CNB Bank Business Checking Review 2023
Tricia has nearly two decades of experience in commercial and federal government lending. Her expertise is highlighted throughout small business loan content on Fit Small Business.
This article is part of a larger series on Business Banking.
If your Pennsylvania- or western New York-based business needs a business checking solution with low fees, high transaction limits, and fee-free cash deposits, CNB Bank is a great option. It offers fee-free basic business checking and interest-earning checking with low monthly fees. Its other products include savings accounts, small business lending products, and credit cards.
What We Like
- No monthly fee or minimum balance requirements for basic accounts
- 200 fee-free transactions for basic accounts
- Fee-free cash deposits
What's Missing
- Only serves Pennsylvania and Western New York; only 18 branches
- $10,000 minimum balance requirement on interest-earning checking accounts
- Additional monthly fees for online bill payment services
Features
- Basic and interest-earning checking options
- Free standard Business eBanking
- ePay available with eBanking for a low monthly fee
- Free Business Debit Card
- First time credit (worth $71) available for client’s choice of checks except for Small Business Checking
How CNB Bank Stacks Up With Its Competitors
Annual Percentage Yield (APY) | Monthly Fee | Transaction Limit Before Fees | Minimum Opening Deposit | |
|---|---|---|---|---|
 Small Business Checking | None | None | 200 per month; then 25 cents per item | $50 |
 Fundamentals Business Checking | None | $16; waivable | 200 per month; then 45 cents per item | $100 |
 Business Complete Checking | None | $15; waivable | 20 paper transactions per month; then 40 cents per item | None |
When CNB Bank Is a Good Fit
- You make cash deposits regularly: Cash and coin deposits are fee-free with no limits on deposit amounts.
- You make 200 or fewer transactions per month: Two of its business checking accounts, Small Business Checking and Business Interest Checking, offer 200 fee-free transactions per month.
- You want access to small business loans: It offers Small Business Xpress (SBX) Loans, which can give qualified businesses access to term loans or lines of credit for as little as $5,000 and up to $100,000.
When CNB Bank Is Not a Good Fit
- You want nationwide access to in-person branches: It operates only in Pennsylvania and western New York. Businesses wanting access to more branches should choose Chase, which has 4,700 branches across 48 states. Check out our Chase Business Checking review to determine which of its three accounts is right for you.
- You want unlimited fee-free transactions: Its Small Business Checking and Business Interest Checking accounts offer only 200 fee-free transactions per month, whereas Novo provides an unlimited number of fee-free transactions. However, it only allows cash deposits through money orders. If this setup works for you, you can read our Novo Business Checking review to learn more about the provider’s features.
- You want to make unlimited online bill payments fee free: Its unlimited bill pay is only available through Business eBanking’s ePay bill payment service, which charges a low monthly fee for usage. Most online-only banks allow unlimited online bill payments, and First Internet Bank would be a good choice since it also offers a full range of banking services. Our First Internet Bank Business Checking review provides detailed information about the solution’s offerings.
If your small business meets one or more of these scenarios, head over to our guide on the best small business checking accounts for additional recommendations.
CNB Bank Business Checking Overview
CNB Bank Business Checking Requirements
Applicants can only open a business banking account by talking to a representative at one of CNB Bank’s physical locations. For business account inquiries, you can call customer service at (800) 492-3221. They’re available from Mondays to Fridays, from 8 a.m. to 5 p.m. ET, and on Saturdays, from 9 a.m. to noon ET. Another alternative is to send an email to CustomerServiceCenter@CNBBank.bank.
For a checklist of documents most banks typically require, refer to our guide on how to open a business bank account.
CNB Bank Business Checking Features
Basic & Interest-earning Checking Options
CNB Bank offers three types of checking accounts.
- Small Business Checking is a free, noninterest-bearing checking account that offers 200 fee-free transactions per month and charges 25 cents per item thereafter.
- Business Interest Checking earns variable interest. Like Small Business Checking, it offers 200 fee-free transactions per month and charges 25 cents for every item after the limit. It charges a monthly fee of $10, which can be waived by maintaining a minimum balance of $10,000.
- Business Custom Interest Checking earns interest and offers unlimited fee-free transactions per month. It charges a monthly fee, which CNB Bank customizes according to each client’s specific business needs.
Digital Banking
CNB Bank offers two digital banking options: the Browser-based Business eBanking and the GoMobile app.
Business eBanking comes in two levels.
- Standard Package lets users do the following:
- Access CNB Bank accounts
- Transfer funds between accounts
- View check images
- View deposit images and the items within the deposit
- Full Package users will also be allowed to:
- Originate direct deposit of payroll checks with automated clearing house (ACH) capabilities
- Initiate wire transfers
Business eBanking also offers a paid service called ePay, which lets users pay unlimited bills. The bill management service lets users make single payments or schedule payments for monthly bills. The monthly fee for ePay is $5 for Small Business Checking accounts. The fee varies for Business Interest Checking and Business Custom Interest Checking.
Meanwhile, through the GoMobile app, which is available on iOS and Android, users can:
- Check account balances
- Review transaction histories
- Transfer funds between accounts
- Deposit checks with Mobile Deposit
CNB Bank’s GoMobile app has average ratings on the App Store (2.8 out of 5) and Google Play (3.6 out of 5). We read through the app’s reviews and saw several complaints from customers. These include slow loading times and an overly complicated log-in process.
CNB Bank Business Check Card
The CNB Bank Business Check Card is a business Visa debit card that can be used anywhere Visa debit cards are accepted. It can be used as an ATM card at Visa/Plus and MoneyPass networks. CNB Bank provides up to five free debit cards per business.
Other CNB Bank Business Products
Nonprofit/Public Funds Interest Checking
This interest-earning account caters to nonprofits and municipalities with low banking activity seeking a checking solution that provides savings. It offers 100 fee-free transactions per month and free cash deposits. Its $10 monthly fee is waivable if you maintain a $5,000 minimum balance.
Savings Accounts
This earns interest on excess funds and allows an unlimited number of fee-free in-person withdrawals at CNB Bank offices. It charges an undisclosed monthly maintenance fee, which can be waived with a minimum balance of $1,000. CNB Bank also offers Non-Profit/Public Savings accounts, which require a minimum balance of $100 to waive monthly fees.
The minimum opening deposit for both types of business savings accounts is $100.
Business Certificates of Deposit (CDs)
These earn locked interest rates. The minimum deposit requirement to open a CD is $500. CD terms range from 1 month to 7 years. CDs are considered FDIC-insured investments.
Lending Products
CNB Bank offers SBX loans and lines of credit, commercial term loans, commercial lines of credit, and letters of credit. SBX Loans let qualified companies access term loans or lines of credit for as little as $5,000 and up to $100,000. To qualify, companies must have been in business for at least two years, and each customer can open only one line of credit.
Credit Cards
CNB Bank’s business credit card is the Visa Business Rewards Credit Card, a rewards-earning credit card with contactless technology. Through participation in the ScoreCard Rewards program, the card earns one point per $1 spent on net purchases. Points can be redeemed for gift cards, merchandise, and travel.
CNB Bank Business Checking User Reviews
On WalletHub1, CNB has a 2.8 out of 5 rating with 30 reviews but only around 10 comments. Most of the feedback points to a bad customer service experience. One reported dealing with erroneous insufficient fund charges, while another claimed a lawsuit was filed by the bank for a business loan. There are no available specific reviews about its business checking accounts.
Bottom Line
With its lack of a monthly service charge, 200 fee-free transactions, and fee-free cash and coin deposits, the Small Business Checking account of CNB Bank is an excellent choice for companies based in Pennsylvania and far western New York looking for an affordable and comprehensive business checking product.
However, the bank charges extra fees for online bill payment, a feature that many banks in the market offer for free. Additionally, with only 18 physical locations, the bank isn’t a great fit for businesses operating outside Pennsylvania and western New York.
User Review Resources:
1WalletHub
