Enterprise Bank currently requires customers with checking accounts to maintain a minimum balance or pay a monthly fee  Enterprise plans to offer accounts with no monthly fee and no minimum-balance requirement; to cover their projected administrative costs of $3 per account per month they plan to charge $30 for overdrawing an account
Since each month on average slightly more than 10 percent of Enterprises customers overdraw their accounts, bank officials predict the new accounts will generate a profit
Some of Enterprise Bank's current checking account customers are expected to switch to the new accounts once they are offered.