Business Checking

At Bank Rhode Island your checking account is more than just a way to pay bills; it’s the center of your banking relationship.

That’s why we offer a full range of checking solutions and services designed to put you in control of your money.

Checking Accounts Designed Just for Your Business

To learn more about our business checking solutions and other business services, please contact your local branch or our Business Banking Team.

At Bank Rhode Island, we realize that no two businesses are alike. That’s why we offer business checking accounts that fit the needs of any organization, regardless of size or complexity. Our accounts come with a range of features and the exceptional service our customers have come to expect from BankRI.

Business Checking

Business Checking is designed for businesses with lower to moderate banking activity and that typically conduct fewer than 150 transactions per month.

Business Premium Checking

Business Premium Checking is designed for businesses that typically have checking balances in excess of $12,500 (or checking, savings and money market balances in excess of $25,000) and that may need access to basic cash management services, such as online ACH or wire transfer initiation.

Commercial Checking

For businesses looking for a checking account with an Earnings Credit and access to a full range of cash management services, our Commercial Checking account is the right choice.

Community Business Checking

For those unincorporated organizations that need basic, low cost, low transaction volume checking account.

IOLTA Checking

An IOLTA from BankRI is a free, interest-bearing checking account for lawyers who administer client funds.

A BankRI Business Banker will be happy to discuss your business’s unique financial needs and provide a tailored solution.

Compare Account Options

Business Checking AccountBusiness Premium Checking AccountCommercial Checking AccountCommunity Business Checking
For businesses with low monthly transaction activity, Business Checking is an affordable option for your day to day business needs.Designed specifically for businesses with moderate transaction activity, Business Premium Checking offers 400 transactions per month.For large companies with heavy transaction activity and sophisticated cash management needs, we offer Commercial Checking.For those unincorporated organizations that need basic, low cost, low transaction volume checking account.
Benefits
  • Free Online Banking with unlimited Bill Pay.
  • Convenient night deposit drops.
  • Customized employee access via Debit MasterCard®.
  • FREE personal Premium Checking and Premium Savings account.
  • FREE first order of Business Wallet style checks.
  • FREE Online Banking with unlimited Bill Pay.
  • Convenient night deposit drops.
  • Customized employee access via Debit MasterCard®.
  • FREE personal Premium Checking and Premium Savings account.
  • FREE first order of Business Wallet style checks or $50.00 credit towards first order of checks.
  • Monthly earnings credit on balances to offset service fees.
  • Quick clearing times.
  • Convenient night deposit drops.
  • Customized employee access via Debit MasterCard®.
  • No Monthly Service Charge when you sign up for eStatements.
  • Debit Card, Online & Mobile Banking.
  • Unlimited (no fee) Deposit Transactions.
  • 20 FREE Debits per Statement Period.
  • No Minimum Balance Requirement.
Monthly Service Charge$9/month and $0.50 per
item 2 processed in excess of 100.

To Avoid Monthly Service Charges:
Maintain an average daily balance of $6,000 in the account.
$20/month and $0.35 per item2 processed in excess of 400.

To Avoid Monthly Service Charges:
Maintain an average daily balance of $15,000 in your account or $25,000 in combined accounts4.
Service fees vary.No Monthly Service Charge3.

$2.00 Monthly charge with Paper Statements.
  1. Accounts are insured up to current FDIC limits.
  2. Items include checks paid, electronic items, deposits and deposited items.
  3. With eStatements only
  4. Includes the average daily balance of business deposit accounts and balances of open end business credit accounts and closed end business loans held in the same business name, as of the statement cycle date.

Account Details

For businesses with low monthly transaction activity, Business Checking is an affordable option for your day to day business needs.

Benefits:

  • Free Online Banking with unlimited Bill Pay
  • Convenient night deposit drops
  • Customized employee access via Debit MasterCard®
  • FREE personal Premium Checking account
  • FREE first order of Business Wallet style checks

Monthly Service Charge:

  • $9/month and $0.50 per item1 processed in excess of 100.
  • To Avoid Monthly Service Charges: Maintain an average daily balance of $6,000 in the account.

 

1Items include checks paid, electronic items, deposits and deposited items.

Designed specifically for businesses with moderate transaction activity, Business Premium Checking offers 400 transactions per month.

Benefits:

  • FREE Online Banking with unlimited Bill Pay
  • Convenient night deposit drops
  • Customized employee access via Debit MasterCard ®
  • FREE personal Premium Checking and Premium Savings account
  • FREE first order of Business Wallet style checks or $50.00 credit towards first order of checks
  • Discount on Payroll Service

Monthly Service Charge:

  • $20/month and $0.35 per item1 processed in excess of 400.
  • To Avoid Monthly Service Charges: Maintain an average balance of $15,000 in your account or $25,000 in combined accounts.

 

1Items include checks paid, electronic items, deposits and deposited items.

For large companies with heavy transaction activity and sophisticated cash management needs, we offer Commercial Checking.

Benefits:

  • Monthly earnings credit on balances to offset service fees
  • Quick clearing times
  • Convenient night deposit drops
  • Customized employee access via Debit MasterCard®

Monthly Service Charge:

  • Service fees vary.

Community Business Checking is a basic account for unincorporated entities such as community groups, clubs and leagues. It provides a no or low-cost account with many features - including no minimum balance requirement.

Community Business Checking:

  • 20 free debits per statement period1
  • No minimum balance requirement
  • No monthly charges when eStatements are chosen2
  • Free Online Banking, Mobile Banking & eStatements
  • Free BankRI Debit BusinessCard ®
  • Surcharge free transactions at SUM ATMs

 

1Each additional debit over 20 is $1.00
2A $2.00 monthly fee applies if you choose to receive paper statements

An IOLTA from BankRI is a free account that allows lawyers who administer client funds an opportunity to earn interest on their funds. There is a $100 minimum to open this account.

IOLTA Checking Benefits Include:

Re$ubmitIt Check Recovery Service

Our electronic check recovery service significantly reduces the burden of collections, while potentially doubling your recovery rate. You collect more returned checks and get 100% of the face value of all checks that are collected electronically.

Need more than just checking?

Our continually expanding Cash Management services provide advanced banking solutions that allow you to increase the efficiency of your day-to-day operations while reducing your expenses.
  • Deposit XPress
  • Business Credit Card
  • Card Payment Processing
  • Payroll Services