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  TIAA Bank Business Checking

TIAA Bank Business Checking

in Business Checking Accounts from TIAA Bank · fdic

Unaffiliated

TIAA Bank Business Checking

Unaffiliated

in Business Checking Accounts from TIAA Bank · Member FDIC

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Highlights
Monthly Fee $0 - $14.95
ATM Fee: Out-of-Network N/A
Minimum Balance to Avoid Monthly Fee Starting at $5,000
APY (Annual Percentage Yield) N/A

TIAA Bank Business Checking Review

TIAA Bank Business Checking is offered by TIAA Bank, a bank founded in 1918 and based in New York, NY. TIAA Bank Business Checking is available in 50 states (and Washington, DC).

Key Takeaways
  • Charges a monthly fee. This account charges a monthly service fee of up to $14.95, but the fee is waived if you keep a minimum balance of $5,000.
  • Large minimum initial deposit. You need a minimum deposit of $1,500 to open an account. This is a relatively large minimum initial deposit when compared to the other accounts that we track.
  • Bill pay. Pay your bills to practically anyone in the United States through TIAA Bank.
TIAA Bank Business Checking Pros & Cons
Pros Cons
  • Available in all 50 states.
  • Access to physical branches.
  • Free debit card and the option to lock/unlock the card if lost or stolen
  • Access to a nationwide network of ATMs.
  • No charge on incoming domestic or international wire transfers.
  • No signup bonus.
  • Does not earn interest.
  • Does not offer mobile check deposits.
  • Higher than average wire transfer fees.
  • Monthly service charge.
TIAA Bank Business Checking FAQ

Are business checking accounts from TIAA Bank federally insured?

Yes, your TIAA Bank business checking accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What APY does TIAA Bank Business Checking offer?

TIAA Bank Business Checking is not an interest bearing account.

What are the account minimums for TIAA Bank Business Checking?

TIAA Bank Business Checking requires a minimum initial deposit of $1,500 to open an account.

TIAA Bank Business Checking Account Minimums
Description Amount
Minimum Initial Deposit $1500
Minimum Balance to Avoid Monthly Fee $5,000

What fees does TIAA Bank Business Checking charge?

This account charges a monthly maintenance fee of up to $14.95.

TIAA Bank Business Checking Fees
Description
ATM Fee: In-Network 0
Check Copy 5
Debit Card Replacement Fee $0
Foreign Transaction Fee (Debit Card) 2%
Monthly Fee $0 - $14.95
NSF Fee 30
Online Bill Pay Fee $0
Paper Statement Fee 5
Returned Deposit Fee (Domestic) $10
Returned Deposit Fee (International) $10
Stop Payment Fee $25
Wire Transfer Fee - Domestic (Incoming) $0
Wire Transfer Fee - Domestic (Outgoing) 25
Wire Transfer Fee - International (Incoming) $0
Wire Transfer Fee - International (Outgoing) 35

What features and perks does TIAA Bank Business Checking offer?

This account includes the following features:

  • Check images with statement - Reconciling your accounts and complying with document retention standards is easier when you have access to a copy of your checks.
  • Fraud monitoring - TIAA Bank Business Checking monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location or you make a sudden string of costly purchases.
  • Free Bill Pay - Bill Pay allows you to pay bills easily from your account.
  • Mobile Banking Services - TIAA Bank Business Checking allows you to manage your money online.
  • Nationwide ATM network - Conveniently transact at a nearby ATM.
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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From TIAA Bank Business Checking

A basic checking account that gets the job done. For businesses that don’t carry a heavy transaction load, here’s the low fee checking answer you’ve been after. If your business isn’t big on monthly transactions, this could be the right account for it. Get up to 200 transactions and 10 online bill payments free each month. And because every dollar matters in business, you’ll also be treated to a full suite of expertly crafted everyday banking solutions. Get to know your business finances like never before. We’ve built this account with one key goal in mind: to keep more of your business funds working for you.

Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

Minimum Balance to Avoid Monthly Fee Starting at $5,000
Minimum Opening Deposit Starting at $1,500
ATM Fee: In-Network 0
Debit Card Replacement Fee $0
Online Bill Pay Fee $0
Wire Transfer Fee - Domestic (Incoming) $0
Wire Transfer Fee - International (Incoming) $0
Check Copy 5
Foreign Transaction Fee (Debit Card) 2%
Monthly Fee $0 - $14.95
NSF Fee 30
Paper Statement Fee 5
Returned Deposit Fee (Domestic) $10
Returned Deposit Fee (International) $10
Stop Payment Fee $25
Wire Transfer Fee - Domestic (Outgoing) 25
Wire Transfer Fee - International (Outgoing) 35
Account Features
  • Free Bill Pay
  • Nationwide ATM Network
  • Check Images with Statement
  • Mobile Banking
  • Fraud Monitoring
  • Debit Card Lock/Unlock
  • Fraud Protection
  • Debit Card
  • Branch Access
  • Member FDIC
  • Expense Management

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