Checking accounts to fit the needs of your business
Whatever stage your business is in — whether you’re a start-up, a company in growth mode or a well-established organization — RBFCU has three business checking accounts designed to provide greater value and choices.
Business checking account options:
Basic Business Checking
- No monthly maintenance fee
- 50 free monthly items (additional items 25¢ each)
Businesses that have low monthly item volumes requiring a simple account
Preferred Business Checking
- $5 monthly maintenance fee
- 250 free monthly items (additional items 25¢ each)
Mid-size businesses with moderate monthly item activity
Elite Business Checking
- $15 monthly maintenance fee
- Unlimited items* with no additional fees
High-volume, established or growing businesses
*Item: Any check, ACH funds transfer, teller cash withdrawal, ATM withdrawal, debit card purchase, fee, charge or other amount that is added to or subtracted from your balance.
How to open a business checking account
To open a new account, contact Remote Member Assistance at 210-945-3300, ext.66950, then choose option 2.
Make your business checking free
Monthly account maintenance fees will be waived if you meet any of the following criteria:
- $50,000+ business loan balance
- ACH origination agreement with RBFCU
- Merchant or payroll processing through RBFCU’s provider
- Enroll in Business Elite Pro*
*The cost for this enhanced service is $20/month plus 25¢ per ACH transaction.
All business checking accounts also include the following benefits and features:
- $1 minimum balance to open
- Access to convenient mobile and online services, such as the RBFCU Mobile app, Bill Pay, paperless statements and Mobile Deposit
- Free business debit card with 24/7 fraud monitoring and zero liability for unauthorized purchases
Get valuable rebates when you use your RBFCU Mastercard® Business Freedom Debit Card with Mastercard Easy Savings®
Take advantage of automatic rebates at more than 50,000 merchants when you use the RBFCU Mastercard Business Freedom Debit Card. There’s no enrollment fee, no coupons and no codes. Transactions must be processed as a credit to qualify.*
Your savings will be applied to your RBFCU business account each month — automatically. Click here for frequently asked questions about Mastercard Easy Savings.
*Purchases must be processed as a credit transaction. Sign or select “credit” when using your Business Freedom debit card. If prompted for PIN, select cancel and sign.
Use your RBFCU Business Freedom Debit Card to qualify for these rebates:
Should I own or lease my business location?
What is my business worth today?
How long will it take to repay my business loan?
Which business loan term should I choose?
How can I open a business checking account?
Currently business accounts are not available to open through the online application process. Many new members prefer to establish their relationship with RBFCU and open a business account at a branch location so they can have one of our account opening experts walk them through the process.
If you have any questions, please contact Remote Member Assistance at 210-945-3300, ext. 66950, then choose option 2.
Can I open a business checking account online?
You currently cannot open an RBFCU Business Checking Account online. However, call 210-945-3300, ext. 66950, then choose option 2, and one of our Remote Member Assistance representatives will assist you.
I have a business loan with RBFCU. Do I get a discount on my business checking?
Account fees will be waived for businesses that have a business loan balance over $50,000.
How do I choose my business checking account type?
Members may choose the type of account based on estimated transactions per month. To request a specific business checking account type, you may initiate the process by contacting our Remote Member Assistance team at 210-945-3300, ext. 66950, then choose option 2, or send a secure message through your Online Banking account.
What counts as an item for a monthly transaction on my business checking account?
An item is a line item on your statement. Items include any deposit1, check2, ACH funds transfer, teller cash withdrawal, ATM withdrawal, debit card purchase, non RBFCU fee, charge or other amount added to or subtracted from your balance with the exception of RBFCU fees.
1Checks deposited at a branch in one single transaction are considered one item. Separate deposits are considered one item each. Cash deposits (any cash and check deposit combination made in one deposit is considered one item), or any electronic deposit.
2Cleared checks (each check that clears your account is one item).
Program subject to change without notice. Restrictions apply. Rebates currently available for qualifying eligible purchases made with an RBFCU Business Freedom Debit Card. Participating merchants and rebate offers subject to change. You'll receive Mastercard Easy Savings® Program rebates on top of merchant discounts. Click here for Mastercard Easy Savings terms and conditions.
To open a business account, RBFCU personal accounts of all principal owners must be in good standing. Programs and fees subject to change. Certain information regarding the nature and transaction types of your business will be gathered at the time of account opening. Check cashing is not available on business accounts, however, you may deposit and withdraw the funds. We do not offer Money Service Businesses (MSB) accounts. The Department of the Treasury and FinCEN defines a Money Services Business (MSB) as a business that conducts more than $1,000 in business with one person in one or more transactions on the same day in one or more of the following services: Money Orders, Traveler’s Checks, Money Transmission, Check Cashing, Currency Exchange, Currency Dealing and Stored Value. For complete details, contact our Remote Member Assistance team at 210-945-3300 , ext. 66950, then choose option 2 (toll-free).