BB&T offers three main business checking accounts that cater to small-business owners: Business Value 50, Business Value 200 and Business Value 500. The bank also offers specialized account options for nonprofit organizations, government agencies and businesses with unique financial needs.

With over 1,700 branch locations and more than 2,400 ATMs in 15 states and Washington, D.C., BB&T business checking provides access to in-person banking services — plus, it includes a robust digital banking platform that allows you to manage your finances online and through the mobile app.

BB&T officially merged with SunTrust to become Truist Bank in December 2019. As of this writing, however, the bank continues to offer its own products and services under the BB&T name.

BB&T business checking is best for small-business owners who:

  • Want a free business checking account (either truly free or one with a monthly fee that has multiple ways to waive).

  • Make a low to moderate number of monthly transactions.

  • Prefer a brick-and-mortar bank to an online-only bank.

  • Want a specialized account for their community organization or nonprofit.

  • Are located in the geographic area that BB&T serves.

Pros and cons

  • Three main business checking accounts to choose from, including the free Business Value 50 account, as well as specialized account options.

  • Business Value 200 and Business Value 500 offer four different ways to waive their monthly fees.

  • Access to over 1,700 branches, more than 2,400 BB&T ATMs and over 2,000 SunTrust ATMs.

  • Can open three main accounts online, by phone or at a branch location.

  • The bank’s small-business online banking platform, U by BB&T, includes bill pay, account and card management, debit card rewards and more.

  • Availability limited by location.

  • Out-of-network ATM fees: $3 for domestic ATMs ($2.50 for Pennsylvania and New Jersey), $5 for international ATMs.

  • No waived incidental fees (except the two out-of-network ATM transactions per statement cycle and overdraft protection fee with the Business Value 500 account).

BB&T business checking at a glance

Business Value 50

Business Value 200

Business Value 500

Monthly fee:

$0 ($3 paper statement fee can be waived by choosing online-only statements through online banking)

$12 (multiple ways to waive)

$25 (multiple ways to waive)

Minimum opening deposit requirement:

Transactions:

Up to 50 fee-free transactions per month, then 50 cents per transaction after that.

Up to 200 fee-free transactions per month, then 50 cents per transaction after that.

Up to 500 fee-free transactions per month, then 50 cents per transaction after that.

Cash deposits:

Up to $3,500 per month fee-free, then $1.50 to $2.50 per $1,000 deposited (varies by state).

Up to $10,000 per month fee-free, then $1.50 to $2.50 per $1,000 deposited (varies by state).

Up to $30,000 per month fee-free, then $1.50 to $2.50 per $1,000 deposited (varies by state).

Additional features:

$25 discount on first order of checks.

$50 discount on first order of checks.

Personal checking account included for one business owner.

$100 discount on first order of checks.

Personal checking account included for one business owner.

No automatic overdraft protection transfer fee.

Two out-of-network ATM transactions per statement cycle for free (ATM provider may charge separate fees).

How BB&T business checking works

Account options: BB&T offers Business Value 50, Business Value 200 and Business Value 500 as its core small-business checking products. The bank also offers specialized checking accounts: Business Analyzed Checking, Business Interest Checking, Interest on Lawyers Trust Accounts, Community Checking, Basic Public Fund and Public Fund Interest accounts.

Location availability: BB&T has more than 1,700 branch locations across 15 states, plus Washington, D.C. In order to open a BB&T business checking account, your physical business address must be located within the BB&T footprint.

The bank has locations in Alabama, Florida, Georgia, Indiana, Kentucky, Maryland, North Carolina, New Jersey, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia and Washington, D.C.

How to apply: Visit a branch location, work with a representative over the phone or complete and submit your BB&T business checking account application online.

BB&T offers only online applications for its three main business checking accounts, plus the Business Analyzed Checking account. You must visit a branch location or call a business banking representative to apply for any of BB&T’s other specialized business checking accounts.

  • Required information: Basic information about you and your business including your date of birth, Social Security number, ownership percentage, legal business name, employer identification number, business address, etc.

    • You will also need to provide your North American Industry Classification System code, (i.e., your NAICS code), which is based on your business’s industry and can be self-determined by conducting a search on the U.S. Census Bureau website.

    • In addition, BB&T will ask for basic personal information for each beneficial owner — anyone with 25% or more ownership in the business — as well as controlling persons (e.g., chief financial officer, president, managing member) and any authorized signers you’d like on the account.

    • If you are applying at a branch location, you should provide this information by downloading the Beneficial Ownership Certification form from the BB&T website and completing it before your visit.

  • Required documentation: A copy of a government-issued ID for you, all beneficial owners and controlling persons, as well as legal business documents (varies based on entity type).

Next steps: After your account has been approved, you can add funds by making an online transfer, using your debit card, making an in-person deposit or by mailing a check.

You can use your new BB&T business account information to enroll in small-business online banking. Once your information is verified, you’ll be able to create a user ID and password, which you will also use to log in to the U by BB&T mobile app.

Where BB&T business checking stands out

Monthly fees: Provided that you opt for online-only statements (to avoid the $3 paper statement fee), BB&T’s Business Value 50 is a truly free business checking account with no monthly fee and no minimum balance requirements.

Additionally, although the Business Value 200 and Business Value 500 Checking accounts have monthly fees — $12 per month and $25 per month, respectively — each account offers four ways to waive these fees.

For the Business Value 200 Checking account, you can waive the $12 monthly fee by meeting any of the following criteria:

  • Maintaining a $1,500 average monthly balance.

  • Maintaining a $6,000 combined average monthly balances in checking accounts, money marketing savings accounts and/or outstanding balances on business or personal BB&T credit cards.

  • Making a qualifying transaction from a BB&T Merchant Services account.

  • Spending at least $1,000 on eligible purchases using your BB&T business debit card and/or business credit card each month.

For the Business Value 500 Checking account, on the other hand, you can waive the $25 monthly fee by meeting the same types of criteria, with different thresholds:

  • $15,000 average monthly balance.

  • $35,000 combined average monthly balances.

  • At least two qualifying transactions.

  • At least 2,500 in eligible purchases each month.

While many business checking competitors offer one or two ways to waive monthly fees, not many provide four distinct options.

Multiple ways to open an account: With the three main BB&T business checking accounts, you can open an account by submitting an application online, working with a representative over the phone or by visiting a branch location.

Whereas some brick-and-mortar banks require that you apply for an account in person or might offer only two ways to apply, BB&T maximizes your options and gives you the ability to choose the one that works best for your business.

U by BB&T small-business online banking: Each of the BB&T business checking accounts includes access to U by BB&T, the bank’s small-business online banking platform and mobile app. With this platform, you can manage your account — pay bills, transfer money, deposit checks, set alerts and customize your dashboard.

You can also link other BB&T bank accounts, as well as external accounts, categorize transactions, create and track a budget and analyze spending. The U by BB&T platform offers receipt management, access to Zelle and the ability to schedule a phone appointment with a business banker or send a secure online message to customer support.

Moreover, the platform includes debit card management, like the option to turn your card on and off, set location and amount limits, as well as earn cash back on everyday purchases through the BB&T Deals program.

Finally, for additional monthly fees, you also can integrate your BB&T business checking account with Quicken or QuickBooks, as well as subscribe to multiple user access to add up to 25 users with customized account and transaction-level access.

Where BB&T business checking falls short

Additional fees: There are certain instances in which you’ll face additional fees with a BB&T business checking account. BB&T charges $3 for out-of-network ATM use in the U.S. ($2.50 for accounts in Pennsylvania and New Jersey) and $5 for international ATMs.

The bank also charges a $36 overdraft fee, a $34 or $35 stop payment fee (depending on your location), as well as wire transfer fees that range from $15 to $75 depending on the wire and type of service.

Although these fees are not uncommon among business checking accounts, you may be able to find an account with fewer fees — especially from online competitors. In addition, whereas some brick-and-mortar-based accounts waive incidental fees with higher-tier accounts, the Business Value 500 Checking account only offers no automatic overdraft protection transfer fee and two out-of-network ATM transactions per statement cycle for free.

For comparison, the second-tier Wells Fargo business checking account waives fees for stop payments, cashier’s checks, money orders, incoming wires and the first two outgoing domestic wire transfers per month.

Merger with SunTrust and integration to Truist: BB&T and SunTrust officially merged to form Truist in 2019. Although both BB&T and SunTrust are continuing to offer their own product lines under their respective brand names, it’s unclear based on existing information how long they will continue to do so and what the integration process to Truist will look like.

As of this writing, the BB&T website states that no immediate changes are being made to accounts and the bank will notify customers of specific changes in the future — however, there is no timeline provided for the integration process.

Compare business checking accounts

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