Senior writer | Small business banking and credit cards, Paycheck Protection Program, consumer spending, and household finances
Kelsey Sheehy is a NerdWallet authority on small business. Her work has appeared in The New York Times, The Washington Post, Nasdaq and MarketWatch, among other publications. Kelsey has appeared on the <a href="https://www.today.com/video/christmas-in-july-sales-to-take-advantage-of-now-64075333536">"Today"</a> show, <a href="https://www.nbcnews.com/nightly-news/video/tax-code-changes-leave-many-americans-with-unhappy-returns-1440385091860">NBC News</a> and <a href="https://abcnews.go.com/WNT/video/cost-smartphones-reaching-time-high-54166111">"ABC World News Tonight"</a> and has been quoted by the Los Angeles Times, CNBC and American Banker, among other publications. Email: <a href="mailto:ksheehy@nerdwallet.com">ksheehy@nerdwallet.com</a>.
Senior Writer & Content Strategist | Small business, business banking, business loans
Randa Kriss is a senior writer and NerdWallet authority on small business. She has nearly a decade of experience in digital content. Prior to joining NerdWallet in 2020, Randa worked as a writer at Fundera, covering a wide variety of small-business topics and specializing in the lending and banking spaces. Her work has been featured by The Washington Post, The Associated Press and Nasdaq, among others. Randa earned a bachelor's degree in English and Spanish at Iona University (formerly Iona College).
Senior writer | Small business banking and credit cards, Paycheck Protection Program, consumer spending, and household finances
Kelsey Sheehy is a NerdWallet authority on small business. Her work has appeared in The New York Times, The Washington Post, Nasdaq and MarketWatch, among other publications. Kelsey has appeared on the <a href="https://www.today.com/video/christmas-in-july-sales-to-take-advantage-of-now-64075333536">"Today"</a> show, <a href="https://www.nbcnews.com/nightly-news/video/tax-code-changes-leave-many-americans-with-unhappy-returns-1440385091860">NBC News</a> and <a href="https://abcnews.go.com/WNT/video/cost-smartphones-reaching-time-high-54166111">"ABC World News Tonight"</a> and has been quoted by the Los Angeles Times, CNBC and American Banker, among other publications. Email: <a href="mailto:ksheehy@nerdwallet.com">ksheehy@nerdwallet.com</a>.
Senior Writer & Content Strategist | Small business, business banking, business loans
Randa Kriss is a senior writer and NerdWallet authority on small business. She has nearly a decade of experience in digital content. Prior to joining NerdWallet in 2020, Randa worked as a writer at Fundera, covering a wide variety of small-business topics and specializing in the lending and banking spaces. Her work has been featured by The Washington Post, The Associated Press and Nasdaq, among others. Randa earned a bachelor's degree in English and Spanish at Iona University (formerly Iona College).
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Why trust NerdWallet
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NerdWallet's business banking content — including our ratings, reviews and recommendations — is produced by a team of writers and editors who specialize in small-business finances. Their journalism has appeared in The Associated Press, Washington Post, MarketWatch, Nasdaq, Entrepreneur, ABC News, MSN and other national and local media outlets. Each writer and editor follows NerdWallet's strict editorial guidelines to ensure fairness and accuracy in our coverage.
Advertiser disclosure
You’re our first priority.
Every time.
We believe everyone should be able to make financial decisions with
confidence. And while our site doesn’t feature every company or
financial product available on the market, we’re proud that the guidance
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partners cannot pay us to guarantee favorable reviews of their products
or services. Here is a list of our partners .
Senior writer | Small business banking and credit cards, Paycheck Protection Program, consumer spending, and household finances
Kelsey Sheehy is a NerdWallet authority on small business. Her work has appeared in The New York Times, The Washington Post, Nasdaq and MarketWatch, among other publications. Kelsey has appeared on the <a href="https://www.today.com/video/christmas-in-july-sales-to-take-advantage-of-now-64075333536">"Today"</a> show, <a href="https://www.nbcnews.com/nightly-news/video/tax-code-changes-leave-many-americans-with-unhappy-returns-1440385091860">NBC News</a> and <a href="https://abcnews.go.com/WNT/video/cost-smartphones-reaching-time-high-54166111">"ABC World News Tonight"</a> and has been quoted by the Los Angeles Times, CNBC and American Banker, among other publications. Email: <a href="mailto:ksheehy@nerdwallet.com">ksheehy@nerdwallet.com</a>.
Senior Writer & Content Strategist | Small business, business banking, business loans
Randa Kriss is a senior writer and NerdWallet authority on small business. She has nearly a decade of experience in digital content. Prior to joining NerdWallet in 2020, Randa worked as a writer at Fundera, covering a wide variety of small-business topics and specializing in the lending and banking spaces. Her work has been featured by The Washington Post, The Associated Press and Nasdaq, among others. Randa earned a bachelor's degree in English and Spanish at Iona University (formerly Iona College).
Senior writer | Small business banking and credit cards, Paycheck Protection Program, consumer spending, and household finances
Kelsey Sheehy is a NerdWallet authority on small business. Her work has appeared in The New York Times, The Washington Post, Nasdaq and MarketWatch, among other publications. Kelsey has appeared on the <a href="https://www.today.com/video/christmas-in-july-sales-to-take-advantage-of-now-64075333536">"Today"</a> show, <a href="https://www.nbcnews.com/nightly-news/video/tax-code-changes-leave-many-americans-with-unhappy-returns-1440385091860">NBC News</a> and <a href="https://abcnews.go.com/WNT/video/cost-smartphones-reaching-time-high-54166111">"ABC World News Tonight"</a> and has been quoted by the Los Angeles Times, CNBC and American Banker, among other publications. Email: <a href="mailto:ksheehy@nerdwallet.com">ksheehy@nerdwallet.com</a>.
Senior Writer & Content Strategist | Small business, business banking, business loans
Randa Kriss is a senior writer and NerdWallet authority on small business. She has nearly a decade of experience in digital content. Prior to joining NerdWallet in 2020, Randa worked as a writer at Fundera, covering a wide variety of small-business topics and specializing in the lending and banking spaces. Her work has been featured by The Washington Post, The Associated Press and Nasdaq, among others. Randa earned a bachelor's degree in English and Spanish at Iona University (formerly Iona College).
NerdWallet's content is
fact-checked for accuracy, timeliness, and relevance by humans.
It undergoes a thorough review process involving writers and editors to ensure
the information is as clear and complete as possible. Learn more by checking
our
Editorial Guidelines.
Content was accurate at the time of publication.
Why trust NerdWallet
250+ small-business products reviewed and rated by our team of experts.
80+ years of combined experience covering small-business and personal finance.
60+ business bank accounts rated with our objective, comprehensive business bank account rubrics (Methodology).
NerdWallet's business banking content — including our ratings, reviews and recommendations — is produced by a team of writers and editors who specialize in small-business finances. Their journalism has appeared in The Associated Press, Washington Post, MarketWatch, Nasdaq, Entrepreneur, ABC News, MSN and other national and local media outlets. Each writer and editor follows NerdWallet's strict editorial guidelines to ensure fairness and accuracy in our coverage.
Advertiser disclosure
You’re our first priority.
Every time.
We believe everyone should be able to make financial decisions with
confidence. And while our site doesn’t feature every company or
financial product available on the market, we’re proud that the guidance
we offer, the information we provide and the tools we create are
objective, independent, straightforward — and free.
So how do we make money? Our partners compensate us. This may influence
which products we review and write about (and where those products
appear on the site), but it in no way affects our recommendations or
advice, which are grounded in thousands of hours of research. Our
partners cannot pay us to guarantee favorable reviews of their products
or services. Here is a list of our partners .
nbkc Business Account
Overview
The bottom line:
Automatic ATM fee refunds, easy cash deposits and virtually no fees make NBKC stand out amid a crowded field of online business checking accounts.
Bank account details
Monthly fee
$0
APY
N/A
Bonus
$250
Deposit $2,500 within 30 days, maintain that balance for 60 days and receive $250 bonus.
Requirements to qualify
Pros & Cons
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 and Allpoint ATMs.
Accept contactless payments via the NBKC app (iOS only). Fees apply.
Unlimited debit cards.
Cons
High fee ($45) for international wire transfers.
Phone support only available during business hours.
NBKC's business account is a great option for budget-conscious small-business owners, as well as those looking for a straightforward business checking account to manage their finances online.
This free business checking account has no monthly maintenance fees and almost no incidental fees. Charged an ATM fee by a third party? NBKC will automatically refund up to $12 in ATM surcharges per month.
Other standout features include unlimited fee-free cash deposits via compatible MoneyPass and Allpoint ATMs — a rare feature for an online business checking account — and the ability to accept contactless payments via the NBKC mobile app (fees apply).
NBKC also offers a high-yield business money market account that earns 2.75% APY and can be opened in tandem with its business checking account. The bank has business certificates of deposit as well, with promotional rates at 4.5% APY as of this writing.
As an FDIC-insured institution, NBKC provides its banking services directly, unlike some online business checking accounts from neobank competitors. Although NBKC's business accounts are online-based (as are NBKC personal banking products), the bank does have four branch locations — two in Kansas and two in Missouri — and offers business financing to local customers.
NBKC business accounts are best for small-business owners who:
Want a free business checking account with minimal fees.
Don't need cash deposits? Consider a Grasshopper business account instead. Like NBKC, Grasshopper is an FDIC-insured bank that charges no monthly maintenance fees and works with the MoneyPass network. But it also offers some value that NBKC lacks — namely, interest on your checking account balance (currently up to 1.55%) and 1% cash back on debit card purchases.
NBKC business checking at a glance
Monthly fee:
$0.
Minimum opening deposit requirement:
$0.
APY:
None.
Transactions:
Unlimited.
Bonus:
None.
How to open an NBKC business checking account
The NBKC Business Account can be opened entirely online by completing and submitting a simple application on the NBKC website.
To complete an application for an NBKC Bank business checking account, you will need to meet basic business bank account requirements: You must be a U.S. citizen or resident alien, be at least 18 years old and have a government-issued ID. You will also need to provide basic information about yourself and your business, as well as any additional business owners, and include legal documents for the business.
NBKC typically reviews submitted applications in five to seven business days. After you receive approval from NBKC, you will get an email with your online banking information and will be able to open your business bank account.
You will also be able to download the NBKC mobile banking app — available for both iOS and Android devices — to manage your account on the go. (Note that NBKC's tap-to-pay feature is only via its iOS app, though.)
Additionally, you will receive your NBKC business debit Mastercard and have the ability to add authorized signers to your account and request debit cards for those users, if necessary.
🤓
Nerdy Tip
NBKC holds all deposits for five to nine business days for new accounts (less than 30 days old) as a fraud prevention measure. Be aware and avoid depositing all of your funds at once.
Where NBKC business checking stands out
Almost no fees: The NBKC business checking account is about as close to fee-free as you can get. Not only does the account have no monthly fees, transaction fees or minimum balance requirement — fairly standard practice among online business accounts — but there are also almost no incidental fees, including for returned payments or incoming domestic wires, overdrafts or nonsufficient funds, or stop payments.
The only times you’ll face fees with the NBKC Bank Business Account are for sending domestic wires ($5 fee), sending or receiving international wires ($45 fee) or if you choose to add services to your account. And if you’re charged a fee from a third-party ATM operator, NBKC will automatically refund it (up to $12 per month).
Cash deposits: NBKC is one of the few business bank accounts to offer unlimited, fee-free cash deposits. That includes brick-and-mortar business banks, which typically set a monthly limit, and online business accounts that either don’t accept cash deposits or use a third-party service that charges a fee. You can deposit cash at any compatible MoneyPass or Allpoint ATM (use this tool to find a MoneyPass ATM that accepts deposits and this tool to find an Allpoint ATM that does).
Accept payments in-app (iOS only): NBKC customers can accept contactless payments directly from the NBKC mobile app — no hardware or terminal required, but you do need an iPhone X or newer, using iOS 15 or later. This feature, added in June 2023, allows NBKC customers to accept payments via debit card, credit card or virtual wallet.
This feature is powered by an integration with Autobooks, which charges $10 per month plus a processing fee of 2.75% for each tap-to-pay transaction. That processing fee is on par with fees charged by other popular credit card processors — Square, for example, charges 2.6% plus 10 cents per in-person transaction. The monthly fee might be a deal-breaker, though, if tap-to-pay isn't a big value-add for your business.
High-yield business savings: The NBKC Money Market account is a free business savings account that can be opened simultaneously with the business checking account and only requires an account balance of 1 cent to earn a 2.75% annual percentage yield — offering an easy way to start earning interest on funds without a substantial investment.
Where NBKC business checking falls short
High international wire fees: To send or receive international wires, you’ll incur a $45 fee. That's on the high end, especially for receiving transfers. If that's an important part of your business, consider a Mercury business account, which offers free domestic and international wires in U.S. dollars (a 1% currency exchange fee applies to transfers not in U.S. dollars). Relay offers low-cost wires, too.
Add-on fees: If you want to integrate the Autobooks invoicing software with your checking account, you’ll need to pay $10 per month. Similarly, both the desktop deposit and ACH credits and debits add-ons require separate monthly fees.
In comparison, many online-based business checking account competitors either include some of these related add-ons at no additional cost or offer the ability to directly integrate with third-party business tools that cover these features. As an example, although the NorthOne business bank account doesn’t include its own invoicing features, it does provide direct integration with invoicing tools like Wave, QuickBooks and FreshBooks.