Last Updated: 04/18/2025
TIAA Bank Small Business Checking
Unaffiliated
in Business Checking Accounts from TIAA Bank
Last Updated: 04/18/2025
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Highlights
Monthly Service Fee
$0(Verified 03/19/2025)
ATM Fee: Out-of-Network (within the U.S.)
N/A
Minimum Average Balance to Avoid Monthly Service Fee
N/A
APY (Annual Percentage Yield)
0.1%(Verified 06/21/2024)
TIAA Bank Small Business Checking Review
TIAA Bank Small Business Checking is offered by TIAA Bank, a bank founded in 1918 and based in New York, NY. TIAA Bank Small Business Checking is available in 50 states and Washington, DC.
Key Takeaways
- Low annual percentage yield (APY). The maximum annual percentage yield for this account is only 0.1% .
- No monthly maintenance fees. This account does not charge any monthly account fees.
- 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.
- No ATM fees. TIAA Bank Small Business Checking does not charge fees on ATM transactions .
- Up to $15 in ATM fee rebates. This account will reimburse you for ATM fees (see terms and conditions for details).
- Bill pay. Pay your bills to practically anyone in the United States when you enroll in TIAA Bank mobile or online banking.
TIAA Bank Small Business Checking Pros & Cons
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TIAA Bank Small Business Checking FAQ
Are business checking accounts from TIAA Bank federally insured?
Yes, your deposits are insured 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 Small Business Checking offer?
| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| APY (Annual Percentage Yield) | 0.1% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TIAA Bank Small Business Checking offers an APY of 0.1% (APY stands for annual percentage yield, rates may change). However, to earn interest you must keep a minimum balance of $0.01.
What are the account minimums for TIAA Bank Small Business Checking?
TIAA Bank Small Business Checking requires a minimum initial deposit of $1,500 to open an account.
| Description | Amount |
| Minimum Initial Deposit | $1500 |
| APY Minimum Balance | $0.01 |
What fees does TIAA Bank Small Business Checking charge?
The good news is that this account does not have a monthly service charge.
| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Monthly Service Fee | $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Paper Statement Fee | Starting at $5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ATM Fee: In-Network | Starting at $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NSF Fee | $30 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Returned Deposit Fee (Domestic) | Starting at $10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Card Replacement Fee (Standard Delivery) | Starting at $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Online Bill Pay Fee | Starting at $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stop Payment Fee | Starting at $25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Check Copy | $5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Foreign Transaction Fee (Debit Card) | Starting at 2% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Wire Transfer Fee - US Domestic (Outgoing) | Starting at $25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Wire Transfer Fee - International (Outgoing) | Starting at $35 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Wire Transfer Fee - International (Incoming) | Starting at $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Returned Deposit Fee (International) | Starting at $10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Wire Transfer Fee - US Domestic (Incoming) | Starting at $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ATM Reimbursement Monthly Limit | Starting at $15 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What features and perks does TIAA Bank Small Business Checking offer?
This account includes the following features:
- ATM reimbursement - This account will reimburse you for the ATM fees charged by other networks up to a monthly maximum of $15.
- 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 Small 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 Small Business Checking allows you to manage your money online. This includes depositing checks in your account with your smartphone.
- Nationwide ATM network - Conveniently transact at a nearby ATM.
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Message from TIAA Bank Small Business Checking
Hours of Operation
Sunday
Closed
Monday
8:00AM - 9:00PM
Tuesday
8:00AM - 9:00PM
Wednesday
8:00AM - 9:00PM
Thursday
8:00AM - 9:00PM
Friday
8:00AM - 9:00PM
Saturday
Closed