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Free checking account for businesses

If you're looking for the best bank for small business, come to MIDFLORIDA. Our Free Business Checking comes with 500 free transactions and a slew of other benefits, without monthly fees or a required minimum balance.

Overview

Are business accounts free? MIDFLORIDA offers a Free Business Checking account that really is free - no monthly service charge and no minimum balance to maintain. Plus, you'll find many more features that save you time and money.

$0 Minimum account balance
500 Free transactions
No monthly maintenance fee
Not only does MIDFLORIDA offer more free transactions per month, we don't count debit card transactions against your limit. In addition, if you deposit multiple checks in one visit, it will only count as 1 transaction. That means you can focus on your business without worrying about fees.

Find a nearby branch to open your Free Business Checking account today.

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Small business owner opening a free business checking account at the Lakeland, Florida MIDFLORIDA location.

Features

Benefits that work for you!

Details & Fees

Upfront account details

Name Fee
Monthly Maintenance Fee $0
Minimum to Open $100
A $100 minimum business savings account is required, and all owners of the business must establish a $5 minimum membership account.
ATM Transactions Free at MIDFLORIDA branches and Publix Presto! ATMs
Number of Free Transactions 500 free transactions per month; $.15 per transaction after. Debit card transactions are excluded from transaction limit. Multiple checks deposited in the same transaction will count as one transaction.
Debit Card Transaction Fee None
Bill Pay Free
Checks Free starter kit
Statement Options eStatements are free with extended eStatement archival for 5 years. Paper statements are available for $2 per month.
Dividends None
Excess Debit Fee None
Coin Counting Free up to $200 per day; then 5% of amount over $200
Check Advance Available up to $1,500 limit.
Notices & Disclosures
1
Offer valid as of March 15, 2020 and may be cancelled at any time without notice. A $5 deposit is required for membership. Business Account Incentive - To qualify for the $300 incentive, all owners of the business must establish $5 membership accounts, and the business must open a Business Savings account (minimum $100 to open), a Free Business Checking account (minimum $100 to open), an online banking account, eStatement, eNotice, and a debit card, and must make deposits totaling at least $5,000 in a calendar month for two of the first six months of account opening and complete five transactions (deposits, withdrawals, etc.) within the first 45 days. No dividends are paid on Free Business Checking. Annual Percentage Yield for Free Business Checking is 0.00%. Any business EIN that has previously received a business checking incentive will not qualify for the $300 incentive. The $300 will be deposited to the new Free Business Checking account after the qualifications have been met, and will be reported to the IRS. Personal Account Incentive - To qualify for the $300 incentive, you must open a new Free Checking account and borrow from a new loan account (consumer loan, line of credit or credit card) within 45 days of account opening. Credit approval required. Existing loans will not qualify for this offer. The incentive for a new checking account alone is $200. No dividends are paid on Free Checking. Annual Percentage Yield is 0.00%. Anyone who has held a checking account with MIDFLORIDA in the past year will not qualify for the incentive. Opening a new Free Checking account requires accepting and opening online banking, online bill payment, eStatement, eNotice, direct deposit ($500 cumulative which must post within 45 days of account opening) and accepting a debit card. The incentive will be deposited to new Free Checking account after the qualifications have been met, and will be reported to the IRS. Minimum to open Free Checking is $50.