This article is part of a larger series on Business Banking.
Trustmark National Bank provides three cost-effective business checking products for companies with straightforward banking needs:
- Free Business Checking has no monthly fee and offers 200 free transactions per month.
- Business Relationship Checking charges a waivable $18 monthly fee, offers 500 free transactions per month, and provides higher APY on linked money market accounts.
- Business Interest Checking has a waivable monthly fee of $25, earns interest, and provides 100 free monthly transactions.
Regardless of account type, your account will come with a free debit card and a monthly cash deposit allowance of $5,000. Other Trustmark National Bank products include savings accounts, money market accounts, credit cards, loans, lines of credit, real estate financing, and accounts receivable (A/R), equipment, and inventory financing.
Trustmark National Bank is a regional bank operating in Alabama, Florida, Mississippi, Tennessee, and Texas. You are required to visit a branch to open an account.
- Branch visit required for account opening
- $100 or $1,000 opening deposit requirement
- $5,000 cash deposit limit for all account types
- Free Trustmark Business Debit Card
- Online and mobile banking
- Checks via Deluxe
- Business savings, business lending, and business credit cards also available
How Trustmark National Bank Stacks Up With Its Competitors
When Trustmark National Bank Is a Good Fit
- You want to bank without a monthly fee: Free Business Checking charges no monthly fee and offers 200 free transactions per month. Transactions include checks paid, deposits, deposited items, debit card transactions, and ACH debits and credits.
- You want competitive interest on business savings accounts: If you upgrade to Business Relationship Checking, you can get premium interest rates on Trustmark National Bank’s Business HighYield Money Market Account.
- You need access to a wide range of lending products: Trustmark National Bank offers credit cards, business loans, business lines of credit, A/R financing, equipment financing, and inventory financing.
When To Choose an Alternative
- You need nationwide access to in-person banking: Trustmark National Bank only has branches in Alabama, Florida, Mississippi, Tennessee, and Texas. If you need a bank with a wider physical presence, choose Chase, which operates in all 48 mainland states. Our review of Chase business checking can help you select a business account that suits your needs.
- You want to earn interest on a fee-free account: The Trustmark National Bank Business Interest Checking account charges a monthly fee of $25. If you want to earn APY without paying a fee, Bluevine would be a good alternative. It can earn 2.0% interest on qualifying deposits of $250,000 or less if you meet its monthly activity requirements. Learn more about it by reading our Bluevine business checking review.
- You run a cash-reliant business: The monthly cash deposit limit for all Trustmark National Bank business checking accounts is $5,000. Bank of America’s Business Advantage Fundamentals Banking provides a $7,500 monthly cash deposit allowance for a waivable monthly fee of $16. Read our review of Bank of America business checking for more information.
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.
Trustmark National Bank Business Checking Overview
Trustmark National Bank Business Checking Requirements
You are required to visit a Trustmark National Bank branch to open an account. You may be asked to submit relevant personal identification and business documents during the application process.
The official Trustmark National Bank business checking requirements are not listed on the bank’s website. Refer to our guide on how to open a business bank account for a downloadable checklist of documents banks typically require.
Trustmark National Bank Business Checking Features
Business Debit Card
Your business checking account comes with a free Trustmark Business Debit Card, which you can use fee-free at all Trustmark, Pulse, and Cirrus ATMs.
Trustmark National Bank lets you access banking services through the website or mobile app (available on iOS and Android). Through digital banking, you can do the following:
- View transaction history
- Transfer money between Trustmark accounts
- Deposit checks remotely
- Make ACH and wire transfer payments
- Pay bills and loans
- Set up fraud alert services and custom account activity notifications
The app has a rating of 4.7 stars on the App Store (based on 10,000-plus reviews) and 4.6 stars on Google Play (based on more than 4,000 reviews). Positive reviews highlight that the app is reliable and user-friendly. However, a few users complained that the bank’s use of ads clogged up the app’s interface. Others also disliked that passwords expired too fast.
Other Trustmark National Bank Business Products
Trustmark National Bank offers business savings accounts, business lending products, and credit cards.
- Business Savings charges a monthly fee of $4, waivable with a minimum balance of $500. However, it only includes two fee-free withdrawals per month.
- Business Money Market costs $9 per month unless you maintain a monthly balance of $1,000 or greater. It offers check-writing support and 15 free deposits per month.
- Business HighYield Money Market earns competitive interest for a monthly fee of $15, which is waivable with a minimum balance of $10,000. Like Business Money Market, it supports check-writing and provides a monthly allowance of 15 free deposits.
- Working capital loans
- Working capital lines of credit
- A/R, equipment, and inventory financing
- Real estate lending
- Commercial letters of credit
- Bond financing
The Trustmark Mastercard BusinessCard can be used for purchases at any establishment that accepts Mastercard. It provides an introductory APR rate of 0% on your first six billing cycles and 0.50% cash back on net purchases. The card is protected under Mastercard’s Zero Liability policy and Mastercard ID Theft Protection.
Trustmark National Bank Business Checking Reviews From Users
Trustmark National Bank business checking reviews skew negative. The bank has a rating of 2.5 stars on WalletHub (based on around 40 reviews). Complaints include:
- Bad customer service: Many users said the staff treated them rudely, lacked knowledge of their own products, and failed to hold themselves accountable for their own mistakes.
- No support on the weekends: Customers found Trustmark National Bank’s support hours too limited, which is especially inconvenient during emergencies.
- Outdated technology: According to one reviewer, Trustmark National Bank’s systems are not as streamlined as its competitor’s systems are.
We recommend Trustmark National Bank to small businesses with simple banking needs. With its basic account, Free Business Checking, you get 200 fee-free transactions per month without having to pay a monthly fee. However, low cash deposit limits make the bank ill-suited to organizations dealing with high volumes of cash each month.
User review references: