Live Oak Bank

Live Oak Bank, which operates as Live Oak Banking Company, is a US bank offering checking accounts for small businesses. The range has three tiers, each aimed at a different payment profile.

Account tiers Business Essential is the entry account. Business Plus is built for companies that need ACH and online wire transfers. Business Plus Analysis targets businesses that hold high daily balances and want statement aggregation, with an earnings credit applied against fees.

Fees According to the bank, Essential costs USD 10 per month, or nothing when the balance requirement of USD 1,000 is met. Plus costs USD 25, waived at USD 25,000. Analysis is priced at USD 100 with an earnings credit. These thresholds make the choice mostly a question of average balance rather than features.

Payments and deposit insurance The account range supports ACH and wire transfers, and statement aggregation is offered on the higher tier. The bank discloses FDIC membership; coverage depends on the depositor, ownership category and eligibility, and it is not the same as the safeguarding used by e-money institutions.

Who it suits The accounts suit US small businesses that want a conventional checking relationship and can choose a tier by balance level. Companies needing international payment channels beyond wire should check the bank's current offer.