This article is part of a larger series on Business Banking.
PlainsCapital Bank offers four business checking products for business owners based in Texas: one basic account, one interest-drawing account, and two analyzed accounts. You can choose a Business Plus checking account if your treasury management needs are simple or select Commercial All Access if you have complex needs.
Along with the checking accounts, online and mobile banking and free ATM access at more than 55,000 Allpoint ATMs are available. The bank’s other business products include a money market account, certificates of deposit (CDs), credit cards, and Small Business Administration (SBA) loans.
The provider is a Federal Deposit Insurance Corp. (FDIC)-insured traditional bank has more than 60 branches in Texas, specifically in Austin, Corpus Christi, Dallas, Fort Worth, Houston, Lubbock, San Antonio, and the Rio Grande Valley. The PlainsCapital Bank business checking requirements include being a Texas resident, 18 years of age, and a United States citizen.
- $100 opening deposit
- Branches limited to Texas
- Only 10 free monthly bill payments
- Free business debit card
- Online and mobile banking
- Free access to over 55,000 Allpoint ATMs
- CDs and Interest on Lawyers’ Trust Accounts (IOLTA)
- Treasury management solutions
- SBA, real estate, and agricultural loans
How PlainsCapital Bank Stacks Up With Its Competitors
Monthly Service Fees
Monthly Transaction Limit Before Fees
Monthly Cash Deposit Fees
Minimum Opening Deposit
Business Basics Checking
Up to $5,000 free, then $1 per $1,000
Frost Business Checking
200 non-electronic items (free unlimited electronic deposits and withdrawals)
Up to $5,000 free, then 25 cents per item
$2 at non-Frost ATMs plus operator charges
Biz Rite Checking
250 items, then 50 cents per item
$3,000 free, then 8 cents per $100
None at IBC ATMs, $2 at non-IBC ATMs
When PlainsCapital Bank Is a Good Fit
- You want a bank that can scale as your business grows: Small businesses with simple banking needs get 150 deposited items, 150 noncard transactions, and unlimited debit card transactions with a Business Basics account. However, when your business grows, you can get higher free transaction limits—specifically 250 deposited items, 250 noncard transactions, and unlimited debit card transactions—with a Business Plus account.
- You need access to treasury management services: Businesses requiring robust treasury management solutions—which include wire services, fraud prevention tools, sweep options, and merchant services—can open a Business Plus or Commercial All Access account to benefit from competitive earnings credit and save on account fees.
- You seek business financing options: PlainsCapital Bank offers several lending products, such as SBA loans, real estate loans, agricultural loans, term loans, and lines of credit.
When PlainsCapital Bank Is Not a Good Fit
- You want to conduct in-person banking outside Texas: While PlainsCapital Bank has plenty of brick-and-mortar branches, they’re limited to Texas. Consider Chase, which has over 5,000 branches nationwide. Read our Chase Business Checking review to learn about the different options for your business.
- You seek to earn a high interest: PlainsCapital Bank offers an interest-bearing checking account, but its 1.0% APY rate is low compared to other providers. You can opt for a Bluevine account, which gives out 2.0% interest for qualifying balances up to $250,000. Our review of Bluevine Business Checking provides details about the account.
- You want to save on ATM fees: When you transact at nonnetwork ATMs, PlainsCapital Bank charges $2 on top of possible surcharges from ATM operators. You can save more with Novo, which refunds all ATM fees at the end of each month. To see if it fits the bill, check out our Novo Business Checking review.
You can find additional providers in our list of the best small business checking accounts.
PlainsCapital Bank Business Checking Overview
PlainsCapital Bank Business Checking Requirements
Opening a business checking account with PlainsCapital Bank requires visiting one of its branches. However, you can open a Business Basics account online. You need to be 18 years of age, a US citizen, and a Texas resident. To open an account, you must submit your:
- Valid identification
- Social Security number or federal tax ID number (TIN)
- US business registration documentation
- Credit/debit card or US checking/savings account to fund your new account
Before opening an account, see our guide on how to open a business bank account. It includes a free downloadable checklist of documents that banks typically require.
PlainsCapital Bank Business Checking Features
Multiple Business Checking Account Options
Business owners can choose between four business checking accounts:
- Business Basics: Ideal for microbusinesses with no treasury management needs, this account provides 150 deposited items, 150 noncard transactions, and up to $5,000 of free monthly cash deposits. To waive its $10 monthly fee, you must maintain a $3,000 average daily balance in your account or a combined balance of $25,000 with a business money market account.
- Business Interest: This account is suitable for trusts and nonprofits, earning a 1.0% interest when you exceed a $5,000 daily balance. It has a monthly allowance of 100 deposited items and 100 noncard transactions. Similar to Business Basics, you get up to $5,000 of free monthly cash deposits and can waive the $20 monthly fee by meeting a $5,000 daily balance or $25,000 combined balance with a money market account.
- Business Plus: Businesses with moderate to high transactions needing basic treasury management solutions may want to consider this account. It provides free transactions at 250 deposited items and 250 noncard transactions. It also offers up to $10,000 of free monthly cash deposits. By meeting a $25,000 daily balance, the $15 monthly fee is waived. It comes with an earnings credit to offset fees.
- Commercial All Access: Designed for businesses with high transactions and vast treasury management needs, this account charges a $20 monthly fee and provides an earnings credit to offset fees. Customers can utilize the full range of advanced treasury management tools and services.
Fee-free Cash Deposits Using Allpoint Networks
PlainsCapital Bank offers more savings to its customers through its Allpoint network partnership. Allpoint has over 55,000 ATMs, which are surcharge-free when you use your PlainsCapital debit card.
Online Bill Payment
PlainsCapital Bank provides up to 10 free monthly bill payments for Business Basics, Business Interest, and Business Plus accounts. If you exceed the free limit, then $1 is charged for every additional bill payment or external transfer.
Online & Mobile Banking
There are several good reviews of PlainsCapital Bank’s mobile banking app. On App Store1, the bank has a 4.8 out of 5-star rating based on 1,400 reviews while on Google Play2, it has 4.2 out of 5 stars from about 100 reviews.
Users mentioned that the app is fast, easy to use, and secure but needs more functionality. However, some recently complained that the new update required reentering credentials often. They also said that the fingerprint login access doesn’t work.
Treasury Management Solutions
PlainsCapital Bank offers a full suite of tools to manage business cash flow with lower costs and risks. It provides various options to receive payments faster, optimize cash allocation, pay local and foreign vendors, and prevent fraud through automated fraud detection and alerts.
Businesses can access these services:
- Remote deposit capture (RDC)
- Wholesale, medical, and retail lockbox services
- Cash vault services with Smart Safe
- Merchant services
- Zero Balance Accounts (ZBA)
- Automated clearing house (ACH) sweeps
- Credit sweeps
- Cash sweep options
- Deluxe payment exchange (DPX)
- The One Card (corporate card)
- Letter of credit
- Positive pay and ACH fraud module
- Foreign currency wire transfers
Other PlainsCapital Bank Business Products
For customers seeking higher returns on idle cash, PlainsCapital Bank offers a Money Market Account that earns tiered interest the higher your balances go. This account requires a $2,500 opening deposit and a $2,500 maintaining balance to waive the $10 monthly fee. A limit of six free withdrawals and/or transfers per statement cycle applies. Beyond that, $10 per transaction is charged.
Read our guide to a business money market account to learn how it works and compares with other account types.
PlainsCapital Bank features IOLTAs (available for legal firms and lawyers) with a flat interest rate and no opening deposit, minimum balance, and monthly fees. It refunds ATM fees from other banks up to $5 per withdrawal, and there’s no minimum withdrawal requirement.
An alternative to growing business savings is through PlainsCapital Bank’s CDs, which offer fixed and competitive interest rates. The opening deposit is $1,000, and terms are flexible, ranging from seven days to five years. An APY of 2.02% is provided for a six-month CD term while an APY of 3.03% can be accessed with a three-year CD term.
PlainsCapital Bank offers four business credit cards:
- Business Cash Preferred Card: This provides up to 3% cash back on eligible business purchases and awards a $25 cash back after your first purchase.
- Business Card: For more interest savings, this card offers an extended low introductory rate.
- Smart Business Rewards Card: If you seek more rewards, this option features 2x points per $1 you spend. It also gives 20,000 bonus points when your purchases reach $500 within 90 days of account opening.
- Business Real Rewards Card: This also offers rewards to cardholders, giving 1.5 points each month for every dollar spent on eligible purchases.
PlainsCapital Bank is an SBA-preferred lender and offers two SBA loans to help you finance a business, purchase an existing one, or grow your current operations:
- SBA 7(a) loans: Loans of up to $5 million are offered to access working capital, acquire or expand a business, or finance equipment, inventory, or a startup.
You can learn more about this type of loan by reading our guide on SBA 7(a) loans. It contains information on rates, requirements, and terms.
- SBA 504 loans: This provides up to $12 million to fund real estate purchases or new construction. It has fixed rates and longer terms compared to conventional loans and delivers up to 90% new financing, including closing costs.
Check our guide on the SBA 504 loan to become familiar with how it works and its pros and cons.
- Term loans
- Lines of credit
- Real estate loans
- Agricultural loans
PlainsCapital Bank Business Checking Reviews From Users
PlainsCapital business checking reviews are unavailable on third-party websites. The bank has less than 10 reviews on Yelp3 for its Dallas branch, with a rating of 3.5 out of 5 stars. It also has a 4 out of 5 stars rating on DepositAccounts4, with two reviews written over five years ago.
Most of the reviews focused on the bank’s customer service. Most stated that the bank has friendly personnel who provide efficient and pleasant service. However, others complained about getting declined for a small loan despite having excellent credit.
PlainsCapital Bank is a great choice if your business is located in or near a Texas branch. It provides low to high fee-free transaction and cash deposit limits, matching the needs of small to large companies. For enterprises seeking to streamline cash flow management, this bank also offers extensive treasury management solutions that are advantageous to running an efficient business operation.