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U.S. Bank offers three business checking accounts: Silver Business Checking, Gold Business Checking, and Platinum Business Checking. This review focuses on the Silver Business Checking account, a no-monthly-fee option that offers limited free transactions per statement cycle. New account holders can also earn a welcome bonus (terms apply). While the Silver account is free, it comes with limits on transactions and cash deposits, which may not suit businesses with higher volumes of these activities. U.S. Bank provides a balance between the convenience of online banking and the support of a brick-and-mortar institution.

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Written by:Casey Newton

Top Benefits

  • No Monthly Service Fee: Silver Business Checking does not charge a monthly fee, offering a cost-effective solution for small businesses.
  • Sign-up Bonus: Bonus for new accounts by meeting specific deposit and balance requirements.

Accounts Payable Automation

U.S. Bank integrates well with digital tools, allowing for automated bill payments, ACH transfers, and other accounts payable processes. The platform supports efficient online banking for small businesses managing moderate transaction volumes.

Vendor Payments

With Silver Business Checking, businesses can make payments via ACH transfers, bill pay, or mobile deposits. However, each transaction counts toward the monthly free transaction limit. For businesses with heavier vendor payment needs, upgrading to Gold or Platinum Business Checking may be more appropriate, offering higher transaction limits and more free transactions per month.

Safety and Security

U.S. Bank offers FDIC insurance on deposits up to $250,000. The platform also provides security features like fraud monitoring, encryption, and the ability to manage user access to your business accounts. With its extensive brick-and-mortar presence, businesses can benefit from both online and in-person security measures.

Mobile App

The U.S. Bank mobile app allows business owners to:

  • Manage accounts and transactions
  • Deposit checks via mobile check deposit
  • Pay bills and make ACH transfers 

    The app is user-friendly and complements the bank’s extensive branch network, 
    providing flexibility for managing business banking needs.

Who Should Use This Business Checking?

Silver Business Checking is best for:

  • Small business owners who need a free, basic checking account with low to moderate transaction volumes.
  • Business owners who prefer a blend of online banking convenience and the ability to visit branches when necessary.
  • Those looking to earn a sign-up bonus and meet the deposit requirements for the rewards. 

    If your business requires higher transaction volumes or frequent cash deposits, consider upgrading to Gold or Platinum Business Checking, or explore other accounts with higher transaction limits.

How to Open an Account

You can open a U.S. Bank business checking account:

Online, over the phone, or in-person at one of U.S. Bank’s branches. 

To open an account, you’ll need:

  • Personal information: Social Security number, home address, phone number.
  • Business information: Business name, tax ID, physical address, industry designation, and formation documents.
  • A minimum deposit is required, which can be made via ACH, wire transfer, check, or mobile deposit.

Conclusion

U.S. Bank’s Silver Business Checking offers a solid option for small business owners seeking a fee-free account with access to both online and in-person banking services. While the transaction and cash deposit limits may be restrictive for some businesses, the potential sign-up bonus and no monthly service fee make it a competitive choice. For higher transaction volumes or businesses that handle significant cash deposits, it may be worth exploring U.S. Bank’s Gold or Platinum options, or comparing alternatives from other banks.