Picks from our partners
Best Online Business Bank Accounts
Bank/institution | NerdWallet rating▼ | Monthly fee▼ | APY▼ | Bonus▼ | Learn more |
---|---|---|---|---|---|
Bluevine Business Checking Learn more at Bluevine, Deposits are FDIC Insured | 4.7/5 Best for High-yield business checking | $0 | 2.00% With $0 min. balance for APY | N/A | Learn more at Bluevine, Deposits are FDIC Insured |
Chase Business Complete Banking® Learn more at Chase, Member FDIC | 4.5/5 Best for Overdraft grace period | $15.00 Waived with $2,000 minimum balance | N/A | $300 Requirements to qualify | Learn more at Chase, Member FDIC |
American Express® Business Checking Learn more at American Express National Bank, Member FDIC | 5.0/5 Best for 24/7 customer support | $0 | 1.30% With $0 min. balance for APY | N/A | Learn more at American Express National Bank, Member FDIC |
nbkc Business Account Learn more at nbkc bank, Member FDIC | 4.9/5 Best for Unlimited fee-free cash deposits | $0 | N/A | N/A | Learn more at nbkc bank, Member FDIC |
Axos Bank® Basic Business Checking Learn more at Axos Bank®, Member FDIC | 5.0/5 Best for Cash deposits and withdrawals | $0 | N/A | $400 Requirements to qualify | Learn more at Axos Bank®, Member FDIC |
Bank of America® Business Advantage Fundamentals™ Banking Learn more at Bank of America, N.A., Member FDIC | 4.5/5 Best for Brick-and-mortar bank with high cash deposit limits | $16.00 | N/A | $200 Requirements to qualify | Learn more at Bank of America, N.A., Member FDIC |
Relay Business Checking Learn more at Relay, Deposits are FDIC Insured | 4.7/5 Best for Multiple accounts | $0 | N/A | $100 Requirements to qualify | Learn more at Relay, Deposits are FDIC Insured |
Grasshopper Business Checking Account Learn more at Grasshopper Bank, Member FDIC | 4.5/5 Best for Cash back + high APY | $0 | 2.25% With $0 min. balance for APY | N/A | Learn more at Grasshopper Bank, Member FDIC |
Found Small Business Banking Learn more at Found, Deposits are FDIC Insured | 4.4/5 Best for Freelancers and side hustlers | $0 | N/A | $20 Requirements to qualify | Learn more at Found, Deposits are FDIC Insured |
Lili Basic Business Checking Learn more at Lili, Deposits are FDIC Insured | 4.3/5 Best for Early access to payments | $0 | N/A | N/A | Learn more at Lili, Deposits are FDIC Insured |
U.S. Bank Silver Business Checking Learn more at U.S. Bank, Member FDIC | 4.0/5 Best for Sign-up bonus + no monthly fees | $0 | N/A | $800 Requirements to qualify | Learn more at U.S. Bank, Member FDIC |
LendingClub Tailored Checking | 4.9/5 Best for Cash back + ATM rebates | $10.00 Waived with $500 minimum balance | 1.50% With $0 min. balance for APY | N/A | |
Novo Business Checking Learn more at Novo, Deposits are FDIC Insured | 4.4/5 Best for Unlimited refunds on ATM fees | $0 | N/A | N/A | Learn more at Novo, Deposits are FDIC Insured |
Mercury Business Bank Account Learn more at Mercury, Deposits are FDIC Insured | 4.1/5 Best for Free wire transfers | $0 | N/A | N/A | Learn more at Mercury, Deposits are FDIC Insured |
Wells Fargo Initiate Business Checking℠ Account | 4.0/5 Best for Large ATM network | $10.00 Waived with $500 minimum balance | N/A | N/A | |
Live Oak Bank Business Savings Learn more at Live Oak Bank, Member FDIC | 5.0/5 Best for Business savings account | $0 | 4.00% With $0.01 min. balance for APY | $300 Requirements to qualify | Learn more at Live Oak Bank, Member FDIC |
Bank/institution | NerdWallet rating▼ | Monthly fee▼ | APY▼ | Bonus▼ | Learn more |
---|---|---|---|---|---|
Bluevine Business Checking Learn more at Bluevine, Deposits are FDIC Insured | 4.7/5 Best for High-yield business checking | $0 | 2.00% With $0 min. balance for APY | N/A | Learn more at Bluevine, Deposits are FDIC Insured |
Chase Business Complete Banking® Learn more at Chase, Member FDIC | 4.5/5 Best for Overdraft grace period | $15.00 Waived with $2,000 minimum balance | N/A | $300 Requirements to qualify | Learn more at Chase, Member FDIC |
American Express® Business Checking Learn more at American Express National Bank, Member FDIC | 5.0/5 Best for 24/7 customer support | $0 | 1.30% With $0 min. balance for APY | N/A | Learn more at American Express National Bank, Member FDIC |
nbkc Business Account Learn more at nbkc bank, Member FDIC | 4.9/5 Best for Unlimited fee-free cash deposits | $0 | N/A | N/A | Learn more at nbkc bank, Member FDIC |
Axos Bank® Basic Business Checking Learn more at Axos Bank®, Member FDIC | 5.0/5 Best for Cash deposits and withdrawals | $0 | N/A | $400 Requirements to qualify | Learn more at Axos Bank®, Member FDIC |
Bank of America® Business Advantage Fundamentals™ Banking Learn more at Bank of America, N.A., Member FDIC | 4.5/5 Best for Brick-and-mortar bank with high cash deposit limits | $16.00 | N/A | $200 Requirements to qualify | Learn more at Bank of America, N.A., Member FDIC |
Relay Business Checking Learn more at Relay, Deposits are FDIC Insured | 4.7/5 Best for Multiple accounts | $0 | N/A | $100 Requirements to qualify | Learn more at Relay, Deposits are FDIC Insured |
Grasshopper Business Checking Account Learn more at Grasshopper Bank, Member FDIC | 4.5/5 Best for Cash back + high APY | $0 | 2.25% With $0 min. balance for APY | N/A | Learn more at Grasshopper Bank, Member FDIC |
Found Small Business Banking Learn more at Found, Deposits are FDIC Insured | 4.4/5 Best for Freelancers and side hustlers | $0 | N/A | $20 Requirements to qualify | Learn more at Found, Deposits are FDIC Insured |
Lili Basic Business Checking Learn more at Lili, Deposits are FDIC Insured | 4.3/5 Best for Early access to payments | $0 | N/A | N/A | Learn more at Lili, Deposits are FDIC Insured |
U.S. Bank Silver Business Checking Learn more at U.S. Bank, Member FDIC | 4.0/5 Best for Sign-up bonus + no monthly fees | $0 | N/A | $800 Requirements to qualify | Learn more at U.S. Bank, Member FDIC |
LendingClub Tailored Checking | 4.9/5 Best for Cash back + ATM rebates | $10.00 Waived with $500 minimum balance | 1.50% With $0 min. balance for APY | N/A | |
Novo Business Checking Learn more at Novo, Deposits are FDIC Insured | 4.4/5 Best for Unlimited refunds on ATM fees | $0 | N/A | N/A | Learn more at Novo, Deposits are FDIC Insured |
Mercury Business Bank Account Learn more at Mercury, Deposits are FDIC Insured | 4.1/5 Best for Free wire transfers | $0 | N/A | N/A | Learn more at Mercury, Deposits are FDIC Insured |
Wells Fargo Initiate Business Checking℠ Account | 4.0/5 Best for Large ATM network | $10.00 Waived with $500 minimum balance | N/A | N/A | |
Live Oak Bank Business Savings Learn more at Live Oak Bank, Member FDIC | 5.0/5 Best for Business savings account | $0 | 4.00% With $0.01 min. balance for APY | $300 Requirements to qualify | Learn more at Live Oak Bank, Member FDIC |
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Our pick for
High-yield business checking
Bluevine Business Checking
at Bluevine, Deposits are FDIC Insured
With $0 min. balance for APY
Fees vary by location.
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.
- No fees at 37,000 MoneyPass ATMs.
- Free incoming wires and low outgoing wire transfer fees.
- Sub-accounts help users set funds aside for specific purposes.
Cons
- No fee-free cash deposits. Cash deposits at Green Dot locations are capped at $2,000 per day and a service fee of up to $4.95 per deposit applies. At Allpoint ATMs that accept cash, deposits are capped at $5,500 per day and a fee of $1 plus 0.5% of the deposit amount applies.
- Fee for using out-of-network ATMs.
- No joint accounts or employee debit cards.
Our pick for
Overdraft grace period
Chase Business Complete Banking®
at Chase, Member FDIC
Waived with $2,000 minimum balance
Up to $5,000 per month.
Requirements to qualify
Pros
- No minimum opening deposit.
- Unlimited fee-free electronic transactions.
- Integrated credit card processing.
- No overdraft fee unless account is overdrawn by more than $50; 24-hour grace period applies to overdrafts beyond that amount.
- 24/7 customer support.
- No fees at 16,000 Chase ATMs and access to around 4,700 branches.
Cons
- $15 monthly fee.
- Monthly limit on fee-free cash deposits ($5,000) and physical transactions (20).
- Fee for using out-of-network ATMs.
- Limit of $5,000 per month in free cash deposits.
Our pick for
24/7 customer support
American Express® Business Checking
at American Express National Bank, Member FDIC
With $0 min. balance for APY
No cash deposits.
Pros
- No monthly fees or minimum opening deposit.
- No excess transaction fees and no charge for incoming wires.
- Earn 1.30% APY on balances up to $500,000.
- 24/7 customer support.
- No fees at more than 70,000 MoneyPass and Allpoint ATMs in the U.S.
Cons
- Can’t deposit cash.
- No outgoing international wire transfers.
Our pick for
Unlimited fee-free cash deposits
nbkc Business Account
at nbkc bank, Member FDIC
Unlimited
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions, no overdraft fees and free incoming domestic wires.
- Up to $12 in monthly refunds for ATM fees charged by other banks worldwide.
- Unlimited cash deposits via MoneyPass ATMs.
- Accept contactless payments via the NBKC app (iOS only). Fees apply.
Cons
- High fee ($45) for international wire transfers.
- Phone support only available during business hours.
- No third-party app integrations.
Our pick for
Cash deposits and withdrawals
Axos Bank® Basic Business Checking
at Axos Bank®, Member FDIC
Unlimited
Requirements to qualify
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions and free incoming wires.
- 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.
Our pick for
Brick-and-mortar bank with high cash deposit limits
Bank of America® Business Advantage Fundamentals™ Banking
at Bank of America, N.A., Member FDIC
Up to $7,500 per statement cycle.
Requirements to qualify
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.
Our pick for
Multiple accounts
Relay Business Checking
at Relay, Deposits are FDIC Insured
Unlimited
Requirements to qualify
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 Visa® Debit abroad.
- Free incoming wires and low outgoing wire transfer fees.
Cons
- Phone support only available during business hours.
- Deposited checks are held for up to 6-7 business days.
- No bill pay feature in the free plan.
Our pick for
Cash back + high APY
Grasshopper Business Checking Account
at Grasshopper Bank, Member FDIC
With $0 min. balance for APY
No cash deposits.
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.
Our pick for
Freelancers and side hustlers
Found Small Business Banking
at Found, Deposits are FDIC Insured
$2 fee per deposit
Requirements to qualify
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions, no overdraft fees and free incoming domestic wires.
- Free, built-in invoicing, bookkeeping and tax-planning features.
- Integrates with popular business apps, including Stripe, Etsy and PayPal.
Cons
- Phone support only available during business hours.
- 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 $2,000 per week; $4,000 per month. A $2 service fee applies.
- No bill pay feature.
Our pick for
Early access to payments
Lili Basic Business Checking
at Lili, Deposits are FDIC Insured
Fee of up to $4.95 per cash deposit.
Pros
- No monthly fees, transaction fees or incoming wire 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.
- Limits of $2,000 per day or $5,000 per month on incoming ACH transfers. No outgoing wire transfers.
- No bill pay feature in the free plan.
Our pick for
Sign-up bonus + no monthly fees
U.S. Bank Silver Business Checking
at U.S. Bank, Member FDIC
Up to $2,500 per month.
Requirements to qualify
Pros
- No monthly service fee for Silver Business Checking account.
- Welcome bonus for new customers (terms apply).
- No fees at 4,700 U.S. Bank ATMs and access to 2,900 branches.
- No fees if account is overdrawn by $50 or less.
Cons
- Low cash deposit limits.
- Terms and fees are not easily accessible via the bank’s website.
- Limit of 125 fee-free transactions per month.
- $1 fee for outgoing domestic ACH transfers.
Our pick for
Cash back + ATM rebates
LendingClub Tailored Checking
With $0 min. balance for APY
Waived with $500 minimum balance
Unlimited
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.
- Limits of $10,000 on both incoming and outgoing ACH transfers.
Our pick for
Unlimited refunds on ATM fees
Novo Business Checking
at Novo, Deposits are FDIC Insured
No cash deposits.
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions and free incoming wires.
- 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.
- No bill pay feature.
Our pick for
Free wire transfers
Mercury Business Bank Account
at Mercury, Deposits are FDIC Insured
No cash deposits.
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions; no overdraft fees.
- Free domestic and international wire transfers.
- Advanced digital tools including API access to automate and customize your banking.
Cons
- Can’t deposit cash.
- Mercury is not part of a fee-free ATM network.
Our pick for
Large ATM network
Wells Fargo Initiate Business Checking℠ Account
Waived with $500 minimum balance
Up to $5,000.
Pros
- Phone customer support available until 11 p.m. ET on weekdays and on Saturdays and Sundays.
- No fees at Wells Fargo ATMs and access to around 4,900 branch locations.
Cons
- No free business checking account option.
- Limit of 100 fee-free transactions per month.
Our pick for
Business savings account
Live Oak Bank Business Savings
at Live Oak Bank, Member FDIC
With $0.01 min. balance for APY
No cash deposits
Requirements to qualify
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.
- American Express.
- Axos Bank.
- Bank of America.
- Blue Federal Credit Union.
- Bluevine.
- BMO Harris.
- Brex.
- Chase.
- Found.
- Grasshopper.
- Huntington Bank.
- LendingClub.
- Lili.
- Live Oak.
- Mercury.
- NBKC.
- NorthOne.
- Novo.
- PNC.
- QuickBooks Money.
- TD Bank.
- Truist.
- Wells Fargo.
Online banks
Neobanks
- Bluevine.
- Found.
- Lili.
- Mercury.
- Novo.
- Relay.
Brick-and-mortar banks
- Understand if it's a digital bank or neobank. One is not better or worse than the other by default. But a neobank will have more moving parts since it relies on a partner bank. Verify that partner using the FDIC’s BankFind tool to ensure its legitimacy. After all, you'll want to understand everyone you're working with — like with any business deal.
- Research the bank's reputation. The CFPB complaint database is a great place to start. And while that tool might not isolate a provider's business accounts, you can still get a sense of an institution's overall service. Neobanks may not be in that database since they're tech companies. You can look up their partner bank, but sites like TrustPilot may offer more insight on your potential day-to-day interactions. Pay close attention to feedback about issues that required customer service resolution, like account freezes. An internet search for news about product changes or other coverage can be a good idea as well.
- Check out app store reviews, too. If you plan to rely on online banking tools, you'll want to make sure they offer a solid experience. You likely won't be able to take those tools for a complete test drive without opening an account, so app store listings, ratings and reviews will offer you the next best thing. This information can help you understand how often a mobile app is being updated, if it has features you want and what other customers think of the service.
- Expense management tools that handle tasks like bill payment and employee reimbursements.
- Invoicing features that let you manage payable and receivable accounts.
- Integrations that combine bank account information with other business tools, like accounting software.
- Virtual debit cards that you can issue to employees.
- Zelle for business or other built-in software for accepting customer payments.
- Sub-accounts for setting money aside for different purposes, like payroll, or long-term goals (some of these may transfer funds to an interest-bearing account as well).
- Provide basic information about yourself and any additional business owners.
- Include personal identification, such as a driver’s license or Social Security number.
- Provide essential details about your business, like your tax ID number.
- Upload legal business documentation, which will vary based on your entity type.
🤓 Nerdy Tip
When you fund your new business account online, avoid depositing all of your assets at once. Most business accounts place a longer hold on deposits for new accounts, and you could lose access to those funds for 7 to 10 business days. Other accounts will flag large deposits, followed by large transactions, for fraud.