Business Advantage Checking
A Small Business Bank Account
Our Business Advantage checking account includes a suite of cash management, payment, reporting, and fraud services.
- Open with $100
- Enjoy no maintenance fees with a minimum balance of $15,0001
- Complimentary access to payment and invoicing solutions
- Fraud tools to keep your business safe
Business Advantage Checking Account Benefits
With Business Advantage Checking, you're gaining a partner dedicated to your success.
Complimentary Processed Items
Complimentary $10,000 cash-in processed per statement; $0.30 for each additional $100 cash-in processed.
ACH Credit Originations
Up to ten complimentary ACH credit originations per statement; $1.00 for additional originations.
Business Account Protection
Check Positive Pay with optional payee match at no additional cost on up to two accounts.
Electronic Payment Protection
ACH Positive Pay at no additional cost on up to two accounts.
Small Business Banking and Payment Benefits
Zelle® for Business2
Zelle® is a fast and easy way for businesses to send, request, and receive payments.
Business Beetle
Experience high-touch support with our Business Beetle delivery service.*
Business Advantage Checking Includes
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Business debit cards featuring Mastercard Easy Savings™ rebate platform
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Business Online and Mobile Banking** to manage finances anytime, anywhere
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Business rewards credit card for simplified spending and expense management +
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Diverse loan and line of credit options to support your business growth+
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Download account information into Quickbooks^ for accurate and up-to-date financial insights
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Email and text alerts** to keep you informed of account activities
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Exceptions processing to handle unique financial situations efficiently
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Insurance and risk management solutions to navigate business uncertainties++
Business Advantage Checking FAQs
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With a Business Advantage checking account, you can enjoy several benefits at no cost with a $15,000 average balance, including:
- Processing up to 350 items per monthly statement cycle.
- Initiating up to 10 ACH Credit transactions per statement.
- Complimentary processing of $10,000 cash-in per statement.
- Enhanced fraud protection with Check Positive Pay and ACH Positive Pay services.
- Convenient mobile deposits4, business debit cards, and online bill pay.
- Integration with Quickbooks^ for financial insights.
- Immediate payment capabilities with Zelle® for Business.2
- Sending invoices and accepting electronic payments with Autobooks.3
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With Business Advantage Checking, small business owners have access to services like Zelle® for Business2, Autobooks3, and a suite of cash management, payment, reporting, and fraud services.
Value Classic Checking is a small business checking account that has lower monthly transactions and opening balance requirements, which makes a great account for businesses looking for additional pricing options. -
To apply for a Business Advantage Checking account, you can:
- Find a local banker near you to schedule an appointment to open your account
- Visit here to submit a request for contact and find information on what to bring for your appointment
- Find a location to stop by and begin your account opening process
We look forward to seeing you soon! -
TowneBank provides several financial management tools, including:
- Business Online and Mobile Banking for managing finances anytime, anywhere.**
- Email and text alerts** to keep you informed of account activities.
- Transaction and image search for easy tracking and auditing.
- Standard reporting tools for clear financial oversight.
- Statements and notices to stay updated on account status.
- Exceptions processing for handling unique financial situations efficiently.
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Depending on your business type you may need different types of identifying information. Additional documentation may be requested based on your company's organizational structure. Also, please have your company representative bring two (2) forms of identification (one with a photo). Accounts may only be opened by an authorized representative from your company, which includes company officers or the owner.
Acceptable Photo Identification for company representatives
- Unexpired driver's license
- Unexpired passport
- Unexpired military ID
- Unexpired state-issued ID card
- Social security card
- Voter registration card
- Health insurance card
- Birth certificate
- Employment ID card
- Pay stub
- Automobile registration card
- Unexpired work visa
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Depending on your business type you may need different types of identifying information. For your convenience, we have provided a list of documents required to open a deposit account. Additional documentation may be requested based on your company's organizational structure.
Corporation
- IRS Acknowledgement Letter for TIN
- Corporate bylaws
- For non-profits: IRS 501(c)(3) letter for non-profit organizations or tax-exempt documentation
- IRS Acknowledgement Letter for the TIN
- Operating Agreement
- IRS Acknowledgement Letter for the TIN
- Partnership Agreement
- Fictitious Name Certificate / Certificate of Trade Name
- A Certificate of Limited Partnership (if necessary)
- Social Security Card or the IRS Acknowledgement Letter for the TIN
- Business License (VA Only)
- Fictitious Name Certificate / Certificate of Assumed Name
- IRS Acknowledgement Letter for the TIN
- Meeting minutes for the EIN / Statement of Organization form / Association Bylaws / Certification on letterhead signed by Secretary authorizing signatory for the Association
- For Non-Profits: IRS 501(c)(3) letter for non-profit organizations or tax-exempt documentation
We look forward to welcoming you to the Towne Family. To get started, simply find a location near you and stop by at your convenience Monday-Friday. Be sure to check the hours of operation for your location, as hours may vary. Click here for more information on opening a Business Savings/Checking account.
Connect with Us!
Let TowneBank be the cornerstone of your financial strategy, empowering you to focus on what you do best – growing your business.
1 A $50.00 monthly maintenance fee will apply if the minimum balance is not met. Additional discounted volume-based charges may apply on pre-set bundle services based on usage. Additional fees could apply if altering services from the pre-set option.
2 Zelle® and the Zelle® related marks are wholly owned by Early Warning Services, LLC and are used herein under license. U.S. checking or savings account required to use Zelle®. Transactions between enrolled consumers typically occur in minutes. In order to send payment requests or split payment requests to a U.S. mobile number, the mobile number must already be enrolled with Zelle®. To send or receive money with a small business, both parties must be enrolled with Zelle® directly through their financial institution’s online or mobile banking experience. For your protection, Zelle® should only be used to send money to friends, family, and other people or businesses you trust. Payments made with Zelle® are like sending cash and may not be able to be recovered.
3 Neither TowneBank, nor any of its subsidiaries or affiliates, is affiliated with Autobooks, Inc (Autobooks). The accounting services referenced herein are provided exclusively by Autobooks and are subject to member’s agreement to Autobooks’ terms of use. Certain restrictions and fees apply. TowneBank may be entitled to receive fees from Autobooks for member’s use of accounting services. Use of accounting services from any provider, including Autobooks, is solely at the customer’s election. Autobooks may have a different Privacy and Security policy.
4 Mobile check deposit is subject to eligibility and further review. Deposits are subject to verification and not available for immediate withdrawal. Deposit limits and other restrictions apply.
* Service available as an add-on for an additional cost.
** Your mobile carrier's web access charges may apply.
^ Quickbooks is a registered trademark of Intuit. Enroll via your financial software.
+ Normal Credit approval criteria apply. Credit approval and fees apply for ACH.
++ Insurance and investment products offered are Not bank deposits or obligations, Not FDIC-insured, Not insured by any government agency, Not guaranteed by TowneBank, and may go down in value.