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Best business checking accounts of 2024

The best business bank accounts let you track your business expenses and manage your accounting.

The best business checking accounts offer no monthly fees and free transactions while giving tools to help you keep track of expenses, accounting and tax needs. Over the last few years, digital banks have risen to take the crown when it comes to high interest rates, few fees and additional business features. But if you’re primarily a cash-run business, brick-and-mortar banks still have their place. Peruse through the best business bank accounts to find the right one that gives you a clear view of your business’ cash flow.

Why trust Finder

  • 300+ banks and credit unions reviewed
  • 50+ business checking accounts analyzed and rated by our team of experts
  • Evaluated under our unbiased rating system covering 13 categories
  • 20+ years of combined experience covering financial topics

We're big on editorial independence. That means our content, reviews and ratings are fair, accurate and trustworthy. We don't let advertisers or partners sway our opinions. Our financial experts put in the hard work, spending hours researching and analyzing hundreds of products based on data-driven methodologies to find the best accounts and providers for you. Explore our editorial guidelines to see how we work.

11 best business checking accounts

Best overall

Bluevine Business Checking

You can earn $300 when you open a new Bluevine Business Checking account and meet eligibility requirements. Apply with referral code CA300.
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APYUp to 4.00%
FeeFrom $0 per month
Minimum deposit to open$0

Best for free business checking

NBKC Business Checking

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APYN/A
Fee$0 per month
Minimum deposit to open$0

Best for free domestic wire transfers

Mercury

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APYN/A
Fee$0 per month
Minimum deposit to open$0

Best for accountants and bookkeepers

Novo Business

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APYN/A
Fee$0 per month
Minimum deposit to open$0
Novo is a fintech company; not a bank. Deposit account services provided by Middlesex Federal Savings, F.A., Member FDIC. Physical debit cards issued by Middlesex Federal Savings or Patriot Bank, N.A., Member FDIC; virtual cards issued by Patriot Bank, pursuant to licenses from Mastercard® International Incorporated. Mastercard can be used everywhere Mastercard is accepted. Mastercard is a registered trademark of Mastercard International Incorporated.

Best for team access

Relay

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APYUp to 3.00%
Fee$0 per month
Minimum deposit to open$0
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.

Best for freelancers

Found

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APY1.50%
FeeFrom $0 per month
Minimum deposit to open$0
Found is a financial technology company, not a bank. Banking services are provided by Piermont Bank, Member FDIC. The Found Mastercard®️ debit card is issued by Piermont Bank pursuant to a license from Mastercard Inc. Found’s core features are free. Found also offers a paid product, Found Plus.

Best for rewards

PROMOTED
Grasshopper Innovator Business Checking

Earn unlimited 1% cash back on online and signature-based purchases with your free physical Visa debit card or instant-issue virtual cards.
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APYUp to 1.80%
Fee$0 per month
Minimum deposit to open$100

Best for signup bonus

Chase Business Complete Banking®

Earn $300 when you open a new Chase Business Complete Checking® account. For new Chase business checking customers with qualifying activities.
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Fee$15 per month
Minimum deposit to open$0

Best for Square sellers

Square

When you use your Square Card at any other Square seller, you get 2.75% off your purchase.
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Fee$0 per month
Minimum deposit to open$0

Best for cash deposits

Axos Bank Basic Business Checking

Open a business checking account by January 31 and get up to $400 when you use promo code NEW400 on your application and maintain a minimum average daily balance of $50,000.
APYN/A
Fee$0 per month
Minimum deposit to open$0

Best for global businesses

Revolut Business

Read review
APYN/A
FeeFrom $0 per month
Minimum deposit to open$0
The Revolut USA Prepaid Mastercard is issued by Metropolitan Commercial Bank pursuant to a license from Mastercard International and may be used everywhere Mastercard is accepted. Banking services are provided by Metropolitan Commercial Bank, Member FDIC, and are subject to the terms of a Cardholder Agreement. “Metropolitan Commercial Bank” and “Metropolitan” are registered trademarks of Metropolitan Commercial Bank© 2014. Revolut Technologies Inc. is a technology services provider and administrator of the card program.

Methodology: How we choose the best accounts

Finder’s banking experts research and analyze over 41 business checking accounts to find the best ones that offer perks and features helpful to businesses, such as software integrations, tax tools, interest, transaction limits and ATM access. We weigh these features against the account’s fees and opening deposit requirements.

We also consider the following factors when choosing the best list:

  • Up to $15 monthly fees as long as there’s an easy way to avoid the fee such as
    • Balance requirements of no more than $2,000
  • Up to $100 minimum opening deposits
  • For interest-bearing business checking accounts, the APY must occur on high balances and at least $2,500 a month in deposit requirements

How to choose a business checking account for your needs

Keep these factors in mind when shopping around for a business checking account:

  • Monthly fee. Most business checking accounts have monthly maintenance fees that are only waived if you meet certain deposit or transaction requirements each month.
  • Opening deposit. Some small business checking accounts require significant initial deposits, while others don’t require any deposit at all.
  • Interest. While rare, some business accounts offer interest on your funds. This is a great incentive for your funds, though checking APYs still can’t match up to what you’ll earn with a savings account.
  • Account integrations. If you have employees, choose an account that works seamlessly with your payroll system. And if you plan to make itemized deductions on your taxes, your account’s system for reporting transactions can have a big impact on how easy that is.
  • Transaction limits. Some accounts let you make an unlimited amount of deposits, withdrawals and transfers. While others limit how many business transactions you can do in a month and charge you a fee if you go over. Look for an account that supports the number of transactions you typically make.
  • Employee access. Banks typically limit the total number of employee cards or employee access they’ll grant per account. But if you only need a business account for yourself, consider a dedicated self-employed checking account.
  • Cash deposits. Most online banks don’t allow for cash deposits. If this is a concern to your business, you’ll want to look at accounts offered by brick-and-mortar banks.
  • Signup bonus. Though rare, some business checking accounts come with signup bonuses. But make sure the account itself is solid as well, as you’ll be stuck with it after the signup bonus is completed.

Do I need a business checking account?

Any business owner, whether large, small, or independently owned, should have a business checking account. With a dedicated business account, you’ll benefit from these perks:

  • Send ACH transfers and wire transfers
  • Process debit card payments
  • Business transactions
  • Access payroll or accounting software integrations

Can I use my personal checking account for my business?

Yes, but you shouldn’t. It’s best to separate your personal expenses from your business expenses for tax purposes. This protects you from personal liability for costs and debts if your business closes.

3 most common business checking account fees

There are a few fees that are common across most business checking accounts. The most common include:

FeeWhat it isHow to avoid it
Monthly maintenance feeCharged by the bank each month for maintaining your account.Look for a business account with no monthly fees or fees that are easily avoidable when you meet certain deposit or transaction requirements.
Cash handlingYou have a set amount of cash you can deposit for free each month. Go over this limit, and your bank may charge you a fee of around 30 cents for every $100 you deposit.Calculate how much cash you bring in each month and find an account that matches this limit.
Excess transactionThere’s a limit to how many paid checks, ATM deposits and electronic transfers you can make each month. Go over this limit, and you’ll pay a fee of around 40 cents for each additional transaction.Choose an account that matches the number of transactions you typically make. Or, look for an account with unlimited transactions.

Are there free business checking accounts?

Yes. Most of the business checking accounts on our best list are free to open and use, with some such as NBKC offering even fewer fees than average, like on foreign transaction and overdraft fees. Most free business checking accounts come from online banks.

What you need to open a business checking account

Depending on the type of business you operate, different financial institutions may require different documents when opening your checking account. However, most will require the following:

  • Name and address of business
  • Business tax ID number
  • Date business was established
  • Country and state of legal formation
  • Country and state of business operation
  • Personal information, such as SSN or date of birth for everyone on the application

How to open open a business checking account with bad credit

Unless you’re opening a line of credit or loan, you shouldn’t have issues opening up a business checking account. This is because banks ultimately check your ChexSystems report to look at past banking history and determine if you’re eligible to open a checking account. Banks use this report to make sure you don’t have a negative banking history that reflects habits like involuntary account closures, past overdrafts and bounced checks. Your credit is taken into account, but it matters more for other types of accounts and riskier businesses such as sole proprietors.

What to do if you’re denied

If you’re denied a business checking account, you can look at second-chance business accounts that have less strict criteria for opening a business bank account. Bear in mind they usually come with fees and may not offer features like overdraft protection.

Where should I open my business checking account?

There are three options to choose from: Online banks, brick-and-mortar banks or credit unions. Here’s how they compare:

Type of bankWho it’s best forMajor features
Digital bankBusinesses that prefer higher APYs, fewer fees and prefer managing their account online
  • Highest potential APY among banks
  • Few fees
  • Integration tools
  • Payment app/processor support
Brick-and-mortar bankBusinesses that prefer in-person customer support, depositing cash regularly, or prefer an established major bank
  • Easy cash deposits
  • Physical locations
Credit unionBusinesses that want lower fees and better interest rates than brick-and-mortar banks, but don’t want a digital bank
  • Lower interest rates and fewer fees than brick-an- mortar banks
  • Good customer service
  • Physical locations

4 additional accounts to support your business needs

Business banks accounts can help you manage your company’s finances, but there are other options. Aside from a bank account, your business may also benefit from:

  1. Business savings accounts. Opening a savings account for your business helps you build up cash reserves so you have money for unexpected expenses, a rainy day or a cash infusion when you’re ready to expand your offerings.
  2. Business credit cards. Opening a strong business credit card that’s linked to an account that is intended primarily for business expenses can be valuable instrument in managing your cash flow. If used strategically, these cards can be good tools to earn interest by putting your money in a savings or cash management account during the interest-free period of your credit card. It’s also good to note that these cards can earn points.
  3. Business loans. If your business plans to expand in the future, you may be able to get a better deal by using a bank you already have a business account with. Keep in mind that many financial institutions won’t lend to business owners who don’t have a dedicated business account. If you don’t plan to use the same bank, check out these top business loans.
  4. Cash management accounts. Similar to checking accounts, some cash management accounts (CMAs), such as Brex Cash, have higher APYs with fewer fees. The downside is that CMAs are less convenient than business bank accounts, and they’re not always FDIC insured.
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To make sure you get accurate and helpful information, this guide has been edited by Alexa Serrano Cruz as part of our fact-checking process.
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Written by

Writer

Cassidy Horton is a freelance personal finance copywriter and past contributing writer for Finder. Her writing and banking expertise have been featured in Forbes Advisor, Money, The Balance, Money Under 30, Insure.com, and other top digital publishers. She holds a BS in public relations and an MBA from Georgia Southern University. See full bio

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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

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4 Responses

    Default Gravatar
    cycollum@gmail.comAugust 12, 2019

    Do you offer business lines of credit for non profits?

      AvatarFinder
      fayemanuelAugust 13, 2019Finder

      Hi,

      Thanks for contacting Finder.

      As we are a comparison website, we do not offer any loans. However, you can use our comparison page to see and compare your options on loans for nonprofit organizations to help you find a lender that might work for you.

      Before applying, please ensure that you meet all the eligibility criteria and read through the Product Disclosure Statements/Terms and Conditions before making a decision on whether it is right for you.

      I hope this helps.

      Kind Regards,
      Faye

    Default Gravatar
    KellyApril 8, 2018

    for a credit card application suggested by finder, is it applicable to all citizens? like me who are in indonesia?

      Default Gravatar
      joelmarceloApril 8, 2018

      Hi Kelly,

      Thanks for leaving a question on finder.

      As of now, we only cater to customers in the US, UK, Australia, New Zealand and Canada. You can check out your local credit card companies in Indonesia to apply. I’m sorry I wasn’t of help.

      Cheers,
      Joel

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