Tri Counties Bank Business Checking Review 2023
This article is part of a larger series on Business Banking.
Tri Counties Bank is a decent choice for California-based businesses seeking a community bank that can accommodate all business banking needs. It provides multiple scalable business checking account options, with free monthly transactions starting at 200 for its basic accounts.
It offers an extensive selection of additional banking products, including savings, loans, Certificate of Deposit Account Registry Service (CDARS), and Simplified Employee Pension (SEP) plans. It even has a specialized checking product for nonprofits.
Tri Counties Bank is a Federal Deposit Insurance Corp. (FDIC)-insured traditional bank with more than 75 branches throughout California. It offers access to a nationwide network of more than 37,000 surcharge-free ATMs. You need to visit a Tri Counties branch to open a business checking account.
Pros
- Moderate to high free transaction limit for regular accounts
- $5,000 cash deposit limit for Start Up Business Checking
- No monthly fee for nonprofit account
Cons
- Branches limited to California
- No APY
- High maintaining balance required to waive monthly fee
Features
- Optional Visa Business Debit Card
- Fee-free access to Tri Counties Bank and MoneyPass ATMs
- Online and Mobile Banking
- Business Bill Pay
- Business savings products, CDARS, SEPs, lending products, and credit cards available
How Tri Counties Bank Stacks Up With Its Competitors
Startup Business Checking
Silver Business Checking
Community Business CheckingWhen Tri Counties Bank Is a Good Fit
- You make 200 or fewer monthly transactions: Both Start Up Business Checking and Small Business Checking offer a limit of 200 fee-free transactions. If your business makes more than 200 transactions per month, consider upgrading your account to Enterprise Checking.
- You work with cash regularly: Start Up Business Checking, the lowest-tier account, has a fee-free cash deposit limit of $5,000 while Small Business Checking offers up to $10,000.
- You need access to a complete range of banking services: Other business banking products Tri Counties Bank offers include business savings products, CDARS, SEP plans, lending products, and credit cards.
- You run a nonprofit organization: Tri Counties Bank offers several products for nonprofits, including nonprofit checking accounts with no monthly fees, savings accounts, and business CDs.
- You want to extend your FDIC insurance: Through the Tri Counties Bank CDARS, you can spread your savings in amounts of $250,000 or less across multiple CDs issued by different banks within Tri Counties Bank’s network. FDIC insurance will apply to all CDs.
- You have complex cash management needs: Tri Counties Bank offers an Analysis Business Checking account for larger businesses seeking comprehensive treasury management services. The bank’s services include Positive Pay for fraud prevention, express deposit capture, and cash vault services.
When Tri Counties Bank Is Not a Good Fit
- Your business is located outside California: Tri Counties Bank has no physical branches outside California—and you are required to visit a branch to open an account. If you’re looking for a bank with wider geographic coverage, consider Chase, which has over 4,700 locations across 48 states. Read our review of Chase Business Complete Banking to learn more about the provider’s basic account.
- You want to bank without a monthly fee: All Tri Counties Bank regular business checking accounts charge monthly fees. If you want a fee-free business checking account from a traditional provider, we recommend the U.S. Bank’s Silver Business Checking. See our U.S. Bank business checking review to assess if the product’s the right fit.
- You want to earn interest on checking deposits: None of Tri Counties Bank’s checking accounts earn interest. The best provider for interest-earning checking is Bluevine, which offers 2.00% APY on qualifying balances up to $250,000. Our Bluevine business checking review discusses the conditions in detail.
If your small business meets one or more of these scenarios, check out our guide to the best small business checking accounts for additional recommendations. You may also be interested in the providers on our list of the leading banks in California.
Tri Counties Bank Business Checking Overview
Tri Counties Bank Business Checking Requirements
To open a business bank account with Tri Counties Bank, you are required to visit a branch. Check the bank’s list of business documents you need to prepare, which differ depending on your business entity type.
Click on your entity type below to learn more.
- Certification of beneficial owners of legal entities form
- Filed copy of articles of incorporation
- Filed copy of current statement of information or corporate resolution
- May Also be required as applicable:
- Filed copy of fictitious business name statement, if applicable
- Filed copy of statement and designation by a foreign corporation or certificate of status/good standing (if corporation was formed outside California)
- Certified amendments to the articles of incorporation
- Certification of beneficial owners of legal entities form
- Partnership agreement
- Filed copy of fictitious business name statement, if applicable
- Certification of beneficial owners of legal entities form
- Joint venture agreement
- Filed copy of fictitious business name statement, if applicable
- Certification of beneficial owners of legal entities form
- Filed copy of certificate of LP
- LP agreement
- Filed copy of fictitious business name statement (if applicable)
- Filed copy of application to register a foreign LP or certificate of status/good standing (if LP was formed outside California)
- Certification of beneficial owners of legal entities form
- Filed copy of application to register an LLP
- LLP agreement
- Filed copy of fictitious business name statement, if applicable
- Certification of beneficial owners of legal entities form
- Filed copy of articles of organization or certificate of formation/organization
- Filed copy of current statement of information or operating agreement (both documents may be necessary to confirm the management of the LLC)
- May Also be required as applicable:
- Filed copy of fictitious business name statement, if applicable
- Filed copy of application to register a foreign LLC or certificate of status/good standing, if applicable
- LLC was formed outside California
- Filed copy of certified amendments to the articles of organization, if applicable
- Charter or by-laws
- Current meeting minutes or letter of authorization that authorize the account and designate signers
- Filed copy of fictitious business name statement, if applicable
- Certification of beneficial owners of legal entities form, required when the fiduciary is a “covered” entity
- Applicable entity documentation for fiduciary
- Applicable entity formation documentation for the client/property owner (required when the account is housed under the client’s EIN)
- Authorization agreement for endorsement and deposit form (provided at account opening, if applicable)
- Public agency authorization to open the account and designation of signers
- Contract for deposit of monies and waiver of security form (obtained and completed at account opening)
- Filed copy of fictitious name statement, if applicable
- Current certification of trust, dated within the past 12 months
- Page from the trust showing the business is an asset or the trustee has power to operate a business (required if the trustee is not a trustor)
- Filed copy of fictitious name statement, if applicable
Read our guide on how to open a business bank account to make the account opening process seamless.
Tri Counties Bank Business Checking Features
Business Checking Accounts
- Start Up Business Checking: This account is ideal for new businesses, sole proprietors, or other established businesses with few transactions. It provides up to 200 free monthly transactions, which include deposits, transfers, and payments made by check, converted check, automated clearing house (ACH), ATM, mobile banking, online or mobile Bill Pay. The $10 monthly maintenance fee is waived by maintaining a daily balance of $1,500.
- Small Business Checking: Suitable for established businesses with moderate transaction volumes, this account offers the same number of free transactions as Start Up Business Checking account. A daily balance of $2,500 is required to waive the $20 monthly maintenance fee.
- Enterprise Checking: Large companies with more transaction activity and higher balances can open this account. It provides up to 400 free monthly transactions and up to $20,000 free monthly cash deposits. It requires a daily balance of $25,000 to waive the monthly maintenance fee of $30.
- Analysis Business Checking: This account is designed for businesses with high transaction volumes and complex cash management needs. It requires a $100 opening deposit and charges a monthly maintenance fee of $25, which can be offset by receiving earnings credit.
Visa Business Debit Card
Upon opening your Tri Counties Bank business checking account, you have the option to apply for a Visa Business Debit Card. The card uses contactless technology and Zero Liability Card Protection. It can be connected to digital wallets like Apple Pay, Google Pay, and Samsung Pay.
Enrolling your card in the Visa SavingsEdge program gives you access to discount deals with Visa’s partner merchants, which include Microsoft 365, and FreshBooks.
Online Banking Solutions
Tri Counties Bank’s online banking solution Trico Business Express lets customers manage their accounts online. Through Trico Business Express, you can
- View balances and pending transactions in real time
- Set up one-time or recurring payments
- Transfer funds between accounts
- Access e-statements
- Originate ACH and wire payments or utilize remote deposit capture (RDC)
- Authorize users for different access levels
To enroll in these services, you need to call Tri Counties Bank at (800) 922-8742 or contact your local branch.
If your business has more sophisticated online banking needs, you can upgrade to Trico Treasury Center for a monthly fee of $18. Upgrading gives you access to the following:
- A dashboard that summarizes banking activity and account relationships
- Reporting capabilities
- Fraud prevention tools
- Online ACH, RDC, wire transfer, foreign exchange (FX) integration, and more
Mobile Banking
The Tri Counties Bank mobile app lets users
- View balances
- View transaction history
- Transfer funds
- Pay bills
- Look up ATM and branch locations
- Deposit checks with mobile check deposit
The bank’s app received low or average ratings, earning 2 stars out of 5 on the App Store1 (based on around 10 reviews) and 3.3 out of 5 on Google Play2 (based on about five reviews). Users mentioned that the app has useful online banking features but is glitchy. Some claimed that the app is poorly developed and used to function well, but issues started due to its incompatibility with iOS.
Other Tri Counties Bank Business Products
Tri Counties Bank offers specialized accounts for nonprofit organizations, public or government entities, and licensed attorneys:
- Not For Profit Business Checking, designed for nonprofits and charitable organizations, has no monthly fee or minimum balance requirements. It has a fee-free monthly transaction limit of 100 and a monthly cash deposit limit of $5,000.
- Public Funds Checking, for government and public entities, charges a monthly fee of $10.95, waivable with a minimum balance of $2,500. It offers unlimited transactions and cash deposits. A Public Funds Checking With Interest option, with a monthly fee of $10, is also available.
- State Bar Legal Services Checking is an interest-earning account for licensed attorneys. It charges no monthly fee and offers unlimited transactions and cash deposits. Any interest that the account accrues is paid to the state bar’s Interest on Lawyers’ Trust Accounts (IOLTA) program.
- Small business loans, which include lines of credit, term loans, equipment loans, and auto loans. Read our guide to small business lines of credit to learn about the different types, rates, and requirements.
- Agriculture loans for California-based agricultural programs. Products include small farm programs, crops and livestock, agricultural land, and agricultural equipment.
- Government-guaranteed Loans, such as SBA 7(a) loans, SBA Express Loans and lines of credit, and SBA 504 Loans; US Department of Agriculture (USDA) loans; and Bureau of Indian Affairs loans.
To learn more about SBA loans, check out our article on SBA loan types, rates, and requirements.
Tri Counties Bank offers two types of credit cards:
- The Visa® Business credit card is a simple credit card with no annual fee.
- The Visa® Business Platinum credit card earns 1.5% cash back on all purchases with no caps. The card has no annual fee.
There are five types of Tri Counties Bank savings accounts. Each account has a minimum opening deposit requirement of $100. All accounts include variable interest that’s compounded daily and paid monthly:
- Business Savings charges a monthly fee of $5, waivable with a minimum balance of $300.
- Public Fund Savings charges the same fees above but is exclusive to public and government agencies.
- Tiered Business Savings charges a monthly fee of $8, waivable with a minimum balance of $1,000. It offers tiered interest rates.
- Business Money Market has a waivable monthly fee of $10 and a minimum balance requirement of $2,500.
- Business Premier Money Market, which has the same monthly fee but a minimum balance requirement of $10,000, is an ideal upgrade if you want to increase your interest-earning potential.
Rate information is unavailable on the Tri Counties Bank website. You must contact Tri Counties Bank to learn more about its current interest rates.
Tri Counties Bank offers CDs for all businesses, public agencies, and government entities. Neither account charges monthly fees, but both have a minimum balance requirement of $1,000 to earn interest:
- For Business CDs, the shortest term available is one month while the longest term available is five years.
- Public Funds CDs offer three-, six-, 12-, 24-, 36-, 48-, and 60-month terms.
Tri Counties Bank CDARS provides extended FDIC insurance coverage for deposit amounts between $250,000 and $10 million. By depositing money in a CDARS account, you let Tri Counties Bank spread your funds across CD accounts from multiple banks. One rate will apply to the entire deposit.
The minimum deposit requirement for opening a CDARS account is $100,000.
Tri Counties Bank offers SEPs that help your employees save for retirement. Employees can save using savings accounts and/or CDs.
Tri Counties Bank Business Checking Reviews From Users
Tri Counties Bank business checking reviews are unavailable online, though we found a few recent reviews focused on customer service. The bank received 1.3 out of 5 stars on Yelp3 from around 40 reviews.
Positive comments from users are from seven years to over a decade ago. The current sentiment from customers is dissatisfaction with the bank’s level of customer service. There were complaints about a lack of communication, unreturned calls, and unprofessional behavior.
Bottom Line
Tri Counties Bank’s business checking accounts come with moderate to high free transactions, making them attractive for small and mid-sized businesses in California. Nonprofit organizations will appreciate the bank’s specialty account, Not For Profit Business Checking, which has no monthly fees.
The bank also provides various business services, including CDARS and SEP plans. However, its requirement of maintaining a steep balance to waive the monthly fees and the lack of APY can be potential drawbacks.
User review resources:
1App Store
2Google Play
3Yelp
