The new accounts have no maintenance fees and no minimum balance.
Wachovia Bank (NYSE:WB) has unveiled its new free business checking account designed for small businesses. The account features no monthly maintenance fee, no minimum balance and access to other free products like Bad Check Recovery.
In addition to Free Business Checking, Wachovia's portfolio of small business products includes Online Deposits, which allows companies to scan paper checks from their desktops and electronically send the images to Wachovia for deposit. The bank also offers a suite of treasury and cash management products for small businesses.
"This product completes the full offering of products and services we have for small businesses through our financial centers nationwide," Becky Mesanza, Wachovia's director of commercial checking products, said in a statement.