Does USAA Offer Business Checking Accounts?

APY

N/A

Monthly fee

Bonus

$200

Requirements to qualify

Unlimited transactions

at Axos Bank®, Member FDIC

Pros

No monthly fee, minimum opening deposit or excess transaction fee.
Cash deposits via Allpoint ATMs.
Automatic refunds of all ATM fees (domestic).
Cash deposits via Allpoint ATMs.
Welcome bonus for new customers (terms apply).

Cons

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

Axos Bank® Basic Business Checking

4.4

APY

N/A

Monthly fee

Bonus

$200

Requirements to qualify

Unlimited transactions

at Axos Bank®, Member FDIC

Pros

No monthly fee, minimum opening deposit or excess transaction fee.
Cash deposits via Allpoint ATMs.
Automatic refunds of all ATM fees (domestic).
Cash deposits via Allpoint ATMs.
Welcome bonus for new customers (terms apply).

Cons

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

Grasshopper Innovator Business Checking Account

5.0

APY

1.35%

With $25,000 min. balance for APY

Monthly fee

Bonus

N/A

Cash back on debit

at Grasshopper Bank, Member FDIC

Pros

Unlimited 1% cash back on qualified debit card purchases.
Earn up to 1.35% APY.
No monthly fees, transaction fees or overdraft charges.
Free, built-in bookkeeping and invoicing software.
Low fees on wire transfers.
All account holders are assigned to a dedicated banker or customer support representative.

Cons

$100 minimum opening deposit.

Grasshopper Innovator Business Checking Account

5.0

APY

1.35%

With $25,000 min. balance for APY

Monthly fee

Bonus

N/A

Cash back on debit

at Grasshopper Bank, Member FDIC

Pros

Unlimited 1% cash back on qualified debit card purchases.
Earn up to 1.35% APY.
No monthly fees, transaction fees or overdraft charges.
Free, built-in bookkeeping and invoicing software.
Low fees on wire transfers.
All account holders are assigned to a dedicated banker or customer support representative.

Cons

$100 minimum opening deposit.

Relay Business Checking

4.9

APY

N/A

Monthly fee

Bonus

N/A

at Relay, Deposits are FDIC Insured

Pros

No required monthly fee, minimum opening deposit, excess transaction or overdraft fees.
No foreign transaction fees when you use your Relay Visa® Debit abroad.
Free incoming wires and low outgoing wire transfer fees.
Up to 50 debit cards.

Cons

No bill pay feature in the free plan.
Thread Bank, Relay’s banking partner, is currently under an FDIC consent order.

Relay Business Checking

4.9

APY

N/A

Monthly fee

Bonus

N/A

at Relay, Deposits are FDIC Insured

Pros

No required monthly fee, minimum opening deposit, excess transaction or overdraft fees.
No foreign transaction fees when you use your Relay Visa® Debit abroad.
Free incoming wires and low outgoing wire transfer fees.
Up to 50 debit cards.

Cons

No bill pay feature in the free plan.
Thread Bank, Relay’s banking partner, is currently under an FDIC consent order.

North One Standard Business Checking

4.5

APY

2.50%

With $0 min. balance for APY

Monthly fee

Bonus

N/A

Pros

No monthly fees or excess transaction fees.
Same-day deposits from Amazon, Cash App, Square, Stripe and Venmo. Direct payments supported from a variety of other business platforms, including Etsy, Lyft, Shopify and Airbnb.
Sub-accounts that you can use to save for specific goals.
Earn 2.5% APY on balances up to $250,000. Terms apply.

Cons

No fee-free cash deposits.
Can’t send or receive international wires.
Not available to nonprofit organizations.
No spend controls on employee debit cards.

North One Standard Business Checking

4.5

APY

2.50%

With $0 min. balance for APY

Monthly fee

Bonus

N/A

Pros

No monthly fees or excess transaction fees.
Same-day deposits from Amazon, Cash App, Square, Stripe and Venmo. Direct payments supported from a variety of other business platforms, including Etsy, Lyft, Shopify and Airbnb.
Sub-accounts that you can use to save for specific goals.
Earn 2.5% APY on balances up to $250,000. Terms apply.

Cons

No fee-free cash deposits.
Can’t send or receive international wires.
Not available to nonprofit organizations.
No spend controls on employee debit cards.

American Express® Business Checking

4.8

APY

1.30%

With $0 min. balance for APY

Monthly fee

Bonus

30,000 Points

Requirements to qualify

at American Express National Bank, Member FDIC

Pros

No monthly fee, minimum opening deposit or excess transaction fee.
24/7 customer support.
No fees on withdrawals at more than 70,000 MoneyPass and Allpoint ATMs in the U.S.
Earn 1 Membership Rewards® point for every $2 spent with your debit card.

Cons

Can’t deposit cash.
No outgoing international wire transfers.
Does not offer jointly owned accounts.

American Express® Business Checking

4.8

APY

1.30%

With $0 min. balance for APY

Monthly fee

Bonus

30,000 Points

Requirements to qualify

at American Express National Bank, Member FDIC

Pros

No monthly fee, minimum opening deposit or excess transaction fee.
24/7 customer support.
No fees on withdrawals at more than 70,000 MoneyPass and Allpoint ATMs in the U.S.
Earn 1 Membership Rewards® point for every $2 spent with your debit card.

Cons

Can’t deposit cash.
No outgoing international wire transfers.
Does not offer jointly owned accounts.

Best overall online business checking account

Bluevine Business Checking

5.0

APY

1.30%

With $0 min. balance for APY

Monthly fee

Bonus

$500

Requirements to qualify

at Bluevine, Deposits are FDIC Insured

Pros

No requited monthly fee, minimum opening deposit, excess transaction or overdraft fees.
Earn 1.30% 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 MoneyPass ATMs.
Bill pay tools and invoicing with built-in payment links, plus tap-to-pay card acceptance.

Cons

No fee-free cash deposits.
Fee for using out-of-network ATMs.
Does not offer jointly-owned accounts.

Best overall online business checking account

Bluevine Business Checking

5.0

APY

1.30%

With $0 min. balance for APY

Monthly fee

Bonus

$500

Requirements to qualify

at Bluevine, Deposits are FDIC Insured

Pros

No requited monthly fee, minimum opening deposit, excess transaction or overdraft fees.
Earn 1.30% 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 MoneyPass ATMs.
Bill pay tools and invoicing with built-in payment links, plus tap-to-pay card acceptance.

Cons

No fee-free cash deposits.
Fee for using out-of-network ATMs.
Does not offer jointly-owned accounts.

Mercury Business Bank Account

4.5

APY

N/A

Monthly fee

Bonus

$300

Requirements to qualify

at Mercury, Deposits are FDIC Insured

Pros

Free domestic and international U.S. dollar wire transfers.
Unlimited refunds on all domestic ATM fees.
No monthly fee, minimum opening deposit, excess transaction fee on U.S. dollar transactions or overdraft fees.
Users can apply for the rewards-earning Mercury IO Card, a corporate credit card with numerous expense control tools.

Cons

Can’t deposit cash.
Choice Financial Group, one of Mercury’s banking partners, is currently under a federal consent order.

Mercury Business Bank Account

4.5

APY

N/A

Monthly fee

Bonus

$300

Requirements to qualify

at Mercury, Deposits are FDIC Insured

Pros

Free domestic and international U.S. dollar wire transfers.
Unlimited refunds on all domestic ATM fees.
No monthly fee, minimum opening deposit, excess transaction fee on U.S. dollar transactions or overdraft fees.
Users can apply for the rewards-earning Mercury IO Card, a corporate credit card with numerous expense control tools.

Cons

Can’t deposit cash.
Choice Financial Group, one of Mercury’s banking partners, is currently under a federal consent order.

Bank of America® Business Advantage Fundamentals™ Banking

4.5

APY

N/A

Monthly fee

$16.00

$0 for the first 12 statement cycles.

Bonus

N/A

at Bank of America, N.A., Member FDIC

Pros

No monthly fee for the first 12 statement cycles.
Welcome offer for new accountholders.
Loyalty perks via Preferred Rewards for Business program.
Relatively low overdraft fees ($10 per item, limited to two per day)
Bill pay includes invoicing for new users.

Cons

$100 minimum opening deposit.
Fee for using out-of-network ATMs.
$16 monthly fee after introductory period ends.

Bank of America® Business Advantage Fundamentals™ Banking

4.5

APY

N/A

Monthly fee

$16.00

$0 for the first 12 statement cycles.

Bonus

N/A

at Bank of America, N.A., Member FDIC

Pros

No monthly fee for the first 12 statement cycles.
Welcome offer for new accountholders.
Loyalty perks via Preferred Rewards for Business program.
Relatively low overdraft fees ($10 per item, limited to two per day)
Bill pay includes invoicing for new users.

Cons

$100 minimum opening deposit.
Fee for using out-of-network ATMs.
$16 monthly fee after introductory period ends.

Brex Business Account

4.5

APY

N/A

Monthly fee

Bonus

N/A

at Brex, Deposits are FDIC Insured

Pros

No monthly fee, minimum opening deposit or excess transaction fee.
Ability to put cash in a money market fund to earn yield.
Includes rewards-earning Brex corporate credit card.
Free domestic and international wire transfers.

Cons

Can't deposit or withdraw cash.
Only available to venture-backed startups and mid-market companies.
Not available to sole proprietors or other unincorporated businesses.

Brex Business Account

4.5

APY

N/A

Monthly fee

Bonus

N/A

at Brex, Deposits are FDIC Insured

Pros

No monthly fee, minimum opening deposit or excess transaction fee.
Ability to put cash in a money market fund to earn yield.
Includes rewards-earning Brex corporate credit card.
Free domestic and international wire transfers.

Cons

Can't deposit or withdraw cash.
Only available to venture-backed startups and mid-market companies.
Not available to sole proprietors or other unincorporated businesses.

U.S. Bank Business Essentials

4.5

APY

N/A

Monthly fee

Bonus

$400

Requirements to qualify

Best free account

at U.S. Bank, Member FDIC

Pros

No monthly service fee.
Welcome bonus for new customers (terms apply).
Unlimited fee-free electronic and debit card transactions.
Receive and send payments via Zelle.
Accept payments with free mobile card reader, no monthly software fee. Processing fees apply.

Cons

$100 minimum opening deposit.
Fee for using out-of-network ATMs.
High overdraft, wire transfer fees.
$1 fee for outgoing domestic ACH transfers.

U.S. Bank Business Essentials

4.5

APY

N/A

Monthly fee

Bonus

$400

Requirements to qualify

Best free account

at U.S. Bank, Member FDIC

Pros

No monthly service fee.
Welcome bonus for new customers (terms apply).
Unlimited fee-free electronic and debit card transactions.
Receive and send payments via Zelle.
Accept payments with free mobile card reader, no monthly software fee. Processing fees apply.

Cons

$100 minimum opening deposit.
Fee for using out-of-network ATMs.
High overdraft, wire transfer fees.
$1 fee for outgoing domestic ACH transfers.

Chase Business Complete Banking®

4.5

APY

N/A

Monthly fee

$15.00

Waived with $2,000 minimum balance

Bonus

$500

Requirements to qualify

at Chase, Member FDIC

Pros

No minimum opening deposit.
Unlimited fee-free electronic and debit card 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.
No fees at 14,000 Chase ATMs and access to around 5,000 branches.
Receive and send payments via Zelle.

Cons

$15 monthly fee.
Monthly limit on physical transactions (20).
Fee for using out-of-network ATMs.

Chase Business Complete Banking®

4.5

APY

N/A

Monthly fee

$15.00

Waived with $2,000 minimum balance

Bonus

$500

Requirements to qualify

at Chase, Member FDIC

Pros

No minimum opening deposit.
Unlimited fee-free electronic and debit card 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.
No fees at 14,000 Chase ATMs and access to around 5,000 branches.
Receive and send payments via Zelle.

Cons

$15 monthly fee.
Monthly limit on physical transactions (20).
Fee for using out-of-network ATMs.

Found Small Business Banking

4.5

APY

2.00%

With $0 min. balance for APY

Monthly fee

Bonus

$125

Requirements to qualify

at Found, Deposits are FDIC Insured

Pros

No required monthly fee, minimum opening deposit, excess transaction or overdraft fees.
Free, built-in invoicing, bookkeeping and tax-planning features.
Built-in payroll features for contractors.
Can manage up to 5 businesses from a single login.

Cons

No weekend or after-hours phone support.
Not available to partnerships or nonprofit organizations.
No fee-free cash deposits.

Found Small Business Banking

4.5

APY

2.00%

With $0 min. balance for APY

Monthly fee

Bonus

$125

Requirements to qualify

at Found, Deposits are FDIC Insured

Pros

No required monthly fee, minimum opening deposit, excess transaction or overdraft fees.
Free, built-in invoicing, bookkeeping and tax-planning features.
Built-in payroll features for contractors.
Can manage up to 5 businesses from a single login.

Cons

No weekend or after-hours phone support.
Not available to partnerships or nonprofit organizations.
No fee-free cash deposits.

nbkc Business Account

4.8

APY

N/A

Monthly fee

Bonus

N/A

at nbkc bank, Member FDIC

Pros

No monthly fee, minimum opening deposit, excess transaction or overdraft fees.
Up to $12 in monthly refunds for ATM fees charged by other banks worldwide.
Unlimited cash deposits via MoneyPass and Allpoint ATMs.
Accept contactless payments via the NBKC app (iOS only). Fees apply.
Unlimited debit cards.

Cons

Must pay a fee to use built-in software features via Autobooks.

nbkc Business Account

4.8

APY

N/A

Monthly fee

Bonus

N/A

at nbkc bank, Member FDIC

Pros

No monthly fee, minimum opening deposit, excess transaction or overdraft fees.
Up to $12 in monthly refunds for ATM fees charged by other banks worldwide.
Unlimited cash deposits via MoneyPass and Allpoint ATMs.
Accept contactless payments via the NBKC app (iOS only). Fees apply.
Unlimited debit cards.

Cons

Must pay a fee to use built-in software features via Autobooks.

Rho Business Checking

4.3

APY

N/A

Monthly fee

Bonus

$350

Requirements to qualify

at Rho, Deposits are FDIC Insured

Pros

No monthly fee, minimum opening deposit or excess transaction fee.
Free same-day ACH transfers.
Users can apply for the rewards-earning Rho Card, a corporate credit card with numerous expense control tools.

Cons

No cash deposits or ATM access.
Not available to sole proprietors.

Rho Business Checking

4.3

APY

N/A

Monthly fee

Bonus

$350

Requirements to qualify

at Rho, Deposits are FDIC Insured

Pros

No monthly fee, minimum opening deposit or excess transaction fee.
Free same-day ACH transfers.
Users can apply for the rewards-earning Rho Card, a corporate credit card with numerous expense control tools.

Cons

No cash deposits or ATM access.
Not available to sole proprietors.

First Internet Bank Do More Business™ Checking

4.2

APY

0.50%

With $10,000 min. balance for APY

Monthly fee

Bonus

N/A

at First Internet Bank, Member FDIC

Pros

No monthly fee, minimum opening deposit, excess transaction or overdraft fees.
Up to $10 in monthly refunds for ATM fees charged by other banks.
APY of 0.50% with an average daily balance of $10,000 or more.
Receive and send payments via Zelle.

Cons

No cash deposits.
$15 fee for incoming wires.

First Internet Bank Do More Business™ Checking

4.2

APY

0.50%

With $10,000 min. balance for APY

Monthly fee

Bonus

N/A

at First Internet Bank, Member FDIC

Pros

No monthly fee, minimum opening deposit, excess transaction or overdraft fees.
Up to $10 in monthly refunds for ATM fees charged by other banks.
APY of 0.50% with an average daily balance of $10,000 or more.
Receive and send payments via Zelle.

Cons

No cash deposits.
$15 fee for incoming wires.

Lili Core Business Checking

4.3

APY

N/A

Monthly fee

Bonus

N/A

at Lili, Deposits are FDIC Insured

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.
Direct integrations with Square, Shopify, Etsy and eBay.

Cons

Fee for using out-of-network ATMs.
No fee-free cash deposits.
Bill pay not included; must upgrade to Lili Smart or higher.
No spend controls on employee debit cards.

Lili Core Business Checking

4.3

APY

N/A

Monthly fee

Bonus

N/A

at Lili, Deposits are FDIC Insured

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.
Direct integrations with Square, Shopify, Etsy and eBay.

Cons

Fee for using out-of-network ATMs.
No fee-free cash deposits.
Bill pay not included; must upgrade to Lili Smart or higher.
No spend controls on employee debit cards.

Capital One Business Basic Checking®

4.4

APY

N/A

Monthly fee

$15.00

Waived with $2,000 minimum balance

Bonus

N/A

at Capital One, Member FDIC

Pros

Unlimited fee-free digital transactions, including mobile deposits, ACH transfers and some bill pay.
Full suite of business services, including business credit cards and loans.
No fees at nearly 80,000 ATMs, including the Capital One, MoneyPass and Allpoint networks.
No fee on cash deposits at Capital One and select Allpoint ATMs.

Cons

No free business checking account options.
Potential for up to 4 overdraft fees per day.

Capital One Business Basic Checking®

4.4

APY

N/A

Monthly fee

$15.00

Waived with $2,000 minimum balance

Bonus

N/A

at Capital One, Member FDIC

Pros

Unlimited fee-free digital transactions, including mobile deposits, ACH transfers and some bill pay.
Full suite of business services, including business credit cards and loans.
No fees at nearly 80,000 ATMs, including the Capital One, MoneyPass and Allpoint networks.
No fee on cash deposits at Capital One and select Allpoint ATMs.

Cons

No free business checking account options.
Potential for up to 4 overdraft fees per day.

Huntington Business Checking 100

4.1

APY

N/A

Monthly fee

Bonus

$1,000

Requirements to qualify

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.
Receive and send payments via Zelle.

Cons

Fee for using out-of-network ATMs.
Accounts only available in 11 states.
Limit of $2,500 in free cash deposits per month.

Huntington Business Checking 100

4.1

APY

N/A

Monthly fee

Bonus

$1,000

Requirements to qualify

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.
Receive and send payments via Zelle.

Cons

Fee for using out-of-network ATMs.
Accounts only available in 11 states.
Limit of $2,500 in free cash deposits per month.

BMO Simple Business Checking

4.4

APY

N/A

Monthly fee

$10.00

Waived with $100 minimum balance

Bonus

$1,000

Requirements to qualify

Pros

Large sign-up bonus.
No fees at BMO Harris or 50,000 Allpoint ATMs and access to 1,000 branch locations.
No overdraft fees if account is overdrawn by $50 or less.
Receive and send payments via Zelle.
Account holders are assigned a dedicated relationship banker or account manager.

Cons

No free checking account option (though the minimum balance required to waive the monthly fee is lower than most other banks).
Limit of $2,000 in free cash deposit per statement period.
Limit of 100 fee-free transactions per month.

BMO Simple Business Checking

4.4

APY

N/A

Monthly fee

$10.00

Waived with $100 minimum balance

Bonus

$1,000

Requirements to qualify

Pros

Large sign-up bonus.
No fees at BMO Harris or 50,000 Allpoint ATMs and access to 1,000 branch locations.
No overdraft fees if account is overdrawn by $50 or less.
Receive and send payments via Zelle.
Account holders are assigned a dedicated relationship banker or account manager.

Cons

No free checking account option (though the minimum balance required to waive the monthly fee is lower than most other banks).
Limit of $2,000 in free cash deposit per statement period.
Limit of 100 fee-free transactions per month.

Wells Fargo Initiate Business Checking℠ Account

4.1

APY

N/A

Monthly fee

$10.00

Waived with $500 minimum balance

Bonus

N/A

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.
Receive and send payments via Zelle.

Cons

No free business checking account option.
Limit of 100 fee-free transactions per month.

Wells Fargo Initiate Business Checking℠ Account

4.1

APY

N/A

Monthly fee

$10.00

Waived with $500 minimum balance

Bonus

N/A

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.
Receive and send payments via Zelle.

Cons

No free business checking account option.
Limit of 100 fee-free transactions per month.

QuickBooks Money

4.2

APY

3.00%

With $0 min. balance for APY

Monthly fee

Bonus

N/A

Pros

Account holders can set money aside for specific purposes and earn 3% APY on it.
Built-in invoicing.
Built-in payment processing, which means same-day availability for some funds.

Cons

Only four free ATM withdrawals per month; $3 per withdrawal after that.
Does not offer jointly owned accounts.
Only one debit card per account.

QuickBooks Money

4.2

APY

3.00%

With $0 min. balance for APY

Monthly fee

Bonus

N/A

Pros

Account holders can set money aside for specific purposes and earn 3% APY on it.
Built-in invoicing.
Built-in payment processing, which means same-day availability for some funds.

Cons

Only four free ATM withdrawals per month; $3 per withdrawal after that.
Does not offer jointly owned accounts.
Only one debit card per account.

PNC Business Checking

4.2

APY

N/A

Monthly fee

$12.00

Waived with $500 average monthly balance

Bonus

$400

Requirements to qualify

Pros

Monthly fees waived for the first three months after account opening.
Welcome bonus for new customers.
No fees at 60,000 PNC ATMs, plus 2,600 branch locations.
Earn cash back at select merchants with PNC Purchase Payback.
Receive and send payments via Zelle.
Account holders are assigned to a dedicated banker or customer support representative.

Cons

No free business checking account options.
Limit of 150 fee-free transactions per month.
Very high wire transfer fees.

PNC Business Checking

4.2

APY

N/A

Monthly fee

$12.00

Waived with $500 average monthly balance

Bonus

$400

Requirements to qualify

Pros

Monthly fees waived for the first three months after account opening.
Welcome bonus for new customers.
No fees at 60,000 PNC ATMs, plus 2,600 branch locations.
Earn cash back at select merchants with PNC Purchase Payback.
Receive and send payments via Zelle.
Account holders are assigned to a dedicated banker or customer support representative.

Cons

No free business checking account options.
Limit of 150 fee-free transactions per month.
Very high wire transfer fees.

Navy Federal Credit Union Business Checking

4.3

APY

0.01%

With $0 min. balance for APY

Monthly fee

Bonus

N/A

Pros

No monthly fee and unlimited fee-free electronic transactions.
No dollar limit on cash deposits (other limits may apply).
24/7 member service.
No fees to deposit cash at Navy Federal or Co-Op Network ATMs.

Cons

High opening deposit (up to $255).
$29 fee for overdrafts, insufficient funds.
Eligibility limited to veterans, military members, Department of Defense employees and their families.
Does not offer jointly owned accounts.
No spend controls on employee debit cards.

Navy Federal Credit Union Business Checking

4.3

APY

0.01%

With $0 min. balance for APY

Monthly fee

Bonus

N/A

Pros

No monthly fee and unlimited fee-free electronic transactions.
No dollar limit on cash deposits (other limits may apply).
24/7 member service.
No fees to deposit cash at Navy Federal or Co-Op Network ATMs.

Cons

High opening deposit (up to $255).
$29 fee for overdrafts, insufficient funds.
Eligibility limited to veterans, military members, Department of Defense employees and their families.
Does not offer jointly owned accounts.
No spend controls on employee debit cards.

Novo Business Checking

4.1

APY

N/A

Monthly fee

Bonus

N/A

at Novo, Deposits are FDIC Insured

Pros

No monthly fee, minimum opening deposit, excess transaction or overdraft fees.
$7 per month in ATM fee refunds.
Direct integrations with Etsy, eBay, Amazon and WooCommerce.
Built-in invoicing and automatic P&L generation.

Cons

Can’t deposit cash.
Not all customers can send domestic wire transfers.
No customer support by phone unless you're reporting fraud.
No bill pay feature.
Does not offer jointly owned accounts.
No spend controls on employee debit cards.

Novo Business Checking

4.1

APY

N/A

Monthly fee

Bonus

N/A

at Novo, Deposits are FDIC Insured

Pros

No monthly fee, minimum opening deposit, excess transaction or overdraft fees.
$7 per month in ATM fee refunds.
Direct integrations with Etsy, eBay, Amazon and WooCommerce.
Built-in invoicing and automatic P&L generation.

Cons

Can’t deposit cash.
Not all customers can send domestic wire transfers.
No customer support by phone unless you're reporting fraud.
No bill pay feature.
Does not offer jointly owned accounts.
No spend controls on employee debit cards.

Citizens Bank Clearly Better Business Checking®

4.0

APY

N/A

Monthly fee

Bonus

N/A

Citizens Bank Clearly Better Business Checking®

4.0

APY

N/A

Monthly fee

Bonus

N/A

TD Business Simple Checking℠

4.1

APY

N/A

Monthly fee

$10.00

Bonus

$500

Requirements to qualify

Pros

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.
No fees at 2,600 TD Bank ATMs and access to 1,100 branches.
Receive and send payments via Zelle.

Cons

No free business checking account option.
Accounts only available in 15 states and the District of Columbia.

TD Business Simple Checking℠

4.1

APY

N/A

Monthly fee

$10.00

Bonus

$500

Requirements to qualify

Pros

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.
No fees at 2,600 TD Bank ATMs and access to 1,100 branches.
Receive and send payments via Zelle.

Cons

No free business checking account option.
Accounts only available in 15 states and the District of Columbia.

Live Oak Bank Business Savings

4.5

APY

2.85%

With $0.01 min. balance for APY

Monthly fee

Bonus

N/A

at Live Oak Bank, Member FDIC

Pros

High APY.
Earn interest on balances of $0.01 and higher.
No monthly maintenance fee or minimum deposit.

Cons

No ATM or debit card access for Business Savings account.
No weekend customer support.

Live Oak Bank Business Savings

4.5

APY

2.85%

With $0.01 min. balance for APY

Monthly fee

Bonus

N/A

at Live Oak Bank, Member FDIC

Pros

High APY.
Earn interest on balances of $0.01 and higher.
No monthly maintenance fee or minimum deposit.

Cons

No ATM or debit card access for Business Savings account.
No weekend customer support.

Money Transfer

APY

N/A

Monthly fee

Bonus

N/A

at Square, Inc.

Money Transfer

APY

N/A

Monthly fee

Bonus

N/A

at Square, Inc.

Santander Bank Basic Business Checking

3.0

APY

N/A

Monthly fee

$7.50

Waived with $1,500 minimum balance

Bonus

N/A

Santander Bank Basic Business Checking

3.0

APY

N/A

Monthly fee

$7.50

Waived with $1,500 minimum balance

Bonus

N/A

Truist Simple Business Checking

4.0

APY

N/A

Monthly fee

Bonus

N/A

Pros

Free business checking available, including an option for nonprofits.
Large branch network.
Receive and send payments via Zelle.

Cons

Restrictive transaction limit on Simple Business Checking.
Fee for using out-of-network ATMs.
Multiple extra fees, including for ACH service and QuickBooks integration.

Truist Simple Business Checking

4.0

APY

N/A

Monthly fee

Bonus

N/A

Pros

Free business checking available, including an option for nonprofits.
Large branch network.
Receive and send payments via Zelle.

Cons

Restrictive transaction limit on Simple Business Checking.
Fee for using out-of-network ATMs.
Multiple extra fees, including for ACH service and QuickBooks integration.

CitiBusiness® Streamlined Checking

4.1

APY

N/A

Monthly fee

$15.00

Waived with $5,000 minimum balance

Bonus

N/A

Pros

No fees at 60,000 Citibank and MoneyPass ATMs and access to more than 600 branches.
Up to $10,000 per month in free cash deposits.
Sign-up bonuses start at $300 when you deposit $5,000 and can reach $2,000 when you deposit $200,000.
Receive and send payments via Zelle.
Account holders are assigned to a dedicated banker or customer support representative.

Cons

Must visit a branch to open an account.
Business accounts are only available in 10 states plus Washington, D.C.
No spend controls on employee debit cards.

CitiBusiness® Streamlined Checking

4.1

APY

N/A

Monthly fee

$15.00

Waived with $5,000 minimum balance

Bonus

N/A

Pros

No fees at 60,000 Citibank and MoneyPass ATMs and access to more than 600 branches.
Up to $10,000 per month in free cash deposits.
Sign-up bonuses start at $300 when you deposit $5,000 and can reach $2,000 when you deposit $200,000.
Receive and send payments via Zelle.
Account holders are assigned to a dedicated banker or customer support representative.

Cons

Must visit a branch to open an account.
Business accounts are only available in 10 states plus Washington, D.C.
No spend controls on employee debit cards.

Regions LifeGreen Business Checking

3.0

APY

N/A

Monthly fee

$12.00

Waived with $2,500 minimum balance

Bonus

N/A

Regions LifeGreen Business Checking

3.0

APY

N/A

Monthly fee

$12.00

Waived with $2,500 minimum balance

Bonus

N/A

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Bank/institution	Best for	NerdWallet rating	Monthly fee	APY	Bonus	Learn more
American Express® Business Checking	24/7 customer support	4.8 /5	$0	1.30% With $0 min. balance for APY	30,000 Points Requirements to qualify	Learn more at American Express National Bank, Member FDIC
Pros No monthly fee, minimum opening deposit or excess transaction fee. 24/7 customer support. No fees on withdrawals at more than 70,000 MoneyPass and Allpoint ATMs in the U.S. Earn 1 Membership Rewards® point for every $2 spent with your debit card. Cons Can’t deposit cash. No outgoing international wire transfers. Does not offer jointly owned accounts.

Bluevine Business Checking	Online banking	5.0 /5	$0	1.30% With $0 min. balance for APY	$500 Requirements to qualify	Learn more at Bluevine, Deposits are FDIC Insured
Pros No requited monthly fee, minimum opening deposit, excess transaction or overdraft fees. Earn 1.30% 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 MoneyPass ATMs. Bill pay tools and invoicing with built-in payment links, plus tap-to-pay card acceptance. Cons No fee-free cash deposits. Fee for using out-of-network ATMs. Does not offer jointly-owned accounts.

Chase Business Complete Banking®	Merchant services	4.5 /5	$15.00 Waived with $2,000 minimum balance	N/A	$500 Requirements to qualify	Learn more at Chase, Member FDIC
Pros No minimum opening deposit. Unlimited fee-free electronic and debit card 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. No fees at 14,000 Chase ATMs and access to around 5,000 branches. Receive and send payments via Zelle. Cons $15 monthly fee. Monthly limit on physical transactions (20). Fee for using out-of-network ATMs.

Bank of America® Business Advantage Fundamentals™ Banking	Brick-and-mortar banking	4.5 /5	$16.00 $0 for the first 12 statement cycles.	N/A	N/A	Learn more at Bank of America, N.A., Member FDIC
Pros No monthly fee for the first 12 statement cycles. Welcome offer for new accountholders. Loyalty perks via Preferred Rewards for Business program. Relatively low overdraft fees ($10 per item, limited to two per day) Bill pay includes invoicing for new users. Cons $100 minimum opening deposit. Fee for using out-of-network ATMs. $16 monthly fee after introductory period ends.

Navy Federal Credit Union Business Checking	Military-affiliated business owners	4.3 /5	$0	0.01% With $0 min. balance for APY	N/A	Read review
Pros No monthly fee and unlimited fee-free electronic transactions. No dollar limit on cash deposits (other limits may apply). 24/7 member service. No fees to deposit cash at Navy Federal or Co-Op Network ATMs. Cons High opening deposit (up to $255). $29 fee for overdrafts, insufficient funds. Eligibility limited to veterans, military members, Department of Defense employees and their families. Does not offer jointly owned accounts. No spend controls on employee debit cards.

Live Oak Bank Business Savings	Business savings account	4.5 /5	$0	2.85% With $0.01 min. balance for APY	N/A	Learn more at Live Oak Bank, Member FDIC
Pros High APY. Earn interest on balances of $0.01 and higher. No monthly maintenance fee or minimum deposit. Cons No ATM or debit card access for Business Savings account. No weekend customer support.

nbkc bank Business Money Market Account	Business money market account	4.5 /5	$0	2.75% With $0.01 min. balance for APY	N/A	Learn more at nbkc bank, Member FDIC
Pros Earns 2.75% APY. No minimum balance to earn interest. No monthly fee or minimum opening deposit. Includes checks and an ATM card. Cons High fee ($45) for international wire transfers. No weekend or after-hours customer support.

Bank/institution Bank/institution	Best for Best for	NerdWallet rating NerdWallet rating	Monthly fee Monthly fee	APY APY	Bonus Bonus	Learn more Learn more
American Express® Business Checking	24/7 customer support	4.8 /5	$0	1.30% With $0 min. balance for APY	30,000 Points Requirements to qualify	Learn more at American Express National Bank, Member FDIC
Bluevine Business Checking	Online banking	5.0 /5	$0	1.30% With $0 min. balance for APY	$500 Requirements to qualify	Learn more at Bluevine, Deposits are FDIC Insured
Chase Business Complete Banking®	Merchant services	4.5 /5	$15.00 Waived with $2,000 minimum balance	N/A	$500 Requirements to qualify	Learn more at Chase, Member FDIC
Bank of America® Business Advantage Fundamentals™ Banking	Brick-and-mortar banking	4.5 /5	$16.00 $0 for the first 12 statement cycles.	N/A	N/A	Learn more at Bank of America, N.A., Member FDIC
Navy Federal Credit Union Business Checking	Military-affiliated business owners	4.3 /5	$0	0.01% With $0 min. balance for APY	N/A	Read review
Live Oak Bank Business Savings	Business savings account	4.5 /5	$0	2.85% With $0.01 min. balance for APY	N/A	Learn more at Live Oak Bank, Member FDIC
nbkc bank Business Money Market Account	Business money market account	4.5 /5	$0	2.75% With $0.01 min. balance for APY	N/A	Learn more at nbkc bank, Member FDIC

American Express® Business Checking

Best for 24/7 customer support

4.8

APY

1.30%

With $0 min. balance for APY

Monthly fee

Bonus

30,000 Points

Requirements to qualify

at American Express National Bank, Member FDIC

Pros

No monthly fee, minimum opening deposit or excess transaction fee.
24/7 customer support.
No fees on withdrawals at more than 70,000 MoneyPass and Allpoint ATMs in the U.S.
Earn 1 Membership Rewards® point for every $2 spent with your debit card.

Cons

Can’t deposit cash.
No outgoing international wire transfers.
Does not offer jointly owned accounts.

Best overall online business checking account

Bluevine Business Checking

Best for Online banking

5.0

APY

1.30%

With $0 min. balance for APY

Monthly fee

Bonus

$500

Requirements to qualify

at Bluevine, Deposits are FDIC Insured

Pros

No requited monthly fee, minimum opening deposit, excess transaction or overdraft fees.
Earn 1.30% 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 MoneyPass ATMs.
Bill pay tools and invoicing with built-in payment links, plus tap-to-pay card acceptance.

Cons

No fee-free cash deposits.
Fee for using out-of-network ATMs.
Does not offer jointly-owned accounts.

Chase Business Complete Banking®

Best for Merchant services

4.5

APY

N/A

Monthly fee

$15.00

Waived with $2,000 minimum balance

Bonus

$500

Requirements to qualify

at Chase, Member FDIC

Pros

No minimum opening deposit.
Unlimited fee-free electronic and debit card 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.
No fees at 14,000 Chase ATMs and access to around 5,000 branches.
Receive and send payments via Zelle.

Cons

$15 monthly fee.
Monthly limit on physical transactions (20).
Fee for using out-of-network ATMs.

Bank of America® Business Advantage Fundamentals™ Banking

Best for Brick-and-mortar banking

4.5

APY

N/A

Monthly fee

$16.00

$0 for the first 12 statement cycles.

Bonus

N/A

at Bank of America, N.A., Member FDIC

Pros

No monthly fee for the first 12 statement cycles.
Welcome offer for new accountholders.
Loyalty perks via Preferred Rewards for Business program.
Relatively low overdraft fees ($10 per item, limited to two per day)
Bill pay includes invoicing for new users.

Cons

$100 minimum opening deposit.
Fee for using out-of-network ATMs.
$16 monthly fee after introductory period ends.

Navy Federal Credit Union Business Checking

Best for Military-affiliated business owners

4.3

APY

0.01%

With $0 min. balance for APY

Monthly fee

Bonus

N/A

Pros

No monthly fee and unlimited fee-free electronic transactions.
No dollar limit on cash deposits (other limits may apply).
24/7 member service.
No fees to deposit cash at Navy Federal or Co-Op Network ATMs.

Cons

High opening deposit (up to $255).
$29 fee for overdrafts, insufficient funds.
Eligibility limited to veterans, military members, Department of Defense employees and their families.
Does not offer jointly owned accounts.
No spend controls on employee debit cards.

Live Oak Bank Business Savings

Best for Business savings account

4.5

APY

2.85%

With $0.01 min. balance for APY

Monthly fee

Bonus

N/A

at Live Oak Bank, Member FDIC

Pros

High APY.
Earn interest on balances of $0.01 and higher.
No monthly maintenance fee or minimum deposit.

Cons

No ATM or debit card access for Business Savings account.
No weekend customer support.

nbkc bank Business Money Market Account

Best for Business money market account

4.5

APY

2.75%

With $0.01 min. balance for APY

Monthly fee

Bonus

N/A