Bank of America Business Advantage vs EverBank Business Checking: which one fits your business?
Side-by-side comparison of Bank of America Business Advantage and EverBank Business Checking — fees, features, ease, support, and which one fits your business. Scored on the same rubric.
Short answer: EverBank Business Checking wins on our scorecard (7.5/10 vs 7.3/10).
| Scored on | Bank of America Business Advantage | EverBank Business Checking |
|---|---|---|
| Right fit for small biz | 8 | 8 |
| Ease of use | 7 | 7 |
| Fees & pricing | 7 | 9 |
| Customer support | 6 | 6 |
| Features | 8 | 7 |
| Monthly fee (Fundamentals) | $16 (waivable) | — |
| Monthly fee (Relationship) | $29.95 (waivable) | — |
| ACH Transfers | $0 | — |
| Cash Deposit Limit | Up to $20,000 free | — |
| Domestic Wire (Incoming) | $0 - $15 | — |
| Monthly maintenance fee | — | $0 |
| Minimum opening deposit | — | $1,500 |
| Free monthly transactions | — | 200 |
| Incoming domestic wires | — | $0 |
Bank of America Business Advantage in one paragraph
A powerhouse for businesses with $20k+ in cash who can leverage the credit card rewards stack, but a fee-heavy burden for micro-entities.
Skip it if: You cannot consistently maintain at least a $5,000 average daily balance.
EverBank Business Checking in one paragraph
A powerhouse for business owners who want a high-yield, zero-fee account from a 'real' bank rather than a fintech startup.
Skip it if: You handle large amounts of physical cash or need 24/7 phone support.
Frequently asked questions
Which is better, Bank of America Business Advantage or EverBank Business Checking?
On our five-axis scorecard, EverBank Business Checking scores higher (7.5/10 vs 7.3/10). A powerhouse for business owners who want a high-yield, zero-fee account from a 'real' bank rather than a fintech startup.
Who should skip Bank of America Business Advantage?
You cannot consistently maintain at least a $5,000 average daily balance.
Who should skip EverBank Business Checking?
You handle large amounts of physical cash or need 24/7 phone support.