Small Business Bank Business Checking Accounts Review

Account Features

Small Business Bank offers three business checking accounts. Its Sole Proprietor account is designed primarily with independent contractors in mind. The Micro Business account is for business entities with a single owner while the Small Business account is for businesses with multiple owners. This is a unique way of breaking down business checking accounts and it enables you to quickly identify which account is right for you. Many other business checking account providers distinguish their checking accounts by transaction volume or other features and this can make it challenging to find the right account for you, especially if your business is brand new.

All new business checking accounts include a free small business charge card with EMV chip technology. This is similar to a credit card, except you must pay your charge card balance in full at the end of the month. This gives you the same security benefits as a credit card while possibly reduce the temptation to overspend and carry a balance. You can also get a debit card for your business checking account as well if you prefer to avoid credit altogether.

Fees and Restrictions

Small Business Bank doesn't publish its full fee schedule online, so you'll have to contact the company for this information. But it does say that it doesn't have any monthly maintenance fees, a minimum balance, or a minimum monthly transaction amount. This makes it an especially good fit for small business owners who are just getting their business off the ground or those whose income is sporadic or seasonal. You need at least $5 to open your Small Business Bank account, but this is a much lower opening balance than most other banks require.

The company doesn't address ATMs at all on its website, so it's unclear whether it has a network or whether it will reimburse any ATM fees. But between the debit card and the online and mobile banking, frequent ATM use shouldn't be necessary for most business users.

Account Management and Support

Small Business Bank has surprisingly robust online and mobile banking tools, including mobile apps for Apple and Android devices. They allow you to view your account balance and transaction history, transfer funds between accounts and deposit checks remotely. You can also use the online and mobile tools to locate the branch nearest you if you happen to live near the bank's headquarters in Kansas. Few other banks of Small Business Bank's size have these types of online banking tools.

If you run into any problems with your account, you can contact Small Business Bank via phone or secure message through your account. Customer service is available Monday through Friday, 9am to 5pm Central Standard Time (CST). This is not unusual among smaller banks, but it's something to be mindful of, otherwise you could end up waiting a whole weekend before you can get the assistance you need.

Reputation and Financials

A.M. Best, Moody's and Standard & Poor's don't appear to have ratings for Small Business Bank, but this is not uncommon for a bank of its size. It shouldn't concern customers because Small Business Bank is FDIC-insured. This means that in the unlikely event that the bank would go under, your money is protected up to $250,000 per account.

There aren't many reviews of the bank online, but the ones that do exist are largely positive. The company maintains an A+ rating with the Better Business Bureau (BBB) and it's received a 7.7 out of 10 from over 100 reviewers on TrustPilot. This suggests that most customers are happy with the service they receive from Small Business Bank, which isn't something that all business checking account providers can say.