If you need access to affordable business checking products that can accommodate a low to moderate transaction volume, consider First Financial Bank’s account lineup. It offers three types of business checking accounts:
- Business 500: A basic account with no monthly fee and 500 fee-free transactions.
- Business Interest Checking: An interest-earning account with a $10 monthly fee and 200-fee free transactions.
- Business Account Analysis: An analyzed checking account with a $20 monthly fee and an earnings credit.
First Financial Bank’s other business products include savings accounts, credit cards, and commercial loans. The bank operates exclusively in Texas, where it has around 80 brick-and-mortar locations and over 70 ATMs. You are required to visit a branch to open an account.
Pros
- No monthly fee for basic account
- 500 free transactions for basic account
- Optional overdraft protection
Cons
- Limited branches in Texas
- $100 opening deposit requirement
- High wire transfer fees
Features
- Online banking
- Autobooks, Hurdlr, and PayRecs integration
- 24-hour phone banking
- Business check card
- Free sweep transfers for analyzed accounts
- Treasury management
How First Financial Bank Stacks Up With Its Competitors
When First Financial Bank Is a Good Fit
- You want to bank without a monthly fee: There is no monthly fee for First Financial Bank’s basic account, Business 500.
- You have a low-to-moderate transaction volume: The Business 500 account comes with 500 fee-free transactions per month. Transactions include deposits, cash deposits, items deposited (foreign or otherwise), and debits paid.
- You want to save on fees for business software: Through First Financial Bank, you get free access to the accounting solution Autobooks and the international payments app PayRecs. It also connects with the expense tracker Hurdlr, which charges a monthly fee of $6.
When To Consider First Financial Bank Alternatives
- You want a bank with wide geographic coverage: First Financial Bank operates exclusively in Texas. If nationwide access to in-person services is a priority, consider Chase, which operates approximately 4,700 branches in all 48 mainland states. Read our Chase business checking review for a breakdown of the three accounts.
- You seek to earn interest on a fee-free checking account: Business Interest Checking charges a monthly fee of $10. If you want to earn interest without paying a monthly fee, we recommend Bluevine. Its Standard Checking account earns 2.0% annual percentage yield (APY) on qualifying balances up to $250,000. Refer to our review of Bluevine business checking for detailed information.
- You send and receive wire transfers regularly: Under First Financial Bank, all incoming wire transfers cost $15 while outgoing wire transfers cost $25 for domestic recipients and $100 Outbound international wire transfer fee for non-analyzed account users.. for international recipients. The financial technology (fintech) platform Mercury offers fee-free wire transfers. Our Mercury business checking review can help you decide if it fits the bill.
First Financial Bank Business Checking Overview
Nonanalyzed Accounts
Analyzed Account
First Financial Bank Business Checking Requirements
You are required to visit a First Financial Bank branch to open a business account. During the application process, you and other authorized signers will be asked to provide the following information:
- Name
- Address
- Date of birth
- Identifying documents, such as a government-issued ID
The First Financial Bank business checking requirements include providing relevant business records. You must contact the bank for the documents you need to submit for your business structure.
First Financial Bank Business Checking Features
Online Banking
You can access many business banking services through the First Financial Bank website and mobile app (available for iOS and Android). The following activities are available:
- View balances, account details, and transaction information
- Download transaction history and account statements
- Create real-time or scheduled fund transfers between linked First Financial accounts
- Place stop payments on checks
- Make electronic or check payments to any United States merchant or individual
- Deposit checks remotely through your phone camera (mobile) or a provided scanner (website)
Users gave high ratings for First Financial Bank’s mobile app. On App Store[1], it has 4.6 stars from around 6,000 reviews while on Google Play[2], it has a 4.5 rating from about 3,400 reviews.
Most users stated that the app is user-friendly and easy to navigate. They also appreciated the convenience of retrieving their statements and accessing their accounts. Some also expressed satisfaction with the regular app updates and alerts feature.
However, a few reviewers complained that the app takes a long time to load. They mentioned having experienced glitches when changing their passwords and reported that the app gave inaccurate updates of their current balances and did not provide information on their pending transactions.
Software Integrations
Online Banking gives you access to the following platforms:
- Autobooks: This accounting solution lets you create, send, and track electronic invoices and receive payments. Additionally, it uses your checking account data to create detailed transaction histories and financial reports.
- Hurdlr: For a monthly fee of $6, Hurdlr tracks your business expenses and mileage to identify possible tax deductions. It also uses your banking data to help you file your taxes and estimate what you’ll owe each quarter.
- PayRecs: This online app lets you hold currency accounts and send and receive international payments. There are no fees for maintaining an account.
24/7 Phone Banking
First Financial Bank’s automated telephone banking system lets you conduct banking activities over the phone by calling (800) 588-4925.
Overdraft Protection
This optional service protects you from overdraft fees by transferring funds from a savings account or line of credit automatically whenever you make a transaction that reduces your account balance to a negative number.
There is a $5 fee per sweep transfer if you own a nonanalyzed account. If you own an analyzed account, sweep transfers are free.
Treasury Management
First Financial Bank offers the following treasury management services:
- Automated clearing house (ACH) direct payments
- Remote deposit
- Merchant services
- Lockbox services
- Zero balance accounts
- Concentrate cash
Other First Financial Bank Business Products
There are two types of business savings accounts for small businesses:
- The Business Savings account charges $3 each month, waivable with an average ledger balance of $500.
- The Business Money Market account has a $12 monthly fee, waivable with an average ledger balance of $2,500.
Both accounts earn interest based on balances and offer six free debits. The minimum opening deposit requirement is $100.
First Financial Bank’s lending options include the following:
- Working capital loans
- Agricultural loans
- Equipment loans
- Floor plan loans
- Commercial real estate (CRE) loans
- Residential construction loans
- Letters of credit
- Oil and gas loans
- Small Business Administration (SBA) SBA 7(a) loans
- SBA 504 loans
First Financial Bank offers low-rate, cashback-earning, and rewards-earning Visa credit cards. All cards come with:
- Fee-free employee cards
- Free online expense reporting tools
- Mobile payment capability
- Protection through zero fraud liability
- 24/7 cardmember service
First Financial Bank Business Checking Reviews From Users
Specific First Financial Bank business checking reviews are unavailable on third-party sites. The bank received a rating of 5.0 on WalletHub[3], but only one review was posted. The customer praised the bank’s pleasant and responsive customer service. On DepositAccounts[4], the bank has a rating of 3.0, and the two reviews available were written a couple of years ago.
Frequently Asked Questions (FAQs)
Yes, First Financial Bank is a member of the Federal Deposit Insurance Corp. (FDIC). The bank’s deposit accounts—which include checking, savings, and money market—are covered by the FDIC up to $250,000 per depositor and account ownership.
First Financial Bank business checking accounts have an opening deposit of $100.
Yes, First Financial Bank has a mobile app called First Financial Bank Texas, which is available for iOS and Android users. You can download it from the App Store or Google Play.
First Financial Bank has approximately $13.05 billion in assets as of the bank’s most recently filed call report in December 2023.
Bottom Line
Among First Financial Bank’s three accounts, Business 500 is the best fit for organizations needing affordable business checking. The account’s lack of monthly fees and generous monthly allowance for fee-free transactions helps organizations save on day-to-day banking fees. Integrations with software like Autobooks, Hurdlr, and PayRecs also help reduce business paperwork costs.
User review references:
1App Store
2Google Play
3WalletHub
4DepositAccounts
