The small business account for your DBA or Trust
First Rate Checking for Business is a free small business checking account designed for sole proprietors, DBAs, and trusts using a SSN (or businesses without an EIN). It offers no monthly fees, no transaction limits, and includes a business debit card, cash back rewards, and access to nearly 30,000 ATMs nationwide.
Find a BranchBenefits of First Rate Checking for Business
$0 Monthly Maintenance Fees
First Rate Checking for Business has no monthly maintenance fees and no monthly transaction limits.
Convenience after hours
Night depository is available at select Webster First branch locations, enrollment required.
Safety and Security
Your free business debit card comes with complimentary fraud monitoring through our Card Alert Notification Program.
Earn Rewards
Earn cash back42 on qualified purchases with our free rewards program.
Nearly 30,000 ATMs
There is no fee to withdraw funds from Webster First ATMs or ATMs belonging to the CO-OP Network.
Online & Mobile Banking
Check balances, deposit checks, make loan payments, and more. Available in the App Store, Google Play, and Amazon App Store.
Which business checking account is right for you?
Compare First Rate Checking for Business with our Elite Business Checking account
| First Rate Checking for Business | Elite Business Checking | |
|---|---|---|
| Useful for | For DBA's and Trusts using their SSN | For Partnerships, Trusts using an EIN, Organizations, Sole Proprietors, Corporations (both for profit and not-for-profit), and LLCs. Growing businesses with higher balances. |
| Rate | 4.00% APY2 on the first $1,000 | Tiered |
| Minimum opening deposit | $5.00 | $5.00 |
| Monthly maintenance fees | $0.00 | $0.00 |
| Business Debit Card | Yes | Yes |
| Online Banking | Personal online banking | Business online banking with enhanced features |
| 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 |
Convenient access to your business accounts, anytime
Online banking and our mobile app make taking care of business easy.
Learn More
Earn rewards and rebates
A great account can be rewarding in more ways than one.
Earn cash back42 on qualified purchases with our free program:
- Shop offers right from online banking or our app.
- Shop based on the offer terms using your Webster First Mastercard® debit card or connected mobile wallet.
- Earn your cash reward! Rewards are deposited right into your account.
Plus, you can earn rebates with the Mastercard Easy Savings® program30.
FAQs
What are the requirements to open First Rate Checking for Business?
- Business must be a DBA or Trust using a SSN
- One of the following must apply:
- Business owner is a current Webster First member
- Business owner lives, works, worships, or attends school in Essex, Middlesex, Suffolk, or Worcester County of Massachusetts
- Business is located in Essex, Middlesex, Suffolk, or Worcester County of Massachusetts
- $5 minimum balance
What documents will I need?
- Driver’s License
- Social Security number
- DBAs must also provide:
- Business certificate from the town the business is located in
Apply for your business checking account today
Visit your local branch to open a First Rate Checking for Business account. $5 minimum opening balance.
Resources
Award-winning service
2026: Newsweek Best Regional Banks and Credit Unions
2025 Winner The Official Community's Choice Awards: Best Credit Union, Best Financial Planning Services
Rated 5 Stars by Bauer
Better Business Bureau: 2025 Large Business Award Winner