SouthState Bank, a regional bank, is the perfect fit for small businesses and nonprofit organizations located in the Southeast. It provides free business checking accounts for small businesses and nonprofits.
It has three business checking accounts:
- Small Business Checking has no monthly maintenance fee and offers the first 150 debits, credits, or deposit items for free.
- Under Business Gold Checking, the first 350 debits, credits, or deposit items are free. The $15 monthly maintenance fee is waived by meeting designated balances or making 15 debit card transactions.
- Community Checking earns interest and does not charge a monthly maintenance fee. It provides 30 debits for free, but if you maintain a $500 daily balance, the fee per item is waived.
The bank also offers business owners a free SouthState at Work Program where their employees can open a checking account and a health savings account (HSA), access financial education, and benefit from loan and service discounts.
- Limited branches
- Charges high nonnetwork ATM fee
- No free cash deposit allowance
- Business debit card
- Online and mobile banking with BillPay
- SouthState at Work Checking account
- Retirement plan services
- Merchant Services
- Savings and certificates of deposit (CDs)
- Credit cards, Small Business Administration (SBA) loans, lines of credit, term loans, and real estate loans
- Integrates with Apple Pay, Google Pay, and Samsung Pay
How SouthState Bank Stacks Up With Its Competitors
Monthly Transaction Limit Before Fees
Small Business Checking
First 150 debits, credits, or deposit items are free; then 35 cents per item
Silver Business Checking
125, then 50 cents per item
All states U.S. Bank is available in all states via online banking. It has branches in Arizona, Arkansas, California, Colorado, Illinois, Indiana, Iowa, Kansas, Kentucky, Minnesota, Missouri, Montana, Nebraska, Nevada, New Mexico, North Carolina, North Dakota, Ohio, Oregon, South Carolina, South Dakota, Tennessee, Texas, Utah, Washington, Wisconsin, and Wyoming.
Refunds all ATM fees
All states (online-only)
Visit Novo Novo is a fintech platform backed and FDIC-insured by a supporting bank partnership with Middlesex Federal Savings.
When SouthState Bank Is a Good Fit
- You make 150 or fewer monthly transactions: SouthState Bank’s Small Business Checking suits small businesses with low transaction volumes. It offers the first 150 debits, credits, or deposit items for free each month.
- You’re a small business owner or a nonprofit seeking a free checking account: South State Bank offers small businesses and nonprofit organizations a basic account, Small Business Checking, and a nonprofit account, Community Checking. Both have no monthly maintenance charges.
- You’re looking for a provider with robust lending solutions: SouthState Bank has a full range of loans, such as lines of credit, equipment loans, SBA loans, real estate loans, and more.
- You want to optimize your employee benefits package: SouthState Bank supports business owners by setting up HSAs and SouthState at Work checking accounts and providing financial wellness education and retirement planning services.
When To Consider SouthState Bank Alternatives
- You want to access more service areas for in-person banking services: SouthState Bank’s branches are confined to six states: Alabama, Florida, Georgia, North Carolina, South Carolina, and Virginia. We recommend Chase, which has a nationwide branch presence. Read our Chase business checking review to see which account fits you.
- You often perform wire transfers: SouthState Bank collects $15 for all incoming wire transfers, $30 for outgoing domestic wire transfers, and $50 for outgoing international wire transfers. Consider Mercury for fee-free wire transfers for all incoming and outgoing domestic and international wire transactions. Learn more about this fintech’s offerings by checking our review of Mercury business checking.
- You want to enjoy a high cash deposit allowance: SouthState Bank charges $1 for every $1,000 cash deposit. Meanwhile, Bank of America provides a fee-free cash deposit limit of $7,500 for its low-tier checking account. Learn about the bank’s checking accounts through our Bank of America business checking review.
See more alternatives in our roundup of the best small business checking accounts.
SouthState Bank Business Checking Overview
SouthState Bank Business Checking Requirements
Part of the SouthState Bank business checking requirements is to visit a branch, but you can start your application by calling the bank at (800) 277-2175 or sending an email through the bank’s website.
SouthState Bank Business Checking Features
Business Checking Accounts
- Small Business Checking is created for small businesses with a low transaction activity. This account offers the first 150 debits, credits, or deposit items for free. In excess of that, a 35-cent fee per item is charged. Small Business Checking does not have a monthly maintenance fee.
- Business Gold Checking is SouthState Bank’s higher-tier business checking account, which is suitable for growing businesses with moderate or high monthly transactions. This account provides the first 350 debits, credits, or deposit items for free. Beyond the limit, a 40-cent fee per item applies. Its $15 monthly maintenance fee is waivable.
- Community Checking is ideal for nonprofit organizations since it’s an interest-earning account with no monthly maintenance fee. Customers get fee-free 30 debits but can enjoy a fee waiver per item by maintaining a monthly minimum daily balance of $500. Past the limit, a $35-cent fee is collected.
Waivable Monthly Fee
Among the three SouthState Bank business checking accounts, only the high-tier Business Gold Checking account charges a monthly maintenance fee of $15.
However, this is waived by meeting any of these conditions:
- Maintain a $2,500 average daily balance
- Maintain a $10,000 minimum daily balance in other combined deposits
- Maintain a $10,000 minimum daily balance in combined outstanding loan balances
- Have 15 posted and cleared SouthState debit card purchases/payments
SouthState At Work Program
The bank offers a free and exclusive SouthState at Work program, which includes:
- South State at Work Checking accounts
- Complimentary checks and safe deposit box
- Discounts on loans and other services
- Savings programs
- Financial wellness education on banking basics, budgeting and saving, home ownership, retirement planning, and more.
SouthState At Work Checking Account
Your employees can open a SouthState at Work Checking account and waive the $8 monthly maintenance fee if they have 15 or more posted and cleared debit card purchases/payments, receive a total of $250 combined direct deposits, or maintain a $1,000 average daily balance.
Online & Mobile Banking
Under SouthState Bank’s business online and mobile services, small business owners can:
- Check account balance
- Review transactions
- Transfer funds
- Receive alerts
- Access spending reports and e-statements
- Set up BillPay and eBills payments
- Use budgeting tools
- Make mobile deposits
- Connect with Apple Pay, Google Pay, and Samsung Pay
Reviewers gave SouthState Bank’s mobile app a 4.5 rating from around 13,300 reviews on the App Store and a 4.7 rating from about 6,400 reviews on Google Play. Several users praised the app for its ease of use, lack of issues, and convenience. However, some are seeking additional features for bill pay, while others found the app slow.
- Remote deposit
- ACH payments
- Wire transfers
- Merchant services
- Fraud protection (positive pay)
- Treasury Navigator®
Other SouthState Bank Business Products
SouthState Bank offers savings accounts, money market accounts, CDs, credit cards, lending solutions, retirement plans, and HSAs.
- Business Savings offers competitive interest paid monthly and requires a $50 opening deposit. The account’s $5 monthly maintenance fee is waived by maintaining a minimum daily balance of $200. Fee-free withdrawals are limited to three times a month. Otherwise, a fee of $2 per withdrawal is charged.
- Business Gold Savings provides unlimited withdrawals and tiered interest rates paid monthly. An opening deposit of $50 is required and its $15 monthly maintenance fee is waived by meeting a minimum daily balance of $10,000.
- Business Money Market offers high interest rates and has an opening deposit of $50. To waive the account’s $12 monthly fee and earn interest, a minimum daily balance of $2,000 or an average daily balance of $5,000 must be met. Customers can perform up to six withdrawals each month, but past that limit, a $10 fee is charged per withdrawal.
- CDs have fixed interest rates for each term. SouthState requires a $1,000 opening deposit for CDs and offers terms of up to 10 years. If a CD is withdrawn early, penalties apply which can reduce the interest earnings and a portion of the capital.
- Visa Business Platinum offers a low introductory rate
- Visa Business Real Rewards provides up to 2,500 bonus points
- Smart Business Rewards doubles the points for top spend categories
- Visa Business Cash Preferred generates cash back rewards on business expenses
- Visa Signature Business Company extends generous credit lines to mid and large-sized businesses
- Visa Business CommUnity provides reward options to nonprofits
- Business lines of credit
- Business equipment loans
- Automobile and fleet financing
- Business lending express
- Real estate loans
- SBA loans
- Franchise finance
- Letters of credit
SouthState offers various retirement plans for different business sizes.
- 401 (k) for private employers
- 403 (b) for non-profit entities
- 457 plans for government entities
- Employee stock ownership plans/Keystone savings and profit-sharing plans (ESOPS/KSOPS)
- Simplified employee pension (SEP) plans/Savings incentive match plan for employees individual retirement (SIMPLE IRA) accounts
- Defined benefit plans including cash balance
- Fee analysis and benchmarking
HSAs help employees pay for medical bills outside their insurance coverage. These accounts earn interest while providing potential tax savings. No minimum opening deposit is required, while the monthly maintenance fee of $3 is waived if the customer is enrolled in the SouthState at Work program.
SouthState Bank Business Checking Reviews From Users
SouthState Bank shows an average rating of 3.1 on WalletHub based on over 480 reviews. Customers did not leave specific SouthState Bank business checking reviews online, as most comments from reviewers focused on the bank’s customer service.
Some shared happy experiences over the professional treatment they received. Others were also satisfied with the successful financing they applied for online. However, some clients complained about getting poor customer service, stating they encountered rude behavior from bank personnel.
SouthState Bank’s Small Business Checking and Community Checking are attractive to small businesses and nonprofits looking to save on monthly maintenance fees. They can also access various banking products, such as savings and CDs, lines of credit, real estate loans, and SBA loans.
Further, business owners can extend fee-free HSAs and retirement plans to their employees through the SouthState at Work program. However, the bank’s branches are found in a few states, which can limit fee-free ATM transactions in designated areas.