Best Business Bank Accounts
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 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 | 4.5/5 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 |
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 | $15.00 Waived with $2,000 minimum balance | N/A | $400 Requirements to qualify | Learn more at Chase, Member FDIC |
nbkc Business Account Learn more at nbkc bank, Member FDIC | 4.9/5 Best for Online business bank accounts + Cash deposits + No fees | $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 Branch access | $0 | N/A | $800 Requirements to qualify | Learn more at U.S. Bank, Member FDIC |
Relay Business Checking Learn more at Relay, Deposits are FDIC Insured | 4.7/5 Best for Cash deposits + No fees | $0 | N/A | $0 | Learn more at Relay, Deposits are FDIC Insured |
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 |
LendingClub Tailored Checking Learn more at LendingClub Bank, Member FDIC | 4.9/5 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 |
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 |
Wells Fargo Initiate Business Checking℠ Account | 4.0/5 Best for Branch access | $10.00 Waived with $500 minimum balance | N/A | $0 | |
nbkc bank Business Money Market Account Learn more at nbkc bank, Member FDIC | 4.5/5 Best for Earning interest | $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 No fees | $0 | N/A | $20 Requirements to qualify | Learn more at Found, Deposits are FDIC Insured |
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 |
Mercury Business Bank Account Learn more at Mercury, Deposits are FDIC Insured | 4.1/5 Best for No fees | $0 | N/A | $0 | Learn more at Mercury, Deposits are FDIC Insured |
First Internet Bank Business Money Market Savings | 4.0/5 Best for Earning interest | $5.00 Waived with $4,000 minimum balance | 3.46% With $0 min. balance for APY | $0 | |
Navy Federal Credit Union Business Checking | 4.2/5 Best for Cash deposits | $0 | 0.01% With $0 min. balance for APY | $0 | |
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 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 | 4.5/5 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 |
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 | $15.00 Waived with $2,000 minimum balance | N/A | $400 Requirements to qualify | Learn more at Chase, Member FDIC |
nbkc Business Account Learn more at nbkc bank, Member FDIC | 4.9/5 Best for Online business bank accounts + Cash deposits + No fees | $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 Branch access | $0 | N/A | $800 Requirements to qualify | Learn more at U.S. Bank, Member FDIC |
Relay Business Checking Learn more at Relay, Deposits are FDIC Insured | 4.7/5 Best for Cash deposits + No fees | $0 | N/A | $0 | Learn more at Relay, Deposits are FDIC Insured |
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 |
LendingClub Tailored Checking Learn more at LendingClub Bank, Member FDIC | 4.9/5 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 |
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 |
Wells Fargo Initiate Business Checking℠ Account | 4.0/5 Best for Branch access | $10.00 Waived with $500 minimum balance | N/A | $0 | |
nbkc bank Business Money Market Account Learn more at nbkc bank, Member FDIC | 4.5/5 Best for Earning interest | $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 No fees | $0 | N/A | $20 Requirements to qualify | Learn more at Found, Deposits are FDIC Insured |
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 |
Mercury Business Bank Account Learn more at Mercury, Deposits are FDIC Insured | 4.1/5 Best for No fees | $0 | N/A | $0 | Learn more at Mercury, Deposits are FDIC Insured |
First Internet Bank Business Money Market Savings | 4.0/5 Best for Earning interest | $5.00 Waived with $4,000 minimum balance | 3.46% With $0 min. balance for APY | $0 | |
Navy Federal Credit Union Business Checking | 4.2/5 Best for Cash deposits | $0 | 0.01% With $0 min. balance for APY | $0 |
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Our picks for
Online business bank accounts
Bank from anywhere with a fully online business checking account.
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.
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.
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.
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.
LendingClub Tailored Checking
at LendingClub Bank, Member FDIC
With $0 min. balance for APY
Waived with $500 minimum balance
Unlimited
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.
- Limits of $10,000 on both incoming and outgoing ACH transfers.
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.
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.
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.
- 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.
- 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.
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.
Wells Fargo Initiate Business Checking℠ Account
Waived with $500 minimum balance
Up to $5,000.
Pros
- Phone customer support available until 11 p.m. ET on weekdays and on Saturdays and Sundays.
- No fees at Wells Fargo ATMs and access to around 4,900 branch locations.
Cons
- No free business checking account option.
- Limit of 100 fee-free transactions per month.
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.
Relay Business Checking
at Relay, Deposits are FDIC Insured
Unlimited
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions; no overdraft fees.
- Cash deposits via compatible AllPoint ATMs.
- Automatic transfers to high-yield business savings earning up to 3.00% APY.
- No foreign transaction fees when you use your Relay Mastercard abroad.
- Free incoming wires and low outgoing wire transfer fees.
Cons
- Phone support only available during business hours.
- Deposited checks are held for up to 6-7 business days.
- No bill pay feature in the free plan.
LendingClub Tailored Checking
at LendingClub Bank, Member FDIC
With $0 min. balance for APY
Waived with $500 minimum balance
Unlimited
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.
- Limits of $10,000 on both incoming and outgoing ACH transfers.
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.
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.
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.
Navy Federal Credit Union Business Checking
With $0 min. balance for APY
Unlimited
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 (0.47% APY, as of this writing, according to the Federal Deposit Insurance Corp.)
Live Oak Bank Business Savings
at Live Oak Bank, Member FDIC
With $0.01 min. balance for APY
No cash deposits
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.
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.
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.
LendingClub Tailored Checking
at LendingClub Bank, Member FDIC
With $0 min. balance for APY
Waived with $500 minimum balance
Unlimited
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.
- Limits of $10,000 on both incoming and outgoing ACH transfers.
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.
Relay Business Savings
at Relay, Deposits are FDIC Insured
With $1 min. balance for APY
No cash deposits
Pros
- No monthly fee or minimum opening deposit.
- No minimum balance to earn interest.
- Earns 1.00%-3.00% APY.
Cons
- Tiered interest structure.
- Balance of $1 million needed to unlock the highest rate.
- No ATM or debit card access.
- Only allows internal transfers to a linked Relay Checking account.
First Internet Bank Business Money Market Savings
With $0 min. balance for APY
Waived with $4,000 minimum balance
No cash deposits
Pros
- High APY.
- No minimum balance to earn interest.
- ATM card access (sole proprietors only).
Cons
- Monthly fee.
- Minimum opening deposit ($100).
Our picks for
No fees
These business accounts take free to the next level, with no monthly fees, overdraft fees, transaction fees or ATM fees.
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.
Relay Business Checking
at Relay, Deposits are FDIC Insured
Unlimited
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions; no overdraft fees.
- Cash deposits via compatible AllPoint ATMs.
- Automatic transfers to high-yield business savings earning up to 3.00% APY.
- No foreign transaction fees when you use your Relay Mastercard abroad.
- Free incoming wires and low outgoing wire transfer fees.
Cons
- Phone support only available during business hours.
- Deposited checks are held for up to 6-7 business days.
- No bill pay feature in the free plan.
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.
Mercury Business Bank Account
at Mercury, Deposits are FDIC Insured
No cash deposits.
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions; no overdraft fees.
- Free domestic and international wire transfers.
- Advanced digital tools including API access to automate and customize your banking.
Cons
- Can’t deposit cash.
- Mercury is not part of a fee-free ATM network.
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:
| What to keep in mind:
| What to keep in mind:
| What to keep in mind:
| 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.