Chartway Premium Business Checking
Credit-union business checking with tiered dividends up to 4.00% APY and a $10 fee waived at $2,500 ADB
Costs & Fees
Monthly maintenance: $10.00/month
Fee waiver: Waived if average daily balance of $2,500 maintained during the month. Product page also markets 'No Minimum Balance' for ongoing operation.
Transaction fees: Hybrid limited analysis — not classic earnings-credit. No published excess fees for ACH batches, teller visits, checks written, or electronic items.
Overdraft/NSF: Overdraft Privilege $30/transaction (can cover up to $750 per fee schedule; ODP brochure cited $500 — conflict). NSF/returned item $30. Returned deposited item $20. Opt-in required. OD transfer from linked savings/MM $0.
ATM fees: Chartway-owned / CO-OP Network $0 Chartway fee. Out of Chartway-owned and out of CO-OP: $1 inquiry + $1 transaction (owner surcharge extra; no rebate disclosed).
Wire/ACH: Outgoing domestic wire $25. Incoming domestic, incoming/outgoing international, ACH origination per-item/monthly fees not disclosed on business fee PDF.
Cash deposit: First $10k cash in+out per month no analysis fee; 0.05% on combined cash above $10k/month. Branch vs ATM vs shared-branch split not disclosed.
Interest & Yields
Checking APY: Tiered variable share dividends — progressive bands by balance (site Sep 2026)
Savings APY: Business Money Market Plus separate — relationship APYs 1.25% ($10k) to 4.00% ($1M+) plus 1.00% relationship bonus with business checking and ≥$10k ADB in MM
FDIC coverage:
Access, Features & Tools
Access
Branch/ATM: ~33–42 branches in VA/NC, Utah, Houston TX (2025 snapshot). CO-OP Network ~37k–50k surcharge-free ATMs plus Chartway-owned. Direct Teller ITMs expanding (~50 path cited).
Mobile app: Chartway Mobile Banking iOS 4.5/5 (5.7K ratings); Android 4.2/5 (~2.7–2.8K reviews). General app, not separate business treasury app.
Cash deposits: Branch; Chartway ATM (cash and check); CO-OP Shared Branch / CU Service Centers ($500–$1,000/visit, $10k/day max). No Green Dot/Allpoint/USPS network published.
Features
Invoicing/bill pay: Online bill pay in app. Autobooks Payment Solutions (invoices, card + ACH, recurring, late fees) — pricing not disclosed.
Virtual cards: Not disclosed
International: USD only. International wire fees not disclosed on business fee schedule.
Integrations
- ✓ Export to QuickBooks, Quicken, Microsoft Money, or CSV (switch kit)
Limits & Requirements
Opening deposit: $100 membership share
Minimum balance: No ongoing minimum advertised. Inactivity fee if daily balance <$200 and no activity 12 months.
Eligibility: Sole prop, GP/LP, LLC (SMLLC may use SSN), corporation (incl. incorporated nonprofit), unincorporated association/club. Beneficial ownership required.
Best for: Credit union Tiered checking APY up to 4% Fee waived at $2,500 ADB ACH origination CO-OP ATM and shared branch Regional VA/UT/TX Treasury management Loan discounts for Premium holders
Pros & Cons
Pros
- ✓ Official tiered checking APY up to 4.00% with no spend or direct-deposit gate (site Sep 2026)
- ✓ $10 monthly fee waived at relatively low $2,500 ADB
- ✓ NCUSIF insurance at federally chartered CU — not fintech/partner-bank stack
- ✓ Cash management (ACH origination + online wires) explicitly tied to Premium tier
- ✓ Loan origination and rate discounts for Premium holders; CO-OP ATM + shared-branch access
Cons
- ✗ 4% APY only at $500k+ — most SMBs earn 0.50–2.50% on lower bands
- ✗ Business fee PDF omits incoming, international, ACH origination, FX, and card replace prices
- ✗ Analysis fees on cash above $10k in+out and deposited checks above 250/month
- ✗ $250k NCUSIF only — no extended-insurance sweep for large balances
- ✗ Shared debit card number across authorized users; regional membership and branch footprint
Solid Pick (VA/UT/TX business with $2,500+ ADB and meaningful balance for tiered APY)
Chartway FCU Premium Business Checking is NCUSIF-insured share checking with $10/mo (waived at $2,500 ADB), $100 membership share, tiered APY to 4.00% at $500k+, and limited analysis on excess checks/cash. Outgoing domestic wires $25; many wire/ACH prices undisclosed. Treasury Management requires this tier. No ICS sweep above $250k NCUSIF. Strong for regional CU relationship and high-balance yield; weak for national digital-first SMBs and thin multi-user controls.