This article is part of a larger series on Business Banking.
Western Alliance Bank offers solid business checking options fit for organizations needing no-frills traditional banking. Its lowest-tier account, called Business Checking, charges a monthly fee of $16 and offers 200 fee-free transactions per month. You can upgrade to Business Interest Checking to earn annual percentage yield (APY) or to Business Advantage Checking for an increased allowance of 500 fee-free transactions per month.
The bank also provides specialty accounts, such as analyzed checking, nonprofit checking, political campaign, and Interest on Lawyer’s Trust Accounts (IOLTA). All come with a free Visa debit card, online and mobile banking, and fraud protection. You can opt for overdraft protection to reduce overdraft or nonsufficient fund (NSF) fees.
How Western Alliance Bank operates: Western Alliance Bank is one of the many brands owned by the Western Alliance Bancorporation. This subsidiary only has three branches, which are located in Phoenix, New York City, and Salt Lake City.
- Only three branches
- No online account opening
- $20 monthly fee for interest-earning account
- Free Visa debit card
- Free ATM transactions at MoneyPass machines and PLUS, STAR, and Interlink systems
- Online and mobile banking
- Optional overdraft protection
- Fraud protection
- Other accounts include analyzed checking, nonprofit checking, political campaign, and IOLTA
How Western Alliance Bank Stacks Up With Its Competitors
When Western Alliance Bank Is a Good Fit
- You have a low-to-moderate transaction volume: Western Alliance Bank’s Business Checking and Business Interest Checking accounts both provide 200 fee-free transactions per month. Transactions include debits, credits, and deposited items.
- You want fee-free access to a wide network of ATMs: Your Western Alliance Bank debit card gives you fee-free access to MoneyPass ATMs and ATMs in the PLUS, STAR, and Interlink systems.
- You run a 501(c)(3) organization: Charitable organizations do not have to pay the monthly fee for Western Alliance Bank’s Business Interest Checking account.
When Western Alliance Bank Is Not a Good Fit
- You need a bank with wide geographic coverage: Although the company owns several other banking brands, Western Alliance Bank itself only runs three brick-and-mortar locations, which are located in Phoenix, New York City, and Salt Lake City. Chase, which has branches in 48 states, is a better option for wide geographic coverage. Read our review of Chase business checking for a breakdown of the bank’s three accounts.
- You prefer to bank without a monthly fee: The only fee-free business checking account Western Alliance Bank offers is its IOLTA. Meanwhile, U.S. Bank’s Silver Business Checking account charges no monthly fee and offers 125 fee-free transactions per month. Our U.S. Bank business checking review can help you determine whether the account suits you.
- You want to earn competitive interest on free checking accounts: Western Alliance Bank’s only nonspecialized interest-earning account, Business Interest Checking, charges a $20 monthly fee. Bluevine charges no transaction or monthly fees and will earn you 2.0% APY on balances of $250,000 or less if you meet its monthly activity requirements. Learn more by reading our review of Bluevine business checking.
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.
Western Alliance Bank Business Checking Overview
Western Alliance Bank Business Checking Requirements
You are required to visit a Western Alliance Bank branch to open a business checking account. Upon application, you will typically need to provide a valid government ID and relevant business documents. For a downloadable checklist of documents that banks typically request, refer to our guide on how to open a business bank account.
Western Alliance Bank Business Checking Features
Your Western Alliance Bank account comes with a free Visa debit card. You can make ATM transactions for free at MoneyPass ATMs, or any ATM belonging to the PLUS, STAR, and Interlink systems.
Online and Mobile Banking
Western Alliance Bank is available via online and mobile banking (for iOS and Android). Through digital banking, you can do the following:
- View balances and transactions
- Transfer money
- Deposit checks through mobile check deposit
- Add and manage payees
- Pay bills
- Approve internal transfers, wire payments, and automated clearing house (ACH) payments
- Search branch locations
Enrolling in enhanced services also gives you web access to domestic and foreign wire transfers and ACH transactions.
The app, called WA Business Mobile, received mostly negative user ratings. It has 2 stars on the App Store1 (based on 20-plus reviews) and 3 stars on Google Play2 (based on more than 10 reviews). However, only a few users posted written reviews within the last few years, none of which were positive. Reviews from 2021 and 2022 highlight that the mobile check deposit function is slow and does not work consistently.
Overdraft protection is an optional service that links your checking account to a revolving line of credit. It provides backup funds whenever you make a transaction that exceeds your current checking account balance. This prevents you from incurring additional overdraft fees and keeps your balance from going negative.
- Positive pay for ACH and check payments: With positive pay, you can create a list of preapproved check and ACH payments. Western Alliance Bank will check any presented payments or ACH transfers against this list. Payments that do not match the contents of your list will be declined, thus preventing fraudulent transactions.
- Check payee positive pay: Whenever a check is presented, your bank will ask you to confirm the payee name, check amount, and check number before releasing funds.
- Reverse positive pay: Through this feature, you also have the option to approve or disapprove checks manually.
- ACH debit block: If you’re enrolled in online banking, you have the option to block all ACH debit transactions.
Other Western Alliance Bank Business Products
- Analyzed checking accounts are designed for businesses with high transaction volume. They offset monthly maintenance and transaction fees through earnings credit. Additional benefits include integrated treasury management, consolidated financial reports, online and mobile banking, and optional overdraft protection.
- Nonprofit accounts are affordable checking accounts designed for nonprofit 501(c)(3) organizations.
- Political campaign accounts help campaigning individuals or organizations protect their funds and comply with legal requirements.
- IOLTAs, designed for attorneys and law firms, remit interest earned on your balances into your state’s bar foundation. Although these accounts have no monthly fees, they require a minimum opening deposit of $100.
- Business savings accounts include free online banking and 25 free deposits per month. It has an opening deposit requirement of $1,000 and a minimum balance requirement of $2,500 to waive the $10 monthly fee.
- Business money market accounts also provide free online banking and 25 free deposits per month. It offers tiered interest rates based on your balance. The $10 monthly fee is waived if you run a nonprofit or if you maintain a daily balance of $2,500. The account has a $1,000 opening deposit requirement.
- Business CDs have a $1,000 opening deposit requirement. Terms range from 30 days to 60 months.
Western Alliance Bank offers the following loans:
- Small Business Administration (SBA) 504 loans with down payments as low as 10%
- SBA 7(a) guaranteed loans up to $5 million
- SBA Express Loans up to $500,000
- Conventional loans up to $500,000
- Lines of credit up to $100,000
The only business credit card Western Alliance Bank provides is the Business Plus Credit Card, which is powered by Visa. The card charges no annual or overlimit fees and earns points that can be redeemed for cash back, travel, or merchandise.
Western Alliance Bank Business Checking Reviews from Users
The bank has a rating of 4 stars on DepositAccounts3 (based on about five reviews) and 3.2 stars on WalletHub4 (based on around 10 reviews). However, no users have published written Western Alliance Bank Business Checking reviews. One applicant disliked that Western Alliance Bank does not allow online applications.
Although Western Alliance Bank offers decent business checking products, none offer any standout features. Costs like monthly service fees, minimum balance requirements, and opening deposit requirements are within the same range as typical traditional banks. However, branch access is limited to Phoenix, New York City, and Salt Lake City. If you want similar products but operate outside Western Alliance Bank’s service area, consider a different Western Alliance Bancorporation brand.
User review references: