Armed Forces Bank has branches throughout 16 states. They also have thousands of surcharge-free ATMs nationwide through their MoneyPass network. Their small business offerings include savings and business checking accounts, lines and loans, ACH and payroll services, fraud protection, merchant processing, and more. They have an A+ BBB rating and a mix of positive and negative reviews online.
Armed Forces Bank Business Checking Rates & Fees
|Monthly Fee||No monthly fee|
|Minimum Balance Requirement||No minimum balance requirement|
|Transaction Fee||$100 free items per month, $0.50 each thereafter|
|Wire Transfer Fee||Incoming (domestic): $5|
Incoming (international): $10
Outgoing (domestic): $35
Outgoing (international): $40-$50
|Cash Deposit Fee||Information not available|
|Overdraft Fee||$29 each (maximum of $125 per business day)|
|ATM Fee||$1.50 per foreign ATM transaction|
Armed Forces Bank Network
Armed Forces Bank has branches throughout Alabama, Arizona, California, Colorado, Florida, Georgia, Illinois, Kansas, Kentucky, Missouri, New Jersey, Nevada, Texas, Virginia, Washington, and Wyoming. They are also part of the MoneyPass network, which provides their customers with access to thousands of surcharge-free ATMs nationwide. You can use their branch locator to check which locations are closest to you.
Armed Forces Bank Additional Business Banking Services
Armed Forces Bank also offers the following business services: business savings, money market, and retirement accounts, lines of credit, business term loans, business credit cards, and commercial real estate financing. They currently do not offer SBA loans and wealth management. Find out more about their small business offerings on their website.
|Online & Mobile Banking||✓|
|Money Market Accounts||✓|
|Business Line of Credit||✓|
|Business Credit Cards||✓|
|Commercial Real Estate Loans||✓|
Best Business Checking Account for Small Businesses
Want to know which bank we named the best business checking account for small businesses? Read our business checking account buyer’s guide comparing the top options.