Best Free Business Checking Accounts
Best Free Business Checking Accounts
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With $0 min. balance for APY
Requirements to qualify
at Bluevine, Deposits are FDIC Insured
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions; no overdraft fees.
- Earn 1.50% interest on account balances up to and including $250,000. Terms apply.
- Access up to $3 million in FDIC insurance with Insured Cash Sweep.
- No fees at MoneyPass ATMs.
- Free incoming wires and low outgoing wire transfer fees.
Cons
- Fee for cash deposits.
- Fee for using out-of-network ATMs.
- Does not offer jointly-owned accounts.
Bluevine Business Checking
Best for Earning interest
With $0 min. balance for APY
Requirements to qualify
at Bluevine, Deposits are FDIC Insured
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions; no overdraft fees.
- Earn 1.50% interest on account balances up to and including $250,000. Terms apply.
- Access up to $3 million in FDIC insurance with Insured Cash Sweep.
- No fees at MoneyPass ATMs.
- Free incoming wires and low outgoing wire transfer fees.
Cons
- Fee for cash deposits.
- Fee for using out-of-network ATMs.
- Does not offer jointly-owned accounts.
With $0 min. balance for APY
at American Express National Bank, Member FDIC
Pros
- No monthly fees or minimum opening deposit.
- No excess transaction fees and no charge for domestic incoming wires.
- Earn 1.30% APY on balances up to $500,000.
- 24/7 customer support.
- No fees on withdrawals at more than 70,000 MoneyPass and Allpoint ATMs in the U.S.
Cons
- Can’t deposit cash.
- No outgoing international wire transfers.
American Express® Business Checking
Best for 24/7 customer support
With $0 min. balance for APY
at American Express National Bank, Member FDIC
Pros
- No monthly fees or minimum opening deposit.
- No excess transaction fees and no charge for domestic incoming wires.
- Earn 1.30% APY on balances up to $500,000.
- 24/7 customer support.
- No fees on withdrawals at more than 70,000 MoneyPass and Allpoint ATMs in the U.S.
Cons
- Can’t deposit cash.
- No outgoing international wire transfers.
Requirements to qualify
at U.S. Bank, Member FDIC
Pros
- No monthly service fee for Silver Business Checking account.
- Welcome bonus for new customers (terms apply).
- No fees at U.S. Bank and MoneyPass ATMs.
Cons
- Low cash deposit limits.
- Limit of 125 fee-free transactions per month.
- $1 fee for outgoing domestic ACH transfers.
U.S. Bank Silver Business Checking
Best for Welcome bonus + branch access
Requirements to qualify
at U.S. Bank, Member FDIC
Pros
- No monthly service fee for Silver Business Checking account.
- Welcome bonus for new customers (terms apply).
- No fees at U.S. Bank and MoneyPass ATMs.
Cons
- Low cash deposit limits.
- Limit of 125 fee-free transactions per month.
- $1 fee for outgoing domestic ACH transfers.
With $25,000 min. balance for APY
at Grasshopper Bank, Member FDIC
Pros
- Unlimited 1% cash back on qualified debit card purchases.
- Earn up to 1.80% APY.
- No monthly fees or overdraft charges.
- Free, built-in bookkeeping software.
Cons
- Can’t deposit cash.
- $100 minimum opening deposit.
- No weekend support.
Grasshopper Business Checking Account
Best for 1% cash back on debit card purchases
With $25,000 min. balance for APY
at Grasshopper Bank, Member FDIC
Pros
- Unlimited 1% cash back on qualified debit card purchases.
- Earn up to 1.80% APY.
- No monthly fees or overdraft charges.
- Free, built-in bookkeeping software.
Cons
- Can’t deposit cash.
- $100 minimum opening deposit.
- No weekend support.
Requirements to qualify
at Axos Bank®, Member FDIC
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions and free incoming wires.
- Automatic refunds of all ATM fees (domestic).
- Cash deposits via AllPoint ATMs.
- Welcome bonus for new customers (terms apply).
Cons
- $25 fee for insufficient funds/uncollected funds returned.
- No third-party app integrations.
Axos Bank® Basic Business Checking
Best for Unlimited ATM fee refunds
Requirements to qualify
at Axos Bank®, Member FDIC
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions and free incoming wires.
- Automatic refunds of all ATM fees (domestic).
- Cash deposits via AllPoint ATMs.
- Welcome bonus for new customers (terms apply).
Cons
- $25 fee for insufficient funds/uncollected funds returned.
- No third-party app integrations.
Requirements to qualify
at Relay, Deposits are FDIC Insured
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 Visa® Debit abroad.
- Free incoming wires and low outgoing wire transfer fees.
Cons
- Deposited checks are held for up to 6-7 business days.
- No bill pay feature in the free plan.
Relay Business Checking
Best for Multiple accounts (up to 20)
Requirements to qualify
at Relay, Deposits are FDIC Insured
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 Visa® Debit abroad.
- Free incoming wires and low outgoing wire transfer fees.
Cons
- Deposited checks are held for up to 6-7 business days.
- No bill pay feature in the free plan.
at nbkc bank, Member FDIC
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions, no overdraft fees and free incoming domestic wires.
- Up to $12 in monthly refunds for ATM fees charged by other banks worldwide.
- Unlimited cash deposits via MoneyPass and Allpoint ATMs.
- Accept contactless payments via the NBKC app (iOS only). Fees apply.
Cons
- High fee ($45) for international wire transfers.
- Phone support only available during business hours.
- No third-party app integrations.
nbkc Business Account
Best for Cash deposits
at nbkc bank, Member FDIC
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions, no overdraft fees and free incoming domestic wires.
- Up to $12 in monthly refunds for ATM fees charged by other banks worldwide.
- Unlimited cash deposits via MoneyPass and Allpoint ATMs.
- Accept contactless payments via the NBKC app (iOS only). Fees apply.
Cons
- High fee ($45) for international wire transfers.
- Phone support only available during business hours.
- No third-party app integrations.
Requirements to qualify
at Found, Deposits are FDIC Insured
Pros
- No monthly fees or minimum opening deposit.
- No excess transaction fees or overdraft fees; free incoming domestic wires.
- Free, built-in invoicing, bookkeeping and tax-planning features.
- Integrates with popular business apps, including Stripe, Etsy and PayPal.
Cons
- No weekend or after-hours phone support.
- Only available to single-owner businesses.
- Low check and cash deposit limits; fee for cash deposits.
Found Small Business Banking
Best for Freelancers and self-employed workers
Requirements to qualify
at Found, Deposits are FDIC Insured
Pros
- No monthly fees or minimum opening deposit.
- No excess transaction fees or overdraft fees; free incoming domestic wires.
- Free, built-in invoicing, bookkeeping and tax-planning features.
- Integrates with popular business apps, including Stripe, Etsy and PayPal.
Cons
- No weekend or after-hours phone support.
- Only available to single-owner businesses.
- Low check and cash deposit limits; fee for cash deposits.
Requirements to qualify
at Novo, Deposits are FDIC Insured
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions and free incoming wires.
- 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.
- No bill pay feature.
Novo Business Checking
Best for Built-in invoicing
Requirements to qualify
at Novo, Deposits are FDIC Insured
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions and free incoming wires.
- 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.
- No bill pay feature.
at Lili, Deposits are FDIC Insured
Pros
- No monthly fees, transaction fees or incoming wire 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.
- Third-party fees for cash deposits (via Green Dot).
- Low monthly limits for cash deposits, incoming ACH transfers.
- Bill pay not included; must upgrade to Lili Smart or higher.
Lili Basic Business Checking
Best for Early access to payments
at Lili, Deposits are FDIC Insured
Pros
- No monthly fees, transaction fees or incoming wire 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.
- Third-party fees for cash deposits (via Green Dot).
- Low monthly limits for cash deposits, incoming ACH transfers.
- Bill pay not included; must upgrade to Lili Smart or higher.
at Mercury, Deposits are FDIC Insured
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions; no overdraft fees.
- Free domestic and international wire transfers.
- Advanced digital tools including API access to automate and customize your banking.
Cons
- Can’t deposit cash.
- Mercury is not part of a fee-free ATM network.
Mercury Business Bank Account
Best for Free wire transfers
at Mercury, Deposits are FDIC Insured
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions; no overdraft fees.
- Free domestic and international wire transfers.
- Advanced digital tools including API access to automate and customize your banking.
Cons
- Can’t deposit cash.
- Mercury is not part of a fee-free ATM network.
With $0 min. balance for APY
Pros
- No monthly fees.
- Unlimited fee-free electronic transactions and free incoming wires.
- 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 veterans, military members, Department of Defense employees and their families.
Navy Federal Credit Union Business Checking
Best for Military families
With $0 min. balance for APY
Pros
- No monthly fees.
- Unlimited fee-free electronic transactions and free incoming wires.
- 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 veterans, military members, Department of Defense employees and their families.
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.
- Welcome bonus for new customers (terms apply).
- No fees at 1,600 Huntington ATMs and access to 1,000 branches.
Cons
- Fee for using out-of-network ATMs.
- Accounts only available in 11 states.
- Limit of $2,500 in free cash deposits per month.
Huntington Business Checking 100
Best for Overdraft grace period
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.
- Welcome bonus for new customers (terms apply).
- No fees at 1,600 Huntington ATMs and access to 1,000 branches.
Cons
- Fee for using out-of-network ATMs.
- Accounts only available in 11 states.
- Limit of $2,500 in free cash deposits per month.
💬 From our Nerds: Why so many of these accounts are from online banks
Account | Monthly fee | How the fee can be waived |
---|---|---|
Bank of America® Business Advantage Fundamentals™ Banking | $ 16 . | Maintain a $5,000 combined average monthly balance, spend $250 in net-new purchases on a BofA business debit card or become a member of the bank’s Preferred Rewards for Business program. |
BMO Simple Business Checking | $ 10 . | Maintain an average balance of at least $100. |
Chase Business Complete Banking® | $ 15 . | Maintain a minimum daily balance of $2,000, accept $2,000 per month via Chase QuickAccept transactions, make $2,000 in eligible purchases from a Chase Ink business credit card or meet Chase Military Banking requirements. |
CitiBusiness® Streamlined Checking | $ 15 . | Maintain an average collected balance of at least $5,000. |
LendingClub Tailored Checking | $ 10 . | Maintain a minimum balance of at least $500. |
PNC Business Checking | $ 12 . | Maintain an average monthly balance of $500, accept at least $500 monthly via linked merchant services or spend at least $500 monthly with a linked PNC credit card. |
TD Business Simple Checking℠ | $ 10 . | Be an eligible nonprofit. |
Wells Fargo Initiate Business Checking℠ Account | $ 10 . | Maintain a daily balance of at least $500 or average ledger balance of at least $1,000. |
- Understand your business's needs. Every business operates differently. Some make regular cash deposits, while others deal solely with electronic transactions. Some need built-in bookkeeping and invoicing, while others need their bank account to integrate with the tools they already use. The unique needs of your small business will determine your priority features in a business checking account.
- Look at upfront costs. You can open most free business accounts with no deposit, but a handful require at least $100 up front to open your account.
- Consider cash deposits. There's a lot of overlap between free and online business checking accounts. Online-only banks often have strict limits on how much cash you can deposit at once or charge fees for doing so. Some don't support cash deposits at all. If your business deals with cash, make sure to choose an account without those restrictions.
- Be aware of incidental fees and transaction limits. 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. Some also limit the number of transactions you can make each month for free. See NerdWallet's picks for the best business bank accounts to compare cash deposits, branch access and other features, and see below for more details about these fees.
- 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.
🤓 Nerdy Tip
Want to earn more interest on your company’s cash? Consider a business savings account in addition to your business checking account. These accounts are also often free and can pay APYs as high as 4% or more. You can easily open one online, too.