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Best Business Bank Accounts of December 2023

Last updated on December 1, 2023
Edited byRyan Lane
Fact checked and reviewed

⏰ Estimated read time: 4 minutes

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A business bank account can serve multiple functions depending on your business's size, needs and stage of growth. A business checking account is often the first step. Most companies build from there, opening a combination of business banking accounts to capitalize on interest, save for long-term goals, link to a merchant account or tie to a small-business loan.
We rounded up the best bank accounts for small businesses, organized by perks (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 business accounts for your business.

Best Business Bank Accounts

Bank/institutionNerdWallet ratingMonthly feeAPYBonusLearn more

Bluevine Business Checking

Learn more

at Bluevine, Deposits are FDIC Insured

5.0/5

Best for Online business bank accounts + Earning interest

$0

2.00%

With $0 min. balance for APY

$0
Learn more

at Bluevine, Deposits are FDIC Insured

Grasshopper Business Checking Account

Learn more

at Grasshopper Bank, Member FDIC

5.0/5

Best for Online business bank accounts + Earning interest

$0

2.25%

With $0 min. balance for APY

$0
Learn more

at Grasshopper Bank, Member FDIC

Axos Bank® Basic Business Checking

Learn more

at Axos Bank®, Member FDIC

5.0/5

Best for Online business bank accounts + Cash deposits

$0

N/A$400

Requirements to qualify

Learn more

at Axos Bank®, Member FDIC

nbkc Business Account

Learn more

at nbkc bank, Member FDIC

5.0/5

Best for Online business bank accounts + Cash deposits + No fees

$0

N/A$0
Learn more

at nbkc bank, Member FDIC

LendingClub Tailored Checking

Learn more

at LendingClub Bank, Member FDIC

5.0/5

Best for Online business bank accounts + Earning interest + Cash deposits

$10.00

Waived with $500 minimum balance

1.50%

With $0 min. balance for APY

$0
Learn more

at LendingClub Bank, Member FDIC

Chase Business Complete Banking℠

Learn more

at Chase, Member FDIC

5.0/5

Best for Branch access

$15.00

Waived with $2,000 minimum balance

N/A$300

Requirements to qualify

Learn more

at Chase, Member FDIC

U.S. Bank Silver Business Checking

Learn more

at U.S. Bank, Member FDIC

4.0/5

Best for Branch access

$0

N/A$800

Requirements to qualify

Learn more

at U.S. 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 Branch access + Cash deposits

$16.00

Waived with $5,000 minimum balance

N/A$200

See offer page for more details

Learn more

at Bank of America, N.A., Member FDIC

Wells Fargo Initiate Business Checking℠ Account

4.0/5

Best for Branch access

$10.00

Waived with $500 minimum balance

N/A$0

Live Oak Bank Business Savings

Learn more

at Live Oak Bank, Member FDIC

5.0/5

Best for Earning interest

$0

4.00%

With $0.01 min. balance for APY

$0
Learn more

at Live Oak Bank, Member FDIC

Relay Business Savings

Learn more

at Relay, Deposits are FDIC Insured

3.5/5

Best for Earning interest

$0

1.00%

With $1 min. balance for APY

$0
Learn more

at Relay, Deposits are FDIC Insured

nbkc bank Business Money Market Account

Learn more

at nbkc bank, Member FDIC

4.5/5

Best for Earning interest

$0

2.50%

With $0.01 min. balance for APY

$0
Learn more

at nbkc bank, Member FDIC

First Internet Bank Business Money Market Savings

4.0/5

Best for Earning interest

$5.00

Waived with $4,000 minimum balance

3.45%

With $0 min. balance for APY

$0

Relay Business Checking

Learn more

at Relay, Deposits are FDIC Insured

5.0/5

Best for Cash deposits + No fees

$0

N/A$0
Learn more

at Relay, Deposits are FDIC Insured

Navy Federal Credit Union Business Checking

4.5/5

Best for Cash deposits

$0

0.01%

With $0 min. balance for APY

$0

Mercury Business Bank Account

Learn more

at Mercury, Deposits are FDIC Insured

4.5/5

Best for No fees

$0

N/A$0
Learn more

at Mercury, Deposits are FDIC Insured

Bank/institutionNerdWallet ratingMonthly feeAPYBonusLearn more

Bluevine Business Checking

Learn more

at Bluevine, Deposits are FDIC Insured

5.0/5

Best for Online business bank accounts + Earning interest

$0

2.00%

With $0 min. balance for APY

$0
Learn more

at Bluevine, Deposits are FDIC Insured

Grasshopper Business Checking Account

Learn more

at Grasshopper Bank, Member FDIC

5.0/5

Best for Online business bank accounts + Earning interest

$0

2.25%

With $0 min. balance for APY

$0
Learn more

at Grasshopper Bank, Member FDIC

Axos Bank® Basic Business Checking

Learn more

at Axos Bank®, Member FDIC

5.0/5

Best for Online business bank accounts + Cash deposits

$0

N/A$400

Requirements to qualify

Learn more

at Axos Bank®, Member FDIC

nbkc Business Account

Learn more

at nbkc bank, Member FDIC

5.0/5

Best for Online business bank accounts + Cash deposits + No fees

$0

N/A$0
Learn more

at nbkc bank, Member FDIC

LendingClub Tailored Checking

Learn more

at LendingClub Bank, Member FDIC

5.0/5

Best for Online business bank accounts + Earning interest + Cash deposits

$10.00

Waived with $500 minimum balance

1.50%

With $0 min. balance for APY

$0
Learn more

at LendingClub Bank, Member FDIC

Chase Business Complete Banking℠

Learn more

at Chase, Member FDIC

5.0/5

Best for Branch access

$15.00

Waived with $2,000 minimum balance

N/A$300

Requirements to qualify

Learn more

at Chase, Member FDIC

U.S. Bank Silver Business Checking

Learn more

at U.S. Bank, Member FDIC

4.0/5

Best for Branch access

$0

N/A$800

Requirements to qualify

Learn more

at U.S. 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 Branch access + Cash deposits

$16.00

Waived with $5,000 minimum balance

N/A$200

See offer page for more details

Learn more

at Bank of America, N.A., Member FDIC

Wells Fargo Initiate Business Checking℠ Account

4.0/5

Best for Branch access

$10.00

Waived with $500 minimum balance

N/A$0

Live Oak Bank Business Savings

Learn more

at Live Oak Bank, Member FDIC

5.0/5

Best for Earning interest

$0

4.00%

With $0.01 min. balance for APY

$0
Learn more

at Live Oak Bank, Member FDIC

Relay Business Savings

Learn more

at Relay, Deposits are FDIC Insured

3.5/5

Best for Earning interest

$0

1.00%

With $1 min. balance for APY

$0
Learn more

at Relay, Deposits are FDIC Insured

nbkc bank Business Money Market Account

Learn more

at nbkc bank, Member FDIC

4.5/5

Best for Earning interest

$0

2.50%

With $0.01 min. balance for APY

$0
Learn more

at nbkc bank, Member FDIC

First Internet Bank Business Money Market Savings

4.0/5

Best for Earning interest

$5.00

Waived with $4,000 minimum balance

3.45%

With $0 min. balance for APY

$0

Relay Business Checking

Learn more

at Relay, Deposits are FDIC Insured

5.0/5

Best for Cash deposits + No fees

$0

N/A$0
Learn more

at Relay, Deposits are FDIC Insured

Navy Federal Credit Union Business Checking

4.5/5

Best for Cash deposits

$0

0.01%

With $0 min. balance for APY

$0

Mercury Business Bank Account

Learn more

at Mercury, Deposits are FDIC Insured

4.5/5

Best for No fees

$0

N/A$0
Learn more

at Mercury, Deposits are FDIC Insured

I'M INTERESTED IN:

Our picks for

Online business bank accounts

Bank from anywhere with a fully online business checking account.

Bluevine Business Checking

Read Review
Learn more

at Bluevine, Deposits are FDIC Insured

APY

2.00%

With $0 min. balance for APY

Monthly fee

$0

Min. opening deposit

$0

Free cash deposits

No

Fee of up to $4.95 per cash deposit.

Overdraft fees

$0

Bonus

$0

Grasshopper Business Checking Account

Read Review
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

Bonus

$0

Axos Bank® Basic Business Checking

Read Review
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

$400

Requirements to qualify

nbkc Business Account

Read Review
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

Bonus

$0

LendingClub Tailored Checking

Read Review
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

Bonus

$0

Our picks for

Branch access

Prefer in-person banking? Open a business account with one of these banks and you'll have access to thousands of branch locations across the United States.

Chase Business Complete Banking℠

Read Review
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

$300

Requirements to qualify

U.S. Bank Silver Business Checking

Read Review
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

$800

Requirements to qualify

Bank of America Business Advantage Fundamentals™ Banking

Read Review
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

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

Yes

Up to $5,000.

Overdraft fees

$35

Bonus

$0

Our picks for

Earning interest

Let your money earn money with these high-yield business checking and savings accounts, which offer APYs well above the national average (0.45% APY, as of this writing, according to the Federal Deposit Insurance Corp.)

Live Oak Bank Business Savings

Read Review
Learn more

at Live Oak Bank, Member FDIC

APY

4.00%

With $0.01 min. balance for APY

Monthly fee

$0

Min. opening deposit

$0

Free cash deposits

N/A

Overdraft fees

N/A

Bonus

$0

Bluevine Business Checking

Read Review
Learn more

at Bluevine, Deposits are FDIC Insured

APY

2.00%

With $0 min. balance for APY

Monthly fee

$0

Min. opening deposit

$0

Free cash deposits

No

Fee of up to $4.95 per cash deposit.

Overdraft fees

$0

Bonus

$0

Relay Business Savings

Read Review
Learn more

at Relay, Deposits are FDIC Insured

APY

1.00%

With $1 min. balance for APY

Monthly fee

$0

Min. opening deposit

$0

Free cash deposits

N/A

Overdraft fees

N/A

Bonus

$0

nbkc bank Business Money Market Account

Read Review
Learn more

at nbkc bank, Member FDIC

APY

2.50%

With $0.01 min. balance for APY

Monthly fee

$0

Min. opening deposit

$0

Free cash deposits

N/A

Overdraft fees

$0

Bonus

$0

LendingClub Tailored Checking

Read Review
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

Bonus

$0

Grasshopper Business Checking Account

Read Review
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

Bonus

$0

First Internet Bank Business Money Market Savings

4.0
NerdWallet rating 
APY

3.45%

With $0 min. balance for APY

Monthly fee

$5.00

Waived with $4,000 minimum balance

Min. opening deposit

$100

Free cash deposits

N/A

Overdraft fees

N/A

Bonus

$0

Our picks 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.

LendingClub Tailored Checking

Read Review
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

Bonus

$0

Bank of America Business Advantage Fundamentals™ Banking

Read Review
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

Axos Bank® Basic Business Checking

Read Review
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

$400

Requirements to qualify