Best Business Bank Accounts of May 2022
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A small-business bank account can serve many functions. It can help establish your company by fully separating business and personal finances. A business account can also help you earn interest and save for long-term goals.
A business checking account is often the first step. Most companies build from there, opening a combination of business accounts to serve different functions.
We rounded up the best business bank accounts to fit your needs (no fees, earning interest, cash deposits) and preferences (in-person versus online banking). We also break down what account to use when, and how to choose the best one for your business.
A small-business bank account can serve many functions. It can help establish your company by fully separating business and personal finances. A business account can also help you earn interest and save for long-term goals.
A business checking account is often the first step. Most companies build from there, opening a combination of business accounts to serve different functions.
We rounded up the best business bank accounts to fit your needs (no fees, earning interest, cash deposits) and preferences (in-person versus online banking). We also break down what account to use when, and how to choose the best one for your business.
Best Business Bank Accounts
Our picks for
Best online business bank accounts
Bank from anywhere with a fully online business bank account.

at Bluevine, Deposits are FDIC Insured
Bluevine Business Checking

Monthly fee
$0APY
1.50%With $0 min. balance for APY
Min. opening deposit
$0at Bluevine, Deposits are FDIC Insured

at Relay, Deposits are FDIC Insured
Relay

Monthly fee
$0APY
N/AMin. opening deposit
$0at Relay, Deposits are FDIC Insured

at nbkc bank, Member FDIC
nbkc Business Account

Monthly fee
$0APY
N/AMin. opening deposit
$0at nbkc bank, Member FDIC

at Mercury, Deposits are FDIC Insured
Mercury Business Bank Account

Monthly fee
$0APY
N/AMin. opening deposit
$0at Mercury, Deposits are FDIC Insured
Our picks for
Best business bank accounts for branch access
Prefer in-person banking? Open a business account with one of these banks and you'll have access to more than 4,200 branch locations across the United States.

at Chase, Member FDIC
Chase Business Complete Banking℠

Monthly fee
$15.00Waived with $2,000 minimum balance
APY
N/AMin. opening deposit
$0at Chase, Member FDIC

at Bank of America, N.A., Member FDIC
Bank of America Business Advantage Fundamentals™ Banking

Monthly fee
$16.00Waived with $5,000 minimum balance
APY
N/AMin. opening deposit
$0at Bank of America, N.A., Member FDIC
Wells Fargo Initiate Business Checking℠ Account

Monthly fee
$10.00Waived with $500 minimum balance
APY
N/AMin. opening deposit
$25Our picks for
Best online business bank accounts
Bank from anywhere with a fully online business bank account.

at Bluevine, Deposits are FDIC Insured
Bluevine Business Checking

Monthly fee
$0APY
1.50%With $0 min. balance for APY
Min. opening deposit
$0at Bluevine, Deposits are FDIC Insured

at Relay, Deposits are FDIC Insured
Relay

Monthly fee
$0APY
N/AMin. opening deposit
$0at Relay, Deposits are FDIC Insured

at nbkc bank, Member FDIC
nbkc Business Account

Monthly fee
$0APY
N/AMin. opening deposit
$0at nbkc bank, Member FDIC

at Mercury, Deposits are FDIC Insured
Mercury Business Bank Account

Monthly fee
$0APY
N/AMin. opening deposit
$0at Mercury, Deposits are FDIC Insured
Our picks for
Best business accounts for cash deposits
These business bank accounts have no caps or fees for cash deposits — a must for small businesses that deal primarily in cash.

at LendingClub Bank, Member FDIC
LendingClub Tailored Checking

Monthly fee
$10.00Waived with $5,000 minimum balance
APY
0.10%With $5,000 min. balance for APY
Min. opening deposit
$0at LendingClub Bank, Member FDIC
Navy Federal Credit Union Business Checking

Monthly fee
$0APY
0.01%With $0 min. balance for APY
Min. opening deposit
$255
at nbkc bank, Member FDIC
nbkc Business Account

Monthly fee
$0APY
N/AMin. opening deposit
$0at nbkc bank, Member FDIC
Our picks for
Best business bank accounts for no fees
These business accounts take free to the next level, with no monthly fees, overdraft fees, transaction fees or ATM fees.

at Relay, Deposits are FDIC Insured
Relay

Monthly fee
$0APY
N/AMin. opening deposit
$0at Relay, Deposits are FDIC Insured

at Bluevine, Deposits are FDIC Insured
Bluevine Business Checking

Monthly fee
$0APY
1.50%With $0 min. balance for APY
Min. opening deposit
$0at Bluevine, Deposits are FDIC Insured

at nbkc bank, Member FDIC
nbkc Business Account

Monthly fee
$0APY
N/AMin. opening deposit
$0at nbkc bank, Member FDIC

at Mercury, Deposits are FDIC Insured
Mercury Business Bank Account

Monthly fee
$0APY
N/AMin. opening deposit
$0at Mercury, Deposits are FDIC Insured
Types of business accounts
Most businesses use a combination of the following business accounts: checking, savings, credit card and merchant services. Each account type serves a different function.
Business checking accounts are ideal for day-to-day transactions and keeping business and personal finances separate. Savings accounts are a good tool to stash funds for long-term goals.
A small-business credit card can help you build your business credit history, earn rewards on everyday spending, and a merchant account allows you to accept credit and debit card payments from your customers. You need to open a business checking account before you can get a merchant account.
Best for: Everyday use. | Best for: Long-term savings. | Best for: Building credit, earning rewards. | Best for: Accepting debit and credit card payments. |
What to keep in mind:
| What to keep in mind:
| What to keep in mind:
| What to keep in mind:
|
Choosing a business bank account
Consider what type of business bank account you need, whether you’re interested in an online-only account and how you want to open your account (online vs. in person). Then, compare your business bank account options, taking the following factors into account:
Monthly fees.
Minimum balance requirements.
Included fee-free transactions.
ATM access (withdrawals and deposits).
Wiring, transfer and payment capabilities.
Incidental fees (stop payment, nonsufficient funds, overdrafts).
Online and mobile banking.
Additional features, such as bill pay, invoicing or integrations with other business tools.
Last updated on March 23, 2022
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People often identify opening a savings account as their next money move.
Marcus by Goldman Sachs Online Savings Account

APY
With $0 min. balance for APY
at Marcus by Goldman Sachs, Member FDIC
Discover Bank Online Savings

APY
With $0 min. balance for APY
Bonus
Requirements to qualify
at Discover Bank, Member FDIC
American Express® High Yield Savings Account

APY
With $1 min. balance for APY
at American Express National Bank, Member FDIC
To recap our selections...
NerdWallet's Best Business Bank Accounts of May 2022
- Bluevine Business Checking: Best for Best online business bank accounts + Best business accounts for earning interest + Best business bank accounts for no fees
- Relay: Best for Best online business bank accounts + Best business bank accounts for no fees
- nbkc Business Account: Best for Best online business bank accounts + Best business accounts for cash deposits + Best business bank accounts for no fees
- Mercury Business Bank Account: Best for Best online business bank accounts + Best business bank accounts for no fees
- Chase Business Complete Banking℠: Best for Best business bank accounts for branch access
- Bank of America Business Advantage Fundamentals™ Banking: Best for Best business bank accounts for branch access
- Wells Fargo Initiate Business Checking℠ Account: Best for Best business bank accounts for branch access
- Kabbage Checking™: Best for Best business accounts for earning interest
- Live Oak Bank Business Savings: Best for Best business accounts for earning interest
- First Internet Bank Business Money Market Savings: Best for Best business accounts for earning interest
- LendingClub Tailored Checking: Best for Best business accounts for cash deposits
- Navy Federal Credit Union Business Checking: Best for Best business accounts for cash deposits