If you’re running a business, having the right checking account is crucial. You need something that is simple to manage and has real advantages for your business. And the First Horizon business account offers clear choices.
Whether you’re just starting or growing fast, First Horizon offers flexible account options to match your needs. In this guide, we’ll break down everything you need to know from account types and features to debit cards and savings tools.
First Horizon Business Account Overview
First Horizon Bank is a regional bank that supports thousands of small businesses across 12 Southeastern states in the U.S. It operates over 400 local branches and offers access to nearly 600 fee-free ATMs, giving customers both in-person and self-service convenience.
The bank became even stronger in 2022 when it merged with IberiaBank, expanding its footprint and service network. This move allowed First Horizon to offer more competitive business banking solutions to a wider range of clients.
With a long-standing history and a focus on small and mid-sized businesses, First Horizon combines modern tools with personalized support. It offers business checking accounts that are simple, flexible, and built with small to mid-sized businesses in mind. Whether you’re running a one-person operation or leading a growing team, there’s an account designed to fit your needs.
These First Horizon Bank business accounts help you handle daily financial tasks like deposits, payments, and payroll. They also give you helpful tools such as online banking, mobile check deposits, and debit cards with added security. Here are a few reasons business owners choose First Horizon:
- Three account options to match your business stage, from startup to established enterprise
- Free access to digital banking tools, including mobile deposits and online bill pay
- Visa Business Debit Card with built-in protections
- Low or no monthly fees when balance requirements are met
- Overdraft protection when linked to other First Horizon accounts
- 24/7 customer service and support
With these benefits, First Horizon makes it easier to stay focused on your business while they help manage the financial side.
Now, let’s take a closer look at the different First Horizon business account options available.
First Horizon Business Checking Accounts
Whether you’re just starting your business or looking for more robust banking tools, First Horizon gives you three simple, easy-to-understand business checking account choices:
BizEssentials Checking
If you’re just starting your business or you prefer straightforward banking with no surprises, BizEssentials Checking is a great fit. It gives you all the essentials you need without monthly fees or complicated rules.
Key Features:
- No monthly maintenance fee
- 250 free transactions per month, including checks written, deposits made, and mobile check uploads
- Free cash and coin deposits up to $5,000 per month
- Optional overdraft protection when linked to other accounts like savings, credit cards, or loans
- Free Visa Business Debit Card for purchases and ATM access
- Digital Banking with mobile deposit and online bill payment
If you don’t need a lot of extras and just want a reliable account to pay vendors, deposit checks, and track expenses, this First Horizon business account option gives you everything you need with no monthly cost.
Additional Benefits:
- Set up ACH payments for employees or vendors
- Get easy-to-read monthly statements to help with taxes and budgeting
- Dedicated support if you need help or have questions
In short, BizEssentials Checking gives you peace of mind and the freedom to run your business with less hassle.
BizEssentials Plus Checking
As your business grows, so you might be dealing with more customers, more vendors, and more transactions every month. That’s where BizEssentials Plus comes in.
This First Horizon business account is designed to handle higher transaction volumes and offers expanded deposit limits, all while keeping things flexible.
Key Features:
- 500 free transactions per month, double the amount of the basic account
- Up to $10,000 in free coin and cash deposits monthly
- Visa Business Debit Card for quick purchases and secure transactions
- Mobile and online banking with free bill pay and mobile check deposit
- $15 monthly fee, which can be waived if you meet certain balance requirements
- How to Waive the Monthly Fee:
To avoid the $15 monthly fee, you can either:
- Maintain an average daily ledger balance of $10,000 or more, or
- Hold a combined balance of $25,000 or more across qualifying First Horizon accounts (including business savings, personal checking, loans, CDs, or lines of credit, all under the same tax ID)
This account helps you manage a larger business operation without outgrowing your bank.
BizEssentials Interest Checking
If you consistently keep money in your business account and want to earn a little extra on your balance, the BizEssentials Interest Checking account may be your best option.
It offers all the essential banking tools, plus the added bonus of interest earnings.
Key Features:
- Earn interest on your account balance
- 250 free monthly transactions
- $10,000 in free cash and coin deposits each month
- Visa Business Debit Card included
- Free access to mobile banking, online banking, and digital bill pay
- $15 monthly maintenance fee, waivable based on your balances
How to Waive the Monthly Fee:
Same as the Plus account, you’ll need either:
- A $10,000 daily balance, or
- A $25,000 combined balance across all eligible First Horizon accounts under the same tax ID
With BizEssentials Interest Checking, your money doesn’t just sit there, it works for you by earning interest.
Business Savings Options
Having a business checking account is a smart first step, but growing your business also means planning ahead. From basic savings accounts to high-interest CDs (Certificates of Deposit), there’s a solution that fits every type of business. These First Horizon business account options are FDIC-insured, so your money stays safe while it grows.
Let’s break down the most popular business savings choices at First Horizon:
BizEssentials Savings
This account is the perfect partner to your First Horizon business checking account. It’s easy to use, has no monthly fees, and helps you earn interest on your saved funds, making it a smart place to store money for future expenses.
Key Features:
- No monthly maintenance fees
- Earns competitive interest on your balance
- FDIC insured up to $250,000
- Access your funds 24/7 through online and mobile banking
With BizEssentials Savings, you get convenience, security, and interest earnings, all without the burden of fees.
Business Money Market Savings
Looking for a savings option that rewards you for saving more? The Business Money Market Savings account is designed for businesses that keep higher balances and want their money to work harder.
This First Horizon business account offers tiered interest rates, which means the more you save, the more you earn. It’s still fully accessible and can even help cover your business checking account if you’re ever short.
Key Features:
- Earn more as your balance increases with tiered interest rates.
- Link to business checking for overdraft protection
- Full digital access through online and mobile banking
- FDIC insured up to $250,000
If you’re growing and want to make the most out of every dollar, the Money Market Savings account gives you both safety and better earnings.
Business CDs
For businesses that want predictable earnings and don’t need immediate access to their funds, Certificates of Deposit (CDs) are a great option. First Horizon offers multiple types of CDs, so you can choose the one that best fits your business goals and timeline.
CDs earn fixed interest over a set period. That means you’ll know exactly how much your money will grow, helping you plan for the future with confidence.
Types of Business CDs Available:
| CD Type | Minimum Deposit | Term Length | Best For |
|---|---|---|---|
| Regular CD | Varies by market | 1 to 60 months | Short- or long-term planning with flexibility |
| Jumbo CD | $100,000 | 7 days to 1 year | Large deposits earning higher interest in the short term |
| CDARS Program | $100,000 | 4 weeks to 3 years | Protecting multi-million dollar deposits with full FDIC insurance |
Certificate of Deposit Account Registry Service (CDARS)
This special program is designed for businesses that need to deposit over $250,000, beyond the normal FDIC coverage limit.
How It Works:
- You make one large deposit with First Horizon
- The funds are divided into smaller CDs and spread across a network of banks
- All your deposits stay fully insured under the FDIC
- First Horizon handles all the details, you only work with them
If you’re managing large cash reserves and want maximum protection without splitting your deposits across multiple banks, CDARS gives you a convenient way to do just that.
Choosing the Right First Horizon Business Account
If you’re unsure which business savings or checking account fits your needs, here’s a quick overview to help you compare:
Business Checking Account Comparison:
| Feature | BizEssentials | BizEssentials Plus | BizEssentials Interest |
|---|---|---|---|
| Monthly Fee | $0 | $15 (waivable) | $15 (waivable) |
| Free Transactions | 250 | 500 | 250 |
| Free Monthly Cash Deposits | $5,000 | $10,000 | $10,000 |
| Earns Interest? | ❌ No | ❌ No | ✅ Yes |
| Best For | Startups or small teams | Growing companies with higher volume | Established businesses with strong balances |
Business Savings Account Comparison:
| Savings Option | Monthly Fee | Interest Type | Access | Best For |
|---|---|---|---|---|
| BizEssentials® Savings | $0 | Standard interest | 24/7 digital | All businesses |
| Business Money Market | $0 | Tiered interest (higher balance = higher rate) | 24/7 digital | Businesses with larger reserves |
| Regular CD | Varies | Fixed interest | Locked until maturity | Businesses with planned savings goals |
| Jumbo CD | $100,000 min | High fixed interest | Locked | Large deposits, short-term plans |
| CDARS® | $100,000 min | Fixed interest | Locked | Businesses needing FDIC insurance above $250K |
First Horizon Business Debit Card
Every First Horizon BizEssentials checking account comes with a Visa Business Debit Card, a tool designed to make business spending easier, safer, and more organized.
Whether you’re buying office supplies, paying bills online, or covering travel costs, this debit card gives you the flexibility you need without the hassle of writing checks or carrying cash.
Key Benefits of the Business Debit Card:
- Accepted anywhere Visa is taken, including in stores, online, and over the phone
- Easy access to business funds at ATMs nationwide
- No interest charges. Purchases are deducted directly from your business checking account
- Detailed monthly statements to help you track spending and separate business expenses from personal ones
Added Security & Travel Protections:
Your Visa Business Debit Card comes with built-in safety features to protect your business:
- Purchase Security & Extended Warranty on eligible items
- Auto Rental Insurance when using the card for car rentals
- Travel Emergency Services, helpful if something goes wrong during a business trip
- Call First Horizon business account customer service at 888-382-4968 for fast assistance with debit card issues.
Using the debit card is faster and more secure than writing checks. Plus, every purchase is recorded and documented, giving you a clear paper trail that’s incredibly useful for bookkeeping, budgeting, and filing business taxes.
Digital Banking Tools for First Horizon Business Account Users
Managing your business finances shouldn’t be complicated. With First Horizon’s free Small Business Digital Banking platform, you get all the tools you need to stay on top of your money anytime and anywhere.
All First Horizon business accounts come with access to this online banking system at no extra cost.
What You Can Do With the Digital First Horizon Business Banking:
- Deposit checks using your phone with Mobile Deposit
- Schedule and pay bills online to vendors, suppliers, or service providers
- View real-time balances and recent transactions
- Send ACH payments for payroll or vendor invoices
- Access your account 24/7 from many devices
This digital banking platform gives you full control of your business finances, even when you’re on the go. Whether you’re at your desk, traveling, or working from home, you’re always connected.
First Horizon Business Account Requirements
Opening a First Horizon small business account is straightforward, but you’ll need to prepare a few important things to get started.
Who Can Apply:
- You must be 18 years or older
- Must be a U.S. citizen or legal resident
- In most cases, you should live within about 50 miles of a First Horizon branch if you want to apply online
Documents You’ll Need:
To open your First Horizon business account, make sure you have:
- Employer Identification Number (EIN)
- Business license
- Articles of incorporation or formation
- Government-issued ID (for business owners)
Minimum Deposit: Most business accounts require a minimum opening deposit of $100. This first deposit usually must come from another bank account, not from another First Horizon account.
Additional Information:
- Opening the account may involve a soft credit check, which does not affect your credit score
- If you’re signing up for a First Horizon business bonus offer, you may only receive one bonus per business
- Your account must stay open and in good standing during the full promotion period to qualify for any rewards
How to Open a First Horizon Business Account
You can apply for a First Horizon Bank business account online from the comfort of your office or visit a local branch for in-person support:
- Make sure you meet First Horizon business account requirements and gather your business documents
- Choose the account type that best fits your business needs (BizEssentials, BizEssentials Plus, or Interest Checking)
- Submit your application either online or at a First Horizon location
- Fund your account with an initial deposit
- Activate your digital banking tools and receive your Visa Business Debit Card
Once your account is set up, you can start managing your money, making purchases, and building your business with confidence.
If you need further support, reach out First Horizon business customer service by:
- Calling the First Horizon Business Support Line: 800-615-1933
- Visiting the Business Learning Center on the First Horizon website for tutorials and answers
- Or stopping by a branch near you to speak with a banker in person
First Horizon Business Account Bonus
This bank sometimes offers cash bonuses to new business customers who open a First Horizon checking account and meet a few basic steps. These offers can help you get a head start when opening your account.
With First Horizon business account, you could earn up to $400 just by:
- Opening a new BizEssentials business checking account
- Depositing at least $5,000 within the first 15 days
- Keeping an average balance of $5,000 for three statement cycles
- Making at least 20 business transactions during that same period
If you also set up merchant services (for card payments) and use it within 30 days, you might receive an extra $250, bringing your total bonus to as much as $650.
However, there are what you need to know:
- These bonuses are usually for new business customers only
- The business must not have had a First Horizon business checking account in the past year
- The account must remain active and in good standing for the first few months
- Bonus amounts are reported as interest income for tax purposes
Keep in mind, these First Horizon business account promotions are not always available everywhere and can change, so it’s a good idea to check with First Horizon or visit a branch to confirm what’s currently offered.
First Horizon Business Account FAQs
Can I use Zelle with First Horizon business account?
- No, Zelle is currently available only for personal accounts at First Horizon. Business accounts are not supported at this time.
How long does it take to open a First Horizon Bank business account?
- If you apply online with all documents ready, it usually takes 15–30 minutes. In-branch applications may take longer, depending on your business type.
Does First Horizon charge overdraft fees on business accounts?
- Yes, but overdraft protection is available. You can link your checking to a deposit, loan, or credit account to help avoid fees.
Can I open a First Horizon business account online?
- Yes, if you’re within 50 miles of a branch and meet the online application requirements. Otherwise, you’ll need to visit a branch.
What type of businesses can open a BizEssentials account?
- Sole proprietors, partnerships, LLCs, and corporations are all eligible, as long as they have valid business documents and tax ID numbers.
First Horizon makes business banking simple, flexible, and rewarding. With free digital tools, generous transaction limits, interest-earning options, and helpful savings products, First Horizon offers a one-stop solution for your financial needs. If you’re ready to take control of your business banking, it may be time to open a First Horizon business account today.
