When starting a business, it is always important that you take full control of your finances. Whether you are a sole proprietor or in the process of starting a larger operation, it is definitely within your best interest to find an account that not only fits your financial needs, but also allows you to keep track of your daily tasks as well as allowing you to handle your budgets in an efficient manner.
With a new Business Account from Commerce Bank, you are able to bank with ease knowing that no matter which options you choose, there is definitely an account for you.
In addition, every Business Account from Commerce Bank comes with a wide selection of account features specifically designed to match the way you bank. Be sure to keep on reading to learn all about the Commerce Bank Business Checking Account Features.
You can also view our list of the Best Free Business Checking Accounts.
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Table of Contents
Commerce Bank currently offers small business owners three different business accounts to cater to your needs. Each account options will require you to open a separate Personal Account such as a checking, savings, money market, CD or consumer IRA balances.
However, do not be discouraged, whenever you open an new account and meet the balance requirements, you are able to waive the monthly fees!
Below, we have listed the different requirements associated with each Business Checking options:
Simply combine your personal and business account and loan balances.
- Monthly Fee: No monthly fee (with minimum balance – $25,000 total deposit balances/$25,000 total loan balances or $40,000 total combined deposit & loan balances. Otherwise, there is a $25 monthly fee if minimum combined balance requirement is not met.)
- Transactions: Up to 300 free transactions per month
Three ways to qualify:
- Maintain Total Deposit Account Balances of: $25,000 (includes business and personal checking, savings, money market, CDs and consumer IRA balances)
- Total Loan Balances of: $25,000 (includes outstanding balances in business loans, personal installment loans, home equity loans and credit lines)
- Combined Deposit and Loan Balances of: $40,000 (includes all balances in your personal deposits, business deposits, plus your outstanding balances in business and personal loans)
- $100 minimum to open.
- Monthly Fee: No monthly fee (with minimum balance – $2,500 minimum daily balance in myBusiness Select account or $5,000 in combined balances in business & personal deposit accounts: checking, savings and money market. Otherwise, there is a $9 monthly fee if not met. For complete details, ask for the Small Business Checking Fee Schedule.)
- Transactions: Up to 150 transactions each month
This small business checking account is best suited light volume businesses/small organizations..
- $100 minimum to open.
- Monthly Fee: Owner must maintain a personal checking account in order to waive the monthly fee. For details on which personal checking accounts are eligible, ask for the Small Business Checking Fee Schedule. If personal checking account is not maintained, a $5.00 monthly fee applies.
- Transactions: Up to 25 transactions p
Free Transactions Per Month
Depending on which Business Checking options you choose, you will have access to a limited amount of free transactions per month. These transactions include paper and electronic (ACH) debits, credits and deposited items, and Online Bill Pay-generated checks and ACH debits.
Additional transactions over the stated limit are $0.50 each. The Business Visa Debit Card is free, but the use of the products may count towards the account’s transaction limit.
Free Unlimited Commerce ATM Transactions
You will be able to gain access to unlimited Commerce ATMs whenever you have opened a new Business Checking Account. With unlimited ATM transactions from Commerce Bank, you won’t have to worry about any impending ATM fees whenever you deposit or withdraw funds from your account.
Online & Mobile Banking
With your Business Checking Account, you will be able to take advantage of the freedom that comes with your account, meaning you will be able to access your access anytime, anywhere. With this easy and secure method, Commerce Bank will give you 24-hour access to your account information.
When you sign up for online banking, you will also gain access to paperless statements. Having paperless statements will definitely help you cut down on your paper clutter through monthly statements via email. You will be able to log in, view and print your Paperless Statements at any time.
Business Visa® Debit Card
A necessary part of running your own business is definitely having the easy and convenience of a Business Visa® Debit Card.
With this small business debit card, Commerce Bank give you the convenience and security to make being the boss a little bit easier.
You will be able to pay your bills in a hassle free manner as well as having the safety of the built-in fraud protection.
Few ATM & Branch Locations
- Commerce Bank only serves 11 States and has a rather small network of over 184 branches and ATMs spread throughout these states: Colorado, Illinois, Indiana, Iowa, Kansas, Michigan, Missouri, Ohio, Oklahoma, Tennessee, Texas.
- Although most banks nowadays offer paperless statement, you can still choose to go with the traditional method that is paper statements. However, keep in mind that you will need to provide $3 per paper statement/paper statement with images.
Other Business Accounts to Consider
• Open a Huntington Unlimited Plus Business Checking Account
• Earn $750 bonus when you open a Huntington Unlimited Plus Business Checking account and make total deposits of at least $20,000 within 60 days of account opening.
• The $750 bonus will be deposited into your account after all requirements are met.
• Enjoy overdraft protection with no annual fee or deposit-to-deposit overdraft protection with no transfer fee!
• Bonus Service. Choose one bonus service such as fraud tools, discounts on payroll services, or Huntington Deposit Scan®
• Ideal for businesses with higher checking activity and greater cash flow needs.
• Open a Huntington Unlimited Business Checking Account
• Earn $400 bonus when you open a Huntington Unlimited Business Checking account and make total deposits of at least $5,000 within 60 days of account opening.
• The $400 bonus will be deposited into your account after all requirements are met.
• Get Overdraft Protection Account with no annual fee, or Deposit-to-Deposit Overdraft Protection with no transfer fee.
• Enjoy unlimited transactions. And up to $10,000 in cash or currency deposits monthly in-branch or at an ATM at no charge.
• Designed for businesses with higher checking activity and greater cash flow needs.
• Bonus service. Choose one bonus service such as fraud tools, discounts on payroll services, or Huntington Deposit Scan®.
• Open your Huntington Business Checking 100 Account today!
• Earn $200 bonus when you open a Huntington Business 100 Checking account and make total deposits of at least $5,000 within 60 days of account opening.
• The $200 bonus will be deposited into your account after all requirements are met.
• Overdraft Protection Line of Credit available, or Deposit-to-Deposit Overdraft Protection with no transfer fee.
• Do business without a minimum checking account balance fee or maintenance fee.
• No monthly maintenance fee applies to this account.
• Enjoy up to 100 monthly transactions. And deposit up to $5,000 in cash or currency monthly in-branch or at an ATM at no charge.
• Ideal for start-ups and small businesses with lower balances and checking activity.
• Bonus Service Trial. Free 120-day trial of a fraud tool: Reverse Positive Pay.
Whether you are a small business or looking to expand the financial future of your business, having a new business bank account from Commerce Bank is definitely a big step towards your financial endeavors.
With a new account, you will be able to take charge of your funds and investments associated with your business. In addition, you will be able to balance out the finances in your personal life and professional life!
Once you have opened a business checking account as well as a Business Visa® Debit Card with Commerce Bank, you may want to see our updated list of Best Business Credit Cards to further expand upon your line of credit for your business.
However, if you’re looking to start another business bank account, make sure to check out our Best Business Bank Bonuses from our list of nationwide business accounts!