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10 Best Free Small-Business Checking Accounts of August 2022

Last updated on August 8, 2022

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The best free business checking accounts don’t have monthly service fees or minimum balance requirements, and many have axed other fees, like overdrafts and transaction fees. While online banks are more likely to offer free business checking, these accounts are available from national and regional brick-and-mortar banks, as well.
NerdWallet evaluated business checking accounts from dozens of financial institutions. We looked at fees, perks, APY and customer service availability, among other factors. Here are our top options for free business checking. Plus, scroll down to find the best free business checking accounts by state.

Best Free Small-Business Checking Accounts

Bank/institution
NerdWallet rating
Monthly fee
APY
Min. opening deposit
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Bluevine Business Checking

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at Bluevine, Deposits are FDIC Insured

5.0/5

Best for Earning interest

$0

1.50%

With $0 min. balance for APY

$0
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at Bluevine, Deposits are FDIC Insured

Relay

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at Relay, Deposits are FDIC Insured

5.0/5

Best for Midsize businesses

$0

N/A$0
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at Relay, Deposits are FDIC Insured

Novo Business Checking

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at Novo, Deposits are FDIC Insured

5.0/5

Best for Free ATM access

$0

N/A$0
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at Novo, Deposits are FDIC Insured

Mercury Business Bank Account

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at Mercury, Deposits are FDIC Insured

5.0/5

Best for Startups

$0

N/A$0
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at Mercury, Deposits are FDIC Insured

Axos Bank® Basic Business Checking

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at Axos Bank®, Member FDIC

5.0/5

Best for Cash deposits

$0

N/A$0
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at Axos Bank®, Member FDIC

Oxygen Business Account

5.0/5

Best for LLC creation

$0

N/A$0

American Express® Business Checking

5.0/5

Best for 24/7 customer service

$0

1.10%

$0

nbkc Business Account

5.0/5

Best for Add-on business solutions

$0

N/A$0

Navy Federal Credit Union Business Checking

5.0/5

Best for Military families

$0

0.01%

With $0 min. balance for APY

$255

Grasshopper Business Checking Account

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at Grasshopper Bank, Member FDIC

5.0/5

Best for Earning rewards

$0

1.00%

With $10,000 min. balance for APY

$100
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at Grasshopper Bank, Member FDIC

Our pick for

Earning interest

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at Bluevine, Deposits are FDIC Insured

Bluevine Business Checking

5.0
NerdWallet rating 
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at Bluevine, Deposits are FDIC Insured

APY

1.50%

Earn 1.50% on your balance up to and including $100,000

With $0 min. balance for APY

Monthly fee

$0

Min. opening deposit

$0

Our pick for

Midsize businesses

Learn more

at Relay, Deposits are FDIC Insured

Relay

5.0
NerdWallet rating 
Learn more

at Relay, Deposits are FDIC Insured

APY

N/A

Monthly fee

$0

Min. opening deposit

$0

Our pick for

Free ATM access

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at Novo, Deposits are FDIC Insured

Novo Business Checking

5.0
NerdWallet rating 
Learn more

at Novo, Deposits are FDIC Insured

APY

N/A

Monthly fee

$0

Min. opening deposit

$0

Our pick for

Startups

Learn more

at Mercury, Deposits are FDIC Insured

Mercury Business Bank Account

5.0
NerdWallet rating 
Learn more

at Mercury, Deposits are FDIC Insured

APY

N/A

Monthly fee

$0

Min. opening deposit

$0

Our pick for

Cash deposits

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at Axos Bank®, Member FDIC

Axos Bank® Basic Business Checking

5.0
NerdWallet rating 
Learn more

at Axos Bank®, Member FDIC

APY

N/A

Monthly fee

$0

Min. opening deposit

$0

Our pick for

LLC creation

Oxygen Business Account

5.0
NerdWallet rating 
APY

N/A

Monthly fee

$0

Min. opening deposit

$0

Our pick for

24/7 customer service

American Express® Business Checking

5.0
NerdWallet rating 
APY

1.10%

Monthly fee

$0

Min. opening deposit

$0

Our pick for

Add-on business solutions

nbkc Business Account

5.0
NerdWallet rating 
APY

N/A

Monthly fee

$0

Min. opening deposit

$0

Our pick for

Military families

Navy Federal Credit Union Business Checking

5.0
NerdWallet rating 
APY

0.01%

With $0 min. balance for APY

Monthly fee

$0

Min. opening deposit

$255

Our pick for

Earning rewards

Learn more

at Grasshopper Bank, Member FDIC

Grasshopper Business Checking Account

5.0
NerdWallet rating 
Learn more

at Grasshopper Bank, Member FDIC

APY

1.00%

0.50% APY applies to balances of $0.01—$9,999 and 1.00% APY applies to the entire balance on balances of $10,000 or more.

With $10,000 min. balance for APY

Monthly fee

$0

Min. opening deposit

$100

How to choose a small-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 if you meet a qualification for waiving 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 transactions and cash deposits (and charge fees for exceeding those limits), so you’ll want to select an account that meets your needs. See NerdWallet's picks for best business accounts for cash deposits, branch access and more.
  • 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 incidental fees you may incur for using account features.
  • 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.

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.

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 if you prefer a smaller bank, check out the options below:
Last updated on August 8, 2022

To recap our selections...

10 Best Free Small-Business Checking Accounts of August 2022

Frequently Asked Questions