Looking for PPP funding? Apply for your first or second PPP loan here.
logo
logo
  • Login
  • How It Works
  • See Your Loan OptionsGet Started
    • PPP Hub
    • Loans

      Loan Types

      • SBA Loans
      • Business Lines of Credit
      • Term Loans
      • Startup Business Loans
      • Equipment Financing
      • Invoice Financing

      Lender Reviews

      • Kabbage
      • Bluevine
      • Funding Circle
      • Fundbox

      Learn

      • Best Small Business Loans for Women
      • Business Loans for Bad Credit
      • Consolidating Debt With a Business Loan
      • Best Banks for Business Loans
      • How to Get a Business Loan
      • Business Loan Requirements
    • Credit Cards

      Best Of

      • Best Balance Transfer Cards
      • Best 0% APR Cards
      • Best Cash Back Credit Cards
      • Best Travel Cards
      • Best No Fee Cards
      • Best Startup Cards

      Card Issuers

      • Chase
      • American Express
      • Capital One
      • Bank of America

      Card Reviews

      • Chase Ink Unlimited
      • Chase Ink Cash
      • American Express Blue Business Plus
      • American Express Blue Business Cash
      • Capital One Spark Cash

      Learn

      • Business Credit Card Requirements
      • Applying for a Credit Card With an EIN
      • Getting a Credit Card With No Credit History
    • Banking

      Best Of

      • Best Online Bank Accounts
      • Best Business Checking Accounts
      • Best Free Business Checking Accounts
      • Best Business Savings Accounts
      • Best Bank Accounts for LLCs

      Bank Reviews

      • Chase
      • Azlo
      • Novo
      • Capital One

      Learn

      • How to Open a Business Bank Account
      • Opening a Business Bank Account With No Deposit
      • Opening a Business Bank Account Without an EIN
    • Accounting

      Best Of

      • Best Accounting Software for Ecommerce
      • Best Accounting Software for Restaurants
      • Best Accounting Software for Sole Proprietors
      • Best Free Accounting Software
      • Best Bookkeeping Apps

      Accounting Reviews

      • QuickBooks
      • Xero
      • Wave
      • Zoho Books
      • FreshBooks

      Accounting Comparisons

      • QuickBooks vs. FreshBooks
      • Xero vs. QuickBooks
      • Xero vs. Sage
      • QuickBooks Online vs. Desktop
      • QuickBooks Pro vs. Premier

      Learn

      • Accounting Principles
      • How to Find an Accountant
      • Accounting Tips
      • Bookkeeping vs. Accounting
    • POS Systems

      Best Of

      • Best Credit Card Processing Companies
      • Best Merchant Account Providers
      • Best Mobile Credit Card Readers
      • Best Free POS Software

      POS Reviews

      • Stripe
      • Square
      • Toast
      • Clover

      POS Comparisons

      • Clover vs. Square
      • Stripe vs. Square
      • Stripe vs. PayPal
      • Square vs. PayPal

      Learn

      • Merchant Services 101
      • How to Accept Credit Card Payments
      • Credit Card Processing Fees
      • What Are ACH Deposits?
    • HR & Payroll

      HR Software

      • Best HR Software
      • BambooHR Review
      • Namely Review
      • Zenefits Review
      • Zoho People Review

      Payroll Software

      • Best Payroll Software
      • Free Payroll Software
      • ADP Payroll Review
      • QuickBooks Payroll Review
      • Gusto Payroll Review

      Learn

      • How to Set Up Payroll
      • How to Pay Payroll Taxes
      • 1099 vs. W2 Employees
    • Legal Services

      Legal Reviews

      • LegalZoom
      • LegalShield
      • LegalMatch
      • Incfile
      • Rocket Lawyer
      • UpCounsel

      Entity Types

      • LLC
      • S-Corporation
      • C-Corporation
      • Limited Partnership

      Learn

      • How to Incorporate Your Business
      • How to Find a Business Attorney
      • Where to Get Free Legal Advice
    • More Resources

      More Categories

      • Business Insurance
      • Ecommerce Solutions
      • Small Business Taxes
      • Managing Finances
      • Building Credit
      • Business Operations
      • Small Business Marketing
      • Leadership Advice
      • Data & Reports
      • Customer Stories
    Business Bank Accounts

    BB&T Business Checking Accounts Reviewed for Your Small Business

    Sally Lauckner
    Updated on August 31, 2020
    Advertiser Disclosure

    A business checking account is crucial to banking responsibly since it keeps your business’s money both safe and accessible. Placing your business earnings into a business bank account keeps them FDIC-insured, easier to track, and safer from loss or theft. It also keeps your funds in one place to more easily deposit earnings, make withdrawals and purchases, and pay any employees.

    BB&T Bank offers three different business checking accounts. The bank operates only in 15 states, however, mostly in the Southeast and Midwest—you’ll have to live in the bank’s service areas to open a business checking account or any other bank account.[1]

    See Your Business Checking Options

    Choosing the Best Business Checking for Your Small Business

    No matter which bank you end up with, you’ll want to determine what you need from a checking account before opening one. If you’re just starting out, perhaps you’ll want a free business checking account so you don’t have to worry about yet another cost. To the opposite, if you’re a seasoned business vet, you could benefit a bit more from an account with higher limits and more helpful perks.

    All BB&T business accounts include no-fee online statements, text and/or email alerts, online and mobile banking, a free BB&T Business debit card and customizable checks. When choosing your account, also be mindful of:

    Fees

    Only one BB&T business account is free to own. The other two accounts charge monthly fees, which you can waive by meeting certain balance minimums.

    Balance Minimums

    Meeting a balance minimum on an account can help you waive an otherwise pesky monthly service fee. Note that there may be two minimum balance requirements. One balance minimum is assessed on the single account at hand while the other minimum is a combined amount. This combined balance can take into account the single account, other checking and savings accounts, investment accounts, and sometimes even loans. Typically, you have to meet one minimum or the other, not both.

    Transaction Limits

    Be wary of an account’s transaction limits, which limit the number of transactions you can make from the account. More premium accounts can allow for thousands of transactions each statement cycle while other accounts can limit you to as little as 50 transactions.

    BB&T Business Checking Accounts

    As we mentioned earlier, BB&T offers three business checking accounts for business owners to choose from. Let’s dive into the details on each account, so you can figure out which one best fits your individual needs.

    BB&T Business Value 50 Checking

    The simplest account of the three, the Business Value 50 Checking account doesn’t have a monthly service fee or a minimum balance requirement. Online statements come at no extra charge. This can really help out new business owners still strapped for cash. Plus, your first order of business checks on this account will be discounted up to $25.

    While this account is free, it is pretty limiting in its transactions. You’re allowed 50 free combined items per statement cycle, which may not be enough for a number of businesses. Combined items includes purchases, paychecks, withdrawals, and deposits. You’re also limited to $3,500 in no-fee cash processing per cycle. Each additional $1,000 will cost a small fee that varies by state.

    Monthly fees and limits:

    •      $3 per paper statement
    •      50 combined items for free per cycle
    •      $0.50 per additional transaction
    •      $3,500 in no-fee cash processing per cycle

    Best for:

    •      Business owners making minimal transactions
    •      Business owners with low balances

    BB&T Business Value 200 Checking

    This second BB&T business account is better for a more hands-on business owner since there is a monthly fee to take into consideration. The fee is $12 and you can waive it by meeting one or more of the following: a $1,500 average monthly balance, $6,000 in combined average monthly balances (personal or business checking accounts, money market savings accounts and/or outstanding balances on BB&T credit cards), a qualifying transaction from a BB&T Merchant Services account, or $1,000 in eligible purchases each month on your BB&T business credit card or debit card.

    The Business Value 200 Checking account offers a much more flexible transaction limit at 200 transactions per cycle. This gives you more room to spend, pay your employees, and withdraw money as needed.

    Further, the account provides the opportunity to open a free personal BB&T Back to Basics checking account and no-annual-fee BB&T Visa Signature Business Credit Card with Business Rewards, personalize your debit card, and receive up to $50 off on your first order of business checks.

    Monthly fees and limits:

    •      $12 monthly fee, waivable
    •      200 free checking transactions per cycle
    •      $0.50 per additional transaction
    •      $10,000 in cash processing per cycle

    Best for:

    •      Business owners who can meet at least one of the account requirements to waive the fee
    •      Accounts with a decent minimum balance
    •      Business owners with other existing BB&T accounts

    BB&T Business Value 500 Checking

    This last BB&T business account offers the highest transaction limits and imposes the highest minimum balance. To waive the high $25 monthly fee, you’ll need either a $15,000 average monthly balance, $35,000 in combined average monthly balances, two or more qualifying transactions from a BB&T Merchant Services account, or $2,500 or more in eligible purchases each month on your BB&T business debit or credit card. While customers with lower balances and spending thresholds can still open this account, it may not be the wisest financial move as it will cost you $25 a month.

    The account allows 500 free transactions and up to $30,000 in cash processing per statement cycle. You’ll also receive free automatic overdraft protection transfers, two non-BB&T ATM transactions per cycle, and a free personal Elite Gold interest-bearing checking account. Your first order of business checks will be discounted by $100.

    Monthly fees and limits:

    •      $25 waivable monthly fee
    •      500 free transactions per statement cycle ($0.50 per additional transaction)
    •      Up to $30,000 in cash processing per statement cycle

    Best for:

    •      Business owners with high balances
    •      Business owners who will use the account regularly

    Who Are BB&T Business Accounts Right For?

    If you’re low on cash or don’t make too many transactions each month, the Business Value 50 could work best for you. Without a monthly fee or balance minimums, it’s easier to maintain. You just have to keep your transactions below 50.

    The Business Value 200 and Business Value 500 accounts will work better for more active business owners and those with higher balances. If you’re making more purchases, withdrawals, and the like, the Business Value 500 would give you the most flexibility. Just make sure you meet the minimum balance each month to avoid the pretty high service fee.

    With these three BB&T business accounts to choose from, there’s an option for all kinds of business owners. The three accounts mostly differ according to transaction limits and balance minimums. Before opening an account, it helps to take stock of your regular transaction habits. That way, you can best determine which account is right for you.

    View Article Sources
    Sally Lauckner
    Editor-in-Chief at Fundera

    Sally Lauckner

    Sally Lauckner is the editor-in-chief of the Fundera Ledger and the editorial director at Fundera.

    Sally has over a decade of experience in print and online journalism. Previously she was the senior editor at SmartAsset—a Y Combinator-backed fintech startup that provides personal finance advice. There she edited articles and data reports on topics including taxes, mortgages, banking, credit cards, investing, insurance, and retirement planning. She has also held various editorial roles at AOL.com, Huffington Post, and Glamour magazine. Her work has also appeared in Marie Claire, Teen Vogue, and Cosmopolitan magazines. 

    Read Full Author Bio
    What's Fundera?
    • About Fundera
    • FAQs
    • How It Works
    Connect With Us
    • ✉️content@fundera.com
    Learn More
    • Resources
    • Privacy Policy
    • |
    • Terms of Service
    © 2021 Fundera Inc., 123 William Street. 21st Floor, New York, NY 10038. All Rights Reserved. Made with 💛in NYC.