The Best Business Checking Accounts

    Let's find the best fit for your business

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    HAVE A QUESTION? WE'LL CALL YOU BACK.

    Or you can call us at (800) 548-8138.

    All Business Accounts Include:

    Transaction

    Free Transactions

    Each account type allows a specific number of free transactions each month. 

    Phone Banking

    First Line Banking

    Check account balances and history, transfer funds, make loan payments and more - 24/7 via telephone.

    Card

    VISATM  Business Check Card and Credit Card

    Check

    Free Check Imaging

    Card Machine

    Merchant Services

    (Optional Service) 
    Accept payments via credit and debit cards through First Bank.

    Overdraft

    Business Overdraft Solutions

    (Optional Services)
    Set up a back-up plan to avoid non-sufficient fund items.

    Online Banking

     Business Internet Banking

    (Optional Packages Available)
    Manage your bank accounts securely and conveniently, online or on the go. 

    Learn More About Business Internet Banking

    Gears

    Cash Management Services

    (Optional Service)
    Optimize your cash flow and manage your bank accounts.

    Learn More About Cash Management Services

    First Class Business Checking

    If your monthly transaction activity is low and predictable, this account is for you. 

    $10/mo.

    $5,000 minimum daily balance OR $10,000 deposit relationship to avoid monthly fee

    $500 opening deposit

    Up to 150 free transactions per month

    $0.35 charge per transaction after 150

    First Business Select Checking

    If you maintain a higher balance and your monthly transaction activity is moderate to high, this account is for you.

    $15/mo.

    $25,000 minimum daily balance OR $100,000 deposit relationship to avoid monthly fee

    $1,000 opening deposit

    Up to 500 free transactions per month

    $0.35 charge per transaction after 500

    First Business Select Plus Checking

    If you maintain a higher balance and you're interested in earning interest on those balances, this account is for you.

    $15/mo.

    $25,000 minimum daily balance OR $100,000 deposit relationship to avoid monthly fee

    $1,000 opening deposit

    Tiered interest plan based on account balance

    Up to 350 free transactions per month.

    $0.35 charge per transaction after 350

    Additional Account Options

    First Business Analysis Checking

    If you maintain higher balances and high transaction activity, this account is for you. 

    $1000 Opening Deposit

    Variable Monthly Service Charge

    Service charges for this account are based on a monthly analysis. Receive earnings credit to offset the monthly fee.

    Let's Talk!

    If you are interested in a checking account bundled with services that meet your specific needs, let's have a conversation.

     

    Sole Proprietor Checking

    If you are a sole proprietor with minimal account activity who wants simple and affordable solutions, this account is for you.

    $500 Opening Deposit

    $5.00 Monthly Service Charge

    Reduce the maintenance fee to $3.95 with enrollment in eStatements OR maintain a $500 minimum daily balance or $5,000 deposit relationship that includes a personal checking account to eliminate the service charge completely. 

    Transaction Limitations Apply

    Up to 50 free transactions per month. A $0.30 charge will be assessed for each transaction over 50.

    Tiered Interest

    Interest is earned based on the account balance.

    Free Internet Banking

    Manage your accounts anytime, anywhere. Access eStatements, transfer money, make payments and much more.

     

    Community Companion Checking

    Designed for local and community-based non-profit organizations with low transaction volume.

    $500 Opening Deposit

    $5.00 Monthly Service Charge

    Reduce the maintenance fee to $3.95 with enrollment in eStatements OR maintain a $500 minimum daily balance or $5,000 deposit relationship to eliminate the service charge completely. 

    Transaction Limitations Apply

    Up to 50 free transactions per month. A $0.30 charge will be assessed for each transaction over 50.

    Tiered Interest

    Interest is earned based on the account balance.

    Free Internet Banking

    Manage your accounts anytime, anywhere. Access eStatements, transfer money, make payments and much more.

    Are you ready to take managing your business to the next level?

    SCHEDULE A MEETING HAVE A QUESTION? WE'LL CALL YOU BACK.
    Woman doing business accounting

    Business Overdraft Protection

    Cover overdrafts by automatically transferring funds to your business checking account from another business account you have at First Bank. For just $5 per transfer*, you can avoid the inconvenience of "non-sufficient funds". 

    What Else You Should Know

    Business man with card

    Business Overdraft Privilege

    If your business needs additional protection, Overdraft Privilege allows you to overdraw your account up to the disclosed limit for $29 per item in order to pay a transaction. Even if you have Business Overdraft Protection, Business Overdraft Privilege is still available as secondary coverage if needed. 

    Standard coverage includes checks, ACH-automatic debits, recurring debit card payments, online Bill Pay items, internet banking transfers, telephone banking, and teller window transactions. 

    Extended coverage includes all transactions in the standard coverage PLUS ATM withdrawals and everyday debit card transactions with your consent.

    What Else You Should Know

    On-line banking has simplified both our work and business operations tremendously. Re-occurring expenses are scheduled and paid each month without a second thought-- saves time, fewer checks and less postage. Monthly reports make accounting simple, too. We use the First Bank banking app on our phones, too. It keeps us "plugged in" to our accounts, makes bill-paying or moving funds from account to account a snap. We've even used the app while traveling abroad. As hectic as life can get at times, ways to simplify can make all the difference.

    -Gaye M.

    Chamber

    First Bank Richmond has been an integral part to the Chamber’s investment to the community. Whether through the School is Cool perfect attendance program, soft skill training for high school seniors or through advocacy and engagement, First Bank Richmond is a leader. With both their financial contributions as well as the donation of time and talent from their leadership team, we can easily credit them for much of our success. First Bank Richmond’s value to Wayne County goes far beyond their role as a business.

    -Melissa V., Wayne County Area Chamber of Commerce

    First Bank Richmond helped us finance our new farm. The staff at First Richmond was, kind, informative and helped us through the entire process. Ths staff kept us informed on the process from the day we start the loan application and was there with us when we closed.. Thanks so much!

    -Rodney K.

    Frequently Asked Questions

    What items are considered transactions?

    Transactions include deposits, deposited items, in-clearing checks, electronic debits and electronic credits.

    What documents are needed to open a business checking account?

    The documents required to open a business checking account depend on the classification of the business.

    All of our accounts require two valid forms of identification for each owner, partner, managing member, or authorized signer on the account. 

    Here's are some of the documents you will need to open your account:

    Sole Proprietorship

    • Social Security or EIN Number
    • Sole Proprietorship Resolution of Authority
    • Assumed Name Certificate (if applicable)

    Limited Liability Company (LLC)

    • EIN Number (One person LLC may use SSN)
    • LLC Authorization Resolution
    • Articles Stamped "Filed'" or Certificate of Existence
    • Operating Agreement (should state who is authorized to open the account, usually the managing member)

    Corporate Accounts: Non-Profit, For-Profit, Government Entity

    • EIN Number
    • Corporate Resolution
    • Certified copy of Articles of Incorporation or Certificate of Existence
    • Certificate of Good Standing, address and date of birth on all authorized signers

    Club or Civic Organization

    • EIN Number
    • Resolution of Lodge, Association, or other similar organization
    • Bylaws or similar document outlining the purpose of the organization

    If you have questions regarding your necessary documentation, any of our new account representatives will be happy to assist.

    Do I have to reside locally to open a deposit account?

    First Bank will not accept new deposit accounts outside of our local market area unless the customer has a previous transactional account. The market area is defined as any of the counties we have a branch in or a contiguous county to a branch location.

    © 2024 First Bank Richmond
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    20 North 9th Street
    P.O. Box 937
    Richmond, IN 47375

    Routing Number: 274970791

     

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