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Best Business Checking Accounts of March 2024

By Randa Kriss, Kelsey Sheehy
Last updated on February 2, 2024
Edited byRyan Lane
Fact checked and reviewed

⏰ Estimated read time: 5 minutes

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The best business checking accounts deliver perks like automatic ATM fee refunds, cash back on debit card purchases and interest earned on even the smallest balances, all for little to no monthly fee. Many small-business checking accounts also include tools to streamline invoicing and bookkeeping, making it easier to run — and grow — your business. Here are our picks for the best checking accounts for small businesses.
Why you can trust NerdWallet: We evaluated dozens of business checking accounts from national, regional and online banks, scoring them on fees, perks and accessibility, among other factors. Business accounts that earned at least four stars were eligible to be included in this list. All of our picks for the best business checking accounts are chosen by our editorial team, who follow strict editorial guidelines to ensure fairness and accuracy in our coverage.

Best Business Checking Accounts From Our Partners

Bank/institutionNerdWallet ratingMonthly feeAPYBonusLearn 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

Relay Business Checking

Learn more

at Relay, Deposits are FDIC Insured

4.7/5

Best for Multiple accounts

$0

N/A$0
Learn more

at Relay, Deposits are FDIC Insured

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

U.S. Bank Silver Business Checking

Learn more

at U.S. Bank, Member FDIC

4.0/5

Best for Sign-up bonus

$0

N/A$800

Requirements to qualify

Learn more

at U.S. Bank, Member FDIC

Bank/institutionNerdWallet ratingMonthly feeAPYBonusLearn 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

Relay Business Checking

Learn more

at Relay, Deposits are FDIC Insured

4.7/5

Best for Multiple accounts

$0

N/A$0
Learn more

at Relay, Deposits are FDIC Insured

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

U.S. Bank Silver Business Checking

Learn more

at U.S. Bank, Member FDIC

4.0/5

Best for Sign-up bonus

$0

N/A$800

Requirements to qualify

Learn more

at U.S. Bank, Member FDIC

I'M INTERESTED IN:

Our pick for

High-yield business checking

Bluevine Business Checking

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

Fees vary by location.

Overdraft fees
$0
Bonus
$0

Our pick for

Multiple accounts

Relay Business Checking

Learn more

at Relay, Deposits are FDIC Insured

APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
Yes

Unlimited

Overdraft fees
$0
Bonus
$0

Our pick for

Branch access

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
$400

Requirements to qualify

Our pick for

Sign-up bonus

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
$800

Requirements to qualify

How to compare small-business checking accounts

When comparing small-business checking accounts, first determine what’s most important to your business — whether it’s cash deposits, branch access, low fees or something else — to narrow your options. Then dig into the details of each potential account, and ask yourself the following questions:

1. How much will you spend?

Free business checking accounts don’t charge monthly fees, but can still have incidental and excess deposit fees (more on those below). Read the fine print for any account you’re considering to get a clear picture of how much it might actually cost you.
Costs to weigh include:
  • Minimum opening deposit: Some business accounts require a minimum opening deposit, which can range from $0 to $100 (or more) depending on the account. 
  • ATM fees: Some small-business banks charge $2 to $3 if you use an ATM outside of the bank’s own ATM network. Those fees are on top of any charged by the third-party ATM owner. Other business banks partner with MoneyPass, Allpoint and other massive ATM networks, giving fee-free access to more than 40,000 ATMs nationwide. A handful of business banking accounts will automatically refund some or all of your ATM fees, including those charged by third-party ATM operators. That can be a big bonus for business owners who rely on ATM access.
  • Overdraft fees: Dipping into the red on your business checking account can cost anywhere from $10 to $39 in overdraft or non-sufficient funds fees. And some accounts will assess up to six overdraft charges per day if you have multiple items come through. A handful of business checking accounts, including Chase, Axos and Huntington, offer a grace period on overdrafts (up to a certain amount) to give businesses some wiggle room. 
Most banks publish their fees online, but it’s not always easy to find. When in doubt, ask a bank representative to see the full schedule of fees before opening an account. 

2. What limits does the account impose? 

Transaction limits and cash deposits limits are common with business checking accounts, especially those from traditional business banks. Review your banking history to ensure you won’t bump up against these limits and run into extra fees.
A cash deposit limit of $2,500 to $5,000 is typical for entry-level business accounts at brick-and-mortar banks (beyond that you'll likely pay a fee). And transaction limits can range from 100 to 500 per month. 
Online business checking accounts usually include unlimited fee-free transactions, but may impose other limits. Some online accounts have tight caps on how much you can deposit or transfer per day and per month. And cash deposits may not be available at all with an online business account, though several offer cash deposits for a fee via third parties like Green Dot.

3. How do you want to access your money?

There are a lot of ways to access the money in your business checking account: checks, ACH transfers, online bill pay, wire transfers, cash withdrawal (in person or via ATM). 
Traditional brick-and-mortar banks typically offer all of these options, but most charge extra for wire transfers and have limits on monthly transactions. And some neobanks don’t offer typical banking features, like checks or wire transfers.
If in-person banking or ATM access is at the top of your priority list, scan the bank’s branch and ATM network to ensure there are close and convenient options.

4. Does the account add value to your business?

A business checking account should do more than just hold your money. Look for an account that earns a high APY (several of our top picks earn 1% or more) or offers tools and features that make it easier to run your business.
A business checking account for freelancers or new businesses, for example, might have built-in accounting and tax planning tools. While a more established business may want an account that easily integrates with its existing business software and offers free, customized invoicing.

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.
Last updated on February 2, 2024

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.
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