South State Bank Business Account Review

Panna Kemenes

If you’re based in the South East of the US, a South State business checking account could be worth looking at.

South State offers low-cost accounts for small businesses and non-profits, with waivable monthly maintenance charges. You can also enjoy access to a range of credit, as well as tailor-made employee benefit packages.

Here’s a comprehensive review of South State Bank business checking accounts. This article will help decide if it's the best choice for your business.


South State Bank Business Account Review: Quick Overview

Before we jump in, here’s an overview of the main features of South State business checking accounts.

South State Bank
🗝️ Key features
  • Three account options: Small Business Checking, Business Gold Checking and Community Checking
  • Designed for small businesses and non-profits
  • Monthly maintenance charges can be waived
  • Access to employee benefits such as retirement plans and Health Savings Accounts (HSA)
  • Access to lines of credit, real estate credit, SBA loans and more
💰 Main fees
  • Monthly maintenance charge $15 USD (Business Gold Checking—can be waived)
  • Minimum opening deposit of $50 USD
  • Out-of-network ATM fee of $3 USD
  • Wire fees: incoming $15 USD, outgoing domestic $35 USD, outgoing international $50 USD
  • Deposit fee of $1 USD per $1,000 USD deposited
✔️ Great for
  • Low-cost business checking accounts, access to credit and employee benefit packages

South State Bank Business Account: Key Features

South State Bank offer 3 types of business bank accounts:

  • Small Business Checking
  • Business Gold Checking
  • Community Checking

The Small Business Checking account is ideal for businesses wanting a free checking account.

There are no monthly maintenance charges and no minimum balance requirements. You’ll only need $50 USD as a minimum deposit to open the account.²

The first 150 debits, credits or deposit items per statement cycle are free of charge. Thereafter, it’ll cost you $0.35 USD per item. This makes it well-suited to businesses with a limited number of transactions.

If your business and transaction volume is growing, you may be better suited to the Business Gold Checking account.

With this account, your first 350 debits, credits or deposit items per statement cycle are free of charge.³ Any extra items will cost you $0.40 USD per item. This is more than double what you get with the Small Business Checking account.

As with the Small Business Checking account, there’s a minimum deposit amount of $50 USD to open an account. However, there’s also a monthly maintenance charge of $15 USD. But, if you meet the requirements, you can waive this fee, making the account free to hold.

You can waive the monthly maintenance charge by:

  • Maintaining a $2,500 USD average daily balance in checking; or
  • Maintaining a $10,000 USD minimum daily balance in other combined deposits; or
  • Maintaining a $10,000 USD minimum daily balance in outstanding combined loan balances; or
  • Having 15 posted and cleared SouthState debit card purchases/payments

For growing businesses with moderate to high transaction volumes, it should be possible to qualify for a fee waiver.

The last account option available is the Community Checking account. This account is designed for small non-profits.

You’ll have the first 30 debit items per statement cycle at no cost.⁴ After that, you’ll be charged $0.35 USD per item. However, you can have the per item fee waived as long as you maintain a minimum daily balance of $500 USD.

The account also earns a rate of interest on your balance.

As with the other two account options, a minimum opening deposit of $50 USD applies. Apart from this, there are no monthly maintenance charges to worry about.

Ease of Use

All three accounts offer a business debit card and compatibility with QuickBooks.

For the Small Business Checking and Business Gold Checking, you’ll have access to business credit cards and lines of credit. You’ll also be able to connect Apple Pay, Google Pay and Samsung Pay, and access online banking through BillPay.

South State Bank also offers you the ability to set up your employee benefits package. You can set up retirement plans for your employees through South State Bank, including:

  • 401(k) for Private Employers
  • 403(b) for Non-Profit Entities
  • 457 Plans for Government Entities
  • Defined Benefit Plans including Cash Balance⁵

You can also open a Health Savings Account (HSA) for your employees with South State Bank.⁶ This High-Deductible Health Plan (HDHP) can lower your business premiums, giving you a tax advantage. Your employees can easily access their account using their HSA debit card.

You can connect your employees to the SouthState at Work program. This is a suite of banking services that includes features such as:

  • Discounted loans
  • Financial wellness education and consultations
  • Savings programs
  • A SouthState at Work Checking Account⁷

This range of services make South State Bank flexible and adaptable to your business’s needs.

Customer Service

South State Bank can be contacted either through online banking or via phone. They have different customer hotlines for different services, including:

  • Customer Care Line
  • Phone Banking Line
  • BillPay Support Line
  • Debit Card Activation Line
  • After Hours Card Support Line⁸

Unfortunately, online reviews of South State Bank are limited. Most reviews are for their personal accounts, with few reviews of their business products.¹

South State Bank Business Account Fees

As already mentioned, South State Bank business accounts are relatively fee free.

The Small Business Checking account has the following fees:

  • $0.35 USD per item after the first 150 debits, credits or deposit items per statement cycle
  • $50 minimum opening deposit

The Business Gold Checking account has these fees:

  • $0.40 USD per item after the first 350 debits, credits or deposit items per statement cycle
  • $50 minimum opening deposit
  • $15 monthly maintenance charge (can be waived)

Lastly, the Community Checking account charges:

  • $0.35 USD per item after the first 30 debit items per statement cycle (can be waived)
  • $50 minimum opening deposit

This makes it a great option for businesses looking for a free business checking account.

That said, South State does charge out-of-network ATM fees and wire transfer service charges.⁹

Incoming wires cost $15 USD, while outgoing domestic wires cost $35 USD and outgoing international wires cost $50 USD.

To use an out-of-network ATM, you’ll be charged $3 USD per transaction.

Keep in mind that it also costs $1 USD per $1,000 USD you deposit, which could add up over the long-run.

South State Bank Business Account Pros and Cons

Here’s an overview of the key features and considerations of South State Bank.

Key featuresConsiderations
  • Free business checking accounts with different account types
  • Business Gold Checking account monthly maintenance fee can be waived by meeting the requirements
  • Retirement accounts and Health Savings Accounts (HSA) available for your employees
  • Access to lines of credit
  • Mobile banking available
  • Certain number of deposits, debits and credit are free of charge per statement cycle, depending on your account type
  • If you don’t meet the requirements, you’ll be charged a monthly maintenance fee for Business Gold Checking accounts
  • Out-of-network ATM fees
  • $1 fee per $1,000 deposited

What are the benefits of South State Bank Business Account?

If you want a business checking account that’s free to hold, South State could be your best bet.

If you make less than 150 transactions per statement cycle, the Small Business Checking account would be the perfect fit.

If you’re growing your business and make less than 350 transactions per statement cycle, the Business Gold Checking account would be a better match.

Being able to design and provide an employee benefit package through South State is another advantage of the bank. This keeps things simple, as you’re working with the same bank the entire time.

If you want access to a range of credit options, South State is a solid choice. You can access real estate loans, SBA loans and much more.

What are the key considerations of South State Bank Business Account?

South State Bank has 240 branches across Alabama, Florida, Georgia, North Carolina, South Carolina and Virginia.¹⁰ If you’re located outside these states or if you travel frequently through the US, this could be a problem.

If you find yourself needing to make an out-of-network ATM withdrawal, you’ll be charged $3 USD per transaction. This limits where you can withdraw your money.

If many of your transactions are wire transfers, using South State can cost you a significant amount. With outgoing international wires costing $50, it may not be the best bank account for international business.


South State Bank Business Account Alternatives

If you want a bank account with a high fee-free deposit limit, you could be better off going for a Bank of America Business Advantage Fundamentals Banking account. With this account, you can deposit up to $7,500 free of fees.¹¹

If nationwide access is a top priority for you, a Chase Business Complete Checking account may be a better option.¹²

If your business deals frequently with wire transfers, consider a Mercury business checking account. With Mercury, it’s free to send and receive wire transfers.¹³

Discover Wise Business: Low-Cost International Transactions

If you’re a South State customer looking to do international business, it’s going to cost you a significant amount. Outgoing international wire transfers cost up to $50 and foreign currency exchange costs $20 per transaction.⁹

But international business doesn’t need to be expensive. That’s where a Wise Business account can help save you money.

Wise is not a bank, but a Money Services Business (MSB) provider and a smart alternative to banks. The account has no monthly maintenance fees and setup fees. You also won’t need to worry about minimum balance requirements.

With Wise Business, you can make international transfers at the mid-market rate. You can send transfers to 160+ countries. You can also request local account details for a one-off fee—enabling you to receive international payments like a local.

If you have overseas employees, contractors or suppliers to pay, simply use the Wise batch payment tool to pay up to 1,000 employees in one-click.

Wise’s Business account allows you to hold 40+ currencies in one place, making international business easy.

Register with Wise Business 🚀

Conclusion: Is South State Bank Business Account the Best Choice for Your Business?

If you want a business checking account that’s free to hold with a minimum number of free transactions per statement cycle, South State is a solid option. Likewise, if you want access to credit and employee benefit packages, South State has you covered.

However, if you deal with high transaction volumes, frequent wire transfers or international transfers, you may find more suitable alternatives.

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.


  1. SouthState Bank Reviews
  2. Small Business Checking Account
  3. ​​Business Gold Checking Account for Small Businesses
  4. Community Checking for Small Organizations
  6. Health Savings Accounts for Small Business Employees | SouthState Bank
  7. SouthState at Work for Small Businesses
  8. Contact SouthState Customer Care
  9. Business Account Fee Schedule
  10. Our Locations | SouthState Bank
  11. Business Advantage FundamentalsTM Banking - Bank of America® Clarity Statement® — Overview of key policies and fees
  12. Business Advantage FundamentalsTM Banking - Bank of America® Clarity Statement® — Overview of key policies and fees
  13. Explore Pricing | Mercury

All sources checked April 2024.

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.

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