Our best business checking account, with no hidden fees
Elite Business Checking is a free business checking account for LLCs, corporations, and partnerships. It offers no monthly maintenance fees, unlimited transactions, and tiered dividends, so businesses can earn interest on their checking balances – because a growing business deserves a checking account that’s designed to grow right along with it.
Get StartedBenefits
Unlike many business checking accounts, Elite Business Checking:
- Pays dividends on your balance. Earn higher dividends as your balance grows, with top-tier rates at $100,000+
- Has no transaction limits
- Charges no monthly maintenance fees
- Saves you 20% off your first order of business checks, up to $5029
Features
- Online and Mobile Business Banking
- Business debit card with complimentary fraud monitoring
- Nearly 30,000 surcharge-free ATMs nationwide through our CO-OP Network partners
- Free notary service at any Webster First branch
- Night depository at select locations
Current rates
| Type | Dividend Rate | APY2 | Min Balance7 |
|---|---|---|---|
| Elite Business | .05% | .05% | $100,000.01 + |
| .02% | .02% | $50,000.01 - $100,000 | |
| .02% | .02% | $25,000.01 - $50,000 | |
| .01% | .01% | $10,000.01 - $25,000 | |
| .01% | .01% | $1,000.01 - $10,000 | |
| .01% | .01% | $0.00 to $1,000 |
Convenience and security wherever you need it
Online & mobile banking, designed for business
Our business online banking and mobile app are designed specifically for the needs of businesses. Built from the ground up with commercial use in mind, you’ll find managing your money easier than ever.
- Grant additional users tiered access to keep budgets running smoothly
- Monitor cash flow and transfer funds
- Deposit checks
Business Debit Mastercard®
The Webster First business debit Mastercard offers the security of complimentary fraud monitoring, so you can rest assured we’re always watching out.
- No annual fee or point of sale fees
- Earn cash back42 on qualifying purchases
- Earn rebates with the Mastercard Easy Savings® program30
- No fees to withdraw funds from Webster First or CO-OP Network ATMs
Is Elite Business Checking right for you?
Compare Webster First's Elite Business Checking with First Rate Checking for Business
| Elite Business Checking | First Rate Checking for Business | |
|---|---|---|
| Useful for | For Partnerships, Trusts using an EIN, Organizations, Sole Proprietors, Corporations (both for profit and not-for-profit), and LLCs. Growing businesses with higher balances. | For DBA's and Trusts using their SSN |
| Rate | Tiered | 4.00% APY2 on the first $1,000 |
| Minimum opening deposit | $5.00 | $5.00 |
| Monthly maintenance fees | $0.00 | $0.00 |
| Business Debit Card | Yes | Yes |
| Online Banking | Business online banking with enhanced features | Personal online banking |
| Remote deposit | Yes | Yes |
| Monthly deposit limits | None | None |
| Overdraft protection | Yes | Yes |
| ATM access | Nearly 30,000 surcharge-free nationwide | Nearly 30,000 surcharge-free nationwide |
FAQs
What are the requirements to open Elite Business Checking?
- Business must have an Employer Identification Number (EIN)
- Business must meet Webster First membership qualifications
- Persons who live, work, worship, or attend school in, and businesses and other legal entities located in Worcester, Essex, Middlesex, or Suffolk Counties, Massachusetts; and also included are spouses of persons who died while within the field of membership of this credit union, employees of the credit union, volunteers in the community, members of their immediate family or household, and organizations of such persons.
- Business must be registered with the appropriate state and/or municipality
- $5 minimum balance
What documents will I need to open
- Driver’s License
- Social Security number
- At least one of the following:
- Article of Incorporation
- Article of Organization
- Partnership Agreement
- Limited Partnership Document
- At least of one the following:
- SS4 Tax ID form
- Most recent federal tax return
- Certification of Beneficial Ownership – What’s this?
- Additional documentation may be required
Open your Elite Business Checking account
Serving central and eastern Massachusetts. Open our free business checking account best for your small business, LLC, corporation, or partnership.
Sole proprietor or DBA? Try First Rate Checking for Business instead.
Resources for Business Owners
Award-winning service
2026: Newsweek Best Regional Banks and Credit Unions
2025 Winner: Best of Central Mass
Rated 5 Stars by Bauer
Better Business Bureau: 2025 Large Business Award Winner