Exchange Bank Business Checking Accounts
Three checking tiers built for businesses of every size — from the first-year sole proprietor to the multi-location commercial enterprise. No hidden fees, transparent transaction limits, and treasury add-ons that scale with your operation.
Exchange Bank offers three business checking account tiers: Basic Business Checking for low-volume operations, Business Advantage for growing companies, and Commercial Checking for high-transaction enterprises. All accounts are FDIC insured up to $250,000 per depositor, include online and mobile banking, and can be paired with treasury management services. Contact Exchange Bank at (800) 397-3962 to open an account or discuss which tier fits your business. NMLS #480228 · Equal Housing Lender.
Account Tiers
Three Business Checking Options at Exchange Bank
Every Exchange Bank business checking account includes free ACH credits, online bill pay, and a debit card. The tiers differ by monthly transaction volume, cash deposit allowances, and access to commercial treasury tools.
Basic Business Checking
Built for startups and sole proprietors managing lower transaction volumes. No minimum balance after account opening. Monthly fee waivable with qualifying activity. Up to 100 transactions per month included at no charge.
- $10/month (waivable)
- 100 included transactions
- $5,000/month cash deposit limit
- Online & mobile banking included
Business Advantage Checking
The right fit for growing businesses that process payroll, receive customer payments, and move cash weekly. Includes 500 transactions per month, a higher cash deposit ceiling, and optional positive pay enrollment.
- $25/month (waivable)
- 500 included transactions
- $20,000/month cash deposit limit
- Positive pay available
Commercial Checking
Designed for high-volume businesses, municipal entities, and companies that need full treasury management integration. Unlimited transactions, negotiated earnings credit rate, and dedicated relationship manager access.
- Custom pricing
- Unlimited transactions
- Unlimited cash deposits
- Full treasury suite access
Side-by-Side Comparison
Exchange Bank Business Checking — Account Features at a Glance
Compare monthly fees, transaction allowances, cash deposit limits, and treasury add-on availability across all three tiers.
| Feature | Basic | Business Advantage | Commercial |
|---|---|---|---|
| Monthly Fee | $10 (waivable with $1,500 avg daily balance) | $25 (waivable with $5,000 avg daily balance) | Custom / Earnings Credit Rate |
| Transactions Included | 100 per month | 500 per month | Unlimited |
| Per-Item Fee (over limit) | $0.40 per item | $0.25 per item | N/A |
| Cash Deposit Limit | $5,000/month free | $20,000/month free | Unlimited |
| Cash Deposit Overage Fee | $0.25 per $100 over limit | $0.15 per $100 over limit | Negotiated |
| Treasury Add-Ons | ACH credit, bill pay | ACH origination, positive pay | Full suite (ACH, positive pay, sweep, lockbox, remote deposit) |
| Online & Mobile Banking | Included | Included | Included |
| Relationship Manager | Shared team | Dedicated banker | Named relationship manager |
Rates and fees subject to change. Contact Exchange Bank at (800) 397-3962 for current terms.
What Every Exchange Bank Business Checking Account Includes
Regardless of tier, every Exchange Bank business checking account comes with a business debit Mastercard, free incoming wire transfers, and access to the Exchange Bank business mobile banking app. The app supports multi-user access with role-based permissions — a useful feature for businesses where bookkeepers, accountants, or office managers need view-only or limited transaction capabilities.
Business bill pay is included at no additional charge. Schedule recurring vendor payments, pay utilities, or manage contractor invoices directly from your online banking dashboard. Statements are available as eStatements with up to seven years of history, making tax season and audits considerably less painful.
- Free business debit Mastercard with purchase controls
- Free incoming domestic wire transfers
- Multi-user online banking with role-based permissions
- Business bill pay at no additional monthly cost
- eStatements with seven-year history archive
- Mobile check deposit up to $10,000 per day
Moving Your Business Checking to Exchange Bank
Switching business checking accounts feels more daunting than it usually is. Exchange Bank's account switching service gives you a dedicated banker who maps your existing automatic payments, payroll direct deposits, and ACH relationships before you close the old account. Most businesses find the transition manageable within two to three weeks when handled systematically.
Start by opening your new Exchange Bank business checking account with a small opening deposit. Your banker will help you generate a list of vendors and payors to notify. Run both accounts in parallel until all recurring items have migrated, then close the prior account once the balance clears. Exchange Bank provides written checklists and timeline guidance at no charge.
- Dedicated banker guides the full transition
- Checklist covers ACH, payroll, and vendor payments
- Parallel account operation during transition period
- No fee for account switching assistance
FAQ
Exchange Bank Business Checking — Common Questions
Answers to the questions business owners ask most before opening or switching a business checking account.
Does Exchange Bank require an EIN to open a business checking account?
Most business entity types — LLCs, corporations, and partnerships — must provide an Employer Identification Number (EIN) to open a business checking account at Exchange Bank. Sole proprietors without employees may use their Social Security Number in lieu of an EIN, though the bank may still request one for tax reporting purposes. Obtaining a free EIN takes about 15 minutes at irs.gov.
Can a sole proprietor open a business checking account at Exchange Bank?
Yes. Sole proprietors are eligible for Exchange Bank business checking. You will need a government-issued ID, proof of business activity such as a DBA filing or business license, and your SSN or EIN. The Basic Business Checking tier is well suited for sole proprietors with lower monthly transaction volumes. Separating business and personal finances is a sound practice regardless of business size.
Can I open an Exchange Bank business checking account online?
Eligible sole proprietors and single-member LLCs can begin the application online at Exchange Bank. Corporations, partnerships, and multi-member LLCs may be required to complete identity verification at a branch under Bank Secrecy Act and FinCEN beneficial ownership rules. Have your EIN, formation documents, and government-issued ID ready before starting either path.
Can I link a business savings account to my Exchange Bank business checking?
Yes. Exchange Bank business checking accounts can be linked to a Business Savings or Business Money Market account for automatic sweep transfers, overdraft protection, and simplified cash management. Linked accounts share a single online banking login for consolidated visibility. See the Treasury Management page for details on sweep account arrangements.
How do I switch my business checking to Exchange Bank from another bank?
Exchange Bank offers a business account switching kit through your relationship manager. The process involves opening the new account, updating direct deposits and automatic payments to the new routing and account numbers, and closing the old account once all pending transactions have cleared. Most businesses complete the transition within two to three business weeks. Call (800) 397-3962 to start.
Related Services
More Exchange Bank Business Banking Solutions
Your checking account is the foundation. These services build on it.
Business Savings
Earn interest on operating reserves with a linked Business Savings or Money Market account.
View Savings →Treasury Management
ACH origination, positive pay, remote deposit capture, and sweep accounts for cash control.
Explore Treasury →Business Loans
Term loans, lines of credit, and equipment financing with local underwriting decisions.
See Loan Options →Merchant Services
Payment processing with next-day funding, POS integrations, and PCI-compliant infrastructure.
Payment Processing →Ready to Open an Exchange Bank Business Checking Account?
Call (800) 397-3962 to speak with a business banker or start your application online. FDIC insured. NMLS #480228. Equal Housing Lender.