This article is part of a larger series on Business Banking.
Zions Bank, a firmly established community bank that has been operating for 150 years, offers excellent business checking accounts for every business size. It features low monthly fees and high free monthly cash deposits, which is conducive for businesses prioritizing cost savings.
It also provides an analyzed business checking account, a nonprofit account, and various business savings products, including certificates of deposit (CDs). Besides that, it promotes a wide array of treasury management services and business financing solutions.
- Limited branch locations
- Low free transaction limit for Business Inspire Checking
- In-person account opening only
- Visa business debit card
- Online and mobile banking
- 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
- Small business administration (SBA loans), lines of credit, and term loans
- Robust Treasury Management services
How Zions Bank Stacks Up With Its Competitors
When Zions Bank Is a Good Fit
- You have a low volume of monthly transactions: The basic-tier account Zions Bank Business Inspire Checking gives up to 50 free monthly deposits and withdrawals.
- You have a moderate or high monthly transaction activity: Zions Bank offers high monthly transaction allowances in its higher-tier checking accounts. It provides 250 for Business Growth Checking, 400 for Business Connect Checking, and 250 for Business Interest Checking accounts.
- 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 save on domestic wire fees: Under the Business Connect Checking account, you can send two free monthly outgoing domestic wires.
- 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: Although ATM transactions are free in the Zions Bank network, it charges $2.50 for nonnetwork transactions, and operator surcharges can apply. We recommend Novo, which offers unlimited ATM fee refunds. Our Novo business checking review provides more detailed information.
- You want a higher annual percentage yield (APY): While Zions Bank provides tiered interest rates for its Business Interest Checking product, it’s still considerably lower than competitors. A better alternative is Bluevine, which offers up to 2.00% APY for qualifying balances up to $250,000. Check out our review of Bluevine business checking to learn about the conditions to meet.
Find more alternative providers in our list of the best small business checking accounts.
Zions Bank Business Checking Overview
Zions Bank Business Checking Requirements
Opening a business checking account with Zions Bank requires an in-person branch visit. You need to provide your personal and business information.
- Business entity name and contact information
- Taxpayer ID numbers
- Business paperwork 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
Before opening an account, see our guide on how to open a business bank account. It includes a free downloadable checklist of documents banks typically require for account opening.
Zions Bank Business Checking Features
Zions Bank business checking features various checking accounts, a Visa debit card, digital banking, and business eDocuments.
Multiple Business Checking Accounts
- The Business Inspire Checking account fits small businesses seeking basic checking features. It provides 50 fee-free monthly transactions and up to $3,000 free monthly cash deposits. The monthly maintenance fee is waived by keeping a minimum daily balance of $1,000 or conducting at least $1,000 monthly debit or credit transactions.
- The Business Growth Checking account enables businesses to thrive with its generous free transaction limit of 250 deposited or withdrawn items. The $12 monthly maintenance fee can be avoided by meeting the $2,500 minimum daily balance requirement or maintaining at least $10,000 in combined loan and credit card balances. Depositing cash up to $15,000 is free each month.
- The Business Connect Checking is ideal for businesses focused on efficient cash management. It offers optional treasury management services, simplifying payments and reducing fraud. This account features a free monthly transaction allowance of 400 items and two free monthly outbound domestic wire transfers (via Business Online Banking). Eligible savings, money market, and CD accounts also earn preferred interest rates.
- The Business Interest Checking is designed to maximize interest earnings on checking balances. Tiered and variable interest rates
Rates are subject to change and may differ from state to state.
are available, which compound daily and credit monthly to the account.
- Balances of $4,999 and below earn 0.10%
- Balances from $5,000 to $24,999 earn 0.11%
- Balances over $500,000 earn 0.25%
Similar to Business Connect Checking, eligible savings, money market, and CD accounts also get preferred interest rates.
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.
Business Digital Banking
Zions Bank Business Online Banking lets you easily manage your finances and simplify business processes.
- Grant and manage multiuser account access
- Reimburse/pay employees and contractors through Employee Direct Deposit (fees and approval may apply)
- 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 for greater account control through an optional feature, Dual Authorization
- Use Stop Payments on pending checks
- View account balances, check images, and transaction history
Also, through the Zions Bank mobile banking app, users can take a photo of a check through their mobile device and deposit it electronically. Its mobile app received a rating of 4.7 out of 5 from more than 17,000 reviews on the App Store. Meanwhile, on Google Play, it has a 4.6 out of 5 rating from around 4,800 reviews.
Many users praised the app for its ease of use and improved check imaging update, making it easy to perform mobile check deposits. Others found the new interface design simple and intuitive. However, a few reported experiencing issues with the mobile check capture. They admitted the app improved, but some checks remain unreadable.
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.
Businesses with a high transaction volume and balances can open an analyzed account. It supports sophisticated treasury management needs, such as cash management and payment solutions, and remote deposit capture. This account requires a $50 opening deposit and a monthly maintenance fee of $22. It provides an earnings credit allowance that offsets fees.
Charitable organizations can open this account with a minimum opening deposit of $100. No monthly maintenance fee is charged. Nonprofits can also perform up to 150 monthly deposits and withdrawals for free.
- The Business Savings account requires a $100 opening deposit and offers 50 free monthly deposit transactions. It earns tiered and variable interest, compounded daily and paid monthly. The $3 monthly maintenance fee is waived by maintaining a daily balance of $500. A limit of six monthly withdrawals applies except if made in person, by ATM, or by mail.
- The Business Money Market account has a $1,000 opening deposit but has no monthly maintenance fee. The APY rates are variable and start at 0.55% for balances from $1,000 to $99,999 and 1.21% for balances over $1 million. Similar to a Business Savings account, it limits free monthly withdrawals to six under the same conditions.
- You can use its Business Money Market Sweep account to transfer excess funds from your business checking account to earn interest. The rate is variable, compounded daily, and paid monthly. 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. Deposits are FDIC-insured up to $250,000 per ownership category.
- 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
- Secured and unsecured lending
- International banking and foreign exchange
- Automated clearing house (ACH)
- Remote deposit capture (RDC)
- Lockbox services
- Vault services
- Wire transfers
- ACH and check positive pay
- Foreign currency hedging
- Sweep products
- Zero balance account
- Online payroll services
- 1031 exchange
- Health savings accounts (HSA)
- Flexible spending accounts (FSA)
Zions Bank Business Checking Reviews From Users
There are few recent Zions Bank business checking reviews. On WalletHub, it has a 4.3 out of 5 rating from more than 2,200 reviews. Some users recommended the bank for its excellent customer service and friendly personnel. They also appreciated the overdraft protection provided for their checking accounts.
On the flip side, reviewers reported dissatisfaction over the banking fees charged, such as paper fees. One customer also complained about the bank’s old technology, which didn’t allow online viewing of check images older than 180 days, unlike in other banks. They said that requesting check images would entail paying costly fees.
Zions Bank, a great choice for businesses based in Utah, Idaho, and Wyoming, offers several business checking accounts, robust business lending products, and treasury services. The business checking options correspond to different business sizes and provide a high free monthly cash deposit allowance. Also, their 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: