NerdWallet combed through hundreds of business checking accounts at over 50 financial institutions to bring you this list of the cream of the crop. Here are NerdWallet’s picks for the best business checking accounts across four categories.
Best Free Business Checking
Affinity Federal Credit Union’s Free Enhanced Business Checking account allows businesses unlimited free monthly transactions, unlimited cash deposits and a low overdraft fee of $25. The account has no monthly fee and earns interest.
Central National Bank’s Business Value Checking offers 100 free monthly debits and unlimited monthly credits, as well as a low overdraft fee of $28. The account has no monthly fee.
Farm Bureau Bank’s Business Checking gives customers 100 free monthly debits and unlimited monthly credits, unlimited cash deposits and a fairly low overdraft fee of $30, all for no monthly fee.
Best Non-profit Checking
PNC’s Non-profit Checking allows non-profits to make 500 monthly transactions for free, which is far more than other non-profit accounts. Non-profits can deposit up to $5,000 in cash each month for no fee. The account has no monthly fee and earns interest.
Best Business Support Resources
Maps Credit Union and its affiliates and subsidiaries offer extensive resources for small businesses, including investment services such as life insurance and 401k’s, background check services, supplemental health insurance, payroll services and mobile phones. The credit union even has a partnership with a small business development center.
Highest Interest Rate
BofI Federal Bank’s Business Interest Checking account has a whopping 1.01% APY. With an interest rate that beats most savings accounts and CDs, this is a clear winner for those who are looking for a high-yield business checking.
To sort through your options and find the best checking account for your business, use our business checking account tool and check out our list of free business checking accounts by region. If you are totally new to business checking, refer to our infographic on how business checking fees work.
Use our tool to find the best business checking account for your company.