A Guide to Switching Business Bank Accounts
Switching your business checking account is just the beginning. We offer a wide range of products to help your business thrive.
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Business Checking
as high as
2.50
%
APY
APY is the Annual Percentage Yield and accurate as of 11/03/2022. Business Premier Checking is a tiered rate product. Balances of $250,000 or greater earn 2.50% APY; balances of $100,000.00 - $249,999.99 earn 2.00% APY; balances of $50,000.00 - $99,999.99 earn 1.75%; balances of $10,000.00 - $49,999.99 earn 1.25% APY; and balances less than $10,000.00 earn 1.00% APY. Offer and rate are subject to change. Some exclusions apply. Refer to the fee schedule for complete details. Fees could reduce earnings.
%
APY
Earn more with fewer fees.
You work hard for your business, and your checking account should, too. That’s why we offer business checking options that not only allow you to earn on your balance or get cash back but also provide maximum convenience and minimal fees, allowing you to keep more of your hard-earned money. Plus, each account comes with the flexibility of multiple payment options, including ACH, Bill Pay, Wire Transfers, and more. Choose a checking account that works as hard as you do.
Which Account is Best for You?
Earn on your balance or get cash back? Lower balances with active debit card users can earn more with Business Choice Checking, while higher balances will benefit from Business Premier Checking. To help decide which one might be best for your business, here’s a comparison:
| Avg. Balance vs. Debit Card Swipes | Return Rate | Avg. Monthly EarningsThe chart is for comparison purposes only. Numbers are rounded to the nearest whole dollar. Results may vary and are not guaranteed. | Avg. Yearly EarningsThe chart is for comparison purposes only. Numbers are rounded to the nearest whole dollar. Results may vary and are not guaranteed. |
|---|---|---|---|
| Premier Checking (Tiered Earnings Based on Balance)1 | |||
| $250,000 Balance | 2.50% APY1 | $521 | $6,250 |
| $50,000 Balance | 1.75% APY1 | $73 | $875 |
| $5,000 Balance | 1.00% APY1 | $4 | $50 |
| Choice Checking (Cash Back with Debit Card Swipes) | |||
| 80 Debit Card Transactions Per Month | 10¢ Per TransactionOffer valid as of 02/01/2021. $0.10 will be earned on every debit card purchase of $5 or more, including PIN, signature, and online purchases made with a Business Choice checking account. All applicable account terms, fees, and charges are subject to change. This offer may be modified or withdrawn at any time. | $8 | $96 |
| 50 Debit Card Transactions Per Month | 10¢ Per TransactionOffer valid as of 02/01/2021. $0.10 will be earned on every debit card purchase of $5 or more, including PIN, signature, and online purchases made with a Business Choice checking account. All applicable account terms, fees, and charges are subject to change. This offer may be modified or withdrawn at any time. | $5 | $60 |
| 30 Debit Card Transactions Per Month | 10¢ Per TransactionOffer valid as of 02/01/2021. $0.10 will be earned on every debit card purchase of $5 or more, including PIN, signature, and online purchases made with a Business Choice checking account. All applicable account terms, fees, and charges are subject to change. This offer may be modified or withdrawn at any time. | $3 | $36 |
Keep More of Your Money
Compare our fees with others, and you’ll see we provide the best value for your dollar.
 | Centennial Bank | First Security | Regions | |
|---|---|---|---|---|
| Domestic Commercial Wire Transfer – Outgoing | $10 | $25 | $20 | $25 |
| International Commercial Wire Transfer – Outgoing | $30 | $50 | $55 | $45 |
| ACH Monthly | No Charge | $25 | $22 | $45 |
| ACH Fee for Credit or Debit | $0.15 | $0.09 | $0.09 | $0.26 |
| Remote Deposit Monthly Charge | $35 | $50 | $64 | $38 |
| Get Started |
Ready to Earn More?
If you’re ready to open your new account, check out our Account Opening Checklist to make sure you have everything you need.
Frequently Asked Questions
Do I need a business checking account?
While it’s not a must, having a business checking account is a smart move. It helps keep your business and personal finances separate, making everything from tracking expenses to managing taxes a lot easier.
When should I open a checking account for my business?
It’s a good idea to set up a business checking account as soon as you start your business and see some cash flow. The sooner you start, the better you’ll be at keeping your finances organized and preparing for the future!
How much do you need to open a business checking account?
You’ll need a minimum deposit of just $100 to open a business checking account with us. After that, there are no minimum balance requirements to worry about.
Who can get a business checking account?
We welcome a variety of businesses. Whether you’re a sole proprietor, partner, LLC, or corporation, you can open a business checking account with us.
How do I open a business checking account?
Opening an account is easy. Just visit your local branch with the following documents, which may vary based on your business structure (e.g., Corporation, LLC, Sole Proprietorship, or Partnership):
- Proof of Business: Such as a business license.
- Tax ID Number: Your EIN or TIN.
- Identification: Valid ID for the business owner(s).
- Business Documents: Including incorporation papers or similar documents.
What is the monthly fee for a business checking account?
Great news! We don’t charge a monthly fee for your business checking account. However, fees may apply for specific transactions like overdrafts or returned deposits. Please refer to our Business Fee Schedule for a complete list of potential fees.
