BBVA doesn’t offer quite as many accounts as some banks do, but you’ll still have quite a few options to choose from.
BBVA gives you a choice of three business checking accounts.
Each account has a $100 minimum deposit, and they all come with at least one business debit card. All the other details are different though―so you’ll want to put some thought into which account will work best for your business.
If you want just a basic checking account, you’ll probably like BBVA Business Connect Checking. This account doesn’t charge any monthly maintenance fee, and it gives you an unlimited number of (most) transactions. (You only get five in-bank withdrawals and processed checks per month.) That makes it a very affordable account, as long as you keep your usage simple.
If you have more complex banking needs, you might prefer BBVA Business Choice Checking. It does have a monthly fee, but you waive it by keeping a $5,000 average balance, processing $5,000 in merchant services, or by enrolling in BBVA for Your Cause as a nonprofit.
So why pay more for your checking account? Well, your Business Choice Checking account comes with your choice of two “premium features.” You can choose from the following:
- More free transactions each month
- More free cash deposits each month
- Overdraft forgiveness
- A free wire each month
- Unlimited returned deposited items
- Discounted checks
Depending on how you use your business bank account, these features could end up saving you quite a bit of money. And if you need more than two features, you can pay $10 (a month) for each additional feature you want.
If you keep a big account balance, though, then check out BBVA Business Premium Checking. It has the highest maintenance fee. And while you can waive it, it requires some big bucks to do so: either a $25,000 average balance, $25,000 processed with BBVA merchant services, or a $50,000 balance across your BBVA accounts (both personal and business).
BBVA Business Premium Checking lets you earn interest on your account balance. So it’s worth getting if you keep a lot of money in your account. Plus you get more free transactions and cash deposits, and you also get some premium features included (a free wire transfer each month, unlimited returned deposited items, and discounted checks).