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9 Best Business Checking Accounts of August 2022

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Today’s business checking accounts are more than a simple money-management vehicle. Many include tools to streamline invoicing and bookkeeping, making it easier to run (and grow) your business.

The best small-business checking accounts also deliver perks like automatic ATM fee refunds, cash back on debit card purchases, and interest earned on even the smallest balances. (At least one of our picks offers all three.) All for little to no monthly fee.

NerdWallet looked at some of the biggest national, regional and online banks and compared their business checking accounts. Here are our picks for the best checking accounts for small businesses.

Best Business Checking Accounts

Our pick for

Earning interest

Bluevine Business Checking
Learn more

at Bluevine, Deposits are FDIC Insured

Bluevine Business Checking

5.0

NerdWallet rating 
Bluevine Business Checking

Monthly fee

$0

APY

1.50%

With $0 min. balance for APY

Min. opening deposit

$0
Learn more

at Bluevine, Deposits are FDIC Insured


Min. opening deposit

$0

Why we like it

The Bluevine Business Checking account earns 1.50% interest on your account balance up to and including $100,000 — that’s 50x higher than the national average for interest-bearing checking accounts.

The free online business checking account also includes unlimited transactions and free ATM access through the MoneyPass network — with the ability to deposit cash (for a fee) at Green Dot locations across the U.S.

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

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Our pick for

Midsize businesses

Relay
Learn more

at Relay, Deposits are FDIC Insured

Relay

5.0

NerdWallet rating 
Relay

Monthly fee

$0

APY

N/A

Min. opening deposit

$0
Learn more

at Relay, Deposits are FDIC Insured


Min. opening deposit

$0

Why we like it

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 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 income wires, and allows for direct integrations with QuickBooks Online and Xero

The downsides: Relay does not currently offer the ability to deposit cash at ATMs.

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Our pick for

Sign-up bonus

Chase Business Complete Banking℠
Learn more

at Chase, Member FDIC

Chase Business Complete Banking℠

5.0

NerdWallet rating 
Chase Business Complete Banking℠

Monthly fee

$15.00

Waived with $2,000 minimum balance

APY

N/A

Min. opening deposit

$0
Learn more

at Chase, Member FDIC


Min. opening deposit

$0

Why we like it

Chase Business Complete Checking offers one of the most generous sign-up bonuses for business bank accounts: Earn a $300 sign-up bonus if you deposit $2,000 or more within 30 days of opening your account, maintain that balance for 60 days and complete five qualifying transactions.

Chase Business Complete Checking also includes unlimited electronic deposits, extensive nationwide branch and ATM access, and the ability to accept credit card payments via QuickAccept℠ using the Chase mobile app (associated processing fees apply).

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

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Our pick for

Free ATM access

Novo Business Checking
Learn more

at Novo, Deposits are FDIC Insured

Novo Business Checking

5.0

NerdWallet rating 
Novo Business Checking

Monthly fee

$0

APY

N/A

Min. opening deposit

$0
Learn more

at Novo, Deposits are FDIC Insured


Min. opening deposit

$0

Why we like it

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.

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Our pick for

Startups

Mercury Business Bank Account
Learn more

at Mercury, Deposits are FDIC Insured

Mercury Business Bank Account

5.0

NerdWallet rating 
Mercury Business Bank Account

Monthly fee

$0

APY

N/A

Min. opening deposit

$0
Learn more

at Mercury, Deposits are FDIC Insured


Min. opening deposit

$0

Why we like it

Mercury is an online banking platform that’s 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.

Mercury includes a free business checking account, a free business savings account and has no transaction fees, no overdraft fees and no incoming wire fees.

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

Read Full Review

Our pick for

Cash deposits

Axos Bank® Basic Business Checking
Learn more

at Axos Bank®, Member FDIC

Axos Bank® Basic Business Checking

5.0

NerdWallet rating 
Axos Bank® Basic Business Checking

Monthly fee

$0

APY

N/A

Min. opening deposit

$0
Learn more

at Axos Bank®, Member FDIC


Min. opening deposit

$0

Why we like it

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.

Read Full Review

Our pick for

Cash back

LendingClub Tailored Checking
Learn more

at LendingClub Bank, Member FDIC

LendingClub Tailored Checking

5.0

NerdWallet rating 
LendingClub Tailored Checking

Monthly fee

$10.00

Waived with $500 minimum balance

APY

0.50%

With $100 min. balance for APY

Min. opening deposit

$100
Learn more

at LendingClub Bank, Member FDIC


Min. opening deposit

$100

Why we like it

LendingClub Tailored Checking pays you back in two ways: You get unlimited 1% cash back on qualifying debit card purchases (terms apply) and earn 0.50% 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).

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Our pick for

Add-on business solutions

nbkc Business Account
Learn more

at nbkc bank, Member FDIC

nbkc Business Account

5.0

NerdWallet rating 
nbkc Business Account

Monthly fee

$0

APY

N/A

Min. opening deposit

$0
Learn more

at nbkc bank, Member FDIC


Min. opening deposit

$0

Why we like it

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.

Read Full Review

Our pick for

Veteran-owned businesses

Navy Federal Credit Union Business Checking

5.0

NerdWallet rating 
Navy Federal Credit Union Business Checking

Monthly fee

$0

APY

0.01%

With $0 min. balance for APY

Min. opening deposit

$255

Min. opening deposit

$255

Why we like it

Navy Federal’s free business checking account earns top marks for unlimited fee-free electronic transactions, 24/7 phone customer service and no cap on cash deposits (other limits may apply). The credit union also helps connect military veterans with specialized business resources and training.

Navy Federal membership and business checking accounts are available to current and former military members, Department of Defense employees and their families.

The downside: This business checking account requires a minimum opening deposit of $250 to $255, depending on your business type, which is higher than most other business accounts.

Read Full Review

What factors should I look at when comparing business checking accounts?

Consider the following features when choosing a business checking account:

  • Minimum opening deposit: The amount that you’re required to deposit when you open your business checking account. These amounts can vary, and not all accounts require that you meet a specific minimum.

  • Monthly fees: The fee the bank charges to maintain your account. Look for a free business checking account or one that charges a low monthly fee that can be waived if you meet certain qualifications. If an account has a fee, make sure you can meet the requirements to waive it on a continual basis to avoid incurring fees later.

  • Transaction limits: Banks often place limits on the number of transactions a business can make with its account, including electronic transactions and checks. If you exceed your allotted number of monthly transactions, you typically face a small fee for each transaction you make. You’ll want to choose an account that can accommodate your average transaction volume.

  • Cash deposit limit: This is the amount of cash you’re allowed to deposit into your account for free each billing period. Again, after you reach the allotted threshold, you’ll face a small fee for each cash deposit you make.

  • ATM access: Where can you use your business debit card? Are there fees associated with using your card outside of the bank’s ATM network? Does the business checking account offer any ATM fee reimbursements? Does your ATM access include both cash withdrawals and deposits? These are all relevant questions to consider.

  • Additional fees: What other fees does the bank charge for using your business checking account? Fees to look out for include nonsufficient funds fees, overdraft fees, wire fees, stop payment fees and returned items fees.

  • Included tools: What tools are offered with your business checking account? Many accounts offer free online and mobile banking, including mobile check deposit and online bill pay. Some accounts also offer options for customizing your business banking, such as invoicing, online payments, third-party integrations and more.

  • Interest: Some business checking accounts offer interest. With interest-earning accounts, make sure you can meet any minimum balance requirements and that the earning potential isn’t canceled out by fees. Conversely, if you’re looking to save on a longer-term basis and don’t need daily access to your funds, you might consider a business savings account as the best option for earning interest.

  • Type of bank: Is the business checking account from a national, regional or local bank? Is it from an online bank, or maybe a credit union? There's a range of qualities typically associated with these different types of financial institutions that might make a difference to your business. An online-only bank, for example, may offer a free account that can be opened quickly and easily online but does not include access to a physical branch location. A local brick-and-mortar bank, on the other hand, may offer a more personalized customer experience but require that you apply for an account in person; they may also require that your business be located within their county.

Compare more business banking options

Want to explore more banks for small businesses? Use NerdWallet's tool to search for and compare business checking accounts based on the features that are important to you, whether that's unlimited transactions, free ATM access, no monthly fee or a low minimum opening deposit.

Last updated on August 3, 2022

To recap our selections...

NerdWallet's Summary of Best Business Checking Accounts of August 2022

Frequently asked questions