Wells Fargo Business Checking: 2025 Review
A one-stop shop for business banking with the typical fees and restrictions of a brick-and-mortar bank.
Overview
The bottom line:
The main selling point of Wells Fargo’s business checking accounts is everything the bank offers beyond the account itself, including SBA loans and merchant accounts. But high fees limit its appeal even for business owners looking for a one-stop shop.
Bank account details
Monthly fee
$10.00
Waived with $500 minimum balance
APY
N/A
Bonus
N/A
Pros & Cons
Pros
Phone customer support available until 11 p.m. ET on weekdays and on Saturdays and Sundays.
No fees at Wells Fargo ATMs and access to around 4,900 branch locations.
Supports Zelle for Business.
Cons
No free business checking account option.
Limit of 100 fee-free transactions per month.
Bank account comparison
Compare to other bank accounts 
Wells Fargo Initiate Business Checking℠ Account Member FDIC
4.2
NerdWallet rating
5.0
NerdWallet rating
4.7
NerdWallet rating
4.5
NerdWallet rating
Monthly fee
$10.00
Waived with $500 minimum balance Monthly fee
$0
Monthly fee
$0
Monthly fee
$0
APY
N/A
APY
1.30%
With $0 min. balance for APY APY
N/A
APY
N/A
Need more options? Check our picks for best business bank accounts of 2025
Wells Fargo is a household name. But its business checking accounts aren't anything to write home about — you'll face typical brick-and-mortar fees (although its monthly fees are easier to waive than those of many competitors) without interest or a sign-up bonus.
However, opening a business bank account
Wells Fargo offers three business checking accounts: Initiate Business Checking, Navigate Business Checking and Optimize Business Checking. While this review includes information on all three accounts, the star rating indicated above is specific to Wells Fargo’s Initiate Business Checking account.
Wells Fargo business checking is best for small-business owners who:
- Prioritize in-person banking at a brick-and-mortar branch.
- Qualify to waive the monthly service fee.
- Can utilize Wells Fargo's other business banking services.
If you want to avoid a monthly fee altogether, consider U.S. Bank Business Essentials
Wells Fargo business checking at a glance
| Initiate Business Checking | Navigate Business Checking | Optimize Business Checking | |
| Monthly fee: | $10, waived with a minimum daily balance of $500 or $1,000 average ledger balance. | $25, waived with a minimum daily balance of $10,000 or $15,000 average combined business deposit balances. | $75; earnings allowance included with account can be used to offset monthly fees. |
| Minimum opening deposit requirement: | $25. | $25. | $25. |
| APY: | None. | Rates vary based on your location. | None. |
| Transactions: | Up to 100 fee-free transactions per month, then 50 cents per transaction after that. | Up to 250 fee-free transactions per month, then 50 cents per transaction after that. | Up to 250 fee-free transactions per month, then 50 cents per transaction after that. |
| Cash deposits: | Up to $5,000 per month with no fee, after that 30 cents per $100 deposited. | Up to $20,000 per month with no fee, after that 30 cents per $100 deposited. | 30 cents per $1 deposited. |
| Bonus: | None. | None. | None. |
How to apply for a Wells Fargo business checking account
Most businesses can open a Wells Fargo business checking account online, in person or over the phone. But trusts, government agencies, publicly traded companies and Indian tribal governments must apply in person at a local branch. Wells Fargo operates roughly 4,600 retail branches and more than 11,000 ATMs across 36 states and Washington, D.C.
What you'll need to open a Wells Fargo business account
Business owners need to provide the following documents and information, as well as an opening deposit of at least $25.
- Personal information, including name, Social Security number and date of birth.
- Business name, legal structure, date of formation and state where registered.
- Business tax ID (EIN or SSN).
- Annual revenue and a brief description of your business.
- Legal business documentation, including business license, DBA certificate, partnership agreement or articles of organization, depending on your
business entity type
If you apply online or over the phone, Wells Fargo will provide you with instructions on how to supply your documentation. If you visit a branch location to apply, all owners, partners and key executives will need to be present in order to complete an application.
Where Wells Fargo business checking stands out
Caters to growing businesses: Wells Fargo offers three core business checking accounts
You can also take advantage of other services — from Wells Fargo's business loans
Expansive branch access: With more physical branch locations than any other bank in the United States, you’re never far from a Wells Fargo banker. This is a major plus for business owners who travel frequently throughout the U.S.
Business owners can also withdraw cash, deposit checks, transfer funds between their Wells Fargo accounts and deposit cash for no additional charge at any of Wells Fargo’s more than 11,000 ATMs. But be aware, there are fees (from Wells Fargo and the ATM owner) for using your debit card at non-Wells Fargo ATMs in the U.S. and internationally.
Customer service: Your business isn’t limited to banker’s hours, and neither is Wells Fargo’s customer service. Business owners can contact customer service for general account issues Monday through Saturday from 7 a.m. to 11 p.m. ET and Sunday from 9 a.m. to 10 p.m. ET. Need help with online banking or bill pay? Customer support is available 24/7.
Where Wells Fargo business checking falls short
No free checking option: All three Wells Fargo business checking accounts carry a monthly maintenance fee, ranging from $10 to $75 per month, depending on the account. Business owners can avoid the fee by maintaining a $500 balance, however, which is lower than many competitors.
While monthly fees are not uncommon, there are plenty of options for free business checking accounts
Low transaction limitations: It’s not uncommon for banks to cap transactions on business accounts, but Wells Fargo’s limits are lower than its competitors. The bank’s entry-level account includes 100 fee-free transactions per month, with each additional transaction costing 50 cents. Bank of America’s Business Advantage Fundamentals Checking offers twice as many free transactions and charges less for overage.
Don’t want to worry about transaction limits? Consider an online bank like NBKC
High ATM and incidental fees: Using your Wells Fargo business debit card at a non-Wells Fargo ATM will cost you $2.50 per withdrawal, transfer and balance inquiry ($5 if you’re outside of the U.S.). That’s on top of any fees charged by the ATM owner. Wells Fargo also charges a variety of incidental fees that can add up quickly — like $35 for overdrafts and returned items, $31 for stopped payments, and wire fees that start at $15 for incoming transfers. (Wells Fargo waives some of these fees for Navigate and Optimize Business Checking customers.)