6 Best Free Business Checking Accounts

No monthly maintenance fee but a minimum deposit of $1,000 needed to open account.

 

200 free transactions a month, 30 cents each after that.

 

60 mobile check deposits allowed a month.

 

Make deposits via mobile check deposit, by mailing a check to the bank’s headquarters in San Diego, or wiring money to your account from another institution. Be aware your institution may charge an outgoing wire fee, typically $15 to $30.

 

Online only; best for entrepreneurs who prefer to do all their banking electronically.

No monthly fee and no monthly balance requirement except for a $100 minimum opening deposit.

 

Process up to $5,000 in cash a month for free, and pay $0.003 per dollar after that ($3 per $1,000).

 

Make up to five withdrawals and/or process checks in person at a branch for free a month; $1 for every withdrawal or processed check in branch after that.

 

Up to two free in-branch deposits a month; $4 per in-branch deposit after that.

 

All other transactions not mentioned are unlimited and free.

 

Over 670 branches across Alabama, Arizona, California, Colorado, Florida, New Mexico and Texas, and over 43,000 surcharge-free ATMs nationwide.

No monthly fee and up to 150 free transactions a month, which include deposits, debit card purchases and online payments.

 

If you have more than 150 transactions a month, there’s a fee of 50 cents for each item over the cap. That means a freelance graphic designer probably won’t have to worry about reaching this limit. But a sandwich shop owner may have well over 200 transactions a month and owe fees.

 

Free cash deposits are limited to 25 units — calculate a unit by dividing the amount by 100, then round to a whole number. For example, a $175 cash deposit is two units: 1.75 rounded up to two.

 

After you reach the 25-unit limit, there’s a small charge for additional cash deposits. Fees vary by state.

 

Available online everywhere and in-person at 3,000 branches across 28 states.

No monthly service fee or minimum monthly balance.

 

Customers get unlimited electronic transactions, and their first 200 check transactions per statement period are free.

 

Free business debit card with option to receive additional cards for employees.

 

Solid customer service and strong Northeast presence.

Military-based membership: Customers can join Navy Federal Credit Union if they have served in a branch of the U.S. armed forces (either active duty or as a reservist), if they have worked for the Department of Defense or as a DOD contractor, or if they are immediate family of someone who meets the above criteria for membership.

 

No monthly service fee and no fee for unlimited electronic transactions.

 

First 30 non-electronic transactions are free and cost $0.25 each thereafter.

 

Extensive ATM network.

 

Offers an APY.

The Community Business Checking account is a free account type for nonprofits and startups with average balances less than $5,000 and low checking activity. Huntington Bank also offers a Fast Track Business Checking account, which is not a free account, but the $20 monthly fee is waived if a customer has $5,000 in checking balances or $30,000 combined in checking, savings, CD and money market balances.

 

Customers receive 150 monthly transactions for free, and then $0.60 per transaction thereafter.

 

No minimum balance required and no monthly maintenance fee.

 

An overdraft protection line of credit is available (a credit application and approval are required), or customers can receive deposit-to-deposit overdraft protection with no transfer fee.