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14 Best Free Business Checking Accounts

Randa KrissAug 19, 2021

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The best free business checking accounts don’t have minimum balance requirements or monthly service fees. Although online banks can be more likely to offer free business checking, these accounts are available from national and regional brick-and-mortar banks as well.

Keep in mind that even though these institutions may offer a free business checking account with no monthly fees, you could still be charged for other actions — such as excess transactions, excess deposits or overdrafts.

NerdWallet looked at some of the biggest national, regional and online banks and compared their business checking accounts. Here are our top options for free business checking. Plus, scroll down to find the best free business checking accounts by state.

Summary of Best Free Business Checking Accounts

Novo Business Checking
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at Novo, Deposits are FDIC Insured

Novo Business Checking

4.0

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 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.

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Mercury Business Bank Account
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at Mercury, Deposits are FDIC Insured

Mercury Business Bank Account

4.5

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 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.

Plus, businesses that can hold a balance of more than $250,000 in their account are eligible for a Mercury Team Room account, which offers a range of additional perks.

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Relay
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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 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 Expensify, Gusto, Plaid and Wise. You also can pay bills — setting up automatic rules and approvals — right from your account.

Axos Bank® Basic Business Checking
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at Axos Bank®, Member FDIC

Axos Bank® Basic Business Checking

3.5

NerdWallet rating 
Axos Bank® Basic Business Checking

Monthly Fee

$0

APY

N/A

Min. Opening Deposit

$1,000
Learn more

at Axos Bank®, Member FDIC


Min. Opening Deposit

$1,000

Why we like it

The Axos Basic Business Checking account has no monthly maintenance fees but requires a minimum deposit of $1,000 to open the account. This online business checking account includes 200 fee-free transactions per month, 30 cents per transaction after that.

In addition, you receive 60 fee-free mobile check deposits per month, with the same 30 cents fee for each excess transaction.

With the Axos Basic Business Checking account, you can use any ATM in the U.S. and receive unlimited domestic ATM fee reimbursements. This account can accommodate cash withdrawals only, however — you cannot deposit cash with this free business checking option.

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Oxygen Business Account

4.0

NerdWallet rating 
Oxygen Business Account

Monthly Fee

$0

APY

N/A

Min. Opening Deposit

$0

Min. Opening Deposit

$0

Why we like it

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.

Plus, the Oxygen business account stands out in that it 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.

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nbkc Business Account

5.0

NerdWallet rating 
nbkc Business Account

Monthly Fee

$0

APY

N/A

Min. Opening Deposit

$0

Min. Opening Deposit

$0

Why we like it

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.

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BBVA USA Business Connect Checking

4.0

NerdWallet rating 
BBVA USA Business Connect Checking

Monthly Fee

$0

APY

N/A

Min. Opening Deposit

$100

Min. Opening Deposit

$100

Why we like it

The BBVA Business Connect Checking is a free business checking account with no monthly fees and no monthly balance requirement — you’ll just need a minimum $100 deposit to open an account.

With this account, you can process up to $5,000 in cash per month for free, and pay $0.003 per dollar after that ($3 per $1,000). In addition, you can make up to five withdrawals and/or process checks at a branch for free per month, with $1 charged for every withdrawal or processed check in-branch after that.

You also have up to two free in-branch deposits per month, $4 per in-branch deposit after that. Other transactions not mentioned are unlimited and free.

Unless you’re a sole proprietorship, you’ll need to visit a branch to apply for this account. BBVA has almost 650 branches across Alabama, Arizona, California, Colorado, Florida, New Mexico and Texas, and over 43,000 surcharge-free ATMs nationwide.

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U.S. Bank Silver Business Checking

4.0

NerdWallet rating 
U.S. Bank Silver Business Checking

Monthly Fee

$0

APY

N/A

Min. Opening Deposit

$0

Min. Opening Deposit

$0

Why we like it

The U.S. Bank Silver Business Package is a free small-business checking account designed for newer and smaller businesses, offering up to 125 fee-free transactions per month, including deposits, debit card purchases and online payments. After you reach the 125 transaction-threshold, you’ll face a 50-cent fee per additional transaction.

This account also includes up to 25 free cash deposits per month. Cash deposits are calculated in terms of units — you can calculate a unit by dividing the amount by 100, then round to a whole number. For example, a $175 cash deposit is two units: 1.75 rounded up to two.

After you reach the 25-unit limit, there’s a small charge for additional cash deposits. Fees vary by state.

You can apply for this business checking account online or by visiting a branch location. U.S. Bank has more than 2,500 branches across 28 states.

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Citizens Bank Clearly Better Business Checking®

4.5

NerdWallet rating 
Citizens Bank Clearly Better Business Checking®

Monthly Fee

$0

APY

N/A

Min. Opening Deposit

$1

Min. Opening Deposit

$1

Why we like it

The Citizens Bank Clearly Better Business Checking account has no monthly service fees and no minimum balance required to open an account. With this account, you receive up to 200 fee-free check transactions per month, 50 cents per additional transaction.

In addition, you have access to online, mobile and phone banking, as well as more than 1,100 Citizens Bank branches and over 3,100 fee-free in-network ATMs.

This free business checking account also offers overdraft coverage and extended customer support hours. To apply for a Citizens Bank Clearly Better Business Checking account, you will have to visit a branch location. Citizens Bank is located in 11 states, mostly in the Northeast.

Read Full Review

Navy Federal Credit Union Business Checking

5.0

NerdWallet rating 
Navy Federal Credit Union Business Checking

Monthly Fee

$0

APY

0.01%

With $0 minimum balance

Min. Opening Deposit

$0

Min. Opening Deposit

$0

Why we like it

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.

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Huntington Business Checking 100

3.5

NerdWallet rating 
Huntington Business Checking 100

Monthly Fee

$0

APY

N/A

Min. Opening Deposit

$0

Min. Opening Deposit

$0

Why we like it

The Huntington Business Checking 100 account is a free account designed for startups and smaller businesses with average balances less than $5,000 and low checking activity.

With this account, you receive 100 monthly transactions for free; subsequent transactions have a fee of 50 cents. In addition, you have the ability to deposit up to $5,000 in cash per month; after that, you’ll pay 30 cents for every $100 in cash deposited.

The Huntington Business Checking 100 offers free online banking, free bill pay and has the option to sign up for an account online or visit a branch location. You must be operating in an eligible state, however, in order to apply for an account.

Read Full Review

First Citizens Bank Basic Business Checking

3.5

NerdWallet rating 
First Citizens Bank Basic Business Checking

Monthly Fee

$0

APY

N/A

Min. Opening Deposit

$100

Min. Opening Deposit

$100

Why we like it

First Citizens Bank offers its free Basic Business Checking account with no minimum balance requirements (after an initial $100 deposit) and no monthly fees when enrolled in paperless statements. This account includes up to 175 fee-free transactions per month, after that, you’ll pay 50 cents per transaction.

In addition, you’ll receive up to $5,000 in coin and currency processing per month, after that, there's a fee of 20 cents per $100 deposited. This account includes online and mobile banking access, a free Visa business debit card and fee-free access to any First Citizens ATM or branch.

First Citizens has branch locations in 19 states across the U.S. Existing business customers can apply for an account online using their digital banking login. Other business owners can visit a branch to apply.

Read Full Review

BlueVine Business Checking

5.0

NerdWallet rating 
BlueVine Business Checking

Monthly Fee

$0

APY

1.00%

With $0 minimum balance

Min. Opening Deposit

$0

Min. Opening Deposit

$0

Why we like it

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 1% interest on your account balance up to $100,000.

In addition, BlueVine Business Checking offers free ATM access through the MoneyPass network — with the ability to deposit cash (up to $7,500 per month with a $4.95 fee per deposit) at Green Dot locations across the U.S.

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

Read Full Review

Kabbage Checking™

5.0

NerdWallet rating 
Kabbage Checking™

Monthly Fee

$0

APY

1.10%

With $0 minimum balance

Min. Opening Deposit

$0

Min. Opening Deposit

$0

Why we like it

Kabbage Checking is a simple, affordable banking option for small-business owners. The online business checking account has no monthly fee, no minimum opening deposit requirement and no minimum balance requirement.

As of this writing, customers earn 1.10% APY on balances up to $100,000 and enjoy unlimited electronic transactions. Kabbage Checking also offers fee-free access to 19,000 Allpoint ATMs.

You can deposit funds through the Kabbage mobile app (checks), at participating Green Dot locations (cash), or via direct deposit, incoming wire transfer or a transfer from another financial institution. There is no fee for incoming domestic wire transfers but cash deposits may incur a fee of up to $4.95 per deposit from the Green Dot retailer.

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How to choose a free business checking account

  • Consider fees and minimum balance requirements. Look for business checking accounts that have no monthly service fees and no minimum balance requirements. And pay close attention to the fine print — some accounts are free only if you maintain a daily or monthly minimum balance or can meet another qualification to waive the service fee.

  • Look at transaction and cash deposit limits. Evaluate how many monthly transactions your business makes and how much cash it deposits. Many business checking accounts place limits on transaction and cash deposits (and charge fees for exceeding those limits), so you’ll want to select an account that meets your needs.

  • Evaluate additional account features. Consider where you can use your business debit card, if an account earns interest and whether it includes online and mobile banking tools. Make sure you understand any features that may incur incidental fees or charges.

  • Think about how you would prefer to open an account. Some banks provide multiple options for opening a business checking account — online, over the phone, visiting a branch — while others limit the options.

» Want to see the best overall accounts? Check out our picks for the best business checking accounts.

Free business checking accounts by state

If none of the above options are available in your state and you would rather bank in person or you prefer a smaller bank, check out the options below:

Last updated on August 19, 2021

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People often identify opening a savings account as their next money move.

Marcus by Goldman Sachs Online Savings Account

4.5

NerdWallet rating 
Marcus by Goldman Sachs Online Savings Account

APY

0.50%
With $0 minimum balance

Bonus

N/A

at Marcus by Goldman Sachs, Member FDIC

American Express® High Yield Savings Account

4.5

NerdWallet rating 
American Express® High Yield Savings Account

APY

0.40%
With $1 minimum balance

Bonus

N/A

at American Express National Bank, Member FDIC

Axos Bank® High Yield Savings

4.0

NerdWallet rating 
Axos Bank® High Yield Savings

APY

0.61%
With $0 minimum balance

Bonus

N/A

at Axos Bank®, Member FDIC

Methodology

To determine the best accounts, we took a close look at about 70 financial institutions, including the largest U.S. banks based on assets, debit card volume, Internet search traffic and other factors; the nation's largest credit unions, based on deposits as well as broad-based membership requirements; and other notable and/or emerging players in the industry. We rated them on criteria including annual percentage rates, minimum balances, fees, digital experience and more.

Financial institutions surveyed include: Alaska USA Federal Credit Union, Alliant Credit Union, Ally Bank, America First Credit Union, American Express, Aspiration, Associated Bank, Axos Bank, Bank5 Connect, Bank7, Bank of America, Bank of the West, Barclays, BB&T, BBVA Compass, Boeing Employees Credit Union, BMO Harris, Capital One 360, Charles Schwab Bank, Chase, Chime, CIT, Citibank, Citizens Access, Citizens Bank, Comerica Bank, Commerce Bank, Connexus Credit Union, Consumers Credit Union, Discover Bank, E-Trade, Fidelity, Fifth Third Bank, First National Bank, First Tech Federal Credit Union, GoBank, Golden 1 Credit Union, GS Bank, HSBC Bank USA, Huntington Bank, KeyBank, MetaBank, M&T Bank, Moven, Navy Federal Credit Union, Pentagon Federal Credit Union, PNC, Popular Direct, PurePoint Financial, Radius Bank, Redneck Bank, Regions Bank, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Service Credit Union, Simple, State Employees' Credit Union of North Carolina, State Farm Bank, Suncoast Credit Union, SunTrust Bank, Synchrony Bank, TCF Bank, TD Bank, TIAA Bank, Union Bank, UFB Direct, USAA, U.S. Bank, Varo, Wells Fargo and Zions Bank.

Frequently asked questions