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Best Business Checking Accounts at Community Banks

Feb. 19, 2013
Personal Finance
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Business checking accounts are useful banking tools for businesses that make a lot of transactions, like cash and check deposits. They offer easy access to funds and help business owners separate their personal finances from their business finances. But finding great business checking accounts can be tough. They often have high maintenance fees, fees for not meeting balance requirements, and fees for making cash deposits or transactions beyond a set monthly limit.

Community Banks for Your Small Business

Community banks tend to offer better checking options for small businesses that deal in lower transaction volumes. At many local community banks you can find accounts that have low to zero fees, with only minor charges for extra transactions. We’ve put together a list of business checking accounts at community banks across the country that are ideal for small businesses that would like an account that is as close to free as possible.

Free Business Checking – Four Oaks Bank and Trust Company (Four Oaks, NC)

Free Business Checking at Four Oaks Community Bank is the perfect option for your small business. The account is free, meaning there are no balance requirements or monthly maintenance fees. You get 150 free combined checks, deposits or items deposited per month, with a 40-cent charge for each item beyond 150. The account can be opened for just $100. Four Oaks Bank and Trust Company has locations in 14 Central North Carolina cities.

Small Business Checking – QNB Bank (Quakertown, PA)

For your small business’s day-to-day banking needs, QNB Bank offers Small Business Checking, a free account that has no monthly service charge or balance requirements. You get 300 free items a month, including checks paid, checks deposited or deposit tickets, and for every item beyond 300, there is a 50-cent charge. Your monthly statements include QNB Check Imaging to help you keep records of your transactions. QNB Bank has 10 branches in Eastern Pennsylvania.

Free Business Checking – Newtown Savings Bank (Newtown, CT)

Newtown Savings Bank makes banking easy for your small business. Their Free Business Checking account is free of service fees or balance requirements. It offers up to 100 free withdrawals per month and 150 free deposits, in addition to free online and mobile banking, and a free VISA Business Debit Card. You can replace your paper statements with eStatements, at no cost. Newtown Savings Bank has 14 branches in Bethel, Brookfield, Danbury, Monroe, Newtown, Shelton, Southbury, Trumbull and Woodbury, Connecticut.

Basic Business Checking – Easthampton Savings Bank (Easthampton, MA)

Basic Business Checking is Easthampton Savings Bank’s free business checking option, and it does not skimp on the features. Free of service fees and balance requirements, Basic Business Checking offers unlimited check writing and a free business debit card. There is only a 30-cent per-item fee for Online ACH transactions, and Easthampton Savings Bank gives you the option of using their ESBriefcase Business Online Banking system, with several free services, to help you monitor and track your accounts. Easthampton Savings Bank has 10 branches in the Pioneer Valley, Massachusetts.

Business Select Checking Account – United Community Bank (Leeds, ND)

If you’re looking for a free account, United Community Bank is the place to go for your small business checking needs. Their Business Select Checking Account has no balance requirements, no service charges and no per-item fees on checks or deposits! The account also offers a bunch of free features, including a free Instant Cash and Check Card and remote deposit (upon approval), free online and mobile banking, free bill pay, free email and text alerts, and free QuickBooks Export from online banking to help manage your account. With unlimited transactions and free cash and change orders, Business Select Checking is the smart account for your small business. United Community Bank has branches in Leeds, Burlington, Minot and Drake, North Dakota.

Small Business Checking – Community Bank CBD (Delavan, WI) 

Small Business Checking at Community Bank CBD is an excellent business checking option if you are a small business owner. The account has no minimum balance requirements and no service fees, and you get 100 free transactions per month (including debits, credits and deposits), with a minor 30-cent fee for every item beyond 100. You also get Business Internet Limited Free, which allows you to review statements, transfer funds, view cleared check copies, make loan payments and advances, and export account information. Community Bank CBD has offices in Delavan, Sharon, Clinton and Lake Geneva, Wisconsin.

Dollarwise – Lincoln Savings Bank (Cedar Falls, IA)

The Dollarwise account at Lincoln Savings Bank is a great fit for small businesses that need a basic checking account. You get 50 free transactions per month, and all transactions beyond 50 carry a small 15-cent charge. The account comes with free online banking and bill pay, and a free basic debit card. It’s the sensible account for your small business. Lincoln Savings Bank has 17 branches in Central and Northern Iowa.

Free Business Checking – National Bank and Trust (Wilmington, OH)

Free Business Checking at National Bank and Trust is the flexible, free account you need for your small business. The account has no maintenance fee or balance requirements, and you get 150 free transactions per month (including in-bound ACH, checks paid, deposit tickets and checks deposited), with a 50-cent fee for transactions beyond 150. Cash deposits are unlimited, and the account offers free online and mobile banking, free bill pay and a free VISA Business Debit Card. National Bank and Trust has 22 locations in Southwest Ohio.

Business Free Checking – Sterling Bank (Spokane, WA)

Business Free Checking at Sterling Bank is a simple, free account that makes checking easy. It has no service charge or minimum balance requirement, and can be opened for just $100. You can deposit up to $10,000 cash per month, free of charge, and you get 150 free checks paid or deposited each month, as well. There is a small 40-cent charge for every item beyond 150. The account also offers free online banking and bill pay, and a free Business VISA Check Card. Sterling Bank has branches in California, Oregon, Idaho and Washington.

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