Banking products are offered by Berkshire Bank, a Member FDIC and Equal Housing Lender, providing a range of financial solutions tailored to meet diverse customer needs. Berkshire Bank operates as a Massachusetts-chartered bank, ensuring services are grounded in established banking principles. It’s important to note that interest rates are variable and subject to change, reflecting market dynamics. The rates mentioned are current as of February 28, 2025.
Berkshire Bank introduces the Berkshire One suite of accounts, designed to offer premium benefits and competitive rates to customers who maintain a checking account relationship with the bank. This suite includes checking, savings, money market, and certificate of deposit (CD) options, each with unique features and advantages.
Berkshire One Checking
The Berkshire One Checking account is designed for customers seeking both convenience and value. To open this account, a minimum deposit of $10 is required. You can earn a variable interest rate, currently at 0.10% Annual Percentage Yield (APY), on balances as low as $0.01, provided you enroll in Paperless Statements and Notices. As a variable rate account, the interest rate and APY can fluctuate without prior notice. This product is not available for business accounts and does not include Courtesy Pay℠.
A standout feature of the Berkshire One Checking account is the Stream On credit. New Berkshire One checking account clients can benefit from this for up to 24 months. Each month, if you qualify, Berkshire Bank will credit up to $15 into your account to cover streaming service subscriptions.
To qualify for the Stream On credit each calendar month, you must:
- Establish combined direct deposits totaling $2,000 or more into your Berkshire One Checking account.
- Set up a monthly subscription with one of the eligible streaming services (Disney+, Netflix, Hulu, YouTube Premium, or Paramount+) to be debited from your Berkshire One Checking account. Annual subscriptions are not eligible.
The credit amount will match the highest streaming service payment, up to $15. For instance, if you pay $6.99 for Netflix and $7.99 for Disney+, you’ll receive a credit of $7.99. If you pay more than $15 for a streaming service, the maximum credit remains $15. This credit appears on your statement as “Credit for streaming service.”
Furthermore, Berkshire One Checking account holders enjoy cell phone insurance³ and nationwide ATM fee reimbursement⁴. The cell phone insurance, offered through Mastercard, covers up to $800 per claim, with a maximum of $1,000 per covered card annually, subject to a $50 deductible and claim limits. Berkshire Bank also waives all non-Berkshire Bank ATM inquiry fees and reimburses all non-Berkshire Bank ATM withdrawal and surcharge fees incurred nationwide per statement cycle.
Berkshire One Savings
For those looking to grow their savings, the Berkshire One Savings account offers a variable premium interest rate, currently at a competitive 4.00% APY. This rate is also variable and subject to change. A minimum of $250 is needed to open this account, but you only need a minimum balance of $10 to earn the disclosed APY. Eligibility for this account requires ownership of a Berkshire Bank checking account.
Berkshire One Money Market
The Berkshire One Money Market account provides a higher yield option for larger balances. It currently offers a 4.10% APY, which is variable and subject to change. Opening this account requires a $1,000 minimum deposit and, like the savings account, requires a Berkshire Bank checking account ownership. The minimum balance to earn the APY is $10, and the account balance cannot exceed $5,000,000.
Berkshire One CDs
Berkshire Bank offers two Berkshire One Certificate of Deposit (CD) options: the 6-Month CD and the 24-Month CD, both requiring a Berkshire Bank checking account ownership.
The Berkshire One 6-Month CD currently features a 4.15% APY. The Berkshire One 24-Month CD offers a 4.00% APY. Both CDs require a minimum of $1,000 to open and to attain the stated APY. Early withdrawals may incur penalties, and fees can reduce earnings. The maximum balance for both CD accounts is $1,000,000, and additional deposits are not allowed before maturity.
Berkshire Bank’s Berkshire One accounts present a compelling suite of banking products, each designed with specific customer needs in mind, from everyday checking with added perks to high-yield savings and CDs. For more detailed information and to explore which Berkshire One account best fits your financial goals, visit Berkshire Bank or contact a customer service representative.
