In this case, you must keep a minimum of $1,500 in your account at all times. So let’s say you open a basic business checking account with a minimum balance requirement of $1,500. If so, your business checking account balance cannot drop below this minimum at any time during the month or your statement cycle. Some banks require a minimum balance to waive the monthly service fee. Here’s how these different balance requirements work: 1. Some banks will waive these fees if you maintain a minimum balance, a minimum daily balance, a minimum combined balance, or a minimum monthly average balance. To do so, you must keep a certain amount in your business checking account. The good news is that you can often avoid monthly service fees. But, these fees can range anywhere from $8 to $12 a month. Monthly maintenance fees vary widely by bank. Business checking accounts are no exception. Many banks charge customers for the privilege of having a checking account. However, comparison shopping is one of the best ways to cut how much you spend each month on bank fees. It’s important to compare the features, terms, and fees of a basic business checking account.īank fees are known to rise. What Are the Bank’s Balance Requirements? *Fee is automatically waived for first 3 months of account opening. Maintain a linked Merchant Services account (excludes Pogo® from PNC Bank).Use a linked business credit card to make a minimum of $1,000 in eligible purchases in the billing cycle, or.Maintain an average monthly balance of $1,500.Make a qualifying transaction from a BB&T Merchant Services account.
Your business is a charitable non-profit organization and you provide proof of 501(c)(3) tax status from the IRS.Have a Fifth Third Wealth Management or Fifth Third Preferred Checking® account with a completed Relationship Consent form, or.Spend $500 a month on your Fifth Third business credit cards.Maintain a combined total balance of $3,500 across your business checking, savings and CDs.Maintain a daily minimum balance of $1,500.Product is only eligible for a non-profit waiver of the monthly fee. Maintain a monthly minimum balance of $500.become a Preferred Rewards Business member.Spend at least $250 per month in new net qualifed debit card purchases.Maintain a $5,000 combined average monthly balance.Maintain a linked Chase Private Client Checking or Chase Premier Platinum Checking personal account.Maintain a monthly minimum balance of $1,500, or.$15 (or $12 if you enroll in paperless statements) Monthly Fees for Business Checking Accounts at Top U.S.
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