- Editor Rating
- Rated 3.5 stars
- Very Good
- Wells Fargo Business Choice Checking
- Reviewed by:
- Published on:
- Last modified:
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.
If you don’t necessarily need in-branch service, you may want to take a look at the Capital One Spark Business Checking online account. It truly is a free Business Checking account as there is no monthly fee, no transactions limit, and no cash deposits limit.
Click the button below to go to the Wells Fargo Business Choice Checking page.
See These Top Pages At MoneysMyLife:
- Best CD Rates | Find & Compare CD Rates March 2018
- CIT Bank Promotions: Online Money Market Account Earns 1.75% APY
- Best Savings Accounts And High Yield Rates March 2018
- Best Bank Account Promotions And Bonuses March 2018
- Chase Total Checking Account $200 Coupon Available Online Now
- Chase Premier Plus Checking℠ Review: $300 Coupon Bonus
- Ally Invest $200 Cash Bonus/Commission-Free Trades Promotion
- Chase Coupon Promo Codes: $200, $300, $350, $500 (March 2018)
- BBVA Compass Bank Bonuses & Promotions For Checking, Savings And More
- Chase Bank Business Checking Promotion: $200 Sign-Up Cash Bonus