BEST OF
10 Best Free Business Checking Accounts
The best free business checking accounts don’t have minimum-balance requirements or monthly service fees. Free business accounts usually don’t earn interest, and there may be charges for some actions, such as transactions over a bank's limit.
NerdWallet looked at the largest banks in the country, along with a few big online banks and notable regional banks, and compared their business checking accounts. Here are our top eight free accounts.
The best free business checking accounts don’t have minimum-balance requirements or monthly service fees. Free business accounts usually don’t earn interest, and there may be charges for some actions, such as transactions over a bank's limit.
NerdWallet looked at the largest banks in the country, along with a few big online banks and notable regional banks, and compared their business checking accounts. Here are our top eight free accounts.
Summary of Best Free Business Checking Accounts
| Bank/Institution | NerdWallet Rating | Monthly Fee | APY | Learn More |
|---|---|---|---|---|
Not yet rated | $0 | 1.00% With $0 minimum balance | at BlueVine, Deposits are FDIC Insured | |
Not yet rated | $0 | N/A | at nbkc bank, Member FDIC | |
Not yet rated | $0 | N/A | at Novo, Deposits are FDIC Insured | |
Not yet rated | $15.00 Waived with $2,000 minimum balance | N/A | at Chase, Member FDIC | |
$0 | N/A | at Axos Bank®, Member FDIC | ||
$0 | N/A | Read review | ||
$0 | N/A | Read review | ||
$0 | N/A | Read review | ||
$0 | 0.05% With $0 minimum balance | Read review | ||
$0 | N/A | Read review |
at BlueVine, Deposits are FDIC Insured
BlueVine Business Checking
Not yet rated
Monthly Fee
APY
With $0 minimum balance
Bonus
at BlueVine, Deposits are FDIC Insured
at nbkc bank, Member FDIC
nbkc Business Account
Not yet rated
Monthly Fee
APY
With $0 minimum balance
Bonus
at nbkc bank, Member FDIC
at Novo, Deposits are FDIC Insured
Novo Business Checking
Not yet rated
Monthly Fee
APY
With $0 minimum balance
Bonus
at Novo, Deposits are FDIC Insured
at Chase, Member FDIC
Chase Business Complete Banking℠
Not yet rated
Monthly Fee
Waived with $2,000 minimum balance
APY
Bonus
Requirements to qualify
at Chase, Member FDIC
at Axos Bank®, Member FDIC
Axos Bank® Basic Business Checking
Monthly Fee
APY
With $1,000 minimum balance
Bonus
at Axos Bank®, Member FDIC
BBVA USA Business Connect Checking
Monthly Fee
APY
With $0 minimum balance
Bonus
U.S. Bank Silver Business Package
Monthly Fee
APY
Bonus
Citizens Bank Clearly Better Business Checking®
Monthly Fee
APY
With $0 minimum balance
Bonus
Navy Federal Credit Union Business Checking
Monthly Fee
APY
With $0 minimum balance
Bonus
Huntington National Bank Business Checking 100
Monthly Fee
APY
With $0 minimum balance
Bonus
What factors should I look at when choosing a business checking account?
Depending on your business’ needs, you may want to consider the following features when selecting a business checking account:
Cash deposit limit. This is the amount of cash you’re allowed to deposit into your account for free each billing period.
Transaction limits. Banks often place limits on the number of transactions a business can make with their account, including electronic transactions and checks.
Fees. Look at monthly fees (if there are any) and see how much the bank will charge if you go over your cash deposit or transaction limits.
Interest. Some business checking accounts offer interest; make sure it isn’t canceled out by fees.
For more common questions about business checking accounts, check out NerdWallet’s Small-Business Checking Primer.
Last updated on June 29, 2020
Methodology
We took a close look at the 10 largest U.S. consumer banks based on assets, large and notable online banks and notable brick-and-mortar banks with free business accounts. Financial institutions surveyed: Ally Bank, Axos Bank, Bank of America, BlueVine, BBVA, BB&T, Capital One, Chase, Citibank, Citizens Bank, First Internet Bank, Huntington Bank, Navy Federal Credit Union, PNC, Radius Bank, Service Credit Union, SmallBusinessBank.com, SunTrust, TD Bank, TIAA Bank, U.S. Bank and Wells Fargo.
To recap our selections...
NerdWallet's Best Free Business Checking Accounts
- BlueVine Business Checking
- nbkc Business Account
- Novo Business Checking
- Chase Business Complete Banking℠
- Axos Bank® Basic Business Checking
- BBVA USA Business Connect Checking
- U.S. Bank Silver Business Package
- Citizens Bank Clearly Better Business Checking®
- Navy Federal Credit Union Business Checking
- Huntington National Bank Business Checking 100
Frequently asked questions
It’s highly recommended that you open a separate bank account for your business so that record keeping is easier, and so that your personal assets aren’t commingled with your business funds in the event of a lawsuit. Jump to our top picks among free business checking accounts.
Credit unions typically have low or no monthly fees and sometimes have high cash deposit limits for business accounts. If you qualify for membership, they’re worth considering. Compare some strong options in our roundup of NerdWallet’s Best Credit Unions.
You may want to look at your personal bank first, but compare multiple accounts to make sure you’ll be paying the fewest fees and getting the most benefit out of your business account.
