Don't let monthly fees from your business bank eat into profits and hurt your bottom line. These free business checking accounts have no service fees and many have axed other fees, like overdrafts, ATM charges and transaction fees.
NerdWallet evaluated more than 30 business checking accounts from national, regional and online banks, scoring them on fees, perks and accessibility, among other factors. Free business accounts that earned at least four stars were eligible to be included in this list.
Here are our picks for the best free checking accounts for small businesses. Plus, scroll down to find the best free business checking accounts by state.
Featured
Learn more
at Bluevine, Deposits are FDIC Insured
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
Fee of up to $4.95 per cash deposit.
Overdraft fees
$0
Sign-up bonus
$0
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 $100,000. Terms apply.
- No fees at MoneyPass ATMs; cash deposits via Green Dot network (fees and limits apply).
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.
Our Nerdy picks for
High-yield business checking
Bluevine Business Checking24/7 customer support; unlimited fee-free cash deposits
Axos Bank® Basic Business Checking1% cash back + high APY
Grasshopper Business Checking AccountMultiple business checking accounts (up to 20)
RelayRefunds on all ATM fees worldwide
Novo Business CheckingFree domestic and international wire transfers
Mercury Business Bank AccountBest Free Business Checking Accounts
Bank/institution | Learn more | ||||
|---|---|---|---|---|---|
Bluevine Business Checking Learn more at Bluevine, Deposits are FDIC Insured | 5.0/5 Best for High-yield business checking | $0 | 2.00% With $0 min. balance for APY | $0 | Learn more at Bluevine, Deposits are FDIC Insured |
Axos Bank® Basic Business Checking Learn more at Axos Bank®, Member FDIC | 5.0/5 Best for 24/7 customer support; unlimited fee-free cash deposits | $0 | N/A | $0 | Learn more at Axos Bank®, Member FDIC |
Grasshopper Business Checking Account Learn more at Grasshopper Bank, Member FDIC | 5.0/5 Best for 1% cash back + high APY | $0 | 1.51% With $0 min. balance for APY | $100 | Learn more at Grasshopper Bank, Member FDIC |
Relay Learn more at Relay, Deposits are FDIC Insured | 4.5/5 Best for Multiple business checking accounts (up to 20) | $0 | N/A | $0 | Learn more at Relay, Deposits are FDIC Insured |
Novo Business Checking Learn more at Novo, Deposits are FDIC Insured | 4.5/5 Best for Refunds on all ATM fees worldwide | $0 | N/A | $0 | Learn more at Novo, Deposits are FDIC Insured |
Mercury Business Bank Account Learn more at Mercury, Deposits are FDIC Insured | 4.5/5 Best for Free domestic and international wire transfers | $0 | N/A | $0 | Learn more at Mercury, Deposits are FDIC Insured |
Found Small Business Banking Learn more at Found, Deposits are FDIC Insured | 4.0/5 Best for Built-in invoicing and bookkeeping | $0 | N/A | $0 | Learn more at Found, Deposits are FDIC Insured |
nbkc Business Account Learn more at nbkc bank, Member FDIC | 5.0/5 Best for Unlimited fee-free cash deposits via MoneyPass ATMs | $0 | N/A | $0 | Learn more at nbkc bank, Member FDIC |
Oxygen Business Account | 4.5/5 Best for Up to 5% cash back at select merchants | $0 | N/A | $0 | |
Navy Federal Credit Union Business Checking | 4.5/5 Best for Military families | $0 | 0.01% With $0 min. balance for APY | $255 | |
American Express® Business Checking | 5.0/5 Best for High-yield business checking; 24/7 customer support | $0 | 1.30% | $0 | |
U.S. Bank Silver Business Checking Learn more at U.S. Bank, Member FDIC | 4.0/5 Best for Free business account from a brick-and-mortar bank | $0 | N/A | $100 | Learn more at U.S. Bank, Member FDIC |
Huntington Business Checking 100 | 4.0/5 Best for Overdraft grace period | $0 | N/A | $0 | |
Lili Business Checking Learn more at Lili, Deposits are FDIC Insured | 4.5/5 Best for Freelancers | $0 | N/A | $0 | Learn more at Lili, Deposits are FDIC Insured |
Our pick for
High-yield business checking
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
Fee of up to $4.95 per cash deposit.
Overdraft fees
$0
Sign-up bonus
$0
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, plus it allows you to earn
2.00%
interest on your account balance up to and including $100,000.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 $100,000. Terms apply.
- No fees at MoneyPass ATMs; cash deposits via Green Dot network (fees and limits apply).
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.
Our pick for
24/7 customer support; unlimited fee-free cash deposits
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
$200
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
1% cash back + high APY
Grasshopper Business Checking Account
Learn more
at Grasshopper Bank, Member FDIC
APY
1.51%
With $0 min. balance for APY
Monthly fee
$0
Min. opening deposit
$100
Free cash deposits
No
No cash deposits.
Overdraft fees
$0
Sign-up bonus
$0
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
1.51%
APY on all balances. 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 1.51% APY.
- No monthly fees or overdraft charges.
- Free, built-in bookkeeping software.
Cons
- Can’t deposit cash.
- $100 minimum opening deposit.
Our pick for
Multiple business checking accounts (up to 20)
Relay
Learn more
at Relay, Deposits are FDIC Insured
APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
No
No cash deposits.
Overdraft fees
$0
Sign-up bonus
$0
Relay is a free online banking platform with no minimum balance requirements and unlimited fee-free transactions. Relay has no overdraft fees, includes free incoming wires and allows you to withdraw cash fee-free at over 32,000 Allpoint ATMs.
With the Relay platform, you can have up to 20 business checking accounts (10 for sole proprietorships) and up to 50 business debit cards. You can invite your team members to your account and assign them user permissions, as well as automate their spending limits.
In addition, Relay gives you the ability to connect your bank feeds directly to QuickBooks Online or Xero and integrates with Gusto, Plaid and Stripe. You also can pay bills — setting up automatic rules and approvals — right from your account.
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions; no overdraft fees.
- No foreign transaction fees when you use your Relay Mastercard abroad.
- Supports multiple accounts; employee debit cards with transaction and withdrawal limits.
Cons
- Can't deposit cash or order checks.
- Limited phone support. Email support available seven days a week.
- Deposited checks are held for up to 6-7 business days.
Our pick for
Refunds on all ATM fees worldwide
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
$27
Sign-up bonus
$0
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 QuickBooks, Xero, Stripe and Shopify.
Cons
- Can’t deposit cash.
- Can’t send domestic or international wires.
- No recurring payments available with bill pay.
- $27 fees for insufficient funds/uncollected funds returned.
Our pick for
Free domestic and international wire transfers
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
Sign-up bonus
$0
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
- Not available to sole proprietors.
- Can’t deposit cash.
Our pick for
Built-in invoicing and bookkeeping
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
No cash deposits.
Overdraft fees
$0
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.
Found does not accept cash deposits. You can’t pay by or deposit checks, either. 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
- Can’t deposit cash; can’t deposit checks or pay by check.
- No weekend or after-hours customer support.
- Have to open account in your name, not business name, and use your SSN to apply. (Business EIN can be added later.)
Our pick for
Unlimited fee-free cash deposits via MoneyPass ATMs
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
Sign-up bonus
$0
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.
Cons
- High fee ($45) for international wire transfers.
- No weekend or after-hours customer support.
- No third-party app integrations.
Our pick for
Up to 5% cash back at select merchants
Oxygen Business Account
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
Sign-up bonus
$0
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
APY
0.01%
With $0 min. balance for APY
Monthly fee
$0
Min. opening deposit
$255
Free cash deposits
Yes
Unlimited
Overdraft fees
$29
Sign-up bonus
$0
Our pick for
High-yield business checking; 24/7 customer support
American Express® Business Checking
APY
1.30%
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
No
No cash deposits.
Overdraft fees
$0
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.
- Mobile check deposit (via app) is only available on Apple iOS.
- Only available to American Express customers.
Our pick for
Free business account from a brick-and-mortar bank
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
$400
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 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
Overdraft grace period
Huntington Business Checking 100
APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
No
Up to $5,000 per month.
Overdraft fees
$36
Sign-up bonus
$0
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.
Our pick for
Freelancers
Lili 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
Sign-up bonus
$0
Lili’s suite of digital tools is what really makes this online business account stand out, especially 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. You can also easily separate (or split) business and personal expenses if you use your account for both, and automatically save a percentage of your income for taxes.
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions.
- No fees at MoneyPass ATMs.
- Cash deposits via Green Dot network (fees and limits apply).
- Integrated tools for managing expenses and planning for taxes.
- Early payment feature with direct deposit allows you to receive funds up to two days sooner than you might 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 or receive wire transfers.
- Limited business-related features: no joint accounts, limited to one business debit card, no third-party integrations.
Finding a small-business checking account with no monthly fees is a great start, but you also want to factor in things like account limits or transaction caps that could cost your business money.
- Consider your business's needs. Every business operates differently. Some make regular cash deposits, while others deal solely with electronic transactions. Some need bookkeeping and invoicing tools, while others have established systems in place. The unique needs of your small business will determine your priority features in a business checking account.
- Look at monthly and incidental fees. Pay close attention to the fine print. Some free business checking accounts charge for out-of-network ATM use, cash deposits, wire transfers and overdrafts.
- Examine transaction and cash deposit limits. Free business accounts from brick-and-mortar banks typically limit cash deposits and cap free transactions on business checking accounts. Online accounts, by comparison, offer unlimited transactions but may not accommodate cash deposits. Look for business accounts that don't place strict limits on how you use your account. See NerdWallet's picks for best business bank accounts for cash deposits, branch access and more.
- Factor in additional perks and features. Some business checking accounts earn interest or offer cash back when you use your business debit card (a few offer both). And many offer additional features, like bookkeeping software, tax-planning tools and free invoicing. Weigh these perks and benefits when choosing an account.
- Decide how you want to open an account. Convenience is key when choosing a business account, including how easy it is to open. You can open a business checking account online in minutes with digital banks and even some brick-and-mortar banks. Others banks require you to open a business account in person and a few give you the option to do so over the phone.
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.
If none of the above options are available in your state and you would rather bank in person, or if you prefer a smaller bank, check out the options below:
Last updated on January 3, 2023
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
Most online banks and business accounts offer free business checking, including Relay, NBKC, Axos and American Express. Free small-business checking accounts are available from local, national and regional banks, too, including:
- U.S. Bank: Silver Business Checking Package.
- Huntington Bank: Business Checking 100.
- Truist: Simple Business Checking.
- Citizens Bank: Clearly Better Business Checking.
- First Citizens Bank: Business Banking.
Scroll up for a state-by-state breakdown of banks that offer free business checking accounts.
Most online business checking accounts can be opened online with no deposit. A few examples include BlueVine Business Checking, Axos Basic Business Checking, the NBKC Business Account and Huntington Business Checking 100. Each of these business checking accounts has no monthly fees and no minimum deposit requirements, and they can all be opened online.
Although it’s less common, you may also find some regional and local banks that allow you to sign up for a free business checking account online with no minimum opening deposit.