NBKC Business Checking Review: Pros, Cons & Key Features

As a business owner, finding the right banking partner is essential. One option to consider is the Business Checking account from the National Bank of Kansas City (NBKC).

This NBKC Business Checking review will explore the key features, fees, pros, and cons of the account, helping you to decide whether it's a suitable choice for your business.

If you’re conducting business internationally and concerned about currency exchange rates and transaction fees, then you can also read about the Wise Business account for transparent conversion rates and low fees.

NBKC Business Checking Review: Quick Overview

NBKC Business Checking: Key Features

NBKC is a Kansas-based online bank founded in 1999 to provide business and personal banking products and services. NBKC has four physical branches located in Kansas and Missouri.

Customers can open a business checking account through the bank’s website. NBKC business checking requirements include providing the business owner’s personal details, government-issued identification and business registration documents.²

The account charges no fees for monthly account maintenance, overdrafts or insufficient fees, Bill Pay services, electronic statements, check deposits, or domestic wire transfers. The account also has no minimum balance requirements.³

The bank provides business account holders with a free business debit Mastercard and free access to online and mobile banking services, including online Bill Pay and mobile check deposits. Account users can also deposit checks at one of its branches. Customers can use more than 40,000 MoneyPass ATMs across the US and Puerto Rico without incurring fees, and also receive a refund of up to $12 on fees charged by out-of-network ATMs.⁴

Alongside the business checking account, NBKC also offers a business money market account, certificates of deposit (CDs), business credit cards and loans.

NBKC’s mobile app allows business account holders to manage the account, check balances, transfer funds, pay bills and check messages anywhere.

NBKC business checking account holders can add extra services for additional monthly fees, including desktop check deposit and access to tools such as direct deposit, payroll, and vendor payments. For a $10 monthly charge, businesses can also use Autobooks to issue invoices via email that clients can pay online for direct deposit into the Business Checking account.⁵

Autobooks also allows business customers to accept in-person contactless payments from customers using Tap to Pay on iPhone directly within the mobile app.

Ease of Use

NBKC offers an intuitive online platform and mobile app with user-friendly Interfaces, which make it easy for customers to manage their accounts online and on the go.

There are no monthly maintenance fees for the account, which is an advantage for small businesses looking to save on banking costs. And unlike some banks, NBKC does not have a minimum balance requirement, ensuring flexibility for businesses of all sizes.

Customer Service

NBKC offers phone support lines for general account inquiries as well as online and mobile banking, which are available Monday through Friday from 8am to 7pm Central Time (CT). Businesses can also receive email support.

Positive NBKC Business Checking reviews on Trustpilot (an independent review site) state that the bank has great customer service with representatives providing a personal touch and taking time to ensure that issues are resolved.⁶

Some negative reviews from Trustpilot mention that the bank has a complicated wire transfer policy, and may sometimes close accounts because of what they deem suspicious transactions. However, it should be noted that this can be due to required security measures. Some reviewers also mentioned that they found the process of opening an account and receiving the debit card quite long, taking up to one month, which can disrupt business operations.⁷

NBKC Business Checking Fees

The NBKC Bank Business Checking account does not charge fees for most day-to-day transactions and account maintenance, and incoming domestic wire transfers are free. However, it does charge the following fees:⁸

• ACH credits and debits: $15/month or $150/year
• Desktop check deposit: $15/month or $150/year
• Business fraud prevention tools: $5/month or $50/year
• Outgoing domestic wire transfers: $5
• Incoming and outgoing international wire transfers: $45

NBKC Business Checking Pros and Cons

What are the Benefits of NBKC’s Business Checking Account?

The NBKC Business Checking account is an option for businesses that want an online checking account with few service and transaction fees and no minimum balance requirements. Incoming domestic wire transfers are free, and the bank helps businesses save on ATM fees by reimbursing out-of-network charges up to $12 per month. Its website and mobile app offer user-friendly interfaces, making it easy for users to manage their finances.

In addition, businesses that take payments from customers in-person can use the mobile banking app to accept contactless payments without requiring a separate point-of-service terminal.

Business account holders praise NBKC’s friendly and effective customer service team, which provides personalized assistance to resolve issues.

What are the Drawbacks of NBKC’s Business Checking Account?

An important consideration for business owners is that NBKC places an extended hold time on all deposits into new accounts as it verifies all incoming funds. This can affect cash flow management, so account users should consider moving money into the account in stages rather than all at once, to avoid funds being locked up or the account blocked.

While the account has few transaction fees, it does charge separate monthly fees for features such as ACH credits and debits and the Autobooks invoicing software. Many of its online competitors either include these features for free or integrate directly with third-party tools that provide them.

The business checking account does not pay interest, although the bank does offer a business money market account paying interest of 2.5% APY at the time of writing.⁹

The NBKC Bank Business Checking account is less suitable for businesses that regularly send and receive international wire transfers, as each transaction incurs a $45 charge. Additionally, business customers need to call NBKC’s customer support team to send an international wire, which is less convenient than initiating the transfer online.

Conclusion: Is NBKC Business Checking the Best Choice for Your Business?

The NBKC Business Checking account offers several compelling features, including few transaction or incidental fees, no monthly fees and no minimum balance requirements. The account is one of the few online checking accounts for businesses to offer unlimited free cash deposits.

The account can be a good option for small businesses that operate within the US. However, the account charges for incoming and outgoing international wire transfers are high, giving companies that do business internationally a reason for pause. Ultimately, whether the account is the best option for your business depends on your specific needs and requirements.

Discover Wise Business: The Low-Cost Way to Make International Transfers

If you're looking for a business banking alternative with no monthly fees, seamless international payments at mid-market rates, and a range of other features, consider Wise Business.

Wise is not a bank, but a Money Services Business (MSB) provider and a smart alternative to banks. Wise offers a stress-free international business account that saves you money on currency conversion rates, making it a worthy competitor to traditional banks like NBKC.

Learn more about Wise Business

✔️ Make international payments at the mid-market rate
✔️ Manage multiple currencies all in one place
✔️ Make easy batch payments

With a Wise account, you can make international payments at the mid-market exchange rate. You can also set up local account details in nine currencies, so that overseas customers can pay you from wherever they are at the same speed as a domestic transaction.

A Wise Business account has no hidden fees or monthly subscription charges. You can open an account online and get set up with ease.

Sources checked November 2023.

About the author:
	Panna is an expert in business finance topics for the US, covering topics from invoicing to international expansion. She creates high-quality reviews on business finance tools and products with the aim to help businesses save time and make informed decisions. You can read more useful business articles on her author profile.