Does USAA Offer Business Checking?
Bank/institution | NerdWallet rating▼ | Monthly fee▼ | APY▼ | Bonus▼ | Learn more |
---|---|---|---|---|---|
LendingClub Tailored Checking Learn more at LendingClub Bank, Member FDIC | 4.9/5 Best for ATM access | $10.00 Waived with $500 minimum balance | 1.50% With $0 min. balance for APY | N/A | Learn more at LendingClub Bank, Member FDIC |
Chase Business Complete Banking® Learn more at Chase, Member FDIC | 4.5/5 Best for Branch access + sign-up bonus | $15.00 Waived with $2,000 minimum balance | N/A | $300 Requirements to qualify | Learn more at Chase, Member FDIC |
Navy Federal Credit Union Business Checking | 4.2/5 Best for Military credit union + online banking | $0 | 0.01% With $0 min. balance for APY | N/A | |
Service Credit Union Free Business Checking | Best for Military credit union + no minimum opening deposit | $0 | N/A | N/A | |
Bank of America® Business Advantage Fundamentals™ Banking Learn more at Bank of America, N.A., Member FDIC | 4.5/5 Best for Branch access + cash deposits | $16.00 | N/A | N/A | Learn more at Bank of America, N.A., Member FDIC |
nbkc Business Account Learn more at nbkc bank, Member FDIC | 4.9/5 Best for Unlimited cash deposits | $0 | N/A | N/A | Learn more at nbkc bank, Member FDIC |
Bluevine Business Checking Learn more at Bluevine, Deposits are FDIC Insured | 4.7/5 Best for Earning interest | $0 | 2.00% With $0 min. balance for APY | N/A | Learn more at Bluevine, Deposits are FDIC Insured |
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 |
Huntington Business Checking 100 | 3.9/5 Best for Overdraft grace period + discounts on business loans | $0 | N/A | N/A | |
Found Small Business Banking Learn more at Found, Deposits are FDIC Insured | 4.4/5 Best for Freelancers and solopreneurs | $0 | N/A | $20 Requirements to qualify | Learn more at Found, Deposits are FDIC Insured |
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 |
---|---|---|---|---|---|
LendingClub Tailored Checking Learn more at LendingClub Bank, Member FDIC | 4.9/5 Best for ATM access | $10.00 Waived with $500 minimum balance | 1.50% With $0 min. balance for APY | N/A | Learn more at LendingClub Bank, Member FDIC |
Chase Business Complete Banking® Learn more at Chase, Member FDIC | 4.5/5 Best for Branch access + sign-up bonus | $15.00 Waived with $2,000 minimum balance | N/A | $300 Requirements to qualify | Learn more at Chase, Member FDIC |
Navy Federal Credit Union Business Checking | 4.2/5 Best for Military credit union + online banking | $0 | 0.01% With $0 min. balance for APY | N/A | |
Service Credit Union Free Business Checking | Best for Military credit union + no minimum opening deposit | $0 | N/A | N/A | |
Bank of America® Business Advantage Fundamentals™ Banking Learn more at Bank of America, N.A., Member FDIC | 4.5/5 Best for Branch access + cash deposits | $16.00 | N/A | N/A | Learn more at Bank of America, N.A., Member FDIC |
nbkc Business Account Learn more at nbkc bank, Member FDIC | 4.9/5 Best for Unlimited cash deposits | $0 | N/A | N/A | Learn more at nbkc bank, Member FDIC |
Bluevine Business Checking Learn more at Bluevine, Deposits are FDIC Insured | 4.7/5 Best for Earning interest | $0 | 2.00% With $0 min. balance for APY | N/A | Learn more at Bluevine, Deposits are FDIC Insured |
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 |
Huntington Business Checking 100 | 3.9/5 Best for Overdraft grace period + discounts on business loans | $0 | N/A | N/A | |
Found Small Business Banking Learn more at Found, Deposits are FDIC Insured | 4.4/5 Best for Freelancers and solopreneurs | $0 | N/A | $20 Requirements to qualify | Learn more at Found, Deposits are FDIC Insured |
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
ATM access
LendingClub Tailored Checking
at LendingClub Bank, Member FDIC
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
Branch access + sign-up bonus
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
Military credit union + online banking
Navy Federal Credit Union Business Checking
With $0 min. balance for APY
Unlimited
Our pick for
Military credit union + no minimum opening deposit
Service Credit Union Free Business Checking
Our pick for
Branch access + cash deposits
Bank of America® Business Advantage Fundamentals™ Banking
at Bank of America, N.A., Member FDIC
Up to $7,500 per statement cycle.
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
Unlimited 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
Earning interest
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
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
Overdraft grace period + discounts on business loans
Huntington Business Checking 100
Up to $2,500 per month.
Pros
- No monthly service fee for Business Checking 100 account.
- No overdraft fee unless account is overdrawn by more than $50; 24-hour grace period applies to overdrafts beyond that amount.
- Welcome bonus for new customers (terms apply).
- No fees at 1,600 Huntington ATMs and access to 1,000 branches.
Cons
- Fee for using out-of-network ATMs.
- Accounts only available in 11 states.
- Limit of $2,500 in free cash deposits per month.
Our pick for
Freelancers and solopreneurs
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
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.
Does USAA offer business accounts?
How to choose a non-USAA business account
- Do you want access to a branch? This will help you sort through your options quickly. If you want to be able to walk into a local branch, focus your search on national banks, like Chase and Bank of America; local and regional banks, like Huntington and PNC; and business accounts at credit unions, including those that serve members of the military.
- How often does your business deal with cash and checks? If your business relies on these services, a brick-and-mortar bank is probably the best fit whether you want branch access or not. Online business checking accounts don’t always let you deposit cash or write checks. Those that do may not make it easy — for instance, you might have to order a check and have it sent to your supplier. They may also charge fees for cash deposits and limit the amount you can deposit each day or month.
- What fees are you OK with? The downside of traditional banks is that many charge monthly fees unless you maintain a certain average balance. They’re also more likely to charge overdraft fees. In general, most free business checking accounts are with online banks and neobanks.
- Do you want to earn interest? A handful of business checking accounts pay APYs on your balance — some as high as 2% or more. And some business accounts also offer cash back on debit card transactions. But there’s another way to earn interest, too: Put your business’s emergency fund in a business savings account. In general, NerdWallet recommends keeping such a fund at a separate business bank from your primary account to minimize any potential business interruptions.
- What integrations do you need? Your business checking account should integrate with your accounting software, at least. Some accounts also offer built-in expense tracking and tax planning tools, which can be especially helpful for freelancers managing their own business finances.