Senior writer | Small business banking and credit cards, Paycheck Protection Program, consumer spending, and household finances
Kelsey Sheehy is a NerdWallet authority on small business. Her work has appeared in The New York Times, The Washington Post, Nasdaq and MarketWatch, among other publications. Kelsey has appeared on the <a href="https://www.today.com/video/christmas-in-july-sales-to-take-advantage-of-now-64075333536">"Today"</a> show, <a href="https://www.nbcnews.com/nightly-news/video/tax-code-changes-leave-many-americans-with-unhappy-returns-1440385091860">NBC News</a> and <a href="https://abcnews.go.com/WNT/video/cost-smartphones-reaching-time-high-54166111">"ABC World News Tonight"</a> and has been quoted by the Los Angeles Times, CNBC and American Banker, among other publications. Email: <a href="mailto:ksheehy@nerdwallet.com">ksheehy@nerdwallet.com</a>.
Senior writer | Small business banking and credit cards, Paycheck Protection Program, consumer spending, and household finances
Kelsey Sheehy is a NerdWallet authority on small business. Her work has appeared in The New York Times, The Washington Post, Nasdaq and MarketWatch, among other publications. Kelsey has appeared on the <a href="https://www.today.com/video/christmas-in-july-sales-to-take-advantage-of-now-64075333536">"Today"</a> show, <a href="https://www.nbcnews.com/nightly-news/video/tax-code-changes-leave-many-americans-with-unhappy-returns-1440385091860">NBC News</a> and <a href="https://abcnews.go.com/WNT/video/cost-smartphones-reaching-time-high-54166111">"ABC World News Tonight"</a> and has been quoted by the Los Angeles Times, CNBC and American Banker, among other publications. Email: <a href="mailto:ksheehy@nerdwallet.com">ksheehy@nerdwallet.com</a>.
Ryan Lane is an editor on the small-business team and a NerdWallet authority on student loans. He spent more than a decade as a writer and editor for student loan guarantor American Student Assistance and was a managing editor for publisher Cell Press. Ryan’s work has been featured by The Associated Press, USA Today and MarketWatch, and he previously co-authored the U.S. News & World Report Student Loan Ranger blog. Email: <a href="mailto:rlane@nerdwallet.com”">rlane@nerdwallet.com</a>.
Ryan Lane is an editor on the small-business team and a NerdWallet authority on student loans. He spent more than a decade as a writer and editor for student loan guarantor American Student Assistance and was a managing editor for publisher Cell Press. Ryan’s work has been featured by The Associated Press, USA Today and MarketWatch, and he previously co-authored the U.S. News & World Report Student Loan Ranger blog. Email: <a href="mailto:rlane@nerdwallet.com”">rlane@nerdwallet.com</a>.
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NerdWallet's business banking content — including our ratings, reviews and recommendations — is produced by a team of writers and editors who specialize in small-business finances. Their journalism has appeared in The Associated Press, Washington Post, MarketWatch, Nasdaq, Entrepreneur, ABC News, MSN and other national and local media outlets. Each writer and editor follows NerdWallet's strict editorial guidelines to ensure fairness and accuracy in our coverage.
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Senior writer | Small business banking and credit cards, Paycheck Protection Program, consumer spending, and household finances
Kelsey Sheehy is a NerdWallet authority on small business. Her work has appeared in The New York Times, The Washington Post, Nasdaq and MarketWatch, among other publications. Kelsey has appeared on the <a href="https://www.today.com/video/christmas-in-july-sales-to-take-advantage-of-now-64075333536">"Today"</a> show, <a href="https://www.nbcnews.com/nightly-news/video/tax-code-changes-leave-many-americans-with-unhappy-returns-1440385091860">NBC News</a> and <a href="https://abcnews.go.com/WNT/video/cost-smartphones-reaching-time-high-54166111">"ABC World News Tonight"</a> and has been quoted by the Los Angeles Times, CNBC and American Banker, among other publications. Email: <a href="mailto:ksheehy@nerdwallet.com">ksheehy@nerdwallet.com</a>.
Senior writer | Small business banking and credit cards, Paycheck Protection Program, consumer spending, and household finances
Kelsey Sheehy is a NerdWallet authority on small business. Her work has appeared in The New York Times, The Washington Post, Nasdaq and MarketWatch, among other publications. Kelsey has appeared on the <a href="https://www.today.com/video/christmas-in-july-sales-to-take-advantage-of-now-64075333536">"Today"</a> show, <a href="https://www.nbcnews.com/nightly-news/video/tax-code-changes-leave-many-americans-with-unhappy-returns-1440385091860">NBC News</a> and <a href="https://abcnews.go.com/WNT/video/cost-smartphones-reaching-time-high-54166111">"ABC World News Tonight"</a> and has been quoted by the Los Angeles Times, CNBC and American Banker, among other publications. Email: <a href="mailto:ksheehy@nerdwallet.com">ksheehy@nerdwallet.com</a>.
Ryan Lane is an editor on the small-business team and a NerdWallet authority on student loans. He spent more than a decade as a writer and editor for student loan guarantor American Student Assistance and was a managing editor for publisher Cell Press. Ryan’s work has been featured by The Associated Press, USA Today and MarketWatch, and he previously co-authored the U.S. News & World Report Student Loan Ranger blog. Email: <a href="mailto:rlane@nerdwallet.com”">rlane@nerdwallet.com</a>.
Ryan Lane is an editor on the small-business team and a NerdWallet authority on student loans. He spent more than a decade as a writer and editor for student loan guarantor American Student Assistance and was a managing editor for publisher Cell Press. Ryan’s work has been featured by The Associated Press, USA Today and MarketWatch, and he previously co-authored the U.S. News & World Report Student Loan Ranger blog. Email: <a href="mailto:rlane@nerdwallet.com”">rlane@nerdwallet.com</a>.
NerdWallet's content is
fact-checked for accuracy, timeliness, and relevance by humans.
It undergoes a thorough review process involving writers and editors to ensure
the information is as clear and complete as possible. Learn more by checking
our
Editorial Guidelines.
Content was accurate at the time of publication.
Why trust NerdWallet
250+ small-business products reviewed and rated by our team of experts.
80+ years of combined experience covering small-business and personal finance.
60+ business bank accounts rated with our objective, comprehensive business bank account rubrics (Methodology).
NerdWallet's business banking content — including our ratings, reviews and recommendations — is produced by a team of writers and editors who specialize in small-business finances. Their journalism has appeared in The Associated Press, Washington Post, MarketWatch, Nasdaq, Entrepreneur, ABC News, MSN and other national and local media outlets. Each writer and editor follows NerdWallet's strict editorial guidelines to ensure fairness and accuracy in our coverage.
Advertiser disclosure
You’re our first priority.
Every time.
We believe everyone should be able to make financial decisions with
confidence. And while our site doesn’t feature every company or
financial product available on the market, we’re proud that the guidance
we offer, the information we provide and the tools we create are
objective, independent, straightforward — and free.
So how do we make money? Our partners compensate us. This may influence
which products we review and write about (and where those products
appear on the site), but it in no way affects our recommendations or
advice, which are grounded in thousands of hours of research. Our
partners cannot pay us to guarantee favorable reviews of their products
or services. Here is a list of our partners .
Because sole proprietorships are almost always a one-person show, their owners need a small-business bank that offers efficiency and affordability. Below are the best business checking accounts for sole proprietorships (plus a business savings account for your reserves).
Show summary
Summary of the best business bank accounts for sole proprietors
American Express® Business Checking : Best for 24/7 customer support.
Bluevine Business Checking : Best overall account for sole proprietors.
Chase Business Complete Banking® : Best for brick-and-mortar banking.
Found Small Business Banking : Best for tax planning and invoicing tools.
Grasshopper Innovator Business Checking Account : Best for cash-back rewards on debit card spending.
Live Oak Bank Business Essential Checking : Best for establishing a relationship with a top SBA lender.
Axos Business Premium Savings Account : Best dedicated business savings account.
nbkc Business Account : Best for taking in-person payments.
U.S. Bank Business Essentials : Best sign-up bonus.
Why trust NerdWallet
250+ small-business products reviewed and rated by our team of experts.
80+ years of combined experience covering small-business and personal finance.
60+ business bank accounts rated with our objective, comprehensive business bank account rubrics (Methodology).
NerdWallet's business banking content — including our ratings, reviews and recommendations — is produced by a team of writers and editors who specialize in small-business finances. Their journalism has appeared in The Associated Press, Washington Post, MarketWatch, Nasdaq, Entrepreneur, ABC News, MSN and other national and local media outlets. Each writer and editor follows NerdWallet's strict editorial guidelines to ensure fairness and accuracy in our coverage.
Unlimited fee-free transactions; no overdraft fees.
Earn 1.30% 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 MoneyPass ATMs.
Account holders are assigned to a dedicated banker or customer support representative.
Bill pay tools and invoicing with built-in payment links.
Cons
No fee-free cash deposits.
Fee for using out-of-network ATMs.
Does not offer jointly-owned accounts.
Bluevine’s free business checking account boasts a competitive APY: Earn 1.30% interest on account balances up to and including $250,000. Terms apply. The account can easily sync with popular accounting software, including QuickBooks Online, Wave and FreshBooks, to streamline your bookkeeping. Just beware: Bluevine's cash deposit fees are higher than some competitors and the limits may be restrictive.
Unlimited fee-free transactions; no overdraft fees.
Earn 1.30% 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 MoneyPass ATMs.
Account holders are assigned to a dedicated banker or customer support representative.
Bill pay tools and invoicing with built-in payment links.
Cons
No fee-free cash deposits.
Fee for using out-of-network ATMs.
Does not offer jointly-owned accounts.
Bluevine’s free business checking account boasts a competitive APY: Earn 1.30% interest on account balances up to and including $250,000. Terms apply. The account can easily sync with popular accounting software, including QuickBooks Online, Wave and FreshBooks, to streamline your bookkeeping. Just beware: Bluevine's cash deposit fees are higher than some competitors and the limits may be restrictive.
No excess transaction fees and no charge for domestic incoming wires.
Earn 1.30% APY on balances up to $500,000.
24/7 customer support.
No fees on withdrawals at more than 70,000 MoneyPass and Allpoint ATMs in the U.S.
Cons
Can’t deposit cash.
No outgoing international wire transfers.
Does not offer jointly owned accounts.
American Express offers a compelling online business checking account with 24/7 customer support, no monthly fees or transaction limits and a competitive APY on balances up to $500,000. The major drawback: No cash deposits.
No excess transaction fees and no charge for domestic incoming wires.
Earn 1.30% APY on balances up to $500,000.
24/7 customer support.
No fees on withdrawals at more than 70,000 MoneyPass and Allpoint ATMs in the U.S.
Cons
Can’t deposit cash.
No outgoing international wire transfers.
Does not offer jointly owned accounts.
American Express offers a compelling online business checking account with 24/7 customer support, no monthly fees or transaction limits and a competitive APY on balances up to $500,000. The major drawback: No cash deposits.
Unlimited 1% cash back on qualified debit card purchases.
Earn up to 1.55% APY.
No monthly fees, transaction fees or overdraft charges.
Free, built-in bookkeeping and invoicing software.
Free incoming domestic wires; low fees on other wire transfers.
Cons
Can’t deposit cash.
$100 minimum opening deposit.
No weekend support.
Sole proprietors can get a lot of value out of Grasshopper’s free online business account. For starters, the account earns up to 1.55% APY, depending on your balance. Plus, you can earn unlimited 1% cash back on qualified debit card purchases. Built-in bookkeeping, invoicing and cash management tools sweeten the pot for solo business owners.
Unlimited 1% cash back on qualified debit card purchases.
Earn up to 1.55% APY.
No monthly fees, transaction fees or overdraft charges.
Free, built-in bookkeeping and invoicing software.
Free incoming domestic wires; low fees on other wire transfers.
Cons
Can’t deposit cash.
$100 minimum opening deposit.
No weekend support.
Sole proprietors can get a lot of value out of Grasshopper’s free online business account. For starters, the account earns up to 1.55% APY, depending on your balance. Plus, you can earn unlimited 1% cash back on qualified debit card purchases. Built-in bookkeeping, invoicing and cash management tools sweeten the pot for solo business owners.
Access to Insured Cash Sweep network for expanded FDIC insurance.
Cons
Fee for excess transactions.
No ATM or debit card access.
Simply looking for a place to park your business's earnings? Consider a dedicated business savings account like this one from Axos. You won't get features like check writing or debit card access, but the interest rate on this free account is top notch.
Access to Insured Cash Sweep network for expanded FDIC insurance.
Cons
Fee for excess transactions.
No ATM or debit card access.
Simply looking for a place to park your business's earnings? Consider a dedicated business savings account like this one from Axos. You won't get features like check writing or debit card access, but the interest rate on this free account is top notch.
Unlimited fee-free electronic and debit card 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 15,400 Chase ATMs and access to around 4,900 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.
This brick-and-mortar business bank has one of the largest branch networks in the country, perfect for business owners who prefer to bank in person. But Chase Business Complete Banking also delivers convenient online banking and a highly rated mobile app that includes QuickAccept, a built-in payment-processing tool that allows you to accept credit card payments right from the app (associated processing fees apply). This account does have a monthly fee, though, and in-person transactions are capped at 20 per month.
Unlimited fee-free electronic and debit card 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 15,400 Chase ATMs and access to around 4,900 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.
This brick-and-mortar business bank has one of the largest branch networks in the country, perfect for business owners who prefer to bank in person. But Chase Business Complete Banking also delivers convenient online banking and a highly rated mobile app that includes QuickAccept, a built-in payment-processing tool that allows you to accept credit card payments right from the app (associated processing fees apply). This account does have a monthly fee, though, and in-person transactions are capped at 20 per month.
No required monthly fee or minimum opening deposit.
No excess transaction fees or overdraft fees; free incoming domestic wires.
Free, built-in invoicing, bookkeeping and tax-planning features.
Integrates with popular business and gig work apps, including Stripe, DoorDash, Uber, Etsy and PayPal.
Account holders are assigned to a dedicated banker or customer support representative.
Built-in payroll features for contractors.
Cons
No weekend or after-hours phone support.
Not available to partnerships or nonprofit organizations.
No fee-free cash deposits.
Found’s free business checking account offers direct integration with Etsy, Stripe and Square, as well as popular payment apps and gig apps, allowing for quick access to payments. Other standout features include built-in bookkeeping, unlimited invoicing, and tax-planning tools to estimate and save for your business taxes. Found’s business account does lack some important features, though — you can’t deposit checks or write checks from your account, for example.
No required monthly fee or minimum opening deposit.
No excess transaction fees or overdraft fees; free incoming domestic wires.
Free, built-in invoicing, bookkeeping and tax-planning features.
Integrates with popular business and gig work apps, including Stripe, DoorDash, Uber, Etsy and PayPal.
Account holders are assigned to a dedicated banker or customer support representative.
Built-in payroll features for contractors.
Cons
No weekend or after-hours phone support.
Not available to partnerships or nonprofit organizations.
No fee-free cash deposits.
Found’s free business checking account offers direct integration with Etsy, Stripe and Square, as well as popular payment apps and gig apps, allowing for quick access to payments. Other standout features include built-in bookkeeping, unlimited invoicing, and tax-planning tools to estimate and save for your business taxes. Found’s business account does lack some important features, though — you can’t deposit checks or write checks from your account, for example.
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 and Allpoint ATMs.
Accept contactless payments via the NBKC app (iOS only). Fees apply.
Unlimited debit cards.
Cons
High fee ($45) for international wire transfers.
Phone support only available during business hours.
No third-party app integrations.
NBKC’s business checking account offers no-frills, no-fees online business banking. Plus, NBKC customers who use iPhones can accept tap-to-pay payments from competitors' credit cards, debit cards and mobile wallets at competitive payment processing rates. And this free account offers unlimited fee-free cash deposits via compatible MoneyPass and Allpoint ATMs.
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 and Allpoint ATMs.
Accept contactless payments via the NBKC app (iOS only). Fees apply.
Unlimited debit cards.
Cons
High fee ($45) for international wire transfers.
Phone support only available during business hours.
No third-party app integrations.
NBKC’s business checking account offers no-frills, no-fees online business banking. Plus, NBKC customers who use iPhones can accept tap-to-pay payments from competitors' credit cards, debit cards and mobile wallets at competitive payment processing rates. And this free account offers unlimited fee-free cash deposits via compatible MoneyPass and Allpoint ATMs.
Unlimited fee-free transactions; no overdraft fees.
Up to $10 in monthly refunds for ATM fees charged by other banks.
APY of 0.50% with an average daily balance of $10,000 or more.
Cons
No cash deposits.
$15 fee for incoming wires.
First Internet Bank offers the online banking basics: Unlimited fee-free transactions, no minimum opening deposit and ATM withdrawals with $10/month in fee refunds (no cash deposits, though). The account is most valuable to business owners who want to automatically transfer funds to the institution's excellent Business Money Market Savings account, however — you can transfer all funds over a certain amount to that account, where they'll earn 3.46% APY.
Unlimited fee-free transactions; no overdraft fees.
Up to $10 in monthly refunds for ATM fees charged by other banks.
APY of 0.50% with an average daily balance of $10,000 or more.
Cons
No cash deposits.
$15 fee for incoming wires.
First Internet Bank offers the online banking basics: Unlimited fee-free transactions, no minimum opening deposit and ATM withdrawals with $10/month in fee refunds (no cash deposits, though). The account is most valuable to business owners who want to automatically transfer funds to the institution's excellent Business Money Market Savings account, however — you can transfer all funds over a certain amount to that account, where they'll earn 3.46% APY.
Financial institutions typically don't limit business accounts to incorporated companies or restrict access based on factors like revenue or time in business. That means that sole proprietors can — and should — open a business bank account. You can often open an account online or in person easily with the right documentation.
How to open a business checking account as a sole proprietor
Business name registration certificate or “doing business as” documentation.
Employer identification number (EIN) if you have one. Otherwise, your Social Security number.
Company details: industry and business type, when it was formed, and your business address and phone number.
You’ll also need to provide some personal information, including your date of birth, home address and phone number, and personal email address.
Do sole proprietors need business bank accounts?
A dedicated business bank account can help sole proprietors separate business and personal finances. This makes it easier to track business income and expenses, file taxes, and apply for business loans and grants.
If your business is more of a side hustle than a full-time operation, you may technically be able to use your personal checking account for business purposes (check your deposit agreement, though, as some banks prohibit this). But even then, using a dedicated business checking account can save you headaches come tax time and put you one step ahead if and when your business grows.
What sole proprietors should look for in a business account
Sole proprietors wear so many hats when running their business: CEO, social media manager, accountant, inventory specialist, tax preparer, tech support and more. Aim for a business account with features that let you take off at least one of those hats, even for a little while.
Ease of access: The account you choose should be easily accessible, meaning there aren’t strict limits on transfers or deposits or high fees for activities that are routine for your business (if you do lots of wire transfers, for instance, or make frequent cash deposits). Take note of customer service hours, too. Some online business accounts rely primarily on email for customer support. That might work for some businesses but be a deal-breaker for others.
Sub-accounts: Set funds aside for quarterly tax payments or upcoming expenses with dedicated sub-accounts, “envelopes” or savings buckets. Using these tools can make it easier to keep an eye on your business’s overall financial health — and in some cases, continue earning interest on your idle cash.
Interest or cash back: Another way to put your business account to work for you? Have it earn you extra money with features like a high interest rate on your balance or cash back on debit card purchases.
Tax planning: Several online business accounts include tax-planning tools that automatically categorize expenses, identify potential deductions and help calculate what you need to save for self-employment taxes. A few will even generate the necessary tax documents. You may also want to look for built-in bookkeeping software, like Autobooks, or direct integrations with your existing accounting software.
Invoicing: A business account that includes free invoicing can cut down on the time it takes to get paid — that’s a real win for client services businesses. Make sure the account doesn’t limit the number of invoices you can send and that they can be customized with your logo.
Note on American Express® Business Checking : At Allpoint® and MoneyPass® locations in the U.S., you can withdraw cash and get balance information with no fee. Access to ATMs outside of the Allpoint® and MoneyPass® networks are subject to fees by the ATM owner and/or network. ATM withdrawal limits apply. American Express applies foreign exchange fees to withdrawals in foreign currencies. American Express does not accept ATM cash deposits into your Business Checking account at this time. Visit americanexpress.com/atm-locator to find participating ATMs in the U.S.
Found is a financial technology company, not a bank. Banking services are provided by Lead Bank, Member FDIC.
Last updated on September 18, 2025
Methodology
NerdWallet evaluates more than 50 business bank accounts from national, regional and online banks. Collectively, these accounts represent the largest banks by assets and the largest credit unions by membership, along with notable and emerging fintech companies and online banks.
We consider more than 20 data points for each account, including services, fees, features and rewards. We gather this information from rates and fees documents, deposit account agreements, financial institution websites and company representatives.
Our editorial team regularly reviews and updates our data to ensure consistency and accuracy. We also update our scoring on an ongoing basis to reflect changing industry norms and business owner needs. For instance, in 2025, we introduced bonus points for notable built-in software features, like the ability to accept tap-to-pay payments from customers using a mobile app.
Final star ratings are presented on a scale of one to five stars, where a five-star score represents the best available product for the largest number of business owners. Learn more about how we rate business checking accounts.