foreign currency with spot and forward contracts and multicurrency balance management, but the service is delivered through a partnership with PNC Bank and no margins or currency list are published. The Eastern Treasury platform covers ACH origination, electronic payroll and tax payments, real-time wire transfers, ACH positive pay, overnight investment sweep and sweep to a line of credit, all in a single US dollar country. · source

5.5Fast digital onboarding

The Express Business Loan takes an online application in as little as five minutes, but business checking pages set a USD 50 opening deposit and route applicants to contact a banker rather than to a self-serve online account opening flow. · source

5.0Online businesses: e-commerce and SaaS

Merchant services are offered for card acceptance, but there is no multi-currency collection account or marketplace payout product on the business pages. Innovation Banking names SaaS and tech-enabled services as core verticals with non-traditional financing structures, but there is no banking API, no Stripe or accounting integration and no foreign currency receiving account. · source

5.0Customer satisfaction

The consumer app rates 4.84 out of 5 from 6,317 US App Store ratings, but the two business apps rate 1.52 from 27 and 2.67 from 3. · source

5.0Business cards (Visa, Mastercard)

A free Debit Mastercard BusinessCard comes with Free Business Checking and an Eastern Bank Rewards BusinessCard credit card is offered, but no virtual cards or per-card spend controls are published. · source

5.0On-ramp: buy crypto with fiat

Evidence is thin: Eastern publishes no rule on business payments to crypto exchanges and no reports of blocked exchange transfers were found, checked September 2026. · source

5.0Off-ramp: crypto to fiat in a business account

Evidence is thin: Eastern publishes no source-of-funds process for crypto proceeds and no reports of returned exchange wires were found, checked September 2026. · source

4.0Best interest on business balances

No business deposit APY is published; the bank offers business savings and money market accounts described only as competitive, plus an overnight investment sweep for excess balances through treasury services. · source

3.0Crypto-friendly bank

Eastern publishes no policy on banking crypto exchanges, brokers or miners; the specialized services list runs from international banking to merchant services and never mentions digital assets. · source

3.0Fintech companies that need a partner bank

Eastern publishes no safeguarding account, sponsor banking, BIN sponsorship or agency rail programme for payment firms or electronic money institutions. · source

3.0Foreign-owned & non-resident companies

Eastern publishes no policy for companies whose owners or directors live abroad, and every business account page directs applicants to a local banker or branch. · source

3.0High-risk verticals (iGaming, cannabis, adult, forex)

No acceptable use or prohibited business list covering gambling, cannabis, adult content or forex brokers is published on the business site, so no onboarding path is stated for any of them. · source

1.0Crypto wallet and custody for a business

Eastern's business menu lists checking, lending, cash management, merchant services and specialized services for government, international and IOLTA clients, with no crypto custody, checked September 2026. · source

1.0Accept crypto payments

Eastern's merchant services are card processing, and no crypto or stablecoin acceptance appears on its business pages, checked September 2026. · source

1.0Bitcoin

No bitcoin buying, holding or transfer at Eastern for business clients, checked on its business pages September 2026. · source

1.0Ethereum

No ether product at Eastern for business clients, checked on its business pages September 2026. · source

1.0Stablecoins (USDC, USDT and others)

No stablecoin accounts, payouts or settlement role at Eastern, checked on its business pages September 2026. · source

Sources

Built on public information and the BankStore team's own aggregated experience; no confidential client or partner data. Bank Index and BankStore are not banks. This is information, not financial advice.