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Best Business Checking Accounts of May 2024

By Randa Kriss, Kelsey Sheehy
Last updated on May 21, 2024
Edited byRyan Lane
Fact checked and reviewed

⏰ Estimated read time: 14 minutes

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A small-business checking account provides 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.
Every entrepreneur should separate their personal and professional finances, and a business checking account is a simple way to do so. But the right business bank account for you depends on your unique needs. Focus on your top priorities — high interest rates, cash deposits and withdrawals or small-business bank branches you can visit in person, for instance — as you compare options.
Here are our picks for the best checking accounts for small businesses.

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 24/7 customer support + high APY

$0

1.30%

With $0 min. balance for APY

N/A

Learn more

at American Express National Bank, Member FDIC

Grasshopper Business Checking Account

Learn more

at Grasshopper Bank, Member FDIC

4.5/5

Best for Cash back on debit card purchases + interest

$0

2.25%

With $0 min. balance for APY

N/A

Learn more

at Grasshopper 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 Branch access + high cash deposit limit

$16.00

N/A$200

Requirements to qualify

Learn more

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

Axos Bank® Basic Business Checking

Learn more

at Axos Bank®, Member FDIC

5.0/5

Best for Online bank with unlimited ATM access

$0

N/A$400

Requirements to qualify

Learn more

at Axos Bank®, Member FDIC

Relay Business Checking

Learn more

at Relay, Deposits are FDIC Insured

4.7/5

Best for Multiple accounts

$0

N/AN/A

Learn more

at Relay, Deposits are FDIC Insured

nbkc Business Account

Learn more

at nbkc bank, Member FDIC

4.9/5

Best for No fees

$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 Branch access + 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 Branch access + overdraft grace period

$15.00

Waived with $2,000 minimum balance

N/A$300

Requirements to qualify

Learn more

at Chase, Member FDIC

Found Small Business Banking

Learn more

at Found, Deposits are FDIC Insured

4.4/5

Best for Online account for freelancers and side hustlers

$0

N/A$20

Requirements to qualify

Learn more

at Found, Deposits are FDIC Insured

Lili Basic Business Checking

Learn more

at Lili, Deposits are FDIC Insured

4.3/5

Best for Early access to payments

$0

N/AN/A

Learn more

at Lili, Deposits are FDIC Insured

LendingClub Tailored Checking

4.9/5

Best for Cash back on debit card purchases + unlimited ATM access

$10.00

Waived with $500 minimum balance

1.50%

With $0 min. balance for APY

N/A

Novo Business Checking

Learn more

at Novo, Deposits are FDIC Insured

4.4/5

Best for Built-in invoicing

$0

N/AN/A

Learn more

at Novo, Deposits are FDIC Insured

Mercury Business Bank Account

Learn more

at Mercury, Deposits are FDIC Insured

4.1/5

Best for Cash management

$0

N/AN/A

Learn more

at Mercury, Deposits are FDIC Insured

Navy Federal Credit Union Business Checking

4.2/5

Best for Veteran-owned businesses

$0

0.01%

With $0 min. balance for APY

N/A

QuickBooks Money

4.4/5

Best for Built-in invoicing + 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 24/7 customer support + high APY

$0

1.30%

With $0 min. balance for APY

N/A

Learn more

at American Express National Bank, Member FDIC

Grasshopper Business Checking Account

Learn more

at Grasshopper Bank, Member FDIC

4.5/5

Best for Cash back on debit card purchases + interest

$0

2.25%

With $0 min. balance for APY

N/A

Learn more

at Grasshopper 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 Branch access + high cash deposit limit

$16.00

N/A$200

Requirements to qualify

Learn more

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

Axos Bank® Basic Business Checking

Learn more

at Axos Bank®, Member FDIC

5.0/5

Best for Online bank with unlimited ATM access

$0

N/A$400

Requirements to qualify

Learn more

at Axos Bank®, Member FDIC

Relay Business Checking

Learn more

at Relay, Deposits are FDIC Insured

4.7/5

Best for Multiple accounts

$0

N/AN/A

Learn more

at Relay, Deposits are FDIC Insured

nbkc Business Account

Learn more

at nbkc bank, Member FDIC

4.9/5

Best for No fees

$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 Branch access + 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 Branch access + overdraft grace period

$15.00

Waived with $2,000 minimum balance

N/A$300

Requirements to qualify

Learn more

at Chase, Member FDIC

Found Small Business Banking

Learn more

at Found, Deposits are FDIC Insured

4.4/5

Best for Online account for freelancers and side hustlers

$0

N/A$20

Requirements to qualify

Learn more

at Found, Deposits are FDIC Insured

Lili Basic Business Checking

Learn more

at Lili, Deposits are FDIC Insured

4.3/5

Best for Early access to payments

$0

N/AN/A

Learn more

at Lili, Deposits are FDIC Insured

LendingClub Tailored Checking

4.9/5

Best for Cash back on debit card purchases + unlimited ATM access

$10.00

Waived with $500 minimum balance

1.50%

With $0 min. balance for APY

N/A

Novo Business Checking

Learn more

at Novo, Deposits are FDIC Insured

4.4/5

Best for Built-in invoicing

$0

N/AN/A

Learn more

at Novo, Deposits are FDIC Insured

Mercury Business Bank Account

Learn more

at Mercury, Deposits are FDIC Insured

4.1/5

Best for Cash management

$0

N/AN/A

Learn more

at Mercury, Deposits are FDIC Insured

Navy Federal Credit Union Business Checking

4.2/5

Best for Veteran-owned businesses

$0

0.01%

With $0 min. balance for APY

N/A

QuickBooks Money

4.4/5

Best for Built-in invoicing + payment processing

$0

5.00%

With $0 min. balance for APY

N/A

Access real-time financial insights and recommendations

Get insights into your cash flow trends, track revenue and expenses, and receive personalized recommendations to make smarter financial decisions.

insight

Accounts

insight

Insights

Cash flow graph with different accounts and their balances
Cash flow graph with different accounts and their balances
Cash flow graph with different accounts and their balances

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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

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

24/7 customer support + high APY

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

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

Cash back on debit card purchases + interest

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

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

Branch access + high cash deposit limit

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

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

Online bank with unlimited ATM access

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

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

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
N/A

Our pick for

No fees

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

nbkc Business Account

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

Branch access + 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

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

Branch access + overdraft grace period

Chase stands out from other brick-and-mortar banks for its 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®

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 account for freelancers and side hustlers

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

Found Small Business Banking

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

Early access to payments

If you do business with certain apps, like Uber or Shopify, you can connect your account with Lili to receive funds up to two days faster. Users can upgrade for additional bookkeeping and tax-planning tools, too.

Lili Basic Business Checking

Learn more

at Lili, Deposits are FDIC Insured

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

Fee of up to $4.95 per cash deposit.

Overdraft fees
$0
Bonus
N/A

Our pick for

Cash back on debit card purchases + unlimited ATM access

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 invoicing

Novo users can send unlimited invoices and set up automatic bill pay. And while Novo doesn't accept cash deposits, it does offer unlimited refunds on ATM withdrawal fees.

Novo Business Checking

Learn more

at Novo, Deposits are FDIC Insured

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

No cash deposits.

Overdraft fees
$0
Bonus
N/A

Our pick for

Cash management

Mercury users with more than $500,000 on deposit can apply for Mercury Treasury, a cash management account that lets you put funds into securities and money market funds and earn a higher APY. That makes it a competitive choice for startups with cash in the bank.

Mercury Business Bank Account

Learn more

at Mercury, Deposits are FDIC Insured

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

No cash deposits.

Overdraft fees
$0
Bonus
N/A

Our pick for

Veteran-owned businesses

Navy Federal serves veterans, military members, Department of Defense employees and their families. If you qualify to join, you'll get 24/7 customer support and unlimited cash deposits.

Navy Federal Credit Union Business Checking

APY
0.01%

With $0 min. balance for APY

Monthly fee
$0
Min. opening deposit
$255
Free cash deposits
Yes

Unlimited

Overdraft fees
$29
Bonus
N/A

Our pick for

Built-in invoicing + 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

Additional rates and fees for best business checking accounts

Look for accounts with the lowest fees on the services you'll use most frequently.
If your business makes frequent use of a certain banking function — like wire transfers or cash deposits — make sure to compare fees for that specific feature.