Does Ally Offer Business Checking?

It doesn’t, but alternatives to Ally business checking include several free high-yield online business accounts.

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Updated · 2 min read
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Want to open a business bank account with Ally? Unfortunately, you’re out of luck. Ally Bank does not offer business checking accounts and prohibits customers from using its personal accounts for business purposes.
The good news: There are a number of online business checking accounts that deliver on the type of low-fee, high-yield (and high-convenience) banking that Ally is known for.

Looking for a business checking account?

See our overall favorites, or choose your business type to find the best options for you.

on NerdWallet's secure site

Ally business checking alternatives

Bluevine Business Checking

Best for: Earning interest
Bluevine Business Checking’s main draw is its high interest rate: Earn 1.50% interest on account balances up to and including $250,000. Terms apply.
But this online business bank account sweetens the pot with no monthly fees, no minimum opening deposit, no incoming wire fees and no overdraft fees.
Pros & cons

Pros

No monthly fees or minimum opening deposit.

Unlimited fee-free transactions; no overdraft fees.

Earn interest on account balances up to and including $250,000. Terms apply.

No fees at MoneyPass ATMs; cash deposits via Green Dot network (fees and limits apply).

Cons

Cash deposits limited to $500 per deposit, $2,000 per day. Service fee of up to $4.95 per deposit.

Fee for using out-of-network ATMs.

No joint accounts or employee debit cards.

Bluevine Business Checking
Bluevine Bluevine Business Checking

5.0

NerdWallet rating
APY
1.50%

at Bluevine, Deposits are FDIC Insured

Grasshopper Business Checking

Best for: Overall cash back
Grasshopper Bank offers a free high-yield business checking account that pays you two ways: Earn up to 1.80% APY and get unlimited 1% cash back on qualified debit card purchases.
Grasshopper business customers also get free, built-in access to Autobooks, as well as business tools like invoicing and cash management. And startup founders can get help raising capital and navigating growth stages.
Pros & cons

Pros

Unlimited 1% cash back on qualified debit card purchases.

No monthly fees or overdraft charges.

Free, built-in bookkeeping software.

Cons

Can’t deposit cash.

Requires a minimum opening deposit.

Balance must be between $25,000 to $250,000 to earn best interest rate.

Grasshopper Innovator Business Checking Account
Grasshopper Bank Grasshopper Innovator Business Checking Account

4.8

NerdWallet rating
APY
1.80%

at Grasshopper Bank, Member FDIC

NBKC business checking

Best for: Cash-based businesses
NBKC’s free business checking account doesn’t earn interest, but it does check a lot of other boxes — including free ATM access to the MoneyPass and Allpoint networks, plus up to $12 in refunds each month for fees charged by other banks and ATM operators in the U.S.
NBKC also allows customers to deposit cash, free of charge, via compatible ATMs — a feature not offered by every online business account.
Pros & cons

Pros

No monthly fees or minimum opening deposit.

Unlimited fee-free transactions, no overdraft fees and free incoming domestic wires.

Up to $12 in monthly refunds for ATM fees charged by other banks worldwide.

Unlimited cash deposits via MoneyPass and Allpoint ATMs.

Accept contactless payments via the NBKC app (iOS only). Fees apply.

Cons

High fee ($45) for international wire transfers.

Phone support only available during business hours.

No third-party app integrations.

nbkc Business Account
nbkc bank nbkc Business Account

4.6

NerdWallet rating
APY

at nbkc bank, Member FDIC

Novo Business Checking

Best for: No fees
You won’t find many fees with Novo’s online business checking account, which has no monthly fees, ACH transfer fees, incoming wire fees or stop payment fees.
What the account does have: unlimited online invoicing, access to the Novo Reserves budgeting tool, unlimited ATM reimbursements (in the U.S. and abroad) and convenient integration with third-party business apps like Stripe, Shopify and QuickBooks.
Pros & cons

Pros

No monthly fees or minimum opening deposit.

Unlimited fee-free transactions.

Refunds on all ATM fees worldwide.

Integrates with top business tools, including QuickBooks, Xero, Stripe and Shopify.

Cons

Can’t deposit cash.

Can’t send domestic or international wires.

No recurring payments available with bill pay.

Novo Business Checking
Novo Novo Business Checking

4.2

NerdWallet rating
APY

at Novo, Deposits are FDIC Insured

NBKC Business Checking

Best for: ATM access
NBKC business checking is another online-based Ally business checking alternative that offers no monthly fees, unlimited fee-free transactions and widespread ATM access. The account also includes fee-free access to any MoneyPass ATM in the U.S., which includes the ability to deposit cash at eligible ATMs, and up to $12 in monthly refunds for ATM fees charged by other banks.
While you won’t earn interest with NBKC’s business checking account, the bank does offer a business money market account that, as of this writing, earns 2.75% APY.
nbkc Business Account
nbkc bank nbkc Business Account

4.6

NerdWallet rating
APY

at nbkc bank, Member FDIC

Pros & cons

Pros

No monthly fees or minimum opening deposit.

Unlimited fee-free transactions; no overdraft or incidental fees.

Up to $12 in monthly refunds for ATM fees charged by other banks worldwide.

Cash deposits via MoneyPass ATMs.

Cons

High fee ($45) for international wire transfers.

No weekend or after-hours customer support.

No third-party app integrations.

Can I use an Ally personal account for my business?

Ally's accountholder agreement states that you cannot use its personal accounts for a business. If the bank suspects that you are doing so, it reserves the right to close your account. So while sole proprietors, freelancers or independent contractors may technically be able to open an Ally personal account, we strongly advise against doing so.
Beyond avoiding a potential account closure, opening a business checking account is important for separating your personal and business finances — even for a side job. A dedicated account also lends financial credibility to your business, makes it easier for you to balance your books and better prepares you for filing taxes. In addition, having separate personal and business bank accounts helps protect your personal assets in the case of an audit or lawsuit.
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    New elevated offer
    American Express® Business Checking
    American Express National Bank American Express® Business Checking

    5.0

    NerdWallet rating
    Bonus Amount
    30,000 points

    at American Express National Bank, Member FDIC