NBKC Bank’s high-yield business savings is a money market account. If you’re looking for a good Annual Percentage Yield (APY) rate without the stress of maintaining a minimum balance or coming up with a hefty required opening deposit, then NBKC Bank’s Business Money Market account is a great option. You only need a negligible 1-cent balance in your account to earn 2.75% APY. There’s also no minimum opening deposit, an NBKC Bank trademark account feature.
With a decade of banking experience, my solid financial background helps me provide the best answers to our audience in line with the Fit Small Business editorial policy. I strive for accuracy, clarity, and objectivity in writing reviews and guides to ensure that small business owners can access impartial and critical information that supports their business decisions.
I also completed a Business degree and have substantial experience in facilitating account opening, performing KYC, and cross-selling different banking and investment products and services to both retail and preferred clients.
The NBKC Bank business savings review was conducted through careful research by looking at the following criteria:
- Product features
- Monthly fee
- Opening balance
- Required balances
- Account opening requirements
- ATM fees
- Cash deposit fees
- APY
- Monthly transaction limits
- Cash deposit allowances
- Branch accessibility
- Other business banking products
Pros
- 2.75% APY
- 1-cent minimum balance requirement to earn interest
- ATM fee refunds of up to $12 monthly
Cons
- No branches outside Kansas and Missouri
- Only incoming domestic wires are free
Special Offer | N/A |
Opening Deposit Requirement | None |
Monthly Maintenance Fee | $0 |
APY | 2.75% |
ATM Network | Fee-free transactions at NBKC Bank and MoneyPass ATMs |
ATM Fee Reimbursement | Refunds ATM fees up to $12 per month for nonnetwork |
Other Standout Features |
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- You want to earn competitive interest: With a 2.75% APY on balances of 1 cent and above and no maintenance fees, you can open a money market account and earn higher interest compared to other banks’ regular business savings accounts.
- You seek to save on ATM fees: NBKC Bank refunds up to $12 per month for transactions made at nonnetwork ATMs. This is why it’s part of our list of the best business savings accounts.
- You need access to a wide array of bank products: The bank offers business checking, certificates of deposit (CDs), and Small Business Administration (SBA) loans.
NBKC Bank Alternatives & Comparison
Account Name | Monthly Service Fee | APY | Opening Deposit | |
|---|---|---|---|---|
 | Business Money Market | $0 | 2.75% | $0 |
 | Business Savings | $0 | Tiered; 3.85%-4.25% | $0 |
 | Business Savings | $0 | 3.80% | $0 |
 | Business Savings | $0 | 0.25% | $25 |
Money Market Account | $0 | 4.0% on first $1 million; 0.25% above | $25 | |
Best For | Learn More | |
|---|---|---|
| You seek higher earnings: NBKC Bank offers a lower yield for its business savings product compared with Prime Alliance, which provides higher and tiered rates as your balances grow. | |
| You have larger reserve funds you want to protect: NBKC Bank offers the standard FDIC insurance coverage of up to $250,000 for your deposits, whereas Live Oak Bank offers an insured cash sweep service that provides FDIC protection of up to $10 million. | |
| You need additional financing options: Although NBKC Bank extends lines of credit, equipment loans, and CRE loans, TAB Bank offers other types of financing, such as A/R financing, invoice factoring, and asset-based lending. | Read our TAB Bank business savings review |
NBKC Bank Business Savings Terms & Features
NBKC Bank Business Savings Requirements
You can visit NBKC Bank’s website to open a business bank account. You need to be a United States citizen or permanent resident at least 18 years of age. Foreign businesses aren’t allowed to open an account.
Part of the NBKC Bank business savings requirements is providing the following:
- Name
- Valid US mailing address
- Date of birth
- Social Security number or tax identification number (TIN)
- Business information
- Government-issued ID
- Legal business documents
How to Open NBKC Bank Business Savings Account
- Step 1: Visit NBKC Bank, and choose the right savings product for you.
- Step 2: Click the Get Started button.
- Step 3: Enter the required information.
- Step 4: Follow the instructions and submit your documents.
NBKC Bank Business Savings Features
NBKC Bank features many fee-free features, a competitive APY, and mobile banking.
Zero Fees
- $0 monthly fees
- $0 minimum balance requirement
- $0 minimum opening deposit
- $0 fees for online banking, $0 for Bill Pay on your phone, tablet, and desktop
- $0 to deposit checks at a branch or using the NBKC app
- $0 e-statements, $0 for stop payments, whether in-branch or online
- $0 for incoming domestic wires
Competitive APY
The Business Money Market account provides an APY of 2.75% on all balances. You only need to have 1 cent in your account to obtain it. Note that the rates are subject to change without prior notice.
Mobile Banking
NBKC Bank clients can check balances, transfer funds, submit digital wire requests, and view transactions of their savings accounts through the website and the iOS or Android app.
Other NBKC Bank Business Products
NBKC Bank has a full range of banking products, from business CDs and business checking accounts to commercial loans and business solutions.
For a $1,000 minimum opening deposit, you can earn an APY from 2.50% to 4.50%, depending on fixed terms ranging from three months to five years.
NBKC Bank offers a Business Checking account that has no required opening deposit, minimum balance, and monthly fee. It doesn’t earn interest, but you can perform unlimited transactions with no fees. For in-depth product features, read our NBKC Bank Business Checking review.
NBKC Bank offers a wide variety of lending products.
- Line of credit: Businesses can apply for a traditional secured line of credit by providing collateral. They can also choose a real estate line of credit based on their equity in a piece of property.
- Equipment loans: The bank provides financing for equipment and machinery purchases, including inventory and supplies.
- Real estate and construction: For business owners planning to purchase a new property, an SBA 504 loan, a bridge loan, and real estate investment are available.
- Commercial loans: NBKC Bank offers commercial financing for office spaces, retail spaces, multi-family residential real estate, warehouses and industrial spaces, and special-use properties.
- SBA loans: NBKC Bank offers sole proprietors, corporations, and professional partnerships an SBA loan to help provide working capital or finance asset purchases or upgrades.
Our related resources:
- Equipment Financing: Loans vs Leases
- Business Line of Credit & How It Works
- SBA 7(a) Loans: Rates, Requirements & Terms
- SBA 504 Loan & How It Works
NBKC Bank lets you add extra business services to streamline your business operations. For a monthly or annual fee, you can sign up for:
- Desktop deposits: You can deposit checks from the convenience of your home or office using a check scanner.
- ACH debits and credits: You can transfer payroll, pay vendors, collect funds, and reimburse expenses via an electronic transfer.
- Fraud prevention tools: You can automatically match checks with authorized items through a fraud prevention system.
- Autobooks subscription: This is free for the first 60 days, and then it costs $10 each month. Autobooks allows you to create and send professional invoices to your clients’ emails. They can send their payments online through a debit card, credit card, or electronic bank transfer, and payments are deposited directly into your business checking account. You can also review financial reports to track the payments.
NBKC Bank Business Savings Reviews from Users
| Users Like | Users Dislike |
|---|---|
| Easy to set up a bank account | Long hold on checks |
| Well-organized portal | Low limits for payments |
| Good customer service team | Card delays |
Many reviewers have left feedback about the bank on third-party sites, but none are NBKC Bank business savings reviews. What stood out among users was the bank’s excellent customer service. They mentioned that the representatives were informative, responsive, and friendly. Client issues were promptly addressed, and proper guidance was provided.
Some customers, however, gave low ratings and complained that their checks cleared after a week. Others were also unsatisfied with the low amount limits fixed by the bank for online payments. They said their bill amounts were higher than the bank’s pre-set limit. A few also reported receiving their debit cards late.
Here’s how NBKC Bank scored on third-party review sites:
- Trustpilot: 4.9 from over 700 reviews
- WalletHub: 4.9 from more than 10,000 reviews
NBKC Bank’s mobile app received a 4.4 rating from around 900 reviews on the App Store and a 4.3 rating from about 500 reviews on Google Play. Users praised the app’s reliability, stating they had never encountered any bugs or lags. Some also appreciated its clean interface. A few reviewers complained about experiencing a glitch or login issue, but these reviews were over a year ago.
Bottom Line
The Business Money Market of NBKC Bank is an excellent savings account, rewarding business owners with 2.75% APY for all balances and plenty of savings on fees. With both in-person and online banking, plus access to a full suite of NBKC Bank business banking products, NBKC Bank lends great convenience to customers.