BankUnited provides decent business checking products for organizations that generate a low to moderate monthly transaction volume. There are two types of regular checking accounts:
- A $12-per-month basic account with 150 free monthly transactions and a monthly cash processing allowance of $10,000.
- A $20-per-month premium account with 300 free monthly transactions and a monthly cash processing allowance of $15,000.
With high cash processing limits, these accounts suit cash-reliant businesses. Your account will also come with a free Visa debit card and access to online and mobile banking.
When I updated this BankUnited business checking review, I visited the bank’s website and checked its Business Fee Schedule to ensure the accuracy of the following information:
- Product features
- Monthly fee
- Opening balance
- Required balances
- Account opening requirements
- ATM fees
- Cash deposit fees
- Annual Percentage Yield (APY)
- Monthly transaction limits
- Cash deposit allowances
- Branch accessibility
- Other business banking product
I also compared the bank’s fees, interest rates, and free transaction allowance with other providers to see if it’s competitive. It did offer higher free transactions than the other traditional bank (U.S. Bank) listed in the competitors’ table below. However, you are required to maintain a fixed average monthly balance to waive its monthly fee.
BankUnited Alternatives & Comparison
| Account Name | Monthly Service Fee | APY | Free Monthly Transactions | |
|---|---|---|---|---|
 | Primary Business Checking | $12Waived for the first two months (new accounts only) ; waivableAverage monthly balance of $1,500 or a combined minimum daily balance of $4,500 in related business deposit accounts | None | 150, then 40 cents per item |
| Visit BankUnitedMember FDIC | ||||
 | Business Essentials Checking | None | None | Unlimited digital transactions and 25 free teller transactions |
| Visit U.S. BankMember FDIC | ||||
 | Standard | None | 1.3%Applies to qualifying balances up to $250,000 | Unlimited |
| Visit BluevineProvider is a fintech platform backed by and FDIC-insured through a supporting bank partnership with Coastal Community Bank. | ||||
 | Business Checking | None | None | Unlimited |
| Visit NovoProvider is a fintech platform backed by and FDIC-insured through a supporting bank partnership with Middlesex Federal Savings. | ||||
Check out our roundup of the best small business checking accounts for additional recommendations.
BankUnited Business Checking Reviews From Users
Few BankUnited business checking reviews have been published on third-party review websites. I noticed that ratings are low to average, but we’re aware that unsatisfied clients are often the most outspoken when reviewing their banking experiences. BankUnited has a rating of 2.0 on DepositAccounts[1] from one review and 2.7 on Yelp[2] from around 10 reviews.
Most of the comments focused on the bank’s customer service. Some long-time clients stated they had positive experiences and received courteous and professional treatment. Others found the bank’s representatives accommodating and efficient. However, some remained unsatisfied and commented that some staff were rude to them.
BankUnited’s mobile app has a rating of 4.8 on the App Store[3] from about 1,400 reviews and 4.4 on Google Play[4] from around 400 reviews. Although some users reported they encountered login issues when they used the app, these comments were written in the earlier months of 2024. Many still found the app intuitive, easy to use, and reliable.
BankUnited Business Checking Terms
| Primary Business Checking | Business Express Checking | |
|---|---|---|
| Required Opening Deposit | $100 | $100 |
| Monthly Fees | $12; waivableAverage monthly balance of $1,500 or a combined minimum daily balance of $4,500 in related business deposit accounts | $20; waivableAverage monthly balance of $5,000 or a combined minimum daily balance of $10,000 in related business deposit accounts |
| APY | None | None |
| Transaction Limit Before Fees | 150 | 300 |
| Excess Transaction Fee per Item | 40 cents | 40 cents |
| Domestic Wire Transfer Fees | Incoming: $15 Outgoing: $25 | Incoming: $15 Outgoing: $25 |
| International Wire Transfer Fees | Incoming: $25 Outgoing (USD & non-USD): $45 | Incoming: $25 Outgoing (USD & non-USD): $45 |
| Cash Processing Fees | $1.50 per $1,000 after $10,000 in cash deposits and withdrawals | $1.50 per $1,000 after $15,000 in cash deposits and withdrawals |
| ATM Fees | None at BankUnited and Allpoint ATMs; $2.50 at out-of-network ATMsThird-party operator fees may apply. | |
BankUnited Business Checking Requirements
To open a business bank account with BankUnited, you need to submit the following:
- Name
- Physical address
- Telephone number
- Email address
- Date of birth
- Social security number
- Government-issued ID or other identifying documents
- Employer identification number
There may be additional BankUnited business checking requirements depending on your business entity type. Refer to our article on how to open a business bank account for a list of documents that banks typically require.
BankUnited Business Checking Features
| Description | |
|---|---|
| Business Debit Card |
|
| Online and Mobile Banking |
|
| Treasury Solutions |
|
| Physical Checkbooks | Contact the bank for details |
| Customer Service | Phone: 877-779-2265 Monday to Friday, 8 a.m. to 8 p.m. ET Saturday, 9 a.m. to 2 p.m. ET |
Other BankUnited Business Products
- Commercial Analysis Checking
- Business Savings
- Money Market
- CDs
- Lines of credit
- Term loans
- Real estate loans
- SBA financing
- Business equipment financing
- Credit cards
- Commercial deposit accounts
- Commercial lending solution
Our related resources:
- Business Money Market vs CD
- What Is Equipment Financing? Loans vs Leases
- What Is a Business Line of Credit
- Types of Commercial Real Estate Loans
- SBA Loans: Types, Rates & Requirements
Frequently Asked Questions (FAQs)
Yes. BankUnited is a safe bank and is a member of the FDIC. Deposits are FDIC-insured up to $250,000 per depositor and account ownership category.
Yes, BankUnited is a real bank headquartered in Florida. It offers a full array of banking products for consumer and business markets and has approximately $35.4 billion in assets as of the bank’s most recently filed call report in June 2024.
BankUnited was founded in 1984 and has branches in Florida, New York, and Dallas, Texas.
BankUnited’s top traditional bank competitors in the Florida market are Chase, Bank of America, Wells Fargo, PNC, Regions Bank, and TD Bank.
Bottom Line
While BankUnited offers serviceable business checking products at low monthly fees, they may not give the best value for money. Competitor banks provide accounts with similar transaction allowances while charging lower monthly fees or having easier fee waiver requirements. However, those who have a low or moderate transaction volume, generate a high monthly cash transaction volume, and need access to a wide range of lending products may find BankUnited business checking accounts a great fit.
User review resources:
[1]DepositAccounts
[2]Yelp
[3]App Store
[4]Google Play
