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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.

Our pick for

Earning interest

Bluevine Business Checking

Checking

Deposits are FDIC Insured

5.0

/5
 NerdWallet rating 
Monthly fee
$0
APY
1.50%
With $0 min. balance for APY
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 1.50% 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.
Our pick for

Free ATM access

Novo Business Checking

Checking

Deposits are FDIC Insured

5.0

/5
 NerdWallet rating 
Monthly fee
$0
APY
N/A
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.
Our pick for

Multiple accounts

Relay

Checking

Deposits are FDIC Insured

5.0

/5
 NerdWallet rating 
Monthly fee
$0
APY
N/A
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 Gusto, Plaid and Stripe. You also can pay bills — setting up automatic rules and approvals — right from your account.
Our pick for

LLC creation

Oxygen Business Account

Checking

Deposits are FDIC Insured

5.0

/5
 NerdWallet rating 
Monthly fee
$0
APY
N/A
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 (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.
Our pick for

Startups

Mercury Business Bank Account

Checking

Deposits are FDIC Insured

5.0

/5
 NerdWallet rating 
Monthly fee
$0
APY
N/A
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.
Our pick for

24/7 customer service

American Express® Business Checking

Checking

Member FDIC

5.0

/5
 NerdWallet rating 
Monthly fee
$0
APY
1.10%
Min. opening deposit
$0
Why we like it
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 (1.10% 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).
Our pick for

Cash deposits

Axos Bank® Basic Business Checking

Checking

Member FDIC

5.0

/5
 NerdWallet rating 
Monthly fee
$0
APY
N/A
Min. opening deposit
$0
Learn more

at Axos Bank®

Why we like it
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.
Our pick for

Add-on business solutions

nbkc Business Account

Checking

Member FDIC

5.0

/5
 NerdWallet rating 
Monthly fee
$0
APY
N/A
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.
Our pick for

Military families

Navy Federal Credit Union Business Checking

Checking

Federally insured by NCUA

5.0

/5
 NerdWallet rating 
Monthly fee
$0
APY
0.01%
With $0 min. balance for APY
Min. opening deposit
$255
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.
Our pick for

Earning rewards

Brex Cash

Cash management

5.0

/5
 NerdWallet rating 
Monthly fee
$0
APY
N/A
Min. opening deposit
$0
Why we like it
Brex Cash technically isn’t a checking account but it offers many of the same features, plus a few enhancements. The cash management account has no monthly fee or opening deposit and includes unlimited fee-free transactions (ACH, checks and wire transfers).
Brex Cash customers can split funds between an FDIC-insured bank account and a money market account. The latter has a 0.03% seven-day yield (as of this writing). Plus, the account includes the Brex rewards credit card, which earns up to 8x points.
The downsides: Brex customers can’t withdraw or deposit cash via ATMs. And Brex is not available to sole proprietors or other unincorporated businesses.

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

Discover Bank Online Savings

5.0

NerdWallet rating 
Discover Bank Online Savings

APY

1.00%

With $0 min. balance for APY

Bonus

$200

Requirements to qualify

at Discover Bank, Member FDIC

LendingClub High-Yield Savings

5.0

NerdWallet rating 
LendingClub High-Yield Savings

APY

1.26%

With $0 min. balance for APY

at LendingClub Bank, Member FDIC

American Express® High Yield Savings Account

4.5

NerdWallet rating 
American Express® High Yield Savings Account

APY

1.00%

With $1 min. balance for APY

at American Express National Bank, Member FDIC

To recap our selections...

NerdWallet's Summary of the Best Free Business Checking Accounts of July 2022

Frequently asked questions