Quick picks for business accounts
Best Business Bank Accounts From Our Partners
| Bank/institution | NerdWallet rating▼ | Monthly fee▼ | APY▼ | Bonus▼ | Learn more |
|---|---|---|---|---|---|
Bluevine Business Checking Learn more at Bluevine, Deposits are FDIC Insured | 4.7/5 Best for High-yield business checking | $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 | 4.5/5 Best for Cash back + interest | $0 | 2.25% With $0 min. balance for APY | $0 | Learn more at Grasshopper Bank, Member FDIC |
Bank of America® Business Advantage Fundamentals™ Banking Learn more at Bank of America, N.A., Member FDIC | 4.5/5 Best for Branch access + cash deposits | $16.00 | N/A | $0 | Learn more at Bank of America, N.A., Member FDIC |
Chase Business Complete Banking® Learn more at Chase, Member FDIC | 4.5/5 Best for Branch access + overdraft grace period | $15.00 Waived with $2,000 minimum balance | N/A | $300 Requirements to qualify | Learn more at Chase, Member FDIC |
nbkc Business Account Learn more at nbkc bank, Member FDIC | 4.9/5 Best for Fee-free online banking | $0 | N/A | $0 | Learn more at nbkc bank, Member FDIC |
U.S. Bank Silver Business Checking Learn more at U.S. Bank, Member FDIC | 4.0/5 Best for Free brick-and-mortar banking + welcome bonus | $0 | N/A | $800 Requirements to qualify | Learn more at U.S. Bank, Member FDIC |
Axos Bank® Basic Business Checking Learn more at Axos Bank®, Member FDIC | 5.0/5 Best for Cash-based businesses | $0 | N/A | $400 Requirements to qualify | Learn more at Axos Bank®, Member FDIC |
Live Oak Bank Business Savings Learn more at Live Oak Bank, Member FDIC | 5.0/5 Best for High-yield business savings account | $0 | 4.00% With $0.01 min. balance for APY | $300 Requirements to qualify | Learn more at Live Oak Bank, Member FDIC |
nbkc bank Business Money Market Account Learn more at nbkc bank, Member FDIC | 4.5/5 Best for Business money market account | $0 | 2.75% With $0.01 min. balance for APY | $0 | Learn more at nbkc bank, Member FDIC |
Found Small Business Banking Learn more at Found, Deposits are FDIC Insured | 4.4/5 Best for Freelancer-friendly tools | $0 | N/A | $20 Requirements to qualify | Learn more at Found, Deposits are FDIC Insured |
| Bank/institution | NerdWallet rating▼ | Monthly fee▼ | APY▼ | Bonus▼ | Learn more |
|---|---|---|---|---|---|
Bluevine Business Checking Learn more at Bluevine, Deposits are FDIC Insured | 4.7/5 Best for High-yield business checking | $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 | 4.5/5 Best for Cash back + interest | $0 | 2.25% With $0 min. balance for APY | $0 | Learn more at Grasshopper Bank, Member FDIC |
Bank of America® Business Advantage Fundamentals™ Banking Learn more at Bank of America, N.A., Member FDIC | 4.5/5 Best for Branch access + cash deposits | $16.00 | N/A | $0 | Learn more at Bank of America, N.A., Member FDIC |
Chase Business Complete Banking® Learn more at Chase, Member FDIC | 4.5/5 Best for Branch access + overdraft grace period | $15.00 Waived with $2,000 minimum balance | N/A | $300 Requirements to qualify | Learn more at Chase, Member FDIC |
nbkc Business Account Learn more at nbkc bank, Member FDIC | 4.9/5 Best for Fee-free online banking | $0 | N/A | $0 | Learn more at nbkc bank, Member FDIC |
U.S. Bank Silver Business Checking Learn more at U.S. Bank, Member FDIC | 4.0/5 Best for Free brick-and-mortar banking + welcome bonus | $0 | N/A | $800 Requirements to qualify | Learn more at U.S. Bank, Member FDIC |
Axos Bank® Basic Business Checking Learn more at Axos Bank®, Member FDIC | 5.0/5 Best for Cash-based businesses | $0 | N/A | $400 Requirements to qualify | Learn more at Axos Bank®, Member FDIC |
Live Oak Bank Business Savings Learn more at Live Oak Bank, Member FDIC | 5.0/5 Best for High-yield business savings account | $0 | 4.00% With $0.01 min. balance for APY | $300 Requirements to qualify | Learn more at Live Oak Bank, Member FDIC |
nbkc bank Business Money Market Account Learn more at nbkc bank, Member FDIC | 4.5/5 Best for Business money market account | $0 | 2.75% With $0.01 min. balance for APY | $0 | Learn more at nbkc bank, Member FDIC |
Found Small Business Banking Learn more at Found, Deposits are FDIC Insured | 4.4/5 Best for Freelancer-friendly tools | $0 | N/A | $20 Requirements to qualify | Learn more at Found, Deposits are FDIC Insured |
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Our pick for
High-yield business checking
Bluevine Business Checking
at Bluevine, Deposits are FDIC Insured
With $0 min. balance for APY
Fees vary by location.
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions; no overdraft fees.
- Earn 2.00% interest on account balances up to and including $250,000. Terms apply.
- Access up to $3 million in FDIC insurance with Insured Cash Sweep.
- No fees at 37,000 MoneyPass ATMs.
- Free incoming wires and low outgoing wire transfer fees.
- Sub-accounts help users set funds aside for specific purposes.
Cons
- No fee-free cash deposits. Cash deposits at Green Dot locations are capped at $2,000 per day and a service fee of up to $4.95 per deposit applies. At Allpoint ATMs that accept cash, deposits are capped at $5,500 per day and a fee of $1 plus 0.5% of the deposit amount applies.
- Fee for using out-of-network ATMs.
- No joint accounts or employee debit cards.
Our pick for
Cash back + interest
Grasshopper Business Checking Account
at Grasshopper Bank, Member FDIC
With $0 min. balance for APY
No cash deposits.
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.
- No weekend support.
Our pick for
Branch access + cash deposits
Bank of America® Business Advantage Fundamentals™ Banking
at Bank of America, N.A., Member FDIC
Up to $7,500 per statement cycle.
See offer page for more details
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
Branch access + overdraft grace period
Chase Business Complete Banking®
at Chase, Member FDIC
Waived with $2,000 minimum balance
Up to $5,000 per month.
Requirements to qualify
Pros
- No minimum opening deposit.
- Unlimited fee-free electronic transactions.
- Integrated credit card processing.
- No overdraft fee unless account is overdrawn by more than $50; 24-hour grace period applies to overdrafts beyond that amount.
- 24/7 customer support.
- No fees at 16,000 Chase ATMs and access to around 4,700 branches.
Cons
- $15 monthly fee.
- Monthly limit on fee-free cash deposits ($5,000) and physical transactions (20).
- Fee for using out-of-network ATMs.
- Limit of $5,000 per month in free cash deposits.
Our pick for
Fee-free online banking
nbkc Business Account
at nbkc bank, Member FDIC
Unlimited
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions, no overdraft fees and free incoming domestic wires.
- Up to $12 in monthly refunds for ATM fees charged by other banks worldwide.
- Unlimited cash deposits via MoneyPass ATMs.
- Accept contactless payments via the NBKC app (iOS only). Fees apply.
Cons
- High fee ($45) for international wire transfers.
- Phone support only available during business hours.
- No third-party app integrations.
Our pick for
Free brick-and-mortar banking + welcome bonus
U.S. Bank Silver Business Checking
at U.S. Bank, Member FDIC
Up to $2,500 per month.
Requirements to qualify
Pros
- No monthly service fee for Silver Business Checking account.
- Welcome bonus for new customers (terms apply).
- No fees at 4,700 U.S. Bank ATMs and access to 2,900 branches.
- No fees if account is overdrawn by $50 or less.
Cons
- Low cash deposit limits.
- Terms and fees are not easily accessible via the bank’s website.
- Limit of 125 fee-free transactions per month.
- $1 fee for outgoing domestic ACH transfers.
Our pick for
Cash-based businesses
Axos Bank® Basic Business Checking
at Axos Bank®, Member FDIC
Unlimited
Requirements to qualify
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions and free incoming wires.
- 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 savings account
Live Oak Bank Business Savings
at Live Oak Bank, Member FDIC
With $0.01 min. balance for APY
No cash deposits
Requirements to qualify
Pros
- Industry-leading APY.
- No minimum balance to earn interest.
- No monthly fee or minimum deposit.
- Access up to $10 million in FDIC insurance with Insured Cash Sweep.
Cons
- No ATM or debit card access.
- No weekend customer support.
Our pick for
Business money market account
nbkc bank Business Money Market Account
at nbkc bank, Member FDIC
With $0.01 min. balance for APY
Up to $2,500 per day via compatible ATMs.
Pros
- Earns 2.75% APY.
- No minimum balance to earn interest.
- No monthly fee or minimum opening deposit.
- Includes checks and an ATM card.
Cons
- High fee ($45) for international wire transfers.
- No weekend or after-hours customer support.
Our pick for
Freelancer-friendly tools
Found Small Business Banking
at Found, Deposits are FDIC Insured
$2 fee per deposit
Requirements to qualify
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions, no overdraft fees and free incoming domestic wires.
- Free, built-in invoicing, bookkeeping and tax-planning features.
- Integrates with popular business apps, including Stripe, Etsy and PayPal.
Cons
- Phone support only available during business hours.
- Have to open account in your name, not business name, and use your SSN to apply. (Business EIN can be added later.)
- No outgoing wires. Can’t pay by check.
- Cash deposits limited to $2,000 per week; $4,000 per month. A $2 service fee applies.
- No bill pay feature.
Best for: Everyday use. | Best for: Long-term savings. | Best for: Maximizing large cash reserves. | Best for: Building credit, earning rewards. | Best for: Accepting debit and credit card payments. |
What to keep in mind:
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- Monthly fees: Recurring fees eat into your bottom line so look for an account with no monthly fees, like a free business checking account or a high-yield savings account with no fees. If an account does carry a monthly fee, make sure you can reliably hit the minimum balance to have the fee waived or that the benefit of any added features outweighs the monthly cost.
- Transaction and deposit limits: Most accounts place some restrictions on transactions and deposits. Brick-and-mortar banks typically limit fee-free transactions — anywhere from 100 transactions to 500 per month for entry-level business accounts. Some banks only limit in-person transactions, while others cap all activity. Online banks rarely limit the number of transactions you can make, but most impose other limits, such as how much you can transfer or deposit each month. Read the fine print to understand what’s included and make sure those limits wont stifle your business activity.
- ATM access: Note the size and location of your bank’s ATM network before opening a business bank account. For savings accounts, also consider whether the account includes ATM access at all (many do not).
- Customer support: If you want to be able to talk to a banker face-to-face, open an account at a bank or credit union with branches close to your home or business. If you're OK with phone support, most online banks offer it — just make sure it's available on evenings and weekends if you work during those times.
- Incidental fees: Additional fees on your business account can add up fast. Check the schedule of fees for your account to understand what extra charges could apply. Common fees include stop payment, nonsufficient funds and overdrafts.
- Value-added features: Some business accounts offer tax-planning tools, which are great for sole proprietors and freelancers. Other accounts offer easy integration with business tools, like QuickBooks Online and Gusto, to streamline your business operations. And some business banks can help you network with investors and workshop your pitch deck, making them some of the best banks for startups.
