Zions Bank, a firmly established community bank operating for over 150 years, offers excellent business checking accounts for every business size. It features low monthly waivable fees and high cash deposit allowances, which is conducive for businesses that prioritize cost savings. The bank also provides specialized checking accounts and various business savings products, including certificates of deposit (CDs) and business financing solutions.
Pros
- Low and waivable monthly fees
- High free cash deposit allowance
- Multiple business checking options
Cons
- Limited branch locations
- Low free transaction limit for Business Inspire Checking
- In-person account opening only
Features
- Visa business debit card
- Online and mobile banking
- Business bill pay
- QuickBooks integrations
- Preferred interest rates for eligible business products under Business Connect Checking and Business Interest Checking
- Overdraft protection
- Business eDocuments
- Savings, money market accounts, and CDs
- SBA loans, lines of credit, and term loans
- Treasury Management services
How Zions Bank Stacks Up With Its Competitors
Monthly Fee | Monthly Transaction Limit Before Fees | Monthly Cash Deposit Limit Before Fees | ||
|---|---|---|---|---|
 Business Inspire Checking | 50 deposited or withdrawn items | U$3,000, then 15 cents per $100 | Utah, Idaho, and Wyoming | |
 Business Complete Banking | $15; waivable | 20 free paper transactions, then 40 cents per item | $5,000, then $2.50 per $1,000 | |
 Standard | None | Unlimited | All states (online-only) | |
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The provider is a fintech platform backed and FDIC-insured by a supporting bank partnership with Thread Bank.
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When Zions Bank Is a Good Fit
- You have a low volume of monthly transactions: The basic tier Business Inspire Checking gives up to 50 free monthly deposits and withdrawals.
- You deposit cash frequently: Zions Bank offers $15,000 in free cash deposits for all its accounts—save for the basic, Business Inspire Checking.
- You want to avoid paper statement fees and access vital statements, notices, and tax documents: Zions Bank offers an eDocument account, where you can go paperless and view electronic versions of statements (deposit accounts), notices (account notifications including loan statements), and tax documents faster and for free.
When to Consider Zions Bank Alternatives
- You need access to nationwide branches: Zions Bank may have over 100 full-service branches, but they are located in only Utah, Idaho, and Wyoming. Consider Chase, which has a physical branch network spread across 48 states. Read our review of Chase business checking to learn more about its three checking accounts.
- You seek ATM fee refunds: Zions Bank charges $2.50 for nonnetwork transactions, plus potential operator surcharges. A good alternative is Novo, which offers unlimited ATM fee refunds of up to $7 monthly. This is among the reasons Novo is part of our list of leading banks for self-employed professionals. See our Novo business checking review for detailed information.
- You want a higher APY: While Zions Bank provides tiered interest rates for its Business Interest Checking product, it’s still quite low compared to others. A better option is Bluevine Standard checking, which provides up to 2% APY for qualifying balances up to $250,000. Read our review of Bluevine business checking to learn about the conditions to meet.
Zions Bank Business Checking Overview
Zions Bank Business Checking Requirements
Part of Zions Bank’s business checking requirements is to visit a branch in person. You need to provide your personal and business information.
- Business entity name and contact information
- Taxpayer ID numbers
- Business paperwork is formed when registering your business with your state
- Personal information and identification for individuals that will be on the account
- Beneficial ownership information for the business entity
Zions Bank Business Checking Features
Zions Bank business checking features, a Visa debit card, preferred rates, treasury management services, digital banking, and business e-documents.
Visa Business Debit Card
Zions Bank issues a Visa Business Debit card that has zero liability protection. You can use it at ATM networks such as STAR® and Visa/Plus®. The bank also offers business clients free employee cards to streamline operations and control costs.
Preferred Interest Rates & Treasury Management Access
Opening a Zions Business Connect Checking and Business Interest Checking account lets you access preferred interest rates on eligible savings, money market, and CD accounts. In addition, the Business Connect Checking product helps you focus on efficient cash management through optional treasury management services that simplify payments and reduce fraud.
You can access the following treasury management services Some treasury management services may require approval and a minimum account balance. :
- Positive pay
- Remote deposit capture
- Electronic invoicing and payments
- ACH and payroll services
- Lockbox
- Investment sweep account options
Business Digital Banking
Zions Bank Business Online Banking lets you manage your finances easily and simplify business processes.
You can:
- Manage multi-user account access
- Use Employee Direct Deposit to reimburse/pay employees and contractors
- Transfer funds and make one-time payments or schedule recurring payments
- Pay bills, check pending bill status, and receive bills electronically
- Require two parties to complete transactions via Dual Authorization
- Use stop payments on pending checks
- View account balances, check images, and transaction history
The Zions Bank mobile banking app received a rating of 4.7 from around 20,500 reviews on the App Store[1]. Meanwhile, it has a 4.1 rating from over 5,300 reviews on Google Play[2]. Users praised the app for its ease of use, security, and intuitive features. Others, however, reported experiencing failed biometric logins.
Business eDocuments
Business customers can save on paper statement fees through eDocuments. You can view and download electronic statements, notices, and tax documents. Three years of tax documents and 18 months of statement history are stored online as long as your account remains active and enrolled in the eDocuments service through digital banking.
- Faster receipt of statements and notices compared to mail delivery
- Customized statements and notices
- Reduced identity theft risk
- Email alerts when new documents are available
- Nonsufficient funds (NSF)
- Overdrawn letter
- CD certificate renewal
- Demand deposit account (DDA) dormant letter
- CD advice of credit
- Loan payment
- Billing payment
- Home equity credit line statement
- CD interest credited
- Consumer loan statement
- Individual retirement account (IRA) statement
- CD retirement plan
- Renewal notice
- Final loan payment billing statement
- Commercial loan statement
- 1099-A Acquisition or Abandonment of Secured Property
- 1099-C Cancellation of Debt
- 1099-DIV Dividends and Distributions
- 1099-INT Interest Income
- 1099-MISC Miscellaneous Income
- 1099-Q Payment from Qualified Education Programs
- 1099-R Distributions from Pensions, Annuities, Retirement Plans, IRAs or Insurance Contracts
- 5498-IRA Contribution
- 5498-ESA Education Savings Account Contributions
- 1098 Mortgage Statements (for select mortgage loans)
The list of IRS documents mentioned above are subject to change without notice.
Other Zions Bank Business Products
Zions Bank’s business products include specialized accounts, business savings and money market accounts, credit cards, and SBA loans.
- The Commercial Analyzed Checking account suits businesses with a high transaction volume and balances. It requires a $50 opening deposit and a monthly maintenance fee of $22. An earnings credit allowance can offset fees.
- The Business Nonprofit Checking account is created for charitable organizations and requires a minimum opening deposit of $100. No monthly maintenance fee is charged. Nonprofits have 150 fee-free transactions and up to $15,000 free cash deposits monthly.
- An Interest on Lawyers’ Trust Account Checking (IOLTA) provides interest that is directly paid to the state association for justice system improvements and legal aid. The minimum account opening is $100 and no monthly maintenance fee is charged.
- The Business Savings account has a $100 opening deposit and offers 50 free monthly deposit transactions. It earns tiered and variable interest, and the $3 monthly maintenance fee is waived by keeping a minimum daily balance of $500.
- The Business Money Market account has a $1,000 opening deposit but has no monthly maintenance fee. The APY rates are variable per state.
- You can use its Business Money Market Sweep account to transfer excess funds from your business checking account to earn variable interest. A $25 opening deposit is required for this account.
- Business CDs are available with term periods from one month to five years. The minimum opening deposit is $1,000, and $100,000 for Jumbo CDs. The interest rates are fixed and compounded daily.
- The AmaZing Rate Credit Card has one of the lowest interest rates and offers a $500 statement credit bonus to cardholders who spend $5,000 in the first 120 days.
- The AmaZing Cash Credit Card provides cash back rewards—3% for common business purchases 3% cash back is earned on office supplies, wireless telephone services, computer network services, and telecommunications services and equipment. Contact Zions Bank for more information about common business purchases. , 2% on select travel purchases, and 1% on all other purchases.
- The AmaZing Rewards Credit Card earns reward points for business purchases, 3 points per dollar spent on common business purchases Three reward points are earned on office supplies, wireless telephone services, computer network services, and telecommunications services and equipment. Contact Zions Bank for more information about common business purchases. , 2 points per dollar for select travel purchases, and 1 point per dollar for other purchases.
- Lines of credit
- Term loans
- Equipment financing
- SBA loans
- Commercial real estate loans
- Agricultural banking
- Owner-occupied commercial real estate
- Factoring
- International banking and foreign exchange
Our related resources:
- Equipment Financing: Loans vs Leases
- Business Line of Credit & How It Works
- SBA 7(a) Loans: Rates, Requirements & Terms
- SBA 504 Loan & How It Works
Zions Bank Business Checking Reviews From Users
On WalletHub[3], Zions Bank scored a rating of 4.3 from over 2,200 reviews. Users who left a Zions Bank business checking review complained about the bank charges on overdrafts and paper statements.
In terms of customer service, the feedback was mixed. Some were satisfied with the friendly customer service they received, whereas others reported poor support when they filed for fraud disputes. They stated that no follow-ups were made to resolve their issues.
Frequently Asked Questions (FAQs)
Yes, Zions Bank’s deposits are FDIC-insured for at least $250,000 per depositor and account ownership category.
No, Zions Bank requires business customers to visit one of its branches to open a business checking account.
Zions Bank requires a minimum opening deposit of $50 to open any of its regular business checking accounts.
Bottom Line
Zions Bank—a great choice for businesses in Utah, Idaho, and Wyoming—offers several business checking options with high fee-free monthly cash deposits. Additionally, the monthly fees are low and waivable. However, an in-person account opening is required, and the bank’s brick-and-mortar branches are only available in three states.
User review resources:
[1]App Store
[2]Google Play
[3]WalletHub
