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Business Checking Accounts

A checking account is probably your company's primary tool for transacting day-to-day business. To choose the account that best complements your financial needs, there are two key factors to consider: how many checking account transactions you make each statement cycle, and the average balance that you carry in your account. Our business checking accounts are designed for a range of account activity levels and balances.

 

Choose the best account for your business
  Account Minimum to Open Monthly Fee Requirement to Waive Monthly Fee Transactions Allowed Fee per Transaction After # Allowed
The perfect account for sole proprietorships Small Business Checking $50.00 $0.00 N/A 75 $0.35
A relationship account for businesses with low account activity Business Relationship Checking I $50.00 $10.00 $5,000 monthly combined* checking, savings & loan balances under same TIN 200 $0.35
A relationship account for businesses with moderate account activity Business Relationship Checking II $50.00 $15.00 $25,000 monthly combined* checking, savings & loan balances under same TIN 300 $0.35
A relationship account for businesses with high account activity Business Relationship Checking III $50.00 $40.00 $50,000 monthly combined* checking, savings & loan balances under same TIN 600 $0.35
An account for businesses with high volume activity including cash management services Business Checking $50.00 $20.00 N/A N/A $1.00 per credit or deposit
$0.24 per check or charge
$0.15 per deposited item
$.025 per ACH deposit
(Earnings credit to offset fees)
An economical account for non-profit organizations Non-Profit Checking $50.00 $0.00 N/A 200

 *The Credit Reserve loan product is not included in the monthly combined analysis to determine waiving of monthly fee.

 

Small Business Checking

This is the perfect account for sole proprietors. Washington Trust’s Small Business Checking account offers:
  • $50.00 minimum to open the account
  • No monthly fees
  • No charge for the first 75 transactions, including checks paid, ACH debits/credits, ATM/debit card activity, deposits, and deposited items
  • Excess transaction fee of $.35 for each transaction in excess of 75 during a statement cycle. Transactions include checks paid, ACH debits/credits, ATM/debit card activity, deposits, and deposited items
  • Free online bill payment
  • Free business debit card is available

Business Relationship Checking I

Washington Trust offers a relationship account for businesses with low account activity. This account offers:
  • $50.00 minimum to open the account
  • No charge for the first 200 transactions, including checks paid, ACH debits/credits, ATM/debit card activity, deposits, and deposited items
  • Flat fee of $10.00 per month, waived if a $ $5,000 monthly combined checking, savings & loan balances under same TIN
  • Excess transaction fee of $.35 for each transaction in excess of 200 during a statement cycle.
  • Transactions include checks paid, ACH debits/credits, ATM/debit card activity, deposits, and deposited items
  • Free online bill payment
  • Free business debit card is available

Business Relationship Checking II

A relationship account for businesses with moderate account activity. Washington Trust’s Business Relationship Checking II offers:
  • $50.00 minimum to open the account
  • No charge for the first 300 transactions, including checks paid, ACH debits/credits, ATM/debit card activity, deposits, and deposited items
  • Flat fee of $15.00 per month, waived if a $25,000 monthly combined checking, savings & loan balances under same TIN
  • Excess transaction fee of $.35 for each transaction in excess of 300 during a statement cycle.
  • Transactions include checks paid, ACH debits/credits, ATM/debit card activity, deposits, and deposited items
  • Free online bill payment
  • Free business debit card is available

Business Relationship Checking III

Washington Trust offers a relationship account for businesses with high account activity. Business Relationship Checking III offers:
  • $50.00 minimum to open the account
  • No charge for the first 600 transactions, including checks paid, ACH debits/credits, ATM/debit card activity, deposits, and deposited items
  • Flat fee of $40.00 per month, waived if a $50,000 monthly combined checking, savings & loan balances under same TIN
  • Excess transaction fee of $.35 for each transaction in excess of 600 during a statement cycle. Transactions include checks paid, ACH debits/credits, ATM/debit card activity, deposits, and deposited items
  • Free online bill payment
  • Free business debit card is available

Business Checking

An account perfect for businesses with high volume activity including cash management services. Business Checking offers:
  • $20.00 monthly service charge fee
  • $1.00 fee for each credit or deposit
  • $.24 fee for each check or charge
  • $.15 fee for each item deposited
  • $.25 fee per ACH debit/credit
  • Earnings credit allowance (based on a variable rate) is calculated on the average monthly collected balance and is used to offset the monthly service charge fees
  • Free online bill payment
  • Free business debit card is available

Non-Profit Checking

Washington Trust offers an economical account for non-profit organizations. Our Non-Profit Checking account offers:
  • Free checking
  • $50.00 minimum balance to open an account
  • No charge for the first 200 transactions, including checks paid, ACH debits/credits, ATM/debit card activity, deposits, and deposited items
  • Excess transaction fee of $.35 for each transaction in excess of 200 during a statement cycle.
  • Transactions include checks paid, ACH debits/credits, ATM/debit card activity, deposits, and deposited items
  • Free online banking and bill payment
  • Washington Trust can also assist non-profit organizations through sponsorships, grants, and our Reach for the Stars Volunteerism Program. Click here for more information.

Washington Trust's Office for Non-Profit Resources provides free services to connect your organization with the resources and information you need to enhance the effectiveness and efficiency of your programs. We offer resources for:

  • Board Development and strategic planning
  • Sources of funding
  • Financial services
  • Technology services
  • Legal, accounting and insurance specialits
  • And much more!

For more information on Washington Trust's Office for Non-Profit Resources, please call 401-348-1269.

Attorney’s Preferred IOLTA

Use this account to manage your clients' large settlement checks, fees advanced for services not yet performed, or money to pay court fees. Washington Trust’s Attorneys' Preferred IOLTA account is a free checking account that offers:
  • No minimum balance requirement
  • Free domestic and foreign wire transfers
  • Interest paid to the Rhode Island Bar Association
  • Free online banking
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August 24, 2014
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Due to system maintenance, Online Banking and Mobile Banking will be unavailable on Sunday, August 24 between the hours of 12:30 a.m. and 4:30 a.m. and 10:00 p.m. through 11:00 p.m.