Small Business Center
Checking & Savings
We have a variety of accounts that are sure to meet your business needs — find the one that’s right for you! Help meet the financial goals of your business with one of our checking and savings accounts.
Compare Business Checking Accounts
| Services | SMALL BUSINESS CHECKING | BUSINESS INTEREST CHECKING | NON-PROFIT/PUBLIC FUNDS INTEREST CHECKING | CUSTOM BUSINESS CHECKING |
|---|---|---|---|---|
| MINIMUM BALANCE | None | $10,000 daily balance | $5,000 daily balance | None |
| SERVICE CHARGES | None | $10 monthly if minimum balance is not maintained | $10 monthly if minimum balance is not maintained | Customized fixed monthly fee |
| MINIMUM BALANCE TO EARN INTEREST | N/A | Earn Interest | Earn Interest | N/A |
| TIERED BALANCES | N/A |
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N/A |
| TRANSACTIONS PER MONTH | <=200 | <=200 | <=100 | Unlimited |
| INTEREST PAID | N/A | Interest compounded & credited on monthly basis | Interest compounded & credited on monthly basis | N/A |
| CASH OR COIN DEPOSITS | No cost | No cost | No cost | No cost |
| PER TRANSACTION CHARGES | >200; $0.25 each | >200; $0.25 each | >100; $0.25 each | N/A |
| OPEN AMOUNT | $50 | $50 | $50 | $50 |
| FREE CHECKS |
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| DEPOSITS & WITHDRAWALS | Up to 200/statement cycle | Up to 200/statement cycle | Up to 100/statement cycle | Unlimited |
| BUSINESS CHECKCARD | Up to 5; No annual fee | Up to 5; No annual fee | Up to 5; No annual fee | N/A |
| STATEMENTS | eStatements available within eBanking | eStatements available within eBanking | eStatements available within eBanking | eStatements available within eBanking |
| OVERDRAFT PROTECTION AVAILABLE | Yes, if qualify | Yes, if qualify | Yes, if qualify | Yes, if qualify |
| BUSINESS EBANKING |
FREE Standard eBanking | Enhanced or full-service eBanking available for a low monthly fee | Enhanced or full-service eBanking available for a low monthly fee | Enhanced or full-service eBanking available for a low monthly fee |
| BUSINESS EPAY | No cost | No cost | No cost | No cost |
Whatever account you choose, each BankOnBuffalo business checking account offers these great features:
- Business eBanking – for 24/7 account access via the Internet
- Business Check Card – Up to five cards per account with no annual fee
- ServiceCall – for 24/7 account access via the telephone
We have many types of accounts to choose from — find the one that’s right for you!
Loans
We’re committed to helping you grow your business. With options and resources to help get you the financing you need to purchase equipment, expand your office space, manage your inventory, and more.
Business Loans
Commercial Term Loans are designed for those one-time purchases of land, building, equipment or other fixed assets that are essential whether you’re just getting started, growing, relocating or simply replacing equipment.
Commercial Lines of Credit are useful as temporary working capital. Whether the funds are needed for seasonal or general inventory, supplies or to support growth, a line of credit will help your cash flow.
Small Business Xpress Term Loans and Line of Credit
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Businesses can now apply for a Small Business Xpress (“SBX”) term loan or line of credit online for as little as $5,000 and up to $100,000. It only takes about 15 minutes to complete the application. You will get an answer to your request just a few minutes after a completed application is submitted and all supporting documents have been submitted.
What You Will Need Before You Get Started
We recommend that you have the following documents ready in electronic format before you start the application as you will be asked to upload them as part of the application:
- Two years of the most recent Business tax returns
- Two years of the most recent Personal tax returns for each owner/guarantor for all owners who own 20% or more of the company
- Business Entity Documentation
- Personal Identification Documents
What You Need To Know
- You will be required to open up a business checking account if you do not already own one with the Bank
- If you are not taking an advance on your line of credit at closing, you will have 30 days to fund your deposit account
- Your company needs to be in business for 2 or more years
- A term loan will be funded to the business checking account
- Line of credit draw-downs will be funded to the business checking account
- Payments are required to be made by direct debit from the business checking account
- Personal guarantees are required for all owners with a 20% or more ownership stake
- We’ll take a general security interest in all business assets
- An application fee of 1% of the loan amount or line of credit commitment not to exceed $250 is charged upon approval
- A $100 review fee is charged annually on lines of credit
- There is a 2% fee charged on the outstanding balance of your term loan account if you close out your term loan account due to a refinance with another institution
- You can only apply for one SBX credit product at a time. You will need to wait 180 days before applying again
- You can only open one line of credit through the SBX process
Our credit cards provide a flexible and cost-effective way to manage your business expenses. And, as a BankOnBuffalo Visa corporate cardholder, you not only have the power to make purchases at more than 24 million locations worldwide, but have additional premium benefits that help save you money and provide peace of mind. The many great features include:
Special Features
- ScoreCard® Rewards: Earn 1 point for every $1 you spend in net purchases. Redeem points for gift cards, merchandise and travel!
- Contactless Technology: We now offer contactless technology with your Visa® Business Rewards Credit Card. Tap, dip or swipe – it is all up to you. Tapping to pay with your VISA contactless credit card can help you avoid touching surfaces at checkout. Each time you tap, your transaction generates a one-time code, making your transaction secure. Click here for more information about tap to pay contactless technology.
- 24/7 Account Access: Just visit www.mycardstatement.com, enter your credit card number and security code, and view your account balance, available credit, amount and date of last payment, minimum payment amount and due date, last statement date, cash advance limit, transactions posted since last statement, and more!
- Cash Advances: Access your available balance by getting a cash advance with your credit card at participating banks worldwide. For easier cash access using your credit card personal identification number (PIN) you can get a cash advance from any ATM displaying the MoneyPass or Plus symbol.
- Auto Rental Collision Damage Waiver Program: Should you need a rental car for business travel, be sure to use your corporate Visa Gold card — this benefit is provided by Visa at no charge to you.
- Around-the-clock Assistance: You have access via a toll-free number to report lost or stolen cards, obtain balance information or recent account activity, and more! For around-the-clock assistance, call 1-800-423-7503.
A Letter of Credit (L/C) is a financing vehicle that essentially substitutes the credit strength of the bank for that of your company. It is flexible and can be tailored to reflect your needs.
Treasury Services
With all the work involved with running a small business, BankOnBuffalo is here to help. Our On-Site Banker and Business eBanking platforms are designed to save you time, money and hassle.
Treasury Services
Enjoy 24/7 online access for all your eBanking needs! Our eBanking platform will allow you to:
- Access your BankOnBuffalo accounts
- Transfer funds between accounts
- View check images
- View deposit images and the items within the deposit
- Originate direct deposit of payroll checks with ACH capabilities
- Initiate wire transfers
- Make tax payments
- Request stop payments
- Send and receive secure messages to/from the bank
- Reconcile your account through Quicken, Quickbooks, Excel, and more
- Pay and receive your monthly bills with ePay and eBills
Do all of this yourself or set up specified authorization for specific personnel within your company to handle certain portions of the administrative tasks. The ability to add, delete or modify user permissions allows you control over employee access to eBanking.
Let your money work for you! Maximize your interest earnings while maintaining maximum liquidity.
Special Features
- Increase available funds to ensure maximum investment return
- Reduce time spent manually transferring between and funding separate accounts
- Easily reconcile accounts by referencing transfer details listed on monthly statements, AND in online banking 24/7!
- Rest easy knowing that your outstanding items are being covered by your available funds
With On-Site Banker, the bank is never farther away than your computer. Capture your checks and money orders electronically with a secure accountable check processing system. Log in to On-Site Banker at any time to review your transactions.
How Does it Work?
Deposits are made by using a small desktop scanner (which we will provide) and a computer with Internet access. You will simply (1) Scan each check to be included with the deposit, (2) Enter the check amount into the computer, and (3) Submit the deposit to the bank. Your deposit has now been created and securely transmitted to the bank!
Special Features
- Receive funds faster
- Eliminate delivering checks and money orders to your bank
- Improve your cash flow
- No need to purchase, install, or maintain software
- Improve efficiency and profitability
The impact of check fraud can be hard on any business. With millions of checks clearing through payment systems each day, businesses don’t have the time or resources to inspect each one – and yet, it’s a threat that cannot be ignored.
BankOnBuffalo has the answer. Introducing Positive Pay Plus – the powerful, proven solution to combating check fraud. As an early warning fraud detection system, Positive Pay Plus arms your business with the information needed to stop check and ACH fraud before it becomes a loss. Positive Pay Plus allows you to electronically share your check register for all written checks with BankOnBuffalo. We will only pay the checks listed on the register – with the precise specifications that you indicate – such as amount, serial number, etc.
Special Features
- Reduces fraud – We only process what you tell us to, so fraudulent checks can be reviewed and rejected
- Saves time and money – Reduces labor associated with manual check prevention measures
- Convenient reminders – Get notices via email and/or texts when an item needs to be reviewed prior to being paid
- Puts YOU in control – Provides more accuracy and greater control over your cash flow
- Offers quick and easy access – Issue checks and ACH transaction and approve Positive Pay Plus exception items from virtually anywhere through Internet access
BankOnBuffalo’s Mobile Banking app, goMobile, makes it possible for you to securely access your financial accounts on the go. We use the latest technology to ensure your information is protected. No matter where you are or what mobile device you use, you have the convenience and flexibility to manage your accounts on your mobile device. Mobile banking enables you to:
Special Features
- Check your account balances
- Review your transaction history
- Transfer funds between accounts
- Deposit checks with Mobile Deposit
Bank with Peace of Mind
Because BankOnBuffalo uses the latest mobile banking technology, your accounts and your identity are safe. Take your bank wherever life takes you — download the goMobile app for the convenience of BankOnBuffalo Mobile Banking today.
Try it now and see how easy it is to have 24/7 account access at your fingertips.
Search for “BankOnBuffalo goMobile” in the Apple App Store or Google Play Store and look for this goMobile app button.
Simplify your accounts receivable process and improve funds availability!
Reduce mail float and turn receivables into available cash quicker. Remittances are picked up and processed daily, and online reporting gives the business the capability to determine how best to utilize their funds on deposit. Wholesale and retail options available, as well as custom reporting and decisioning modules.
BankOnBuffalo’s ACH Payment service, within Business eBanking, allows any business customer the ability to originate electronic transactions to any bank nationwide. Direct deposit of payroll is just one of the many benefits to your organization.
Services
- Direct Deposit Payroll Services
- Added Employee Benefits
- Direct Payments
- Corporate Cash Concentration and Disbursement
BankOnBuffalo offers Merchant Credit Card Processing for those businesses looking for the capability of accepting major credit cards as payment for products or services rendered.
Special Features
- Electronic, online and mobile system options available
- Help desk available 24/7
- Paper supplies provided at no charge for the first year
- Cost: low set up fee + equipment and applicable discount rate
Our credit cards provide a flexible and cost-effective way to manage your business expenses.
And, as a BankOnBuffalo Visa corporate cardholder, you not only have the power to make purchases at more than 24 million locations worldwide, but have additional premium benefits that help save you money and provide peace of mind.
The many great features include:
- ScoreCard® Rewards: Earn 1 point for every $1 you spend in net purchases. Redeem points for gift cards, merchandise and travel!
- Contactless Technology: We now offer contactless technology with your Visa® Gold Reward Credit Card. Tap, dip or swipe – it is all up to you. Tapping to pay with your VISA contactless credit card can help you avoid touching surfaces at checkout. Each time you tap, your transaction generates a one-time code, making your transaction secure. Click here for more information about tap to pay contactless technology.
- 24/7 Account Access: Just visit www.mycardstatement.com, enter your credit card number and security code, and view your account balance, available credit, amount and date of last payment, minimum payment amount and due date, last statement date, cash advance limit, transactions posted since last statement, and more!
- Cash Advances: Access your available balance by getting a cash advance with your credit card at participating banks worldwide. For easier cash access using your credit card personal identification number (PIN) you can get a cash advance from any ATM displaying the MoneyPass or Plus symbol.
- Auto Rental Collision Damage Waiver Program: Should you need a rental car for business travel, be sure to use your corporate Visa Gold card — this benefit is provided by Visa at no charge to you.
- Around-the-clock Assistance: You have access via a toll-free number to report lost or stolen cards, obtain balance information or recent account activity, and more! For around-the-clock assistance, call 1-800-423-7503.
Visa® Corporate Purchasing Card
Purchasing Power with a Cash Rebate Incentive – Manage and track all card activity in real time and qualify for a percentage of the transactional spend back in the form of an annual cash rebate to the company. Plus you have the option to print your company logo on the cards.
Visa® Corporate Purchasing Card with Fleet
Fleet Prompts and Reporting – Extra security and more robust reporting with “pay-at-the-pump” prompts such as odometer mileage or driver ID number. Businesses can assign a card to a vehicle or driver, and limit to fuel only purchases if desired.
Convenience Services
We offer flexible solutions for busy clients like you! From eBanking to credit card rewards, we are here to help you succeed. Save money and have peace of mind with BankOnBuffalo.