At Peoples Bank of Alabama, we want to help your business succeed. Whether you're established or just a startup, we equip you with the right business checking accounts to help manage and maximize your finances. We do this by building a close relationship with you to understand your needs and provide customized banking tools that help you grow. Peoples Bank was recognized on Forbes’s 2023 and 2024 list of ‘Best Banks in Each State.
See which business checking account will work best for you and your business and how to open an account with us. For a streamlined experience, we invite you to schedule a time to come by and open an account with help from a local banker. This helps ensure a smooth process from start to finish.
| Type of Business Account | Features | Benefits | Fees | ||
Basic Business Checking |
| Simple, low-cost option for small and midsize businesses |
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| Business Analysis |
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| Interest-Bearing Business Checking |
| Maintain access to your operating balance while interest earns you extra cash |
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| IOLTA |
| Streamlines trust fund management for legal professionals | None | ||
| Nonprofit Business Checking |
| Transparent money management increases the credibility of the nonprofit organization | None | ||
| Nonprofit Checking with Interest |
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| $10 monthly waived with $1,000 balance |
Why Choose Peoples Bank of Alabama for Your Business’s Banking Needs?
Peoples Bank of Alabama is your trusted partner for doing business in north central Alabama.
Our branches and ATMs are spread across four regions, bringing us closer to you. While we offer the capabilities of a big bank, we're still a locally rooted bank that understands the Alabama business landscape and wants to see you grow.
As part of the Independent Community Bankers of America, Peoples Bank is actively involved in the local communities and was even featured on the Forbes List of America’s Best Banks in Each State in 2023 and 2024!
Business Banking Features
Online Banking: Whether you're looking to transfer money, review statements, pay bills, or check balances, our online platforms allow you to manage business finances conveniently and worry-free. You can access our business banking products from your phone. The MyCardRules app lets you manage your debit card within just a few taps, including setting alerts, location-based restrictions, and spending limits.
MyCard Rules App: The MyCardRules app lets you manage your debit card within just a few taps, including setting alerts, location-based restrictions, and spending limits.
Dedicated Cash Management Team: As a local community bank, we get to know your business better than anyone. Your experienced cash management team provides the same level of care to your accounts as we do to our own so you can be confident in your business’s financial status. Your team can help expedite cash inflows, maintain liquidity, manage borrowings, reduce financial risks, and amplify earnings.
Receivables, Cash Position Services, & Payables: Our services streamline receivables, cash position management, and payables to improve efficiency and reduce costs. We offer ACH pre-authorized debits, remote deposit capture, and Lockbox payment processing to speed up receivables and reduce labor. Our online banking and Zero Balance Accounts help optimize cash flow, while the automated Line of Credit Sweep lowers borrowing costs. In terms of payables, ACH transfers and wire services provide flexibility, while Positive Pay minimizes check fraud and eliminates the need for physical checks.
How to Open a Business Checking Account at Peoples Bank
To open a business checking account with Peoples Bank of Alabama, contact a representative today! We are here to be a trusted partner for your business and its continued growth and success.
Frequently Asked Questions
The minimum opening deposit can vary based on the account type.
Yes, some accounts are subject to maintenance and service fees. Please see our fee schedule or speak to a local banker for more information.
Ensure the account's transaction fees and limits, monthly maintenance charges, minimum balance requirements, and interest options match your business needs. You can also consider online banking tools.
While checking accounts help with everyday transactions like payroll and vendor payments, business savings accounts help money earn interest. Monthly transactions in business savings accounts are typically restricted.
Our Business Checking Account Options
Whether you’re a retail business, provide services, or run a nonprofit, we offer the following business checking accounts to help manage your finances and support your business goals.
Business Checking
This account is perfect for small and midsize enterprises that have less than 500 monthly transactions. It’s ideal for operations, petty cash, payroll, and other straightforward expenses.
Features
$100 minimum opening deposit
$.25 per extra transaction above 500
No monthly maintenance charges
Business Analysis
This account type provides structured, cost-effective banking solutions for businesses with large balances and transaction volumes.
Features
$100 initial deposit
$15 monthly maintenance fee
$.10 fee per item processed within the deposit
$.40 fee per deposit ticket processed
$.10 fee per credit, debit, or electronic debit
Earnings credit can offset transaction fees depending on account balance
Interest-Bearing Business Checking
The account allows your business to earn interest on your account balance while maintaining cash flow for daily expenses.
Features
$100 minimum opening deposit
$10 monthly fee waived for maintaining a $5,000 minimum balance
Competitive interest on balances of $5,000 and above
$.25 per extra transaction above 500
IOLTA (Interest on Lawyers Trust Accounts)
The account enables attorneys to hold client funds. Generally, these are held for a short time until they’re disbursed.
Features
No service charge
No minimum balance
No initial deposit required
$1,000 balance to earn interest
Nonprofit Business Checking
Nonprofit Business Checking allows 501(c)(3) nonprofits, youth sporting associations, and churches to manage their finances transparently and efficiently.
Features
$100 initial deposit
No minimum balance requirements
Unlimited check writing
Non Profit Checking with Interest
The account allows nonprofits to earn interest on idle funds without losing access to their operating balance.
Features
$100 initial deposit
Unlimited check writing
$10 monthly fee waived for maintaining a $1,000 minimum balance
Competitive interest on balances of $2,500 and above
For information on Public Funds accounts click here.