Best Online Business Bank Accounts of December 2023

Pros

• No monthly fees or minimum opening deposit.
• Unlimited fee-free transactions; no overdraft fees.
• Earn 2.00% interest on account balances up to and including $250,000. Terms apply.
• Access up to $3 million in FDIC insurance with Insured Cash Sweep.

Cons

• Cash deposits limited to $500 per deposit, $2,000 per day. Service fee of up to $4.95 per deposit.
• Fee for using out-of-network ATMs.
• No joint accounts or employee debit cards.

Pros

• No monthly fees or minimum opening deposit.
• Unlimited fee-free transactions; no overdraft fees.
• Free, built-in invoicing, bookkeeping and tax-planning features.
• Integrates with popular business apps, including Stripe, Etsy and PayPal.

Cons

• Weekend and after-hours support via email only.
• Have to open account in your name, not business name, and use your SSN to apply. (Business EIN can be added later.)
• No outgoing wires. Can’t pay by check.
• Cash deposits limited to $1,000 per week; $4,000 per month. A $2 service fee applies.

Pros

• Unlimited 1% cash back on qualified debit card purchases.
• Earn up to 2.25% APY.
• No monthly fees or overdraft charges.
• Free, built-in bookkeeping software.

Cons

• Can’t deposit cash.
• $100 minimum opening deposit.
• No weekend support.

Pros

• No minimum opening deposit.
• Unlimited fee-free electronic transactions.
• Integrated credit card processing.
• Welcome bonus for new customers (terms apply).
• No overdraft fee unless account is overdrawn by more than $50; 24-hour grace period applies to overdrafts beyond that amount.

Cons

• $15 monthly fee.
• Monthly limit on fee-free cash deposits ($5,000) and physical transactions (20).
• Fee for using out-of-network ATMs.

Pros

• No monthly fees or transaction 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.
• Cash deposits limited to $1,000 per day, $9,000 per month. Service fee of up to $4.95 per deposit.
• No checkbooks; can’t send wire transfers.

Pros

• No monthly fees or minimum opening deposit.
• Unlimited fee-free transactions.
• Automatic refunds of all ATM fees (domestic).
• Cash deposits via MoneyPass and AllPoint ATMs.
• 24/7 customer support.
• Welcome bonus for new customers (terms apply).

Cons

• $25 fee for insufficient funds/uncollected funds returned.
• No third-party app integrations.

Pros

• No monthly fees or minimum opening deposit.
• Unlimited fee-free transactions; no overdraft or incidental fees.
• Up to $12 in monthly refunds for ATM fees charged by other banks worldwide.
• Cash deposits via MoneyPass ATMs.
• Accept contactless payments via the NBKC app (iOS only). Fees apply.

Cons

• High fee ($45) for international wire transfers.
• No weekend or after-hours customer support.
• No third-party app integrations.

Pros

• Unlimited fee-free transactions; no overdraft fees.
• Earn 1.50% APY on balances up to $100,000 and 0.10% on all balances after that.
• Fee-free ATM access with automatic refund of third-party ATM fees (worldwide).
• Cash deposits via MoneyPass and SUM ATMs.
• Earn unlimited 1% cash back on debit card purchases.

Cons

• $10 monthly fee.
• $100 minimum opening deposit requirement.
• Minimum $500 balance required to earn cash-back rewards and waive monthly fee.

Pros

• Fee-free electronic transactions.
• High cash deposit limits.
• Business accounts can be opened entirely online.

Cons

• No free business checking account option.
• $100 minimum opening deposit.
• Fee for using out-of-network ATMs.

Pros

• No monthly service fee for Silver Business Checking account.
• Business accounts can be opened entirely online.
• Optional payment processing services ranging from mobile apps to in-store payment terminals. Additional fees apply.
• Welcome bonus for new customers (terms apply).

Cons

• Low cash deposit limits.
• Terms and fees are not easily accessible via the bank’s website.

Pros

• No monthly fees or minimum opening deposit.
• Unlimited fee-free transactions.
• 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.

Pros

• No monthly fees or minimum opening deposit.
• Unlimited fee-free transactions; no overdraft fees.
• No fees at Allpoint ATMs.
• Free domestic and international wire transfers.
• Advanced digital tools including API access to automate and customize your banking.

Cons

• Limited phone support. Weekend and after-hours support via email only.
• Can’t deposit cash.

Pros

• More branch locations than any bank in the U.S.
• Business accounts can be opened entirely online.
• Extended customer service availability.

Cons

• No free business checking account option.
• Stingy transaction allowance.
• Fees for using out-of-network ATMs.

Pros

• 24/7 live customer service.
• Some branches are open late and on weekends, including Sundays.
• No overdraft fee unless account is overdrawn by more than $50; 24-hour grace period applies to overdrafts beyond that amount.
• Accounts can be opened entirely online.

Cons

• No free business checking account option.
• Fee for using out-of-network ATMs.
• Monthly limit on fee-free cash deposits and transactions.
• Accounts only available in 15 states and the District of Columbia.

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 Mastercard abroad.

Cons

• Limited phone support. Email support available seven days a week.
• Deposited checks are held for up to 6-7 business days.

Pros

• Industry-leading APY.
• No minimum balance to earn interest.
• No monthly fee or minimum deposit.
• Access up to $10 million in FDIC insurance with Insured Cash Sweep.

Cons

• No ATM or debit card access.
• No weekend customer support.