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BankProv’s small business checking account is a great option for small and medium-sized business owners that are looking for safety and security while holding high account balances. Deposits are insured by the FDIC up to a balance of $250,000 per depositor and by the DIF for balances over $250,000. There is a simple online application process to open an account and a $0 minimum deposit requirement.
Summary: BankProv provides an easy online application and 100% insurance on your deposits if there was a bank failure.
Account Opening
Fees
Deposits & Withdrawals
Features
Customer Service
Safe & Secure
HQ | Massachusetts, USA |
Monthly Fee | $50 |
Min. To Open | $0 |
Min. Deposit For No Fee | $250,000 |
Transfer Fee | – $10 incoming domestic wire transfer fee – $25 outgoing domestic wire transfer fee |
Overdraft Fee | $35 |
ATM Fee | $2 out-of-network ATM fee |
Rewards | None |
Transactions | Unlimited deposited items |
Branch Access | Yes |
State Restrictions | Available in all US States |
With BankProv, you’ll receive personalized account onboarding and customized dedicated support to help you find the best solution for your business banking needs. Plus, as all your funds are protected by the FDIC and DIF, you can have full faith that your money is 100% insured in case of bank failure.
You can get started with a BankProv small business checking account in a few simple steps. You can apply online via the website, and you’ll need to provide the following information:
BankProv provides a personalized account onboarding experience to help you get the most out of their products and services. If you have special requirements, you can contact a specialist through their website and they will be in touch with you.
There are several fees to be aware of when opening a small business checking account with BankProv. Some of these fees include:
There are no in-network ATM fees and you are allowed unlimited deposited items per month. There are also no added charges for having fully insured deposits from the FDIC and DIF.
Key features for the BankProv small business checking account include:
There is a suite of cash management services available to deposit and withdraw from your account. You can fund your account via ATM deposits, ACH transfers, wire transfers, and remote check deposits.
You can withdraw cash from any ATM but keep in mind that a fee will apply to out-of-network ATMs. You also have the option to complete a wire transfer, ACH transfer, or use your debit card for withdrawals.
BankProv has several branches available if you require in-person customer service support. The branches are located in Massachusetts and New Hampshire and are open Monday – Friday, 9 am – 5 pm (EST). Certain branches are also open on Saturday mornings.
In addition, you can make inquiries via phone to their customer service center and there is a 24-hour automated telephone banking service. If you have a specific inquiry, you can choose to fill out the form on their contact page.
BankProv is a member of both the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF). Depositors are FDIC insured up to $250,000 and the DIF insures the remainder of your deposits. This means that your deposits are 100% insured when you open an account and deposit money with BankProv.
Furthermore, BankProv is committed to protecting its customers from cyber-crime, identity theft, and fraud. If you believe that your personal details have been compromised or there is an unauthorized transaction on your account, BankProv has a dedicated support number you can contact.
A BankProv small business checking account could be the best option for you if you’re looking for a safe and secure place to hold your deposits and you’re likely to hold more than $250,000 in your account. With an easy online application and dedicated customer support, BankProv will help you find the best business banking solutions for your company.
If you struggle with managing your business finances, you can automate your processes by syncing your account with QuickBooks and their API. You will get a designated Relationship Manager that you can connect with both virtually and in person at a branch.