Melrose Bank

Founded in 1890 by Melrose's leading citizens, Melrose Cooperative Bank continues to be committed to meeting the financial needs of area residents and businesses. From checking, savings and money market accounts, to CDs, IRAs, mortgages and consumer loans, we offer a wide range of products designed to meet your needs. Melrose Online, telephone banking, our drive-up ATM and our membership in the SUM Program make it easy and convenient to bank with us.

Identification Required to Open a New Account
Description of your identification policy: 
One form of gov't issued photo ID, or two forms of non-photo ID
IDs acceptable to open account: 
Yes
What other IDs are valid to open an account: 
Permanent Resident Card (Form I-551) with photo.
What other IDs are valid to open an account: 
U.S. non-Immigrant Visa and Border Crossing Card (Form DSP-150) with photo.
What other IDs are valid to open an account: 
INS Employment Authorization Card (Form I-766 or I-866) with photo.
What other IDs are valid to open an account: 
U.S. Military ID Common Access Card (with photo).
What other IDs are valid to open an account: 
U.S. Armed Forces ID.
Other forms of identification that are valid to open an account: 
US or Foreign Passport with appropriate Tax ID number provided
Savings Account Features
Monthly Maintenance Fee: 
Free, no monthly maintenance fee.
Minimum opening deposit: 
$10.00
Ability to have an automatic transfer (auto-save) from other accounts: 
Yes
Considers Chexsystems if less than 6 months: 
Yes
Other Bank Products and Services
Outgoing International wire transfers: 
Yes
Cost of wire transfer: 
$75.00
Remittances to foreign countries available: 
No
Free On-Line Banking: 
Yes
Cost for money orders: 
$3.00
Mobile banking available: 
Yes
Monthly statements : 
No additional cost.
"Help" phone line hours: 
24/7 for Balance and Transaction history; 8-4 Mon - Fri for bank personnel
Language assistance available (not necessarily in person): 
No
Incentives available for completing financial education training: 
No, incentives are not available.
 

 

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