diff --git a/src/CONST.js b/src/CONST.js
index fb0bd7ba6a2be..d4c61e6bdaa68 100755
--- a/src/CONST.js
+++ b/src/CONST.js
@@ -106,6 +106,10 @@ const CONST = {
             SSN: 4,
             ZIP_CODE: 5,
         },
+        TYPE: {
+            BUSINESS: 'BUSINESS',
+            PERSONAL: 'PERSONAL',
+        },
     },
     INCORPORATION_TYPES: {
         LLC: 'LLC',
diff --git a/src/pages/settings/Payments/PaymentsPage/BasePaymentsPage.js b/src/pages/settings/Payments/PaymentsPage/BasePaymentsPage.js
index f9c36bd873fe6..ba807c56c9ef1 100644
--- a/src/pages/settings/Payments/PaymentsPage/BasePaymentsPage.js
+++ b/src/pages/settings/Payments/PaymentsPage/BasePaymentsPage.js
@@ -257,7 +257,10 @@ class BasePaymentsPage extends React.Component {
 
     render() {
         const isPayPalMeSelected = this.state.formattedSelectedPaymentMethod.type === CONST.PAYMENT_METHODS.PAYPAL;
-        const shouldShowMakeDefaultButton = !this.state.isSelectedPaymentMethodDefault && Permissions.canUseWallet(this.props.betas) && !isPayPalMeSelected;
+        const shouldShowMakeDefaultButton = !this.state.isSelectedPaymentMethodDefault
+            && Permissions.canUseWallet(this.props.betas)
+            && !isPayPalMeSelected
+            && !(this.state.formattedSelectedPaymentMethod.type === CONST.PAYMENT_METHODS.BANK_ACCOUNT && this.state.selectedPaymentMethod.type === CONST.BANK_ACCOUNT.TYPE.BUSINESS);
 
         // Determines whether or not the modal popup is mounted from the bottom of the screen instead of the side mount on Web or Desktop screens
         const isPopoverBottomMount = this.state.anchorPositionTop === 0 || this.props.isSmallScreenWidth;