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Free business checking accounts are available nationally, by state and by region. This guide will help you find a bank or credit union that offers business checking accounts with no monthly service fee.
Keep in mind that even though these institutions offer free business checking, you could still be charged for overdrafts, excess transactions or excess deposits.
» Want to see the best overall accounts? Check out NerdWallet’s Best Free Business Checking Accounts
If you're not sure what to look out for:
Big-name banks that offer free business checking accounts
A few larger bank chains that offer free business checking have branches in many states.
BBVA: Business Connect Checking.
Bank of the Ozarks: Small Business Checking.
Cathay Bank: Business Checking.
Chase Bank: Chase Business Complete Checking (Chase charges a $15 monthly fee but offers ways to waive it, including maintaining a minimum daily balance of $2,000).
Citizens Bank: Clearly Better Business Checking.
First Citizens Bank: Basic Business Checking.
First National: Business Free Checking.
Huntington National Bank: Business Checking 100.
U.S. Bank: Silver Business Checking Package.
Online banks that offer free business checking accounts
Most small companies and entrepreneurs can open business checking accounts online instead of in person.
Axos Bank: Basic Business Checking ($1,000 minimum to open).
BlueVine: Business checking (1% APY on balances up to $100,000).
Navy Federal Credit Union: Business Checking (Navy Federal also has branches across the country; see website for eligibility.).
NBKC Bank: Business Account ($0 minimum to open).
Compare business checking accounts
» Check out our picks for the best free business checking accounts
» Looking for a personal account, too? Check out our best free personal checking accounts
Free business checking accounts by state
If none of the above options are available in your state, you would rather bank in person or you prefer a smaller bank, check out the options below.
Honorable mentions for free business checking accounts
These banks will waive their monthly fees if you meet additional requirements:
BancorpSouth: e-Business Checking (Alabama, Arkansas, Florida, Louisiana, Mississippi, Missouri, Tennessee and Texas). Required to waive fee: $500 minimum daily balance or five debit card purchases per statement period.
Fifth Third Bank: Fifth Third Business Standard Checking Account (Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, Ohio, Tennessee and West Virginia). Required to waive fee (any of the following): A combined monthly average balance of $3,500 across business checking, savings and CDs; at least $500 monthly spending across Fifth Third business credit cards; or personal Fifth Third Private Bank Checking account or Fifth Third Preferred Checking® account with a completed Relationship Consent form.
Wells Fargo: Business Choice Checking. Required to waive fee (any of the following): $7,500 average balance; $10,000 in combined balances (business checking, savings, CDs and credit); 10 or more posted business debit card purchases/payments; a linked Direct Pay service; or qualifying transactions from a linked Wells Fargo Merchant Services account.
First Horizon Bank: Basic BizEssentials Business Checking (Florida, North Carolina, South Carolina and Virginia). Required to waive fee: $5,000 daily balance.
You may also want to consider other banking relationships. For example, if you have a small-business credit card from your bank, you may already be eligible for a small-business checking account with waived fees.
Here’s how to choose the right business checking account
Consider fees and interest. Look for bank accounts that charge low or no fees. Some business checking accounts also offer an interest rate, although they tend to be low.
Look at transaction and cash deposit limits. Evaluate how many monthly transactions your business makes and how much cash your business deposits. Many business checking accounts place limits on transaction and cash deposits, so you’ll want to select an account that meets your needs.
Check out your current personal bank, but look at others, too. You’ll want to make sure your business checking account is separate from your personal checking account so that bookkeeping is easier and so you’re getting the right account services for you. Your personal bank might be a good place to start when looking for a new business account since you have an established relationship, but don’t let that limit you from checking out other banks and credit unions.
» Ready to consider other business accounts? Find a business credit card that’s right for you
Did we leave your financial institution off this list? Please let us know.