Choosing a business checking account is one of the first money decisions a new company makes, and it is worth getting right. First Citizens Bank offers several business checking options built for different sizes and transaction volumes. This review walks through how the lineup works, what fees to watch for, and how to pick the tier that fits your business as of July 2026.
A quick note before we start: several unrelated banks use the words First Citizens in their name. This article focuses on First Citizens Bank, the national bank at firstcitizens.com. Always confirm you are on the right bank's site before opening an account.
Key facts at a glance
| Feature | What to expect (as of July 2026) |
|---|---|
| Account tiers | Multiple, from a basic account to higher-volume options |
| Monthly fee | Varies by tier; entry accounts can be low or waivable |
| Fee waiver | Often tied to a minimum balance or combined deposits |
| Transactions | Free monthly items included, then a per-item charge |
| Best for | Small businesses up to higher-volume operations |
Exact fees, limits, and terms depend on the account and can change. Confirm current details directly with First Citizens before you apply.
How the business checking lineup is structured
First Citizens organizes its business checking around tiers. The idea is that a freelancer with a handful of transactions each month has different needs than a growing company processing hundreds.
Entry-level accounts are built for lower activity. They tend to include a set number of free transactions each month and charge a small fee per item after that. These accounts often carry a low monthly fee, and in some cases the fee can be waived by meeting a balance requirement.
Higher tiers add more free transactions and cash-handling capacity. They usually come with a larger monthly fee, but that fee can often be waived if you keep enough on deposit. For example, some First Citizens business checking accounts waive the monthly fee when you maintain a set level of combined deposits, with a modest fee, such as around $10, charged in months you fall short. Because thresholds and amounts vary by account, verify the current figures before choosing.
Watch the monthly fee and how to waive it
The monthly maintenance fee is the number most business owners focus on, and for good reason. Over a year, a $10 or $25 monthly fee adds up.
The good news is that many business checking accounts let you avoid the fee. Common waiver methods include keeping a minimum average balance, maintaining a set amount across your business deposit accounts, or a combination of both. If your business regularly holds a healthy balance, a higher tier can end up costing nothing while giving you more free transactions.
If your balance swings low some months, an account with a low or no baseline fee may be safer than one with a larger fee you might not always waive.
Transaction limits and per-item charges
Business checking accounts usually cap the number of free transactions per month. A transaction can mean a deposit, a withdrawal, or a check paid. Once you pass the included number, the bank charges a small fee per item, often a fraction of a dollar.
Cash deposits may also have limits. If your business handles a lot of cash, look closely at the cash-deposit allowance, because exceeding it can trigger extra charges. Matching the account tier to your real monthly activity is the key to keeping costs down.
Who each tier suits
A basic or entry account tends to fit sole proprietors, freelancers, and side businesses with light transaction volume. The appeal is a low cost and simple structure.
Mid and higher tiers suit established small businesses and growing companies that process more payments, deposit more cash, or want features like enhanced online tools. If you expect to grow, it can make sense to start one tier up so you do not outgrow the account right away. Review the free-transaction counts and fee waivers for each option and match them to your numbers.
How to open an account
First Citizens generally lets you apply online or at a branch. To open a business checking account, you will typically need your business formation documents, your Employer Identification Number or Social Security number for sole proprietors, a government-issued photo ID, and details about the owners. Having these ready speeds up the process.
Before you commit, ask for the current fee schedule and disclosure for the specific account. That document spells out the monthly fee, waiver rules, transaction limits, and any cash-handling charges in one place.
What Users Commonly Report
Business owners often describe First Citizens as a full-service option with a range of account choices and access to branches in many states. Some appreciate that fees can be waived by keeping a qualifying balance. Others note that comparing tiers takes a little effort, since the right fit depends on your transaction and cash volume. Experiences vary by business type and location, so your results may differ.
Frequently Asked Questions
Does First Citizens charge a monthly fee for business checking?
It depends on the account tier. Entry accounts may carry a low fee or none, while higher tiers charge more but often let you waive the fee by keeping a minimum balance or combined deposits. Check the current fee schedule for the specific account you want.
How do I avoid the business checking monthly fee?
Many First Citizens business accounts waive the fee when you maintain a required balance or a set level of combined deposits. Some accounts waive it automatically. Confirm the exact threshold in the account disclosure, since the amount varies by tier and can change over time.
Which business checking account should I choose?
Match the account to your monthly activity. If you have few transactions, an entry account keeps costs low. If you process many payments or handle cash, a higher tier with more free transactions may cost less overall. Compare the free-item counts and waiver rules before deciding.
What do I need to open a First Citizens business checking account?
You generally need your business formation documents, an EIN or Social Security number, a government photo ID, and ownership details. Requirements can vary by business structure. Contact First Citizens or check its site for the current checklist before you apply.
This article is general information only, not personal financial advice. Fees, account features, and terms can change, so verify the latest details with First Citizens before opening an account.
