The best banks for small business give entrepreneurs a one-stop-shop for all their business banking needs, with a free or low-fee business checking account, as well as options for savings, credit cards, business loans or merchant services.
You may want to leverage small-business banking services from multiple institutions to keep your funds secure — especially if your deposits exceed the federally insured limit of $250,000. Keeping payroll and an emergency fund at separate business banks from your main business account can also help shield your business from disruptions.
NerdWallet evaluated more than 30 national, regional and online banks to identify the best banks for business accounts. Below you will find details on each of our selections for the best small-business banks.
Note: While we detail the range of business services offered by those banks, the star ratings listed are specific to the bank's business checking account. If a bank offered multiple business checking accounts, we rated the entry-level account.
Our Nerdy picks for
Best Banks for Small Business
| Bank/institution | NerdWallet rating▼ | Monthly fee▼ | APY▼ | Min. opening deposit▼ | Learn more |
|---|---|---|---|---|---|
Axos Bank® Basic Business Checking Learn more at Axos Bank®, Member FDIC | 5.0/5 Best for 24/7 customer support | $0 | N/A | $0 | Learn more at Axos Bank®, Member FDIC |
Grasshopper Business Checking Account Learn more at Grasshopper Bank, Member FDIC | 5.0/5 Best for High-yield business checking | $0 | 2.25% With $0 min. balance for APY | $100 | Learn more at Grasshopper Bank, Member FDIC |
Chase Business Complete Banking℠ Learn more at Chase, Member FDIC | 5.0/5 Best for Full-service business banking | $15.00 Waived with $2,000 minimum balance | N/A | $0 | Learn more at Chase, Member FDIC |
nbkc Business Account Learn more at nbkc bank, Member FDIC | 5.0/5 Best for No-fee business banking | $0 | N/A | $0 | Learn more at nbkc bank, Member FDIC |
Bank of America Business Advantage Fundamentals™ Banking Learn more at Bank of America, N.A., Member FDIC | 5.0/5 Best for Generous account limits, easy application | $16.00 Waived with $5,000 minimum balance | N/A | $100 | Learn more at Bank of America, N.A., Member FDIC |
LendingClub Tailored Checking Learn more at LendingClub Bank, Member FDIC | 5.0/5 Best for 1% cash back on debit card purchases | $10.00 Waived with $500 minimum balance | 1.50% With $0 min. balance for APY | $100 | Learn more at LendingClub Bank, Member FDIC |
U.S. Bank Silver Business Checking Learn more at U.S. Bank, Member FDIC | 4.0/5 Best for Welcome bonus, free business checking (brick-and-mortar bank) | $0 | N/A | $100 | Learn more at U.S. Bank, Member FDIC |
American Express® Business Checking | 5.0/5 Best for Online banking and business credit cards | $0 | 1.30% | $0 | |
Wells Fargo Initiate Business Checking℠ Account | 4.0/5 Best for Branch access and business loans | $10.00 Waived with $500 minimum balance | N/A | $25 | |
Capital One Spark Business Basic Checking® | 3.5/5 Best for Unlimited checking account transactions | $15.00 Waived with $2,000 minimum balance | N/A | $250 |
Our pick for
24/7 customer support
Axos Bank® Basic Business Checking
Learn more
at Axos Bank®, Member FDIC
APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
Yes
Unlimited
Overdraft fees
$25
Bonus
$100
Requirements to qualify
Axos Bank offers a free online business checking account with unlimited ATM fee refunds in the U.S. and live, 24/7 customer support. The online bank also offers merchant services, business loans and business savings accounts.
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions.
- Automatic refunds of all ATM fees (domestic).
- Cash deposits via MoneyPass and AllPoint ATMs.
- 24/7 customer support.
- Welcome bonus for new customers (terms apply).
Cons
- $25 fee for insufficient funds/uncollected funds returned.
- No third-party app integrations.
Our pick for
High-yield business checking
Grasshopper Business Checking Account
Learn more
at Grasshopper Bank, Member FDIC
APY
2.25%
With $0 min. balance for APY
Monthly fee
$0
Min. opening deposit
$100
Free cash deposits
No
No cash deposits.
Overdraft fees
$0
Sign-up bonus
$0
Grasshopper Bank offers startup-friendly features like built-in invoicing and bookkeeping tools. Founders can also tap Grasshopper experts for help with everything from accelerator applications to navigating investor opportunities.
Pros
- Unlimited 1% cash back on qualified debit card purchases.
- Earn up to 2.25% APY.
- No monthly fees or overdraft charges.
- Free, built-in bookkeeping software.
Cons
- Can’t deposit cash.
- $100 minimum opening deposit.
Our pick for
Full-service business banking
Chase Business Complete Banking℠
Learn more
at Chase, Member FDIC
APY
N/A
Monthly fee
$15.00
Waived with $2,000 minimum balance
Min. opening deposit
$0
Free cash deposits
Yes
Up to $5,000 per month.
Overdraft fees
$34
Bonus
$500
Requirements to qualify
Chase has something for every business. The bank offers three business checking accounts, two business savings accounts, the Chase Ink suite of business credit cards, business loans and more. Chase has locations in 48 states, with more than 4,700 branches and 16,000 ATMs.
Pros
- No minimum opening deposit.
- Unlimited fee-free electronic transactions.
- Integrated credit card processing.
- Welcome bonus for new customers (terms apply).
- No overdraft fee unless account is overdrawn by more than $50; 24-hour grace period applies to overdrafts beyond that amount.
Cons
- $15 monthly fee.
- Monthly limit on fee-free cash deposits ($5,000) and physical transactions (20).
- Fee for using out-of-network ATMs.
Our pick for
No-fee business banking
nbkc Business Account
Learn more
at nbkc bank, Member FDIC
APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
Yes
Unlimited
Overdraft fees
$0
Sign-up bonus
$0
NBKC has a free business checking account and savings accounts that can be opened completely online. Additional banking services include a business credit card and cash management solutions.
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.
Our pick for
Generous account limits, easy application
Bank of America Business Advantage Fundamentals™ Banking
Learn more
at Bank of America, N.A., Member FDIC
APY
N/A
Monthly fee
$16.00
Waived with $5,000 minimum balance
Min. opening deposit
$100
Free cash deposits
Yes
Up to $7,500 per month.
Overdraft fees
$10
Bonus
$200
See offer page for more details
Bank of America stands out among national and regional brick-and-mortar banks by offering unlimited electronic transactions, high cash deposit limits and three different ways to open an account.
Pros
- Fee-free electronic transactions.
- High cash deposit limits.
- Business accounts can be opened entirely online.
Cons
- No free business checking account option.
- $100 minimum opening deposit.
- Fee for using out-of-network ATMs.
Our pick for
1% cash back on debit card purchases
LendingClub Tailored Checking
Learn more
at LendingClub Bank, Member FDIC
APY
1.50%
With $0 min. balance for APY
Monthly fee
$10.00
Waived with $500 minimum balance
Min. opening deposit
$100
Free cash deposits
Yes
Unlimited
Overdraft fees
$0
Sign-up bonus
$0
LendingClub's main selling point is an interest-earning business checking account with unlimited ATM fee rebates and 1% cash back on debit card purchases. This bank also offers cash management services and small-business loans.
Pros
- Unlimited fee-free transactions; no overdraft fees.
- Earn 1.50% APY on balances up to $100,000 and 0.10% on all balances after that.
- Fee-free ATM access with automatic refund of third-party ATM fees (worldwide).
- Cash deposits via MoneyPass and SUM ATMs.
- Earn unlimited 1% cash back on debit card purchases.
Cons
- $10 monthly fee.
- $100 minimum opening deposit requirement.
- Minimum $500 balance required to earn cash-back rewards and waive monthly fee.
Our pick for
Welcome bonus, free business checking (brick-and-mortar bank)
U.S. Bank Silver Business Checking
Learn more
at U.S. Bank, Member FDIC
APY
N/A
Monthly fee
$0
Min. opening deposit
$100
Free cash deposits
Yes
Up to $2,500 per month.
Overdraft fees
$36
Bonus
$750
Requirements to qualify
You can open a U.S. Bank business account one of three ways: online, in person or by phone. The bank has more than 2,000 branches in 26 states.
U.S. Bank's offers three business checking accounts (one free option), plus business savings, credit cards, merchant services and small-business loans.
Pros
- No monthly service fee for Silver Business Checking account.
- Business accounts can be opened entirely online.
- Optional payment processing services ranging from mobile apps to in-store payment terminals. Additional fees apply.
- Welcome bonus for new customers (terms apply).
Cons
- Low cash deposit limits.
- Terms and fees are not easily accessible via the bank’s website.
Our pick for
Online banking and business credit cards
American Express® Business Checking
APY
1.30%
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
No
No cash deposits.
Overdraft fees
$0
Bonus
$300
Requirements to qualify
American Express business checking has no monthly service fee and earns
1.30%
Annual Percentage Yield (APY) on balances up to $500,000 (terms apply). The bank also offers small-business loans and a suite of top-rated business credit cards.Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions; no overdraft fees.
- Earn 1.30% APY on balances up to $500,000.
- 24/7 customer support.
Cons
- Can’t deposit cash.
- Only available to American Express customers.
Our pick for
Branch access and business loans
Wells Fargo Initiate Business Checking℠ Account
APY
N/A
Monthly fee
$10.00
Waived with $500 minimum balance
Min. opening deposit
$25
Free cash deposits
No
No fee for the first $5,000 cash deposits processed each fee period. After $5,000, it's $.30 per $100 deposited.
Overdraft fees
$35
Sign-up bonus
$0
Wells Fargo has the largest branch network in the U.S. with roughly 4,900 branch locations and over 12,000 ATMs across 40 states, plus Washington, D.C. Its business accounts include three business checking accounts, business savings, credit cards and small-business loans. Wells Fargo is also one of the top SBA lenders in the country.
Pros
- More branch locations than any bank in the U.S.
- Business accounts can be opened entirely online.
- Extended customer service availability.
Cons
- No free business checking account option.
- Stingy transaction allowance.
- Fees for using out-of-network ATMs.
Our pick for
Unlimited checking account transactions
Capital One Spark Business Basic Checking®
APY
N/A
Monthly fee
$15.00
Waived with $2,000 minimum balance
Min. opening deposit
$250
Free cash deposits
No
$5,000 included monthly at no charge; $1 for every $1,000 deposited after that
Overdraft fees
N/A
Sign-up bonus
$0
Capital One has two business checking account options (one free, one with a fee). Both offer unlimited fee-free transactions, a rarity for a brick-and-mortar bank. Beyond that, Capital One offers a suite of six business credit cards with the ability to earn unlimited rewards, access free employee cards and no foreign transaction fees.
Pros
- Unlimited fee-free transactions.
- Expansive ATM network including MoneyPass and Allpoint ATMs.
- Full suite of business services, including business credit cards and loans.
Cons
- No free business checking account options.
- $250 minimum opening deposit requirement.
- Limited service area; must apply in person.
Axos Bank: Best for 24/7 customer support
Axos Bank's free business checking account comes with 24/7 customer support, fee-free cash deposits and unlimited refunds for ATM fees in the United States.
Axos also offers interest-bearing checking and savings accounts, business loans (including SBA loans) and merchant services.
Business checking
- Two business checking accounts: one free and one interest-earning account.
- Business Interest Checking is $10 per month unless you maintain an average daily balance of $5,000. The account earns1.01%APY.
- Basic Business Checking has no monthly fee or minimum opening deposit requirement and includes unlimited fee-free transactions.
- Both accounts allow cash deposits via compatible AllPoint and MoneyPass ATMs.
Additional services
- Business savings, money market and certificates of deposit.
- Nationwide Business Premium Savings Accountpowered by Axos earns2.00%to3.75%APY, depending on your balance. Minimum opening deposit of $25,000.
- Merchant services, including point-of-sale systems, e-commerce solutions and check acceptance through Cerelo Merchant Services.
- Small-business loans, including SBA 7(a) loans, real estate and equipment financing, and working capital loans.
» Read our full Axos business checking review
American Express: Best for online banking, business credit cards
American Express’s new business checking account offers one of the most competitive interest rates out there for businesses:
1.30%
on balances up to $500,000. The free online business checking account also has no monthly fees, overdraft fees or stop-payment fees.Beyond that, American Express offers small-business loans and a suite of American Express business credit cards.
Business checking
- Free online business checking account with almost no fees; outgoing domestic wire transfers ($20) are the exception.
- Earns1.30%APY on balances up to $500,000.
- No limit on transactions and no charges for overdrafts, nonsufficient funds, incoming wire transfers or stop payments.
- 24/7 customer support online, by phone or via the app.
- Mobile app (and mobile check deposit) only available for iOS.
- Cannot deposit cash.
Additional services
- Top-rated business credit cards, includingAmerican Express Blue Business Cash™ Card, which offers the following:Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Cash back earned is automatically credited to your statement. Terms Apply.
- Branded hotel and airline business cards for Hilton, Marriott, Delta and Amazon.
- American Express Business Blueprint™, a suite of products that includes business lines of credit ranging from $2,000 to $250,000, as well as invoicing and credit card processing.
» Read our full American Express business checking review
NBKC: Best for no-fee business banking
NBKC is a great option for fee-free, online-based business banking (though the bank does have four branches in the Kansas City area). NBKC offers a free business checking account, as well as a free high-yield business savings account that earns
2.00%
APY.Business checking
- Free business checking account that can be opened completely online.
- Account includes unlimited fee-free transactions and no incoming domestic wire fees, overdraft, stop payment or similar incidental fees.
- Fee-free access to over 37,000 MoneyPass ATMs across the country; up to $12 in monthly refunds for ATM fees charged by other banks worldwide.
- Ability to deposit cash fee-free at eligible MoneyPass ATMs using your NBKC business debit card.
- Free online and mobile banking with mobile check deposit and online bill pay included.
- Option to customize your checking account by adding desktop deposit, ACH credit and debits, merchant processing and Autobooks invoicing software.
Additional services
- Free business money market account, which earns2.00%APY as long as you have a balance of at least 1 cent.
- NBKC Visa business credit card.
- Customizable cash management, fraud management, disbursement and collection services.
- For businesses located in the Kansas City metro area, NBKC offers business lines of credit, inventory and equipment loans, commercial real estate and construction loans, as well as SBA loans.
» Read our full NBKC business checking review
LendingClub: Best for 1% cash back on debit card purchases
LendingClub offers a high-yield online business checking account that includes unlimited ATM fee rebates and earns unlimited 1% cash back on debit card purchases. You can also deposit cash at compatible ATMs for no additional fee (a rarity for online business accounts). The trade-off: A $10 monthly fee (waived with an average monthly balance of $500).
Business checking
- Interest-earning business checking account with unlimited fee-free transactions. Account earns1.50%on balances up to $100,000 and0.10%on all balances after that.
- Monthly fee of $10, waived with an average monthly balance of $500 or more.
- No ATM fees, regardless of the ATM you use, plus unlimited rebates for ATM fees you incur from other banks worldwide.
- Earn an unlimited 1% cash back on online and signature-based credit transactions, provided you maintain an average monthly balance of $500 or more.
- Access to online and mobile banking tools that allow you to pay bills, deposit checks, send and receive payments and manage your account.
- Account includes Autobooks, an invoicing and online payment software that allows you to create and send invoices, accept payments, generate reports and reconcile transactions for accounting.
Additional services
- SBA loans, including SBA 7(a) loans, SBA 504/CDC loans, SBA Express loans, SBA Export Program loans and SBA Express lines of credit.
- Commercial real estate and equipment financing.
- Cash management solutions including deposit and disbursement services, receivables and account management, sweep accounts, fraud prevention and payments.
» Read our full LendingClub business checking review
Chase: Best for full-service business banking
Chase offers a variety of small-business banking services that set it apart from other national brick-and-mortar banks, including three business checking accounts, two business savings accounts and the Chase Ink suite of business credit cards, among other financial products.
You can open a business account online or in person. (Chase has more than 4,700 branches across 28 states.)
Business checking
- Three business checking account options, which each include unlimited fee-free electronic deposits.
- Monthly service fees start at $15 per month for the Business Complete Banking account (with options to waive).
- Opportunity to earn a $500welcome bonus. Terms apply.
- Business Complete Banking account includes Chase QuickAccept℠, which allows you to accept credit card payments with the Chase mobile app.
- Use Chase QuickDeposit℠ for depositing checks and Chase QuickPay® with Zelle® for sending and receiving payments.
- 24/7 phone-based customer service.
Additional services
- Two business savings account options, as well as certificates of deposit.
- Ink suite of rewards-earning business credit cards, plus airline-specific card options.
- Chase Payment Solutions for point-of-sale solutions and online credit card processing.
- Business loans, including SBA loans, lines of credit, equipment financing and commercial real estate financing.
- Chase Collection Services for accounts receivable.
» Read our full Chase business checking review
Wells Fargo: Best for branch access and business loans
Wells Fargo has roughly 4,900 branch locations and over 12,000 ATMs across 40 states, plus Washington, D.C. — the largest branch network in the U.S. — making it an ideal choice for small-business owners who prefer to do at least some of their banking in person.
In addition, Wells Fargo is among the best banks for business loans, offering competitive financing options, including those with benefits for existing customers. Wells Fargo is also one of the most active SBA 7(a) lenders and ranked third in SBA 7(a) loans approved for fiscal year 2022 .
» MORE: Need financing? Compare small-business loans
Business checking
- Choose among three core business checking account options, as well as additional options based on location and business type.
- Limited fee-free monthly transactions and cash deposits included with each account.
- Monthly service fees start at $10 per month (waived with a minimum daily balance of $500 or $1,000 average ledger balance) with the Initiate Business Checking account.
- Extended customer support hours available by phone through the National Business Banking Center.
- All business checking accounts can be opened online, over the phone or by visiting a branch.
Additional services
- Multiple business savings account options, including one of our picks for the best business certificates of deposit.
- Three business credit cards, including the Wells Fargo Business Secured Credit Card, one of the only secured credit cards available for rebuilding business credit.
- Business lines of credit and SBA loans, including SBA 7(a) loans and SBA 504/CDC loans.
- Commercial real estate financing and health care practice financing.
- Wells Fargo Merchant Services with Clover POS systems.
- Payroll services for customers through ADP.
» Read our full Wells Fargo business checking review
Capital One: Best for unlimited checking account transactions
Capital One’s business checking accounts offer unlimited fee-free transactions, an uncommon feature for brick-and-mortar banks. Capital One also has some of the best business credit cards on the market.
Business checking
- Choose from two business checking account options: Basic and Unlimited.
- Unlimited fee-free transactions included with each account.
- Monthly service fees start at $15 per month for Basic business checking and can be waived with a minimum balance of $2,000 over 30- or 90-day average, whichever is greater.
- Unlimited fee-free cash deposits with Unlimited business checking.
- Have to visit a branch location to apply. Capital One branches are concentrated in six states, plus Washington, D.C.
Additional services
- One business savings account option and certificates of deposit.
- Suite of Capital One business credit cards, including two standard cash-back business credit cards, two travel rewards business credit cards, a charge card, and theCapital One® Spark® Classic for Business— an unsecured business credit card designed specifically for business owners who have defaulted on a loan in the past five years or those with limited credit history.
- Business loans, including working capital lines of credit, equipment and vehicle loans, real estate term loans, business installment loans, SBA 7(a) loans, SBA 504/CDC loans, as well as more specialized options.
- Capital One Merchant Services provided by Worldpay.
- Cash flow management solutions such as fraud management, accounts receivable, accounts payable and liquidity.
- Escrow Express platform available for online sub-accounting.
» Read our full Capital One business checking review
U.S. Bank: Welcome bonus, free business checking (brick-and-mortar)
U.S. Bank is one of the few brick-and-mortar banks that lets you open a business account online, as well as over the phone or in-person. And new account holders can net a substantial welcome bonus with qualifying activities:
Earn a bonus of up to $750 when you open a new, eligible U.S. Bank business checking account online with promo code Q1AFL23 and complete qualifying activities, subject to certain terms and limitations. Offer valid through June 30, 2023. Member FDIC.
Business owners can choose from one of three U.S. Bank business checking accounts (including a free business checking option) and take advantage of additional services, including payment processing, small-business loans and business credit cards.
Business checking
- Three account options, ranging from free to $30 per month. All require an opening deposit of at least $100.
- U.S. Bank Silver Business Checking ($0) includes 125 free transactions and up to $2,500 in fee-free cash deposits per month.
- More than 2,000 branches across 26 states. Account holders do not incur fees at U.S. Bank and MoneyPass ATMs.
Additional services
- Three business credit cards, including theU.S. Bank Business Triple Cash Rewards World Elite Mastercard®, which has a $500welcome bonus (terms apply), no annual fee and earns up to 3% cash back.
- Full suite of small-business loans, including lines of credit, SBA loans, equipment financing, term loans and commercial real estate financing.
- Business savings, CDs and money market accounts.
- Payment processing services range from online credit card processing to in-store payment terminals.
» Read our full U.S. Bank business checking review
Bank of America: Best for generous account limits, easy application
Bank of America stands out among national and regional brick-and-mortar banks by offering unlimited fee-free electronic transactions, high cash deposit limits and three different ways to open an account.
Two options for business checking accounts, several solid business credit cards, a high-yield business CD account and dedicated business support round out Bank of America’s business banking services.
Business checking
- Two account options ranging from $16 to $29.95 per month. Both require a minimum opening deposit of $100.
- Bank of America Business Advantage Fundamentals Banking includes unlimited electronic transactions, up to 200 fee-free non-electronic transactions (checks paid, other debits, deposited items) and up to $7,500 in fee-free cash deposits per statement cycle.
- More than 3,800 branches across 37 states and the District of Columbia. And nearly 16,000 fee-free Bank of America ATMs.
- Opportunity to earn a $200welcome bonus. Terms apply.
Additional service
- Five business credit cards, including a secured business card for business owners with poor or limited personal credit history.
- Multiple business savings accounts, including a high-yield business CD.
- Full suite of business loans, including secured and unsecured loans and lines of credit, SBA loans and franchise financing. Read our review of Bank of America business loans.
» Read our full Bank of America business checking review
Grasshopper: Best for high-yield business checking
Grasshopper is a fully digital, FDIC-insured bank that launched in 2019 and caters exclusively to small businesses (the bank does not offer consumer accounts).
Grasshopper’s lone business checking offering — a high-yield account that earns up to
2.25
% APY — includes startup-friendly features like invoicing and bookkeeping tools that are built into Grasshopper’s online banking platform. Founders can also tap Grasshopper experts for help with everything from accelerator applications to navigating investor opportunities.It’s worth noting: This business banking account does not support cash deposits. And while there is robust customer service access during the week, Grasshopper does not offer weekend support.
Business checking
- Free online business checking account with no overdraft fees, transaction limits or minimum balance requirements. The account does, however, require a minimum opening deposit of at least $100.
- Earn up to2.25% APY.
- Unlimited 1% cash back on qualifying debit card purchases (online and signature-based ones).
- No fees for ACH transfers, incoming wires, overdrafts or ATM usage (third-party fees may apply, though).
Additional services
- Mentoring and networking opportunities for startup founders.
- SBA loans and commercial real estate lending, as well as access to venture capital and private equity funding.
» Read our full Grasshopper Bank business checking review
Here are some things to keep in mind as you compare your options:
- Consider your short- and long-term financial goals. If you think your business’s needs will change drastically in a year, choose a business bank that you can grow with. Ideally, one that offers a variety of business banking services.
- Think about how you prefer to bank. Are you going to turn your search exclusively to brick-and-mortar banks or are online banks an option? Business owners who want an online business checking account can also look to neobanks — fintech companies that partner with a bank to offer FDIC-insured business banking services. Neobanks typically offer free or low-cost business checking with a host of perks, like tax-planning tools or a high APY. These accounts may lack traditional banking functions, though, like wire transfers and the ability to make deposit checks. And many offer customer support almost exclusively via email.
- Look for the product features or services that are most important to you. If a business checking account is your top priority, narrow down your search to find the best business checking account options for your business. On the other hand, if you want to bundle multiple products together, find a bank that can provide the services that are most important to you.
- Don’t forget about fees. Make sure you understand the fees associated with any business bank account, and explore multiple options before signing up.
- Start, but don’t end, your search with your personal bank. According to a 2019 study from BAI, a research and training nonprofit for business owners, 79% of small-business owners reported using the same provider for their personal and business financial services. The same study points out, however, that business owners report less satisfaction with their bank than general banking customers. The net promoter score — a measure of customer satisfaction — is 35 for general banking customers, but only 24 for business owners. While it might be easy to start your search with your personal bank, it might be worth exploring alternative banks as well.
Compare more business banking options
Want to explore more banks for small businesses? Use NerdWallet's tool to search for and compare business checking accounts based on the features that are important to you, whether that's unlimited transactions, free ATM access, no monthly fee or a low minimum opening deposit.
The information related to the Wells Fargo Business Secured Credit Card has been collected by NerdWallet and has not been reviewed or provided by the issuer or provider of this product or service.
Last updated on June 1, 2023
Methodology
NerdWallet evaluates more than 30 business bank accounts from national, regional and online banks. Collectively, these accounts represent the largest banks by assets, internet search traffic and other factors, along with notable or emerging players in the industry.
We consider more than 20 data points for each account, scoring them on fees, perks and accessibility, among other factors. This information is gathered from each financial institution's website and company representatives. In addition, data is collected regularly and reviewed by our editorial team for consistency and accuracy.
Final star ratings are presented on a scale of one to five stars, where a one-star score represents "poor" and a five-star score represents "excellent." Learn more about how we rate business checking accounts.