BB&T Bank Business Checking Accounts Review

Account Features

BB&T has three business checking accounts: the Business Value 50, the Business Value 200 and the Business Value 500. The numbers refer to the number of free transactions you receive per month. The 50 or 200 plan will be a good fit for startups and small businesses, while growing businesses should consider the Business Value 500 plan. The bank also offer specialized checking accounts for nonprofits, legal professionals, and public entities, but you must contact the bank for specifics.

Your perks will vary depending on which account type you choose. All accounts include access to online and mobile banking, plus a debit card that you can customize with your company's logo. All accounts also include discounts on checks purchased through BB&T, though the discounted amount varies depending on which business checking account you go with.

Business Value 200 customers also receive a BB&T Bright Banking personal checking account at no additional cost while Business Value 500 customers get a free interest-bearing Elite Gold personal checking account. These customers also don't have to pay an automatic overdraft transfer fee and they get two free non-BB&T ATM transactions per month.

Fees and Restrictions

The BB&T Business Value 50 plan has no monthly service fee, nor does it require you to maintain a minimum balance, which is unusual among business checking accounts, though you do need a minimum of $50 to open the account. This is an option if you don't have a lot of transactions per month, but some businesses may find the 50 monthly free transaction limit and the $3,500 monthly cash deposit limit is too low. You'll pay extra if you exceed these limits, so consider upgrading to the Business Value 200 account if you anticipate this being an issue.

The Business Value 200 account has a $12 monthly fee, which you can waive if you have a $1,500 average monthly account balance, a $6,000 combined balance in all your personal and business BB&T accounts, a BB&T Merchant Services account, or $1,000 in qualifying BB&T debit or credit card purchases. In exchange, you get 200 free transactions per month and $10,000 in cash processing per month. The free transaction limit is low compared to many other business checking accounts, but the cash processing limit is high, so it may be worth considering if you deal mostly in cash.

The Business Value 500 account has a $25 monthly service fee. You can waive it with a $15,000 average monthly checking account balance, $35,000 combined balance in BB&T accounts, two or more qualifying Merchant Services transactions per month, or $2,500 or more in qualifying purchases with a BB&T credit or debit card. This account gives you 500 free transactions, plus $30,000 in cash processing per month.

The company's fee schedule doesn't say anything about wire transfers, but it's possible that there may be additional fees for this service. Some other banks offer free incoming wire transfers and even a couple free outgoing wire transfers per month, and one of these may be a better fit if you regularly deal with wire transfers.

Account Management and Support

You can view and manage your BB&T business checking accounts online or via the company's mobile app. Set up text and email alerts to notify you of suspicious activity, view account statements, transfer money between accounts, and deposit checks right from your phone. You can also integrate your BB&T business checking account with mobile payment solutions, like Zelle.

If you live near a branch office, you can visit it for support, but if not, that's okay because the company offers phone support from 6 a.m. to midnight Eastern Time and email support for less urgent matters with response times within two to three business days. This is pretty standard for most large banks.

Reputation and Financials

BB&T currently has an A2 rating from Moody's and an A- rating from Standard & Poor's. These are comparable with many other large banks and indicate that the company is more than able to meet its financial obligations. Standard & Poor's also gave the company a Stable outlook rating.

BB&T is a Better Business Bureau (BBB) accredited business and maintains an A+ rating with the organization due to its prompt addressing of consumer complaints. Approximately 5,000 complaints about BB&T have been filed with the Consumer Financial Protection Bureau (CFPB) but this is lower than many of the top banks and only about 600 of those are related to checking accounts.