Bank of America Business Advantage vs Truist Simple Business Checking: which one fits your business?
Side-by-side comparison of Bank of America Business Advantage and Truist Simple Business Checking — fees, features, ease, support, and which one fits your business. Scored on the same rubric.
Short answer: Bank of America Business Advantage wins on our scorecard (7.3/10 vs 7/10).
| Scored on | Bank of America Business Advantage | Truist Simple Business Checking |
|---|---|---|
| Right fit for small biz | 8 | 8 |
| Ease of use | 7 | 7 |
| Fees & pricing | 7 | 8 |
| Customer support | 6 | 6 |
| Features | 8 | 6 |
| Monthly fee (Fundamentals) | $16 (waivable) | — |
| Monthly fee (Relationship) | $29.95 (waivable) | — |
| ACH Transfers | $0 | — |
| Cash Deposit Limit | Up to $20,000 free | $2,000/mo free |
| Domestic Wire (Incoming) | $0 - $15 | — |
| Monthly Maintenance Fee | — | $0 |
| Transaction Limit | — | 50 per month |
| Excess Transaction Fee | — | $0.50 per item |
| Overdraft Fee | — | $36 |
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.
Truist Simple Business Checking in one paragraph
A solid, no-frills entry point for low-volume local businesses that value physical branch access over high-tech features.
Skip it if: Skip it if you process more than 50 transactions a month or need your idle cash to earn a competitive interest rate.
Frequently asked questions
Which is better, Bank of America Business Advantage or Truist Simple Business Checking?
On our five-axis scorecard, Bank of America Business Advantage scores higher (7.3/10 vs 7/10). A powerhouse for businesses with $20k+ in cash who can leverage the credit card rewards stack, but a fee-heavy burden for micro-entities.
Who should skip Bank of America Business Advantage?
You cannot consistently maintain at least a $5,000 average daily balance.
Who should skip Truist Simple Business Checking?
Skip it if you process more than 50 transactions a month or need your idle cash to earn a competitive interest rate.