Wells Fargo Business Choice Checking Account Review

Update: This account is no longer available. See the Wells Fargo Initiate Business Checking Account for small businesses.

The Wells Fargo Business Choice Checking account shouldn’t necessary be considered a free Business Checking option, as it does have a $14 Monthly Service Fee. However, that fee is fairly easy to waive each month and it’s a solid account choice among all the largest banks in the nation, so we’ve included it on our list of the best free Business Checking accounts.

We’ll review how to waive the monthly fee and all the features of this account below.

Business Choice Checking Overview

Monthly Fee? $14; see how to waive it below
Minimum Opening Deposit? $25
Transactions Limit? 200 monthly
Cash Deposit Limit? $7,500 monthly
Availability: AK, AL, AK, AR, CA, CO, CT, DC, DE, FL, GA, IA, ID, IL, IN, KS, MA, MD, MI, MN, MO, MS, MT, NC, ND, NE, NJ, NM, NV, NY, OH, OR, PA, SC, SD, TN, TX, UT, VA, WA, WI, WY

Wells Fargo is the largest bank in the United States in terms of branch locations, so ease of access is certainly a factor in picking this account.

You can easily waive the $14 Monthly Fee by having 10 debit card purchases or bill payments a month. Other ways of waiving the fee include:

Maintaining a $7,500 average ledger balance, OR
Maintaining $10,000 in combined balances (business checking, savings, CDs and credit), OR
Linking to a Direct Pay service through Wells Fargo Business Online Banking, OR
Qualifying transactions from a linked Wells Fargo Merchant Services account, OR
Qualifying transactions from a linked Wells Fargo Business Payroll Services account

With the limit on transactions being 200 per month, this means you’ll be charged 50 cents for each transaction overage.

There’s also a $7,500 monthly limit on the number of cash deposits you can make without a fee, which is better than many other traditional banks. You’ll get charged 30 cents for each additional $100 in cash deposits over the monthly limit.

With all the limitations and the monthly fee that you have to actively waive, the Wells Fargo Business Choice Checking account falls to the bottom of the list of Best Free Business Checking accounts. But, if you need in-branch service and have several convenient locations close by where you live, this may be a good fit. The Chase Total Business Checking account is a solid competitor.

Click the button below to go to the Wells Fargo Business Choice Checking page.

With the Business Choice Checking account you get:

Multiple ways to avoid the monthly service fee
The purchasing power and ATM convenience of a business debit card
Secure access with Wells Fargo Business Online with Business Bill Pay
Online statements with access to check images
Online cash flow management tools such as the Business Spending Report
Mobile banking with remote deposit from your mobile device
Special offers and discounts are available to Wells Fargo Business Choice customers. Contact a banker for details
A discount on your first check order

Account Features

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