10 Best Free Small-Business Checking Accounts of July 2022
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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.
Though these institutions offer free small-business checking accounts with no monthly fees, they could still charge fees for other actions, such as having 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.
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.
Though these institutions offer free small-business checking accounts with no monthly fees, they could still charge fees for other actions, such as having 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.
Earning interest
Checking
Deposits are FDIC Insured
5.0
/5 NerdWallet ratingat Bluevine
Free ATM access
at Novo
Multiple accounts
at Relay
LLC creation
Startups
at Mercury
24/7 customer service
Cash deposits
at Axos Bank®
Add-on business solutions
Military families
Checking
Federally insured by NCUA
5.0
/5 NerdWallet ratingEarning rewards
at Brex
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 May 23, 2022
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To recap our selections...
NerdWallet's Summary of the Best Free Business Checking Accounts of July 2022
- Bluevine Business Checking: Best for Earning interest
- Novo Business Checking: Best for Free ATM access
- Relay: Best for Multiple accounts
- Oxygen Business Account: Best for LLC creation
- Mercury Business Bank Account: Best for Startups
- American Express® Business Checking: Best for 24/7 customer service
- Axos Bank® Basic Business Checking: Best for Cash deposits
- nbkc Business Account: Best for Add-on business solutions
- Navy Federal Credit Union Business Checking: Best for Military families
- Brex Cash: Best for Earning rewards
Frequently asked questions
Free small-business checking accounts are available from banks nationally, by state and by region.
Some big-name banks that offer free business checking accounts include:
- Citizens Bank: Clearly Better Business Checking. - Huntington National Bank: Business Checking 100. - U.S. Bank: Silver Business Checking Package. - First Citizens Bank: Basic Business Checking.
Some online banks that offer free business checking accounts include:
- BlueVine: Business Checking. - NBKC: Business Account. - Novo: Business Checking. - Kabbage: Business Checking.
Scroll up for a state-by-state breakdown of banks that offer free business checking accounts.
If you want to open a free business checking account online with no deposit, you can do so with the BlueVine Business Checking account, NBKC Business Account and Huntington Business Checking 100 account.
All three of these business checking accounts have 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.
