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Best Business Checking Accounts of June 2024

By Rosalie Murphy, Kelsey Sheehy
Last updated on June 13, 2024
Edited byRyan Lane
Fact checked and reviewed

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Every entrepreneur should separate their personal and professional finances, and a business checking account is a simple way to do so. It's an easy-to-use, inexpensive home for your company's cash.
The best business checking accounts offer perks like interest on your balances, cash back on debit card spending, automatic ATM fee refunds and 24/7 customer support, all for little to no monthly fee.
Our top overall picks include:
But the right choice for your company will match your priorities — whether that’s high interest rates, lots of small-business bank branches, the ability to deposit cash or built-in software tools. Our complete list highlights business checking options that can suit any need, including those that didn't quite make the cut but may still be useful for some entrepreneurs.

Best Business Checking Accounts

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

N/A

Learn more

at Bluevine, Deposits are FDIC Insured

American Express® Business Checking

Learn more

at American Express National Bank, Member FDIC

5.0/5

Best for Online business checking account

$0

1.30%

With $0 min. balance for APY

N/A

Learn more

at American Express National 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 Businesses that often handle cash

$16.00

N/A$200

Requirements to qualify

Learn more

at Bank of America, N.A., Member FDIC

Grasshopper Business Checking Account

Learn more

at Grasshopper Bank, Member FDIC

4.5/5

Best for Built-in invoicing and bookkeeping

$0

2.25%

With $0 min. balance for APY

N/A

Learn more

at Grasshopper Bank, Member FDIC

Relay Business Checking

Learn more

at Relay, Deposits are FDIC Insured

4.7/5

Best for Multiple accounts

$0

N/A$100

Requirements to qualify

Learn more

at Relay, Deposits are FDIC Insured

nbkc Business Account

Learn more

at nbkc bank, Member FDIC

4.9/5

Best for Low fees on banking services

$0

N/AN/A

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 Sign-up bonus

$0

N/A$800

Requirements to qualify

Learn more

at U.S. Bank, Member FDIC

Chase Business Complete Banking®

Learn more

at Chase, Member FDIC

4.5/5

Best for Brick-and-mortar business checking account

$15.00

Waived with $2,000 minimum balance

N/A$300

Requirements to qualify

Learn more

at Chase, Member FDIC

Axos Bank® Basic Business Checking

Learn more

at Axos Bank®, Member FDIC

5.0/5

Best for 24/7 customer support

$0

N/A$400

Requirements to qualify

Learn more

at Axos Bank®, Member FDIC

Found Small Business Banking

Learn more

at Found, Deposits are FDIC Insured

4.4/5

Best for Side hustlers and gig workers

$0

N/A$20

Requirements to qualify

Learn more

at Found, Deposits are FDIC Insured

Rho Business Checking

Learn more

at Rho, Federally insured by NCUA

4.2/5

Best for Cash management

$0

N/AN/A

Learn more

at Rho, Federally insured by NCUA

LendingClub Tailored Checking

4.9/5

Best for Cash back on debit card purchases

$10.00

Waived with $500 minimum balance

1.50%

With $0 min. balance for APY

N/A

QuickBooks Money

4.4/5

Best for Built-in payment processing

$0

5.00%

With $0 min. balance for APY

N/A

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

N/A

Learn more

at Bluevine, Deposits are FDIC Insured

American Express® Business Checking

Learn more

at American Express National Bank, Member FDIC

5.0/5

Best for Online business checking account

$0

1.30%

With $0 min. balance for APY

N/A

Learn more

at American Express National 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 Businesses that often handle cash

$16.00

N/A$200

Requirements to qualify

Learn more

at Bank of America, N.A., Member FDIC

Grasshopper Business Checking Account

Learn more

at Grasshopper Bank, Member FDIC

4.5/5

Best for Built-in invoicing and bookkeeping

$0

2.25%

With $0 min. balance for APY

N/A

Learn more

at Grasshopper Bank, Member FDIC

Relay Business Checking

Learn more

at Relay, Deposits are FDIC Insured

4.7/5

Best for Multiple accounts

$0

N/A$100

Requirements to qualify

Learn more

at Relay, Deposits are FDIC Insured

nbkc Business Account

Learn more

at nbkc bank, Member FDIC

4.9/5

Best for Low fees on banking services

$0

N/AN/A

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 Sign-up bonus

$0

N/A$800

Requirements to qualify

Learn more

at U.S. Bank, Member FDIC

Chase Business Complete Banking®

Learn more

at Chase, Member FDIC

4.5/5

Best for Brick-and-mortar business checking account

$15.00

Waived with $2,000 minimum balance

N/A$300

Requirements to qualify

Learn more

at Chase, Member FDIC

Axos Bank® Basic Business Checking

Learn more

at Axos Bank®, Member FDIC

5.0/5

Best for 24/7 customer support

$0

N/A$400

Requirements to qualify

Learn more

at Axos Bank®, Member FDIC

Found Small Business Banking

Learn more

at Found, Deposits are FDIC Insured

4.4/5

Best for Side hustlers and gig workers

$0

N/A$20

Requirements to qualify

Learn more

at Found, Deposits are FDIC Insured

Rho Business Checking

Learn more

at Rho, Federally insured by NCUA

4.2/5

Best for Cash management

$0

N/AN/A

Learn more

at Rho, Federally insured by NCUA

LendingClub Tailored Checking

4.9/5

Best for Cash back on debit card purchases

$10.00

Waived with $500 minimum balance

1.50%

With $0 min. balance for APY

N/A

QuickBooks Money

4.4/5

Best for Built-in payment processing

$0

5.00%

With $0 min. balance for APY

N/A

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Our pick for

High-yield business checking

Bluevine's APY is hard to beat, and users can upgrade for an even higher rate. This online account also offers expanded FDIC insurance, covering up to $3 million instead of the usual $250,000.

Bluevine Business Checking

Read Review
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
N/A

Our pick for

Online business checking account

American Express offers business checking customers a competitive APY, few fees and a sign-up bonus. Plus, you can talk to someone on the phone 24/7.

American Express® Business Checking

Read Review
Learn more

at American Express National Bank, Member FDIC

APY
1.30%

With $0 min. balance for APY

Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
No

No cash deposits.

Overdraft fees
N/A
Bonus
N/A

Our pick for

Businesses that often handle cash

Bank of America stands out for its big branch and ATM network, and its $7,500 monthly cash deposit limit is higher than many of its competitors.

Bank of America® Business Advantage Fundamentals™ Banking

Read Review
Learn more

at Bank of America, N.A., Member FDIC

APY
N/A
Monthly fee
$16.00
Min. opening deposit
$100
Free cash deposits
Yes

Up to $7,500 per statement cycle.

Overdraft fees
$10
Bonus
$200

Requirements to qualify

Our pick for

Built-in invoicing and bookkeeping

Online-only bank Grasshopper offers useful invoicing and bookkeeping tools. Beyond that, it pays 1% cash back on qualifying debit card purchases and offers a solid APY, which could add up to significant rewards for some businesses.

Grasshopper Business Checking Account

Read Review
Learn more

at Grasshopper Bank, Member FDIC

APY
2.25%

With $0 min. balance for APY

Monthly fee
$0
Min. opening deposit
$100
Free cash deposits
No

No cash deposits.

Overdraft fees
$0
Bonus
N/A

Our pick for

Multiple accounts

Relay offers a straightforward, free online business banking solution that lets business owners open up to 20 checking accounts and create multiple user roles.

Relay Business Checking

Read Review
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
$100

Requirements to qualify

Our pick for

Low fees on banking services

NBKC charges remarkably few fees — there's no monthly fee nor a fee on transactions, ATM withdrawals, incoming wires or overdrafts.

nbkc Business Account

Read Review
Learn more

at nbkc bank, Member FDIC

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

Unlimited

Overdraft fees
$0
Bonus
N/A

Our pick for

Sign-up bonus

U.S. Bank offers a hefty sign-up bonus and no monthly fee, both of which set it apart from other brick-and-mortar options.

U.S. Bank Silver Business Checking

Read Review
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

Our pick for

Brick-and-mortar business checking account

Chase is our top-rated brick-and-mortar business checking account. It comes with built-in payment processing plus a generous overdraft policy: $50 of wiggle room and 24 hours to get your account back in the black before fees kick in.

Chase Business Complete Banking®

Read Review
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
$300

Requirements to qualify

Our pick for

24/7 customer support

Axos customers can talk to a human around the clock. Plus, the bank charges no ATM fees and gives unlimited refunds on the fees charged by other ATM operators.

Axos Bank® Basic Business Checking

Read Review
Learn more

at Axos Bank®, Member FDIC

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

Unlimited

Overdraft fees
$25
Bonus
$400

Requirements to qualify

Our pick for

Side hustlers and gig workers

Found's bookkeeping, invoicing and tax-planning tools and integration with business apps make it a great choice for solopreneurs.

Found Small Business Banking

Read Review
Learn more

at Found, Deposits are FDIC Insured

APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
No

$2 fee per deposit

Overdraft fees
$0
Bonus
$20

Requirements to qualify

Our pick for

Cash management

Rho's business checking account can be linked to a cash management account, a financial tool to earn extra-high APYs on your balances.

Rho Business Checking

Read Review
Learn more

at Rho, Federally insured by NCUA

APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
N/A
Overdraft fees
N/A
Bonus
N/A

Our pick for

Cash back on debit card purchases

LendingClub offers 1% cash back on all debit card purchases and pays interest, making it a great option for businesses seeking rewards. Plus, users pay no ATM fees and get unlimited reimbursements on those charged by ATM owners.

LendingClub Tailored Checking

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
$0
Bonus
N/A

Our pick for

Built-in payment processing

QuickBooks Money includes both a business checking account and a payment processor, allowing you to send customers invoices and take their payments without using a third-party service. This can mean faster access to your funds, too.

QuickBooks Money

APY
5.00%

With $0 min. balance for APY

Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
No

Fees of up to $5.95 may be collected by retailers when depositing cash to your account at their locations.

Overdraft fees
N/A
Bonus
N/A

Business checking accounts that didn't make the list

The following didn't make our top picks, but may still make sense for certain businesses.
Prefer a smaller institution? Check out our list of credit unions that offer business accounts or use the below tool to see which local banks in your state offer free small-business checking accounts.

What is a business checking account?

A business checking account is a secure place to store your company's cash as payments go out and come in.
In general, you can spend the money in your business checking account immediately. You can access your funds by using a debit card, sending ACH or wire transfers, writing checks or withdrawing cash. And when you use a point-of-sale system or payment processor to take payments, that software can deposit customers' payments into your business checking account.
As a rule, business checking accounts should be FDIC insured up to $250,000. That means, if the bank holding your funds were to fail, the Federal Deposit Insurance Corp. would cover up to $250,000 in lost cash. Some accounts offer even more FDIC insurance coverage through Insured Cash Sweep networks. Credit unions are similarly insured through the National Credit Union Administration (NCUA).
Do not use a checking account that isn't FDIC or NCUA insured.

🤓 Nerdy Tip

Some of the accounts on our list come from financial technology companies or "neobanks," not traditional banks. Neobanks typically partner with FDIC-insured banks; the banks actually hold customers' funds while the fintech companies provide the software experience. If a neobank ever fails, you should still be able to recover your funds — but you may have to deal with frozen accounts, failed transactions or other headaches along the way. Learn more.

Who should get a business checking account?

Anyone who owns a business should have a business checking account. That includes corporations and LLCs, as well as sole proprietors and freelancers.
Using a dedicated business bank account for your business income and expenses helps streamline record-keeping, making it easier to file taxes and gather the financial statements you'll need to apply for small-business grants and business loans
A separate small-business checking account draws a clear line between business and personal expenses, too, which can help shield your personal assets if your company is sued.

How to compare 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, including the following.

1. Fees on banking services

Common fees charged by business bank account providers include:
  • Monthly fees: Some business checking accounts charge monthly maintenance fees of around $15. Most offer to waive this fee if you maintain a certain average balance, make a certain number of transactions each month or both. Free business checking accounts have no monthly fee.
  • ATM fees: Some small-business banks charge $2 to $3 if you use an ATM outside of the bank’s own ATM network; others don't. In most cases, you'll have to pay fees charged by the owner of any third-party ATM you use — though a handful of business banking accounts will automatically refund some or all of your ATM fees.
  • 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, sometimes multiple times per day. Some banks, including Chase, Axos and Huntington, offer a grace period on overdrafts (up to a certain amount) to give small businesses some wiggle room.
  • Wire transfer fees: Wire transfer fees are common; most customers should expect to pay up to $15 to receive a transfer and up to $40 to send one. If your business relies on wire transfers, consider an account with Mercury or Brex, both of which charge no fees to receive or send.
  • ACH fees: ACH transfers are usually free, but they take one or two business days to complete. Expect to pay a fee for same-day ACH.
See below for breakdowns of these fees for the checking accounts on our list of top picks.

2. Transaction and cash deposit limits

Transaction limits and cash deposits limits are common with business checking accounts, especially those from brick-and-mortar banks.
A cash deposit limit of up to to $5,000 is typical for entry-level business accounts at brick-and-mortar banks. Beyond that, you'll likely pay a fee. Most accounts offer 100 to 500 free transactions per month and charge fees for additional ones.
Online business checking accounts usually include unlimited fee-free transactions, but you'll face other limits — for instance, on how much you can deposit or transfer per day and per month.
Review your banking history to ensure you won’t bump up against these limits and run into extra fees.

3. Access to cash and checks

There are a lot of ways to access the money in your business checking account: checks, ACH transfers, online bill pay and cash withdrawal (in person or via ATM).
Traditional brick-and-mortar banks typically offer all of these options, though they tend to limit the number of free transactions you can make each month. 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.
Neobanks are more likely to offer unlimited transactions, but they may not offer those other tools — for instance, they don't always issue checkbooks. Most neobank customers have fee-free access to an ATM network, but no branches.

4. Interest or cash back

A business checking account should do more than just hold your money. Several of our top picks have annual percentage yields of 1% APY or higher. Some accounts also pay customers cash back on debit card purchases, similar to what you'd expect from a credit card.

🤓 Nerdy Tip

Want to earn more in interest? Consider a business savings account or business money market account for longer-term savings. Some business savings accounts earn more than 4% APY.
Look for business bank account promotions when you're opening an account, too. Some small-business checking accounts offer cash bonuses to new customers who meet specific requirements, like maintaining a certain balance for several months after opening the account.

5. Built-in software tools and integrations

Some business checking accounts for freelancers offer built-in invoicing and bookeeping tools. Others integrate directly with gig work or e-commerce apps, like DoorDash and Etsy.
Still other accounts come with payment processing built in. That can help youu to take customers' credit or debit card payments in person or collect online payments without relying on a third party.
A more established business may want an account that easily integrates with its existing business software tools. Most accounts should offer integrations with popular software like QuickBooks.
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.
Last updated on June 13, 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.

Frequently Asked Questions

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