Best Free Business Checking Accounts of December 2023

at Bluevine, Deposits are FDIC Insured

APY

2.00%

With $0 min. balance for APY

Monthly fee

Min. opening deposit

Free cash deposits

Fee of up to $4.95 per cash deposit.

Overdraft fees

Bonus

Bluevine Business Checking has no monthly fees, no minimum opening deposit and no minimum balance requirements. This free online business checking account includes unlimited transactions and a top-notch interest rate:

2.00%

APY on account balances up to and including $250,000. Terms apply.

In addition, Bluevine Business Checking offers free ATM access through the MoneyPass network — with the ability to deposit cash at Green Dot locations across the U.S (for a $4.95 fee per deposit).

The Bluevine Business Checking account also includes mobile check deposit, online bill pay and connects to third-party tools like Stripe and Expensify.

Pros

No monthly fees or minimum opening deposit.
Unlimited fee-free transactions; no overdraft fees.
Earn 2.00% interest on account balances up to and including $250,000. Terms apply.
Access up to $3 million in FDIC insurance with Insured Cash Sweep.

Cons

Cash deposits limited to $500 per deposit, $2,000 per day. Service fee of up to $4.95 per deposit.
Fee for using out-of-network ATMs.
No joint accounts or employee debit cards.

Our pick for

1% cash back + high APY

Grasshopper Business Checking Account

5.0

at Grasshopper Bank, Member FDIC

APY

2.25%

With $0 min. balance for APY

Monthly fee

Min. opening deposit

$100

Free cash deposits

No cash deposits.

Overdraft fees

Bonus

Grasshopper bank’s free business checking account includes two features rarely offered in tandem on business checking accounts: unlimited 1% cash back on qualified debit card purchases and up to

2.25%

APY. Plus, the account has no monthly fees, overdraft charges or minimum balance requirements and includes unlimited transactions and free incoming wires.

Grasshopper business customers also get free, built-in access to Autobooks, as well as business tools like invoicing and cash management. And fee-free access to more than 45,000 ATMs via the MoneyPass and SUM networks (third-party fees may apply outside of these networks).

Grasshopper business checking accounts do not support cash deposits and requires a $100 minimum deposit to open your account.

Pros

Unlimited 1% cash back on qualified debit card purchases.
Earn up to 2.25% APY.
No monthly fees or overdraft charges.
Free, built-in bookkeeping software.

Cons

Can’t deposit cash.
$100 minimum opening deposit.
No weekend support.

Our pick for

Multiple business checking accounts (up to 20)

Relay Business Checking

5.0

at Relay, Deposits are FDIC Insured

APY

N/A

Monthly fee

Min. opening deposit

Free cash deposits

Yes

Unlimited

Overdraft fees

Bonus

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. Just remember: The $250,000 FDIC insurance limit is per depositor, not per account.

Relay has no monthly fees, includes unlimited fee-free transactions and free incoming wires, and allows for direct integrations with QuickBooks Online and Xero.

The downside: Deposited checks are held for six to seven business days.

Pros

No monthly fees or minimum opening deposit.
Unlimited fee-free transactions; no overdraft fees.
Cash deposits via compatible AllPoint ATMs.
Automatic transfers to high-yield business savings earning up to 3.00% APY.
No foreign transaction fees when you use your Relay Mastercard abroad.

Cons

Limited phone support. Email support available seven days a week.
Deposited checks are held for up to 6-7 business days.

Our pick for

Freelancers and gig workers

Found Small Business Banking

5.0

at Found, Deposits are FDIC Insured

APY

N/A

Monthly fee

Min. opening deposit

Free cash deposits

No cash deposits.

Overdraft fees

Bonus

$20

Requirements to qualify

The Found business account offers more than just free business checking. The account also includes built-in invoicing, bookkeeping and tax-planning tools, so you can generate profit and loss reports, automatically save for business taxes and schedule recurring invoices. Found also integrates with popular business and gig work apps, like Stripe, Square, Uber, PayPal and Lyft.

Check deposit and transfer limits before applying, as these can be low compared with competitors. Accounts can only be opened using your personal name and Social Security number, making the account better suited for freelancers and sole proprietors. Business owners with an EIN can add it once the account is opened.

Pros

No monthly fees or minimum opening deposit.
Unlimited fee-free transactions; no overdraft fees.
Free, built-in invoicing, bookkeeping and tax-planning features.
Integrates with popular business apps, including Stripe, Etsy and PayPal.

Cons

Weekend and after-hours support via email only.
Have to open account in your name, not business name, and use your SSN to apply. (Business EIN can be added later.)
No outgoing wires. Can’t pay by check.
Cash deposits limited to $1,000 per week; $4,000 per month. A $2 service fee applies.

Our pick for

Early access to payments

Lili Basic Business Checking

4.5

at Lili, Deposits are FDIC Insured

APY

N/A

Monthly fee

Min. opening deposit

Free cash deposits

Fee of up to $4.95 per cash deposit.

Overdraft fees

Bonus

Lili Basic’s early payment feature is a real draw for freelancers and independent contractors. If you do business via Uber, Lyft or Shopify, you can connect your account with Lili to receive funds up to two days faster. The account also has an automatic saving feature to help build your emergency fund. Lili Basic no longer includes tax-planning tools, invoicing or expense reports. You'll need to upgrade to Lili Pro (or higher) to access those features.

Pros

No monthly fees or transaction fees.
No fees at MoneyPass ATMs.
Cash deposits via Green Dot network (fees and limits apply).
Early payment feature allows you to receive funds up to two days sooner than with a traditional bank account.

Cons

Fee for using out-of-network ATMs.
Cash deposits limited to $1,000 per day, $9,000 per month. Service fee of up to $4.95 per deposit.
No checkbooks; can’t send wire transfers.

Our pick for

Free online business checking with no deposit

Axos Bank® Basic Business Checking

5.0

at Axos Bank®, Member FDIC

APY

N/A

Monthly fee

Min. opening deposit

Free cash deposits

Yes

Unlimited

Overdraft fees

$25

Bonus

$400

Requirements to qualify

Axos Bank’s Basic Business Checking has no monthly fee or minimum opening deposit requirement and offers unlimited transactions, plus cash deposits via AllPoint and MoneyPass ATMs.

The bank also offers 24/7 customer support and free nationwide ATM access with unlimited refunds for fees charged by other banks and ATM operators in the U.S.

Unlike some online business checking accounts, whose banking services are provided and insured by other financial institutions, Axos Bank is a Federal Deposit Insurance Corp.-insured institution and provides all of its business banking products and services directly.

Pros

No monthly fees or minimum opening deposit.
Unlimited fee-free transactions.
Automatic refunds of all ATM fees (domestic).
Cash deposits via MoneyPass and AllPoint ATMs.
24/7 customer support.
Welcome bonus for new customers (terms apply).

Cons

$25 fee for insufficient funds/uncollected funds returned.
No third-party app integrations.

Our pick for

Unlimited fee-free cash deposits via MoneyPass ATMs

nbkc Business Account

5.0

at nbkc bank, Member FDIC

APY

N/A

Monthly fee

Min. opening deposit

Free cash deposits

Yes

Unlimited

Overdraft fees

Bonus

NBKC’s Business Account is a free business checking account with no deposit and no minimum balance 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. There are fees for outgoing domestic wires ($5) and incoming and outgoing international wires ($45).

Although you can’t integrate this free online business checking account directly with third-party business tools, NBKC does offer its own customizable banking add-ons — including the Autobooks invoicing software and the free NBKC Business Money Market Savings account.

Pros

No monthly fees or minimum opening deposit.
Unlimited fee-free transactions; no overdraft or incidental fees.
Up to $12 in monthly refunds for ATM fees charged by other banks worldwide.
Cash deposits via MoneyPass ATMs.
Accept contactless payments via the NBKC app (iOS only). Fees apply.

Cons

High fee ($45) for international wire transfers.
No weekend or after-hours customer support.
No third-party app integrations.

Our pick for

Welcome bonus

U.S. Bank Silver Business Checking

4.0

at U.S. Bank, Member FDIC

APY

N/A

Monthly fee

Min. opening deposit

$100

Free cash deposits

Yes

Up to $2,500 per month.

Overdraft fees

$36

Bonus

$800

Requirements to qualify

It's unusual to find a free business checking account from a big brick-and-mortar bank, but that's exactly what U.S. Bank offers with its Silver Business Checking account.

Silver Business Checking includes 125 free transactions and up to $2,500 in free cash deposits per statement cycle. You can open an account online or in person — U.S. Bank has more than 2,000 branches across 26 states. There's also a substantial welcome bonus for new customers (terms apply).

While the account does not have a monthly service fee, U.S. Bank does still charge for overdrafts and excess transactions and cash deposits.

Pros

No monthly service fee for Silver Business Checking account.
Business accounts can be opened entirely online.
Optional payment processing services ranging from mobile apps to in-store payment terminals. Additional fees apply.
Welcome bonus for new customers (terms apply).

Cons

Low cash deposit limits.
Terms and fees are not easily accessible via the bank’s website.

Our pick for

Free domestic and international wire transfers

Mercury Business Bank Account

4.5

at Mercury, Deposits are FDIC Insured

APY

N/A

Monthly fee

Min. opening deposit

Free cash deposits

No cash deposits.

Overdraft fees

Bonus

Mercury is a free online banking platform that’s ideal for startups. Mercury includes both a free business checking account and a free business savings account with no transaction fees and no minimum opening deposit.

In addition, Mercury has no overdraft fees, no incoming wire fees and does not charge to send or receive checks. The platform offers built-in digital tools that allow you to track and manage your payments and expenses, create virtual debit cards and manage team members. Mercury also gives you the ability to integrate with a variety of other business tools.

Pros

No monthly fees or minimum opening deposit.
Unlimited fee-free transactions; no overdraft fees.
No fees at Allpoint ATMs.
Free domestic and international wire transfers.
Advanced digital tools including API access to automate and customize your banking.

Cons

Limited phone support. Weekend and after-hours support via email only.
Can’t deposit cash.

Our pick for

Refunds on all ATM fees worldwide

Novo Business Checking

4.5

at Novo, Deposits are FDIC Insured

APY

N/A

Monthly fee

Min. opening deposit

Free cash deposits

No cash deposits.

Overdraft fees

Bonus

The Novo business checking account has no monthly fees, no minimum balance requirements, no ACH transfer fees and no incoming wire fees. This free business checking account also includes unlimited transactions and refunds on all ATM fees worldwide.

In addition, Novo offers unlimited invoicing and bill pay, as well as integrations with top business tools like QuickBooks, Xero, Stripe and Shopify.

Novo is a great option for small-business owners on the go — it’s important to note, however, that you cannot deposit cash with this online business checking account.

Pros

No monthly fees or minimum opening deposit.
Unlimited fee-free transactions.
Refunds on all ATM fees worldwide.
Integrates with top business tools, including Xero, Stripe and Shopify.

Cons

Can’t deposit cash.
Can’t send domestic or international wires.
No recurring payments available with bill pay.
No customer support by phone.

Our pick for

Up to 5% cash back at select merchants

Oxygen Business Account

4.5

APY

N/A

Monthly fee

Min. opening deposit

Free cash deposits

Fee of up to $4.95 per cash deposit.

Overdraft fees

Bonus

The mobile-only Oxygen business account has no monthly fees and unlimited fee-free transactions, making it an affordable option for small-business owners on the go.

Oxygen has no minimum opening deposit and includes fee-free ATM access through the Allpoint network, as well as the ability to deposit cash through the Green Dot network (for a $4.95 fee per deposit).

Plus, the Oxygen business account offers nationwide LLC creation services through a third party, allowing you to form an LLC from within the app, and then open your business account.

Pros

No monthly fees or minimum opening deposit.
Unlimited fee-free transactions.
No fees at Allpoint ATMs; cash deposits via Green Dot network (fees and limits apply).
Earn up to 5% cash back when using the Oxygen business debit card.
Ability to create an LLC through the Oxygen app before signing up for a business account.

Cons

App only, no web access.
Fee for using out-of-network ATMs.
Cash deposits limited to $1,000 per day; service fee of up to $4.95 per cash deposit.
Can’t send domestic or international wires; can’t receive international wires.
No multi-user accounts.

Our pick for

Military families

Navy Federal Credit Union Business Checking

4.5

APY

0.01%

With $0 min. balance for APY

Monthly fee

Min. opening deposit

$255

Free cash deposits

Yes

Unlimited

Overdraft fees

$29

Bonus

Navy Federal Credit Union offers a free business checking account to qualifying members.

Customers can join Navy Federal Credit Union if they have served in a branch of the U.S. armed forces (either active duty or as a reservist), if they have worked for the Department of Defense or as a contractor, or if they are immediate family of someone who meets the above criteria for membership.

With the Navy Federal Credit Union Business Checking account, there are no monthly service fees and unlimited fee-free electronic transactions. In addition, you receive the first 30 non-electronic transactions per month fee-free; each costs 25 cents thereafter.

This account also includes a Navy Federal business debit card, free starter checks and digital banking access — plus, it earns interest.

Pros

No monthly fees.
Unlimited fee-free electronic transactions.
No dollar limit on cash deposits (other limits may apply).
24/7 customer service.

Cons

High opening deposit (up to $255).
$29 fee for overdrafts, insufficient funds.
Eligibility limited to military members, Department of Defense employees and their families.

Our pick for

High-yield business checking; 24/7 customer support

American Express® Business Checking

5.0

APY

1.30%

Monthly fee

Min. opening deposit

Free cash deposits

No cash deposits.

Overdraft fees

Bonus

$300

Requirements to qualify

The American Express Business Checking account ticks a lot of boxes, with no monthly fees or incidental fees, and 24/7 customer support via phone or the bank’s mobile app.

The account also offers a competitive APY (

1.30%

on balances up to $500,000) and fee-free access to more than 37,000 MoneyPass ATMs. Customers may incur fees from the ATM owner when using out-of-network ATMs, though.

American Express Business Checking does not accept cash deposits. You can only add funds via ACH or wire transfer, or via mobile check deposit (iPhones only).

Pros

No monthly fees or minimum opening deposit.
Unlimited fee-free transactions; no overdraft fees.
Earn 1.30% APY on balances up to $500,000.
24/7 customer support.

Cons

Can’t deposit cash.

Our pick for

Overdraft grace period

Huntington Business Checking 100

4.0

APY

N/A

Monthly fee

Min. opening deposit

Free cash deposits

Yes

Up to $5,000 per month.

Overdraft fees

$36

Bonus

On the surface, Huntington Bank's Business Checking 100 is your standard free business account, with limits on transactions and cash deposits. But Huntington has one of the most forgiving overdraft policies of any business bank.

Huntington Bank doesn't charge an overdraft fee unless your account is overdrawn by more than $50. Even then, the bank will refund any overdraft fees as long as you make a deposit by midnight the next business day to bring your account into good standing.

The bank's service area is pretty small, though, with 1,000 branches and 1,600 ATMs across 11 states. And Huntington charges a fee to use out-of-network ATMs.

Pros

No monthly service fee for Business Checking 100 account.
No overdraft fee unless account is overdrawn by more than $50; 24-hour grace period applies to overdrafts beyond that amount.
Business accounts can be opened entirely online.
Welcome bonus for new customers (terms apply).

Cons

Fee for using out-of-network ATMs.
Monthly limit on fee-free cash deposits ($5,000) and transactions (100).
Accounts only available in 11 states.