Best Business Checking Accounts of December 2023

at Bluevine, Deposits are FDIC Insured

APY

2.00%

With $0 min. balance for APY

Monthly fee

Min. opening deposit

Free cash deposits

Fee of up to $4.95 per cash deposit.

Overdraft fees

Bonus

The Bluevine Business Checking account earns

2.00%

interest on your account balance up to and including $250,000. This free online business checking account also includes unlimited transactions and free ATM access through the MoneyPass network.

The downsides: Cash deposits (via Green Dot) are capped a $500 per deposit and $2,000 per day. Each deposit carries a fee of up to $4.95.

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.

Cons

Cash deposits limited to $500 per deposit, $2,000 per day. Service fee of up to $4.95 per deposit.
Fee for using out-of-network ATMs.
No joint accounts or employee debit cards.

Our pick for

Multiple accounts

Relay Business Checking

5.0

at Relay, Deposits are FDIC Insured

APY

N/A

Monthly fee

Min. opening deposit

Free cash deposits

Yes

Unlimited

Overdraft fees

Bonus

Relay’s free online business checking account comes with several features that benefit midsize businesses and rapidly growing startups, including the option to open multiple accounts (up to 20; 10 for sole proprietorships) and the ability to invite team members, assign roles and permissions, and set spending limits.

Relay has no monthly fees, includes unlimited fee-free transactions and free incoming wires, and allows for direct integrations with QuickBooks Online and Xero.

The downside: There's a long hold time for deposited checks (six to seven business days).

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.

Cons

Limited phone support. Email support available seven days a week.
Deposited checks are held for up to 6-7 business days.

Our pick for

Cash deposits (brick-and-mortar)

Bank of America Business Advantage Fundamentals™ Banking

5.0

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

This account has a high cash deposit allowance for a brick-and-mortar bank and offers fee-free electronic transactions. Plus, you can open an account entirely online.

The downsides: There is a $16 monthly fee (though there are multiple ways to waive it), and you'll pay to use non-Bank of America ATMs.

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

1% cash back on debit card purchases

Grasshopper Business Checking Account

5.0

at Grasshopper Bank, Member FDIC

APY

2.25%

With $0 min. balance for APY

Monthly fee

Min. opening deposit

$100

Free cash deposits

No cash deposits.

Overdraft fees

Bonus

Grasshopper bank’s business checking account pays you two ways: You can earn unlimited 1% cash back on qualified purchases and up to

2.25%

APY on the balance in your account. You also get free, built-in access to Autobooks, as well as business tools like invoicing and cash management.

Grasshopper's business account has no monthly fees or overdraft charges and fee-free access to more than 45,000 ATMs via the MoneyPass and SUM networks (third-party fees may apply outside of these networks).

The downsides: You can't deposit cash and the account requires a $100 minimum opening deposit.

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

Early access to payments

Lili Basic Business Checking

4.5

at Lili, Deposits are FDIC Insured

APY

N/A

Monthly fee

Min. opening deposit

Free cash deposits

Fee of up to $4.95 per cash deposit.

Overdraft fees

Bonus

Lili Basic Business Checking is an online business account with no monthly fees or minimum opening deposit. While the lack of fees is a plus, early access to payments is what makes Lili stand out, especially for freelancers and independent contractors. If you do business via Uber, Lyft or Shopify, you can connect your account with Lili to receive funds up to two days faster.

The downsides: Lili removed some of its most compelling features from Lili Basic. You now have to upgrade to a paid account to access tax-planning tools, invoicing and expense reports. You also can't send wire transfers from your Lili business account. Cash deposits and mobile check deposits also come with some limits.

Pros

No monthly fees or transaction fees.
No fees at MoneyPass ATMs.
Cash deposits via Green Dot network (fees and limits apply).
Early payment feature allows you to receive funds up to two days sooner than with a traditional bank account.

Cons

Fee for using out-of-network ATMs.
Cash deposits limited to $1,000 per day, $9,000 per month. Service fee of up to $4.95 per deposit.
No checkbooks; can’t send wire transfers.

Our pick for

Branch access

Chase Business Complete Banking℠

5.0

at Chase, Member FDIC

APY

N/A

Monthly fee

$15.00

Waived with $2,000 minimum balance

Min. opening deposit

Free cash deposits

Yes

Up to $5,000 per month.

Overdraft fees

$34

Bonus

$300

Requirements to qualify

Chase Business Complete Checking customers get the best of both worlds: top-notch digital tools, including the ability to accept credit card payments via QuickAccept℠ using the Chase mobile app (associated processing fees apply), alongside one of the largest branch networks in the country.

Chase Business Complete Checking includes unlimited electronic deposits and access to thousands of ATM and branch locations nationwide. Plus, there is a welcome bonus for new customers. Terms apply.

The downsides: The account has a $15 monthly maintenance fee (multiple ways to waive) and caps in-person transactions at 20 per month.

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.

Cons

$15 monthly fee.
Monthly limit on fee-free cash deposits ($5,000) and physical transactions (20).
Fee for using out-of-network ATMs.

Our pick for

Freelancers and gig workers

Found Small Business Banking

5.0

at Found, Deposits are FDIC Insured

APY

N/A

Monthly fee

Min. opening deposit

Free cash deposits

No cash deposits.

Overdraft fees

Bonus

$20

Requirements to qualify

Found business checking is a great starter kit for gig workers and independent contractors looking to level up their side hustle. The account offers direct integration with popular business apps, including Etsy, PayPal, Uber, Lyft and Instacart, as well as built-in bookkeeping, invoicing and tax-planning tools. Plus, this free business checking account has no monthly fees, overdraft fees or minimum opening deposit.

The downsides: Limits on deposits and transfers can be low and you can't send wire transfers.

Pros

No monthly fees or minimum opening deposit.
Unlimited fee-free transactions; no overdraft fees.
Free, built-in invoicing, bookkeeping and tax-planning features.
Integrates with popular business apps, including Stripe, Etsy and PayPal.

Cons

Weekend and after-hours support via email only.
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 $1,000 per week; $4,000 per month. A $2 service fee applies.

Our pick for

Cash deposits

Axos Bank® Basic Business Checking

5.0

at Axos Bank®, Member FDIC

APY

N/A

Monthly fee

Min. opening deposit

Free cash deposits

Yes

Unlimited

Overdraft fees

$25

Bonus

$400

Requirements to qualify

Axos Bank’s Basic Business Checking account includes free, unlimited cash deposits via compatible AllPoint and MoneyPass ATMs — a feature matched by few other business checking accounts.

The free online business account has no monthly fee or minimum opening deposit requirement, delivers 24/7 customer support and offers free nationwide ATM access with unlimited refunds for fees charged by other banks and ATM operators in the U.S.

The downside: Unlike some other online business accounts, Axos does charge for overdrafts and returned payments.

Pros

No monthly fees or minimum opening deposit.
Unlimited fee-free transactions.
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

Sign-up bonus

U.S. Bank Silver Business Checking

4.0

at U.S. Bank, Member FDIC

APY

N/A

Monthly fee

Min. opening deposit

$100

Free cash deposits

Yes

Up to $2,500 per month.

Overdraft fees

$36

Bonus

$800

Requirements to qualify

A free business checking account from a big brick-and-mortar bank is rare on its own. But U.S. Bank's Silver Business Checking Account ups the ante with a whopper of a welcome offer: Earn up to $

800

when you open a new, eligible U.S. Bank business checking account online with promo code Q2AFL23 and complete qualifying activities, subject to certain terms and limitations.

The downside: Silver Business Checking has a stingy transaction limit (125 free transactions per statement cycle), especially when compared with similar accounts from competitors. Though most of those accounts carry a monthly fee.

Pros

No monthly service fee for Silver Business Checking account.
Business accounts can be opened entirely online.
Optional payment processing services ranging from mobile apps to in-store payment terminals. Additional fees apply.
Welcome bonus for new customers (terms apply).

Cons

Low cash deposit limits.
Terms and fees are not easily accessible via the bank’s website.

Our pick for

Cash back

LendingClub Tailored Checking

5.0

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

Bonus

LendingClub Tailored Checking pays you back in two ways: You get unlimited 1% cash back on qualifying debit card purchases (terms apply) and earn

1.50%

APY on balances up to $100,000 and 0.10% APY on all balances after that.

LendingClub Tailored Checking also offers unlimited transactions, fee-free ATM access (with the ability to deposit cash) and unlimited reimbursements for ATM fees charged by other banks.

The downside: This account requires a $100 minimum opening deposit and has a $10 monthly maintenance fee (waived with a minimum balance of $500).

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.

Our pick for

Refunds on third-party ATM fees

Novo Business Checking

4.5

at Novo, Deposits are FDIC Insured

APY

N/A

Monthly fee

Min. opening deposit

Free cash deposits

No cash deposits.

Overdraft fees

Bonus

The Novo business checking account includes unlimited fee-free transactions and refunds on all ATM fees worldwide, all while charging no monthly fees, ACH fees or incoming wire fees.

Novo also includes unlimited invoicing and bill pay, as well as integrations with top business tools like QuickBooks, Xero, Stripe and Shopify.

The downside: You cannot deposit cash with this business bank account.

Pros

No monthly fees or minimum opening deposit.
Unlimited fee-free transactions.
Refunds on all ATM fees worldwide.
Integrates with top business tools, including Xero, Stripe and Shopify.

Cons

Can’t deposit cash.
Can’t send domestic or international wires.
No recurring payments available with bill pay.
No customer support by phone.

Our pick for

No-fee business checking account

nbkc Business Account

5.0

at nbkc bank, Member FDIC

APY

N/A

Monthly fee

Min. opening deposit

Free cash deposits

Yes

Unlimited

Overdraft fees

Bonus

NBKC’s Business Account is a free business checking account with no monthly fees, no minimum balance requirement and no opening deposit requirement. This account includes unlimited transactions, fee-free ATM access through the MoneyPass network (with the ability to deposit cash) and up to $12 in monthly refunds for ATM fees charged by other banks worldwide.

Additionally, there are no incoming domestic wire fees, overdraft, stop payment, or other similar incidental fees with the NBKC business checking account. You’ll only face fees for outgoing domestic wires ($5) and incoming and outgoing international wires ($45).

The downside: NBKC doesn’t offer direct integration with any invoicing or bookkeeping tools, a common feature among online business checking accounts. You can add on Autobooks for $10 per month.

Pros

No monthly fees or minimum opening deposit.
Unlimited fee-free transactions; no overdraft or incidental fees.
Up to $12 in monthly refunds for ATM fees charged by other banks worldwide.
Cash deposits via MoneyPass ATMs.
Accept contactless payments via the NBKC app (iOS only). Fees apply.

Cons

High fee ($45) for international wire transfers.
No weekend or after-hours customer support.
No third-party app integrations.

Our pick for

Free wire transfers

Mercury Business Bank Account

4.5

at Mercury, Deposits are FDIC Insured

APY

N/A

Monthly fee

Min. opening deposit

Free cash deposits

No cash deposits.

Overdraft fees

Bonus

Mercury's free business checking account has no transaction fees, no overdraft fees and free domestic and international wire transfers. (A 1% currency exchange fee applies to transfers not in U.S. dollars).

The online banking platform is great for tech-focused startups, offering a variety of digital tools and read-write application programming interface access that allows you to customize your business banking.

The downside: Mercury doesn’t accept cash deposits. The online business account is also not available to sole proprietors.

Pros

No monthly fees or minimum opening deposit.
Unlimited fee-free transactions; no overdraft fees.
No fees at Allpoint ATMs.
Free domestic and international wire transfers.
Advanced digital tools including API access to automate and customize your banking.

Cons

Limited phone support. Weekend and after-hours support via email only.
Can’t deposit cash.