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Best Business Checking Accounts of November 2024

By Rosalie Murphy, Kelsey Sheehy
Last updated on November 5, 2024
Edited byRyan Lane
Fact checked and reviewed
The best business checking accounts provide core banking services for little to no monthly fee, plus benefits like high APYs, cash back on debit card spending and 24/7 customer support. Compare our top accounts to find the right fit for you.
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A business checking account is an easy-to-use, inexpensive home for your company's cash. Our top overall picks for the best business checking accounts are:
Our complete list highlights business checking options that can suit a variety of business needs — plus details about why some well-known accounts didn't make the cut.

Best Business Checking Accounts

Best forNerdWallet ratingMonthly feeAPYBonusLearn more

High-yield business checking

Bluevine Business Checking

Learn more

at Bluevine, Deposits are FDIC Insured

4.7/5
$0

1.50%

With $0 min. balance for APY

$300

Requirements to qualify

Learn more

at Bluevine, Deposits are FDIC Insured

Online business checking account

American Express® Business Checking

Learn more

at American Express National Bank, Member FDIC

5.0/5
$0

1.30%

With $0 min. balance for APY

N/A

Learn more

at American Express National Bank, Member FDIC

Competitive APY + cash back

Grasshopper Business Checking Account

Learn more

at Grasshopper Bank, Member FDIC

4.5/5
$0

2.00%

With $0 min. balance for APY

N/A

Learn more

at Grasshopper Bank, Member FDIC

Sign-up bonus

U.S. Bank Silver Business Checking

Learn more

at U.S. Bank, Member FDIC

4.2/5
$0

N/A$400

Requirements to qualify

Learn more

at U.S. Bank, Member FDIC

Brick-and-mortar business checking account

Chase Business Complete Banking®

Learn more

at Chase, Member FDIC

4.5/5
$15.00

Waived with $2,000 minimum balance

N/A$300

Requirements to qualify

Learn more

at Chase, Member FDIC

Online bank with ATM deposits, withdrawals

Axos Bank® Basic Business Checking

Learn more

at Axos Bank®, Member FDIC

4.9/5
$0

N/A$400

Requirements to qualify

Learn more

at Axos Bank®, Member FDIC

Multiple accounts

Relay Business Checking

Learn more

at Relay, Deposits are FDIC Insured

4.9/5
$0

N/A$200

Requirements to qualify

Learn more

at Relay, Deposits are FDIC Insured

Businesses that often handle cash

Bank of America® Business Advantage Fundamentals™ Banking

Learn more

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

4.5/5
$16.00

$0 for the first 12 statement cycles.

N/A$200

Requirements to qualify

Learn more

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

Low fees on banking services

nbkc Business Account

Learn more

at nbkc bank, Member FDIC

4.9/5
$0

N/AN/A

Learn more

at nbkc bank, Member FDIC

Freelancers and self-employed workers

Found Small Business Banking

Learn more

at Found, Deposits are FDIC Insured

4.4/5
$0

N/A$125

Requirements to qualify

Learn more

at Found, Deposits are FDIC Insured

Cash management

Rho Business Checking

Learn more

at Rho, Member FDIC

4.1/5
$0

N/A$500

Requirements to qualify

Learn more

at Rho, Member FDIC

Cash back on debit card purchases

LendingClub Tailored Checking

4.9/5
$10.00

Waived with $500 minimum balance

1.50%

With $0 min. balance for APY

N/A

Built-in payment processing

QuickBooks Money

4.2/5
$0

5.00%

With $0 min. balance for APY

N/A

Best forNerdWallet ratingMonthly feeAPYBonusLearn more

High-yield business checking

Bluevine Business Checking

Learn more

at Bluevine, Deposits are FDIC Insured

4.7/5
$0

1.50%

With $0 min. balance for APY

$300

Requirements to qualify

Learn more

at Bluevine, Deposits are FDIC Insured

Online business checking account

American Express® Business Checking

Learn more

at American Express National Bank, Member FDIC

5.0/5
$0

1.30%

With $0 min. balance for APY

N/A

Learn more

at American Express National Bank, Member FDIC

Competitive APY + cash back

Grasshopper Business Checking Account

Learn more

at Grasshopper Bank, Member FDIC

4.5/5
$0

2.00%

With $0 min. balance for APY

N/A

Learn more

at Grasshopper Bank, Member FDIC

Sign-up bonus

U.S. Bank Silver Business Checking

Learn more

at U.S. Bank, Member FDIC

4.2/5
$0

N/A$400

Requirements to qualify

Learn more

at U.S. Bank, Member FDIC

Brick-and-mortar business checking account

Chase Business Complete Banking®

Learn more

at Chase, Member FDIC

4.5/5
$15.00

Waived with $2,000 minimum balance

N/A$300

Requirements to qualify

Learn more

at Chase, Member FDIC

Online bank with ATM deposits, withdrawals

Axos Bank® Basic Business Checking

Learn more

at Axos Bank®, Member FDIC

4.9/5
$0

N/A$400

Requirements to qualify

Learn more

at Axos Bank®, Member FDIC

Multiple accounts

Relay Business Checking

Learn more

at Relay, Deposits are FDIC Insured

4.9/5
$0

N/A$200

Requirements to qualify

Learn more

at Relay, Deposits are FDIC Insured

Businesses that often handle cash

Bank of America® Business Advantage Fundamentals™ Banking

Learn more

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

4.5/5
$16.00

$0 for the first 12 statement cycles.

N/A$200

Requirements to qualify

Learn more

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

Low fees on banking services

nbkc Business Account

Learn more

at nbkc bank, Member FDIC

4.9/5
$0

N/AN/A

Learn more

at nbkc bank, Member FDIC

Freelancers and self-employed workers

Found Small Business Banking

Learn more

at Found, Deposits are FDIC Insured

4.4/5
$0

N/A$125

Requirements to qualify

Learn more

at Found, Deposits are FDIC Insured

Cash management

Rho Business Checking

Learn more

at Rho, Member FDIC

4.1/5
$0

N/A$500

Requirements to qualify

Learn more

at Rho, Member FDIC

Cash back on debit card purchases

LendingClub Tailored Checking

4.9/5
$10.00

Waived with $500 minimum balance

1.50%

With $0 min. balance for APY

N/A

Built-in payment processing

QuickBooks Money

4.2/5
$0

5.00%

With $0 min. balance for APY

N/A

I'M INTERESTED IN:

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
1.50%

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
$300

Requirements to qualify

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

Competitive APY + cash back

Online-only bank Grasshopper 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
2.00%

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

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
$400

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

Online bank with ATM deposits, withdrawals

Axos charges no ATM fees and gives unlimited refunds on the fees charged by other ATM operators. You can also make deposits at compatible Allpoint+ ATMs with no fees charged by Axos.

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

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
$200

Requirements to qualify

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

$0 for the first 12 statement cycles.

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

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

Freelancers and self-employed workers

Found's bookkeeping, invoicing and tax-planning tools and integrations 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
$125

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, Member FDIC

APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
N/A
Overdraft fees
N/A
Bonus
$500

Requirements to qualify

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

Read Review
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

Read Review
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

How we choose the best business checking accounts

NerdWallet evaluates business checking accounts on more than 20 different factors, including:
  • Monthly fees.
  • APY.
  • Transaction limits.
  • Access to ATMs.
  • Access to branches.
  • Cash deposit limits and fees.
  • Availability of customer support via phone and live chat.
  • App store rating.
  • Availability of checks.
We continually reevaluate and update our methodology to reflect evolving industry norms and business owner needs.

What our star ratings mean

Business accounts that earn 5 stars are exceptional. These are best-in-class accounts that deliver the most value for the greatest number of business owners.
Business accounts that earn 4.0 to 4.9 stars are good to excellent. They deliver terrific value and might be the best choice for your businesses depending on your needs.
Business accounts that earn 3.0 to 3.9 stars are fine. You'll get some value out of using them, but there are other accounts that offer fewer fees, more features or a better customer experience.
Business checking accounts that earn below 3 stars are considered subpar and would generally not be recommended by NerdWallet.

Which business accounts does NerdWallet rate?

NerdWallet examines dozens of business checking accounts every year to determine our star ratings and top picks, but we do not review all 4,000-plus FDIC-insured banks in the U.S. We focus on the accounts available to the largest number of business owners.
Should you open a business account at your local bank or credit union? These institutions can be great choices if you're looking for the following:
  • A personal, face-to-face relationship with your banker.
  • Highly regarded customer support.
  • Traditional banking services, including checks, wire transfers and bill pay.
  • In the future, a business loan.
However, smaller financial institutions may limit how many transactions you can make each month and tend to charge higher fees than their online counterparts. They may also lack the more developed digital tools of national banks.

Business checking accounts that didn't make our list

The following business accounts didn't make our top picks, but may still make sense for certain businesses.

What is a business checking account?

A business checking account is a secure place to store your company's cash as revenue comes in and expenses go out.
You can spend the money in your business checking account immediately. You can access your funds by withdrawing cash, using a debit card, sending ACH or wire transfers or writing checks.
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.
For LLCs, 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.
Using a dedicated business bank account for your business income and expenses also helps streamline record-keeping, making it easier to file taxes and gather the financial statements you'll need to apply for business loans

How to compare business checking accounts

Here's how to tell if a business checking account is exceptional, average or below average.

1. Fees on banking services

Common fees charged by business bank account providers include the following.

2. Transaction and cash deposit limits

Most brick-and-mortar business checking accounts offer 100 to 500 free transactions per month and charge fees for additional ones. A monthly cash deposit limit of up to to $5,000 is typical for entry-level accounts at these financial institutions; beyond that, you'll likely pay a fee.
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.

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.
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

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.
Some financial institutions also offer business bank account promotions 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, or with business software tools, like QuickBooks.
Still other accounts come with payment processing built in. That can help you take customers' credit or debit card payments in person or collect online payments without relying on a third party. (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, but it may take an extra day or two.)
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 November 5, 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