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Secure, Free Checking for Your Business

Absolutely free with no monthly maintenance fee, no transaction limits, and no minimum balance requirements.

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Business Interest Checking

Put your money to work

It's just good business to have an account that's able to multitask. With our Business Interest Checking, your money earns while being available for your daily business expenses. Better yet, it does all this without transaction or cash processing limits or fees.

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Product Features

Terms & Fees
Minimum Opening Deposit

$4,500

Minimum Daily Balance

$4,500

Monthly Low Balance Fee

$25/mo

Transaction Fees

None

Statements

Free

Multiple Business Account Holders

Allowed

Earns Interest

Yes

Business Interest Checking Account Rates

Effective Date: May 01, 2024
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Balance Interest Rate APY^
$0 - $7,499.99 0% 0%
$7,500 - $9,999.99 0.25% 0.25%
$10,000 - $24,999.99 0.25% 0.25%
$25,000 - $49,999.99 0.25% 0.25%
$50,000 - $74,999.99 0.30% 0.30%
$75,000 - $99,999.99 0.40% 0.40%
$100,000 and over 0.50% 0.50%

Minimum average daily balance required for some accounts. Rates are accurate as of the effective date displayed, and they are subject to change. The APY (Annual Percentage Yield) is a percentage rate that reflects the total amount of interest paid on the account, based on the interest rate and the frequency of compounding for a 365-day period. Fees may reduce earnings on the account.

Frequently Asked Questions

We know your business keeps you busy! That's why we offer several ways for you to quickly open your SCCU Business Interest Checking account and your business savings account, including our online option. You can also call our Business Services team.

If you have questions about applying for a Business Interest Checking account, our SCCU Business Advisors are ready to help. And, if you'd rather open your account in person, please stop by the SCCU branch location that's convenient for you.

 
What documentation is needed to open a business bank account?
 
Our Account Documentation Checklist includes these required documents and information:
 
Sole Proprietorship:

  • Your Social Security Number or your Federal Business Tax ID (EIN) Number
  • Driver's licenses and Social Security Numbers for all signers who will be on your account

Partnership:

  • Your Federal Employer Identification Number (EIN)
  • Partnership Registration verified through FL Secretary of State website (www.sunbiz.org)
  • Copy of entire executed Partnership Agreement
  • All Signers/Beneficial Owner Information

Corporations (S-Corp, C-Corp and LLC) including Associations/Organizations

  • Articles of Incorporation (S-Corp/C-Corp) or Articles of Organization (LLC) Registered
    with the State of Florida
  • Corporation verified through FL Secretary of State website (www.sunbiz.org)
  • All Signers/Beneficial Owner Information
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There are many important reasons a business owner should have a business bank account separate from his or her personal account, including:

Tax purposes. No matter what type of business you have—online, run from your home, or in a brick-and-  mortar location—a business bank account will help simplify tracking expenses and income and make filing easier at tax time. With your business interest checking account at SCCU, you have fast online access to account records that can help at tax time as well.

Legal status. Mixing your personal and business financial activities may be a problem if you have a corporation or LLC and your business faces legal issues involving liability.

Convenience. Your SCCU business interest checking account includes free mobile and online banking, free online bill payment, and a free Business Visa ® Debit Card that save you time and make managing your company's money easier.

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At SCCU, we have a $4,500 minimum to open a business account, which gives you membership in our credit union, access to a range of convenient free services and more.

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As a not-for-profit, member-owned credit union, we return profits to members like you in many ways, including low-cost or free services. Your Business Interest Checking account includes these services at no cost to you:

  • Free Business Visa ® Debit Card
  • Free Online Banking
  • Free Mobile Banking
  • Free Online Bill Payer
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Business interest checking is a checking account that's designed specifically for use by companies and other organizations and that bears interest on the balance kept in the account. At Space Coast Credit Union, our Business Interest Checking account is just one of the ways we customize our services to the needs of your business to help improve the cash flow that's critical to your success.

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When you don't have time to get to your local SCCU branch, your branch comes to you! These are just some of the online self-service features that come with your SCCU Business Interest Checking account:

  • Pay bills with SCCU's Online Bill Payer service—make one-time payments or schedule recurring payments, and pay any business or individual
  • Transfer funds between SCCU accounts, such as paying your SCCU business loans by transferring payments from your business checking
  • Make balance inquiries at any time of day, any day of the year
  • View up to 90 days of cleared checks
  • View and print your account tax forms
  • View an electronic version of your paper account statements
  • View, print or save up to five years of account statements

Your SCCU Business Interest Checking account also offers you customizable online banking alerts that notify you of several types of account activity, including check clearings, balance limits, debit or credit card purchases, account withdrawals, direct deposits and balance limits.

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At SCCU, you enjoy a range of benefits with our Business Interest Checking account, not only as a business owner but also as a member of a credit union. Here are just some of the reasons SCCU is the bank with the best business checking account:

  • Your account earns interest at competitive rates
  • There are no fees when your balance stays above $4,500
  • There are no transaction limits (a combination of items deposited and checks or transfers cleared from your account)
  • Your account includes a free Business Visa® Debit Card
  • You have the convenience of free online banking, mobile banking, and bill payer services
  • You have free access to expert advice and consultation services from our team of experienced Business Advisors

We also offer a range of essential business and merchant services to help you run your business. These include:

  • The SCCU payroll and time management platform: Simple solutions to make payroll processing easier, such as in-house check printing and comprehensive reporting, with 24/7 support by e-mail, chat, or phone
  • Merchant services: Cost-effective merchant processing that allows your customers to pay you with a debit or credit card and turns your mobile device into a terminal that accepts a range of card types
  • Mobile deposit: A fast, convenient way to securely deposit customer checks electronically to your SCCU Business Interest Checking account, saving you trips to the branch location
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