A business checking account made for small & emerging businesses
BUSINESS ESSENTIAL CHECKING
Designed to meet the foundational banking needs of small businesses, this account keeps things straightforward - without the complexity or high costs - so you can focus on growing your business. Available to open online only.
Banking made for business helps you do more
KEY BENEFITS
Enhanced security
Help minimize risk with fraud prevention and chip technology.
Easy money movement
Transfer money and pay bills in minutes.
Convenient banking
Get time back to run your business with resources, tools, and services designed to help you operate on-the-go.
Community commitment
Benefit from a community bank with an expansive network.
Simplify your financial management
Enjoy low fees, flexible features, and seamless integration with your favorite accounting tools.
- $5 monthly maintenance fee waived for first 3 months{{d1226*}}
- No charge for first 25 transactions items each month{{d369*}}
- $2,500 included cash deposits{{d489*}}
Ways to waive the monthly maintenance fee{{d1225*}}
- Simply carry a $1,000 average daily balance per cycle OR
- Complete $300 in debit card transactions per month
SOLUTIONS AVAILABLE WITH ALL ACCOUNT TYPES
No matter which business checking account you choose, you'll benefit from seamless integration with a range of solutions designed to support your business's needs.
Cash Flow Management
Optimize cash flow with solutions to help support day-to-day operations.
Customized Debit Card
Personalize your debit card to match your business.{{d367*}}
Merchant Services
Easily accept payments and manage transactions.{{d219*}}
Business Financing
Learn about financing options that work for your business.
Business Essential Checking Fees
FEE
DETAILS
Monthly Maintenance Charge
$5.00
Additional Transaction Items Fee{{d369*}}
$1.00 per transaction item, in excess of first 25 checks paid, checks deposited, deposited tickets (whether physical or create virtually in connection with an ATM, mobile, remote check deposit, or other electronic deposit), ACH credits received(not generated by the customer), and ACH debits received (not generated by the customer). ATM cash deposits are not considered a transaction item.
Monthly Paper Statement Fee
$3.00 or waived if acount is enrolled in electronic delivery and does not receive paper statement
Additional Currency Deposited or Supplied{{d489*}}
Fees for additional currency deposited or supplied (including deposits completed at an M&T ATM) are $0.27/$100.
Ready to open a Business Essential Checking account?
Please prepare the following:
- Your SSN, personal address, email address & mobile phone number
- Your business's Taxpayer Identification Number (EIN, SSN, ITIN)
- Name, email address and mobile phone number or owner who has 100% ownership of the company
Support & strategies for every stage
BUSINESS EDUCATION CENTER
Explore customized advice, tools, and insights to help you manage your finances, grow your business, and achieve your goals.
Streamlined Online Banking to fuel your growth
FOCUS ON GROWTH
Manage your business finances securely and easily with a user-friendly platform. For personalized support, visit our local branches to get the expertise you need.
- Transfer funds
- Card management tools
- Mobile bill pay {{d685*}}
- Mobile check deposit {{d391*}}
Top business checking questions, answered by our experts.
A small business checking account is a type of business account tailored to the needs of small businesses, freelancers and entrepreneurs to help manage day-to-day finances efficiently. While similar to a general business checking account, small business checking accounts often come with features and fee structures that accommodate smaller budgets and lower transaction volumes.
Using a business checking account for your small business offers several important benefits:
- Separates business and personal finances
- Pay vendors, employees and other stakeholders under your business name, creating a more professional impression
- Enhanced financial management with transaction records, monthly statements and simplifies bookkeeping.
- Supports business growth as business checking accounts often include access to additional services for small businesses, such as Merchant Services and Business Credit Cards.
- Reducing your tax liability with clear records of your business expenses.
To open a business checking account, you’ll need the following documentation:
- Personal Identification: All applicants must provide two (2) primary forms of identification OR one (1) primary and two (2) secondary forms of ID
- Owner/Signer Information: Full legal name, address, date of birth, country(ies) of citizenship, country of residence, % of ownership (only for owners), Social Security Number
- Business Documentation - Learn More
You can apply online or in-person at an M&T Branch.
Yes, M&T Bank allows you to open a small business checking account online. The process is designed to be straightforward and typically takes about 10 minutes. Open Online
