Whether you have a limited liability company (LLC) or just small business, it’s important to have a business checking account separate from your personal account to protect your personal assets. A business bank account helps streamline your business’s operations for bookkeeping, tax purposes and day-to-day expenses.
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7 best business bank accounts for small businesses
The best bank accounts for small businesses have minimal fees, no required opening deposits and feature business software integrations. A few are also interest-bearing, which could yield extra funds throughout the year.
Bluevine Business Checking took the win for best overall due to its variety of features and free plan option. The Standard plan has no monthly service fees, and offers a high 1.5% APY on your funds up to $250,000 by meeting activity requirements. There are also two other paid plans called Plus and Premier, costing either $30 or $95 per month (can be waived). None of the plans charge overdraft, foreign transaction fees or require an opening deposit. You'll also get high insurance coverage — up to $3 million through Coastal Community Bank and a network of program banks. It supports many software integrations, such as Quickbooks, Cash App, Square, Wave and Venmo. The Plus plan offers a 3% APY, and Premier offers a 4.25% APY with no activity requirements, and discounts on wire and same-day ACH transfers. Both However, its most notable downside is the 2.9% credit card transaction fee for bill payments.
APY
Up to 4.25%
Fee
From $0 per month
Minimum deposit to open
$0
Bluevine Business Checking took the win for best overall due to its variety of features and free plan option. The Standard plan has no monthly service fees, and offers a high 1.5% APY on your funds up to $250,000 by meeting activity requirements. There are also two other paid plans called Plus and Premier, costing either $30 or $95 per month (can be waived). None of the plans charge overdraft, foreign transaction fees or require an opening deposit. You'll also get high insurance coverage — up to $3 million through Coastal Community Bank and a network of program banks. It supports many software integrations, such as Quickbooks, Cash App, Square, Wave and Venmo. The Plus plan offers a 3% APY, and Premier offers a 4.25% APY with no activity requirements, and discounts on wire and same-day ACH transfers. Both However, its most notable downside is the 2.9% credit card transaction fee for bill payments.
Pros
Earn 1.5% to 4.25% APY depending on plan and activity
Few fees
Create up to 5 subaccounts for categorizing
8+ software integrations for a smooth workflow
Unlimited transactions
Cons
2.9% credit card transaction fee to pay bills
Cash deposit fees
Annual Percentage Yield (APY)
4.25% on balances of $0 to $3,000,000 3.00% on balances of $0 to $250,000 1.50% on balances of $0 to $250,000
Intro or bonus offer
You can earn $300 when you open a new Bluevine Business Checking account and meet eligibility requirements. Apply with referral code CA300.
North One Standard comes with no monthly fees or opening deposit requirements, like others on this list. But what makes it stand out are the cashback rewards — the North One Mastercard Small Business Debit Card offers rebates at places like gas stations, hotels and restaurants. The rate varies from 1% to 4%, depending on the purchase. Additionally, North One has a long list of software integrations available, unlimited transactions, envelope budgeting features, debit cards for co-owners, bookkeeping and accounting tools. It also accepts cash deposits at Green Dot locations for a small fee. But as an online banking option, you'll get no in-person support, and it doesn't support international wires.
APY
N/A
Fee
From $0 per month
Minimum deposit to open
$50
North One Standard comes with no monthly fees or opening deposit requirements, like others on this list. But what makes it stand out are the cashback rewards — the North One Mastercard Small Business Debit Card offers rebates at places like gas stations, hotels and restaurants. The rate varies from 1% to 4%, depending on the purchase. Additionally, North One has a long list of software integrations available, unlimited transactions, envelope budgeting features, debit cards for co-owners, bookkeeping and accounting tools. It also accepts cash deposits at Green Dot locations for a small fee. But as an online banking option, you'll get no in-person support, and it doesn't support international wires.
If you're part of a multiple-member LLC, Relay is worth considering. It allows you to open up to 20 checking accounts to separate cash for easy organization and issue up to 50 physical or virtual cards to other members. You can also place spending limits on the cards and automate transfers between the separate checking accounts, identify who did what, and offer separate logins for each member. You have the option to integrate your account with software such as Gusto, Plaid, QuickBooks, Xero and Yodlee. Relay also offers a savings account with 1.00% to 3.00% APY, but you'll need a balance of $1 million or more to earn the 3.00%. Relay Pro, its paid membership, costs $30 per month and offers other perks, such as 50 free direct deposits per month.
APY
Up to 3.00%
Fee
$0 per month
Minimum deposit to open
$0
If you're part of a multiple-member LLC, Relay is worth considering. It allows you to open up to 20 checking accounts to separate cash for easy organization and issue up to 50 physical or virtual cards to other members. You can also place spending limits on the cards and automate transfers between the separate checking accounts, identify who did what, and offer separate logins for each member. You have the option to integrate your account with software such as Gusto, Plaid, QuickBooks, Xero and Yodlee. Relay also offers a savings account with 1.00% to 3.00% APY, but you'll need a balance of $1 million or more to earn the 3.00%. Relay Pro, its paid membership, costs $30 per month and offers other perks, such as 50 free direct deposits per month.
Pros
Create up to 20 checking accounts and issue up to 50 debit cards
No monthly fee for basic plan
No overdraft, bounced check or ATM fees
Set spending limits on distributed team ATM cards
Cons
Tiered rates for savings
No physical checks
Annual Percentage Yield (APY)
Up to 3.00% on balances of $1,000,000+ 2.00% on balances of $250,000 to $999,999 1.50% on balances of $50,000 to $249,999
Relay is a financial technology company, not an FDIC-insured bank. Banking services and FDIC insurance are provided through Thread Bank and Evolve Bank & Trust; Members FDIC.The Relay Visa® Debit Card is issued by Thread Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa® debit cards are accepted.
Mercury doesn't charge you for incoming or outgoing domestic or international wire transfers in USD, making a good option for e-commerce business with international suppliers. While many other providers allow free incoming wire transfers, most charge a fee for outgoing transfers, especially for international ones. Mercury is also a great option for a free checking account for startups and small businesses, requiring no opening deposit, no monthly fees and no overdraft fees. However, like many online banks, Mercury doesn't accept cash deposits.
APY
N/A
Fee
$0 per month
Minimum deposit to open
$0
Mercury doesn't charge you for incoming or outgoing domestic or international wire transfers in USD, making a good option for e-commerce business with international suppliers. While many other providers allow free incoming wire transfers, most charge a fee for outgoing transfers, especially for international ones. Mercury is also a great option for a free checking account for startups and small businesses, requiring no opening deposit, no monthly fees and no overdraft fees. However, like many online banks, Mercury doesn't accept cash deposits.
Pros
No USD wire transfer fees
No monthly maintenance or overdraft fees
No USD wire transfer fees
Software integrations, including Quickbooks
Cons
$20 million + balance required to earn a low 0.001% APY
NBKC's business checking account takes the win for best free option. There's no deposit required, and there are no fees for overdrafts, non-sufficient funds or stop payments. NBKC allows for cash deposits at MoneyPass ATMs with no charge as well. And NBKC is highly rated on review platforms — a rarity for many long-term banks. But if you frequently do international wire transfers, know that NBKC charges a hefty $45 fee.
APY
N/A
Fee
$0 per month
Minimum deposit to open
$0
NBKC's business checking account takes the win for best free option. There's no deposit required, and there are no fees for overdrafts, non-sufficient funds or stop payments. NBKC allows for cash deposits at MoneyPass ATMs with no charge as well. And NBKC is highly rated on review platforms — a rarity for many long-term banks. But if you frequently do international wire transfers, know that NBKC charges a hefty $45 fee.
Pros
$0 monthly fee
$0 account deposit to open
Minimal fees
Free to receive US wire transfers
Cons
Branches only in Kansas City area
$45 for incoming and outgoing international wire transfers
Lili is well-suited for small business owners and freelancers. While other accounts also offer early access to payments, Lili stands out because it's simple. Other accounts require third-party app integration or a lengthy setup for early payments. With Lili Basic, you'll also pay no monthly fees, have no opening deposit and no overdraft fees. You can also set up automatic savings for emergencies, enjoy a large fee-free ATM network, and receive domestic wire transfers. The paid plans, which start at $9 per month, offer more perks, like business expense reports, pre-filling your annual 1040 Schedule C form, automatic savings for taxes and cashback rewards. Also, Lili accepts cash deposits at Green Dot locations — a perk missing with most digital banks.
APY
3.65%
Fee
From $0 per month
Minimum deposit to open
$0
Lili is well-suited for small business owners and freelancers. While other accounts also offer early access to payments, Lili stands out because it's simple. Other accounts require third-party app integration or a lengthy setup for early payments. With Lili Basic, you'll also pay no monthly fees, have no opening deposit and no overdraft fees. You can also set up automatic savings for emergencies, enjoy a large fee-free ATM network, and receive domestic wire transfers. The paid plans, which start at $9 per month, offer more perks, like business expense reports, pre-filling your annual 1040 Schedule C form, automatic savings for taxes and cashback rewards. Also, Lili accepts cash deposits at Green Dot locations — a perk missing with most digital banks.
Pros
Early access to payments
No opening deposit required
No monthly fees for Lili Basic
Automated savings
Accepts cash deposits with Green Dot
Cons
Best features require a paid plan
Limited customer support
Annual Percentage Yield (APY)
3.65%
Intro or bonus offer
30 day free trial for Lili Pro, Lili Smart, and Lili Premium
Baselane is a property management account great for small businesses, as it accepts LLCs, individuals, partnerships and corporations — and it's free. Designed for landlords and real estate investors, it offers rent collection, accounting and reporting tools. Renters get their own payment platform where they can pay rent for free via ACH transfer to the Baselane account. You can create unlimited virtual accounts and cards for each property, or have an account just for deposits. Earn interest on your balance, up to 4.19% APY for balances over $50,000, or at least 1.95% APY for balances under $10,000. Earn unlimited 1% cashback rewards on all purchases, and up to 5% back on eligible home improvement hardware purchases. It also offers high insurance of up to $3 million with its partner Thread Bank and network of program banks. Software integrations include Airbnb, Cash App, PayPal, Quickbooks and Venmo. On the downside, Baselane doesn't have a mobile app.
APY
Up to 4.19%
Fee
$0 per month
Minimum deposit to open
$0
Baselane is a property management account great for small businesses, as it accepts LLCs, individuals, partnerships and corporations — and it's free. Designed for landlords and real estate investors, it offers rent collection, accounting and reporting tools. Renters get their own payment platform where they can pay rent for free via ACH transfer to the Baselane account. You can create unlimited virtual accounts and cards for each property, or have an account just for deposits. Earn interest on your balance, up to 4.19% APY for balances over $50,000, or at least 1.95% APY for balances under $10,000. Earn unlimited 1% cashback rewards on all purchases, and up to 5% back on eligible home improvement hardware purchases. It also offers high insurance of up to $3 million with its partner Thread Bank and network of program banks. Software integrations include Airbnb, Cash App, PayPal, Quickbooks and Venmo. On the downside, Baselane doesn't have a mobile app.
Pros
No monthly fees
Create unlimited subaccounts
Rent collection, account and reporting tools
High FDIC insurance
Earn cashback and interest
Multiple software integrations
Cons
Best APY requires a high balance
No mobile app
Annual Percentage Yield (APY)
4.19% on balances of $50,000+ 3.40% on balances of $25,000 to $49,999 2.93% on balances of $10,000 to $24,999
Finder’s banking experts research and compare 40 business bank accounts before narrowing down the best accounts for small businesses. The features that hold the most weight are the existence of software integrations such as Quickbooks or services that assist with tax filings, the number of free ATMs available in the provider’s network, and monthly fees. We also regularly update and revise our list to reflect the best options available in the current market.
We weigh these six factors when choosing the best accounts:
Has at least one software integration or comes with tax features
Free ATM access or offer ATM reimbursements
$0 in monthly maintenance fees
Opening deposits less than $100
Available in most states
No membership requirements
How to pick a top business account
There are a few things that every business owner should consider:
Fees. Compare monthly maintenance fees, overdraft fees and opening deposit requirements. Beyond these, look at fees attached to wire transfers and ATM withdrawals.
Interest. While not common, there are some interest-bearing business checking accounts. Though, they might come with a minimum balance requirement to start earning interest.
Rewards. If you plan on using your business debit card frequently, consider an account with a cashback rewards program for possible earnings.
Cash deposits. If you’re a cash-based business, you may want to consider a bank with physical branches to make cash deposits easier. For online-based businesses, cash deposits are usually not possible or come with a fee.
Software integrations. For taxes, expense reports, bank statements and more, having a bank with software integrations, such as Quickbooks or Xero, can make bookkeeping easier.
Narrow down top business bank accounts by fees, software integrations, APYs and more to find the best for your budget and financial goals. Select Compare for up to four products to see their benefits side by side.
How to open a business account for your small business
It doesn’t take long to open a business bank account — especially if you’re going with an online bank. Most small businesses will need to provide the following documents when opening an account:
Government-issued ID or valid driver’s license
Employer Identification Number (EIN), SSN or Taxpayer Identification Number
Business license
LLC operating agreement
Articles of organization and amendments
Can I use my own bank account for my small business?
While you can use your personal bank account to run your small business, it’s generally not recommended since it can affect liability and make business bookkeeping a pain. Having a dedicated business bank account for your business helps protect your personal assets and any other owner’s assets.
A business account for your small business can help you keep track of expenses, tax deductions or credits, and keep your income separate from your personal assets. This separation ensures clear financial organization and minimizes any potential challenges with the IRS in the future.
Also, a business bank account can make applying for business loans for an LLC easier. Business loan providers almost always require business bank statements for evaluation. Keeping personal and business accounts separate avoids complications and makes it easier to provide the necessary financial documentation, increasing your chances of securing business loans.
Bethany Hickey is the banking editor and personal finance expert at Finder, specializing in banking, lending, insurance, and crypto.
Bethany’s expertise in personal finance has garnered recognition from esteemed media outlets, such as Nasdaq, MSN, Yahoo Finance, GOBankingRates, SuperMoney, AOL and Newsweek. Her articles offer practical financial strategies to Americans, empowering them to make decisions that meet their financial goals. Her past work includes articles on generational spending and saving habits, lending, budgeting and managing debt.
Before joining Finder, she was a content manager where she wrote hundreds of articles and news pieces on auto financing and credit repair for CarsDirect, Auto Credit Express and The Car Connection, among others.
Bethany holds a BA in English from the University of Michigan-Flint, and was poetry editor for the university’s Qua Literary and Fine Arts Magazine. See full bio
Bethany's expertise
Bethany has written 434 Finder guides across topics including:
This small business checking account comes with features like early access to payments, automatic savings for taxes and emergencies and pre-filled tax forms.
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