MainStreet Business Checking

Enhanced security for your small business

We now offer MainStreet Business customers a multi-factor authentication (MFA) system that provides additional security to your MainStreet Business account. Here's how it adds an important layer of protection.

The MFA security token (shown at right) generates a random number every 30 seconds. When you log into your online banking account, you are prompted to enter the token-generated number to gain access to the account. No number - no access. This provides an added layer of security on top of user IDs and passwords to help prevent thieves and fraudsters from gaining unauthorized online account access and conducting fraudulent acts.

No or low fees on a variety of products and services - and now, enhanced security with MFA to help prevent account fraud. MainStreet Business Checking puts The Power of AND to work for your business.

Contact Us for more information.

Account Features

If your business carries moderate account balances with a minimal amount of transactions, our MainStreet Business account may be just right for you. From online banking and online bill pay to eStatements, MainStreet Business Checking offers smart features for small businesses like yours, including:

  • Minimum balance to open: $25
  • Monthly service charge: $8
  • Minimum daily balance to waive monthly service charge: $5,000
  • Monthly transaction charges: First 400 free, then $.30 each
  • Unlimited check writing
  • Enhanced protection with multi-factor authentication (MFA)
  • First MFA security token free ($30 charge for subsequent tokens)
  • Free online banking and bill pay
  • Free Visa® Check Card and debit card transactions
  • Overdraft protection; credit approval required
  • Unlimited telephone banking
  • Notary services

Answers to Common Questions About MFA Security Tokens

What is MFA (Multi-Factor Authentication)?

MFA is an acronym for Multi-factor Authentication. An authentication factor is a piece of information used to authenticate or verify the identity of a person requesting access to a secure environment.

How does MFA aid in protecting my online account?

There are three types of authentication factors:
  • Something the user knows (like a password);
  • Something the user has (a token, for example); and
  • Something the user is (such as a fingerprint).
Authentication methods that employ more than one factor are more difficult to compromise.

Does an MFA security token offer 100 percent protection from identity theft and fraud?

No. While the MFA security token enhances your level of security, no device or other security measure available today is 100 percent foolproof. Our mission is to stay ahead of the methods used by thieves and fraudsters to gain unauthorized access to accounts and to provide innovative enhanced security features to help keep our customers from becoming victims of account fraud.

Is my online account safe if I do not utilize an MFA security token?

Passwords and secret phrases offer one layer of protection against unauthorized access. The MFA security token provides a second layer of security to further enhance the protection of your account.

Can I have more than one MFA security token on an online account?

Yes. We strongly encourage all users of your MainStreet Business Checking account to have his or her own MFA security token.

How big is the MFA security token?

The MFA security token fits comfortably in the palm of your hand. It can easily be attached to your keychain. (2¼" x ½" x 1¼")

Does the MFA security token make noise?

No, it does not.

What if I lose the MFA security token?

When you log in, a link is provided for you to report lost or damaged tokens. Once reported, we will disable that token. If the token is found again, we can enable it again. If a replacement token is required, we will enable a new one for your account for a small fee of $30.

How long does the battery last in the MFA security token?

The battery will last for approximately three years, after which time you will need to purchase a new token.

Can someone use the MFA security token if it is stolen?

The person who has stolen your MFA security token would also need to have your user ID and your PIN in order to access your account. However, once you report that your MFA security token has been stolen, it will be disabled.

How do I activate/operate the MFA security token?

Instructions are included in this downloadable brochure.

Learn More About Security

Androscoggin Bank is helping fight fraud by employing such security measures as MFA security tokens - and by helping customers become more aware of fraudulent practices. Here's some important information on what you can do to protect your account from unauthorized access. ... Read More.