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Best Business Checking Accounts of July 2024

By Rosalie Murphy, Kelsey Sheehy
Last updated on July 16, 2024
Edited byRyan Lane
Fact checked and reviewed

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A business checking account is an easy-to-use, inexpensive home for your company's cash. The best business checking accounts not only provide core banking services for little to no monthly fee, but they also offer additional value with benefits like high APYs and 24/7 customer support.
Our top overall picks for the best business checking accounts are:
Below, 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

2.00%

With $0 min. balance for APY

N/A

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

2.25%

With $0 min. balance for APY

N/A

Learn more

at Grasshopper Bank, Member FDIC

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

N/A$200

Requirements to qualify

Learn more

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

Sign-up bonus

U.S. Bank Silver Business Checking

Learn more

at U.S. Bank, Member FDIC

4.0/5
$0

N/A$800

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

Multiple accounts

Relay Business Checking

Learn more

at Relay, Deposits are FDIC Insured

4.9/5
$0

N/AN/A

Learn more

at Relay, Deposits are FDIC Insured

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

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

Side hustlers and gig workers

Found Small Business Banking

Learn more

at Found, Deposits are FDIC Insured

4.4/5
$0

N/A$20

Requirements to qualify

Learn more

at Found, Deposits are FDIC Insured

Cash management

Rho Business Checking

Learn more

at Rho, Federally insured by NCUA

4.2/5
$0

N/AN/A

Learn more

at Rho, Federally insured by NCUA

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

2.00%

With $0 min. balance for APY

N/A

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

2.25%

With $0 min. balance for APY

N/A

Learn more

at Grasshopper Bank, Member FDIC

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

N/A$200

Requirements to qualify

Learn more

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

Sign-up bonus

U.S. Bank Silver Business Checking

Learn more

at U.S. Bank, Member FDIC

4.0/5
$0

N/A$800

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

Multiple accounts

Relay Business Checking

Learn more

at Relay, Deposits are FDIC Insured

4.9/5
$0

N/AN/A

Learn more

at Relay, Deposits are FDIC Insured

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

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

Side hustlers and gig workers

Found Small Business Banking

Learn more

at Found, Deposits are FDIC Insured

4.4/5
$0

N/A$20

Requirements to qualify

Learn more

at Found, Deposits are FDIC Insured

Cash management

Rho Business Checking

Learn more

at Rho, Federally insured by NCUA

4.2/5
$0

N/AN/A

Learn more

at Rho, Federally insured by NCUA

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
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

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
2.25%

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

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

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

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
N/A

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

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

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? Use the below tool to see which local banks in your state offer free small-business checking accounts, or check out our list of credit unions that offer business account.

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.
In general, 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 small-business grants and business loans

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 the following.