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  TIAA Bank Business Interest Checking
TIAA Bank Business Interest Checking Unaffiliated

TIAA Bank Business Interest Checking

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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) 0.05%

TIAA Bank Business Interest Checking Review

TIAA Bank Business Interest Checking is offered by TIAA Bank, founded in 1918 and based in New York, NY. TIAA Bank Business Interest Checking is available in 51 states across the USA.

Key Takeaways
  • Higher than average APY. TIAA Bank Business Interest Checking has an annual percentage yield of up to 0.05%, which is higher than the national average interest rate on savings accounts. Note that you must keep a minimum balance of $100000.
  • 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.
TIAA Bank Business Interest Checking Pros & Cons
Pros Cons
  • Available in all 50 states.
  • Interest-yielding account.
  • No signup bonus.
  • Does not offer mobile check deposits.
  • Does not provide access to a nationwide ATM network.
  • Does not come with a debit card
  • Not FDIC-insured.
  • Higher than average wire transfer fees.
  • Monthly service charge.
TIAA Bank Business Interest Checking FAQ

Are business checking accounts from TIAA Bank federally insured?

No, your TIAA Bank business checking accounts are not insured by a federal insurance agency. This means that if TIAA Bank were to fall into financial difficulties, your deposits are not covered by a government backed insurance fund like the FDIC or NCUSIF.

What APY does TIAA Bank Business Interest Checking offer?

TIAA Bank Business Interest Checking Rates & Terms
Description
APY (Annual Percentage Yield) 0.05%

TIAA Bank Business Interest Checking offers an APY of 0.05% (APY stands for annual percentage yield, rates may change). However, to earn interest you must keep a minimum balance of $100000.

What are the account minimums for TIAA Bank Business Interest Checking?

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

TIAA Bank Business Interest Checking Account Minimums
Description Amount
Minimum Initial Deposit $1500
APY Minimum Balance $100,000
Minimum Balance to Avoid Monthly Fee $5,000

What fees does TIAA Bank Business Interest Checking charge?

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

TIAA Bank Business Interest Checking Fees
Description
ATM Fee: In-Network 0
Check Copy 5
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) $6
Wire Transfer Fee - Domestic (Outgoing) 15
Wire Transfer Fee - International (Incoming) $8
Wire Transfer Fee - International (Outgoing) 30

What features and perks does TIAA Bank Business Interest Checking offer?

This account includes the following features:

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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

Break from the commercial banking norms with insights, service and rates that will move your business ahead. Earn a competitive yield on all account balances with our Business Interest Checking Account.

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 Balance to Earn APY 100,000
Minimum Opening Deposit Starting at $1,500
ATM Fee: In-Network 0
Online Bill Pay Fee $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 (Incoming) $6
Wire Transfer Fee - Domestic (Outgoing) 15
Wire Transfer Fee - International (Incoming) $8
Wire Transfer Fee - International (Outgoing) 30
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of Identity
  • Business Formation Documents
  • Government Issued Photo ID
  • Social Security Number
Account Features
  • Free Bill Pay
  • Mobile Check Deposit
  • Interest Bearing Account
  • 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
APY (Annual Percentage Yield) 0.05%

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