U.S. Bank Business Checking Review: A Rare Free Account From a Brick-and-Mortar Bank
U.S. Bank offers free business checking and a great sign-up bonus.
Overview
The bottom line:
U.S. Bank is one of the few brick-and-mortar banks to offer free business checking, and they’ve sweetened the pot with a hefty welcome offer. But high wire transfer fees could be a deal-breaker for some businesses.
Bank account details
Monthly fee
$0
APY
N/A
Bonus
$400
Earn a $400 bonus when you open a U.S. Bank Business Essentials Account or $1,200 when you open a Platinum Business Checking Account online with promo code Q4AFL25 and complete qualifying activities, subject to certain terms and limitations. Offer valid through January 14, 2026. Member FDIC.
Requirements to qualify
Pros & Cons
Pros
No monthly service fee.
Welcome bonus for new customers (terms apply).
Unlimited fee-free electronic and debit card transactions.
Supports Zelle for Business.
Account holders are assigned to a dedicated banker or customer support representative.
Accept payments with free mobile card reader, no monthly software fee. Processing fees apply.
Cons
$100 minimum opening deposit.
Low limit on fee-free cash deposits.
Fee for using out-of-network ATMs.
High overdraft, wire transfer fees.
$1 fee for outgoing domestic ACH transfers.
U.S. Bank debuted a fresh business checking account in April 2025: Business Essentials Checking.
The new account retains some of the best features of its predecessor (Silver Business Banking) — no monthly fee, an outstanding welcome offer and dedicated customer support. And U.S. Bank added mobile payment processing and unlimited, fee-free electronic transactions to make the new plan even more attractive for business owners.
The Business Essentials Checking account still has some shortfalls, though. It's cash deposit limits are low compared with other brick-and-mortar banks. And the bank charges high fees for overdrafts and wire transfers, plus $1 for all outgoing ACH transfers — something most business accounts offer for free.
While this review talks about multiple U.S. Bank business accounts, the star rating above refers to the Business Essentials Checking account only.
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U.S. Bank is best for:
✔️ Generous welcome offer.
✔️ Taking mobile payments.
✔️ Electronic deposits and withdrawals.
Not a fit? Consider these alternatives
Chase Business Complete Banking®: Better for cash deposits
Mercury Business Bank Account: Better for wire transfers
IN THIS REVIEW
U.S. Bank business checking at a glance
| Business Essentials | Platinum Business Checking | |
| Monthly fee: | $0. | $30; waived with $25,000 average collected balance. |
| Minimum opening deposit requirement: | $100. | $100. |
| APY: | None. | None. |
| Transactions: | 25 in-person transactions and/or paper checks per statement cycle; 50 cents for each additional transaction. Electronic deposits and withdrawals do not count toward the monthly limit. | 550 transactions per statement cycle; 40 cents for each additional transaction. |
| Bonus: | $400. Terms apply. | $1,200. Terms apply. |
Benefits and perks
Free business checking account
U.S. Bank is one of the largest banks in the country. It’s also one of the only big banks to offer a free business checking account
Big sign-up bonus
U.S. Bank consistently offers stellar promotions for new customers. Currently, you can earn a welcome bonus of $400 when you open a new U.S. Bank Business Essentials Checking account, or $1,200 with a new Platinum Business Checking account using promo code Q4AFL25. Offers valid through 01/14/2026.
To qualify, you need to meet balance and transaction requirements.
See Business Essentials Checking bonus requirements
See Platinum Business Checking bonus requirements
Dedicated business support specialists
U.S. Bank business checking customers get hands-on support courtesy of the bank's dedicated business specialists. Each business account holder is assigned a representative to assist with concerns and questions about products, among other things.
Business specialists are typically available Monday through Friday, 8 a.m. to 8 p.m. CST and 8 a.m. to 6:30 p.m. CST on Saturdays. U.S. Bank also offers live, 24/7 customer support outside of those hours.
It is worth noting that a handful of online posts do complain of long hold times when trying to reach customer support. These comments are primarily from new applicants, not existing customers with a dedicated business support representative.
A U.S. Bank spokesperson said the bank aims to “have 80% of calls answered within 60 seconds.”
Free mobile card reader, no software fees
U.S. Bank's Business Essentials Checking account makes accepting payments on the go a little easier. The account comes with a free mobile card reader and payment processing software.
Accepted payments are processed daily, including on weekends. Funds are typically available in your U.S. Bank business checking account within 24 hours.
Transaction fees do apply when processing payments. U.S. Bank's rates are on par with other payment processing companies
U.S. Bank Merchant Services fees
Drawbacks and alternatives
Low cash deposit limits
Most national and regional brick-and-mortar banks cap fee-free cash deposits to $5,000 per month. U.S. Bank's Business Essentials Checking account allows half that — and they make it complicated.
Business Essentials Checking includes 25 free cash deposit “units” per month. Each unit is equal to $100, but U.S. Bank rounds up or down based on whether a transaction is more or less than 50 cents/$50. For instance, a single cash deposit of less than $150 is counted as one unit. But if that was $150 or more, it would be two units. A single deposit totaling $2,500 equals 25 units.
By comparison, Chase Business Complete Banking® allows up to $5,000 in free cash deposits — around 50 units — per month. Bank of America® Business Advantage Fundamentals™ Banking, TD Business Simple Checking℠, Wells Fargo Initiate Business Checking℠ Account and Capital One Business Basic Checking® also include up to $5,000 in cash deposits.
Make more than $5,000 in cash deposits per month? Check out CitiBusiness® Streamlined Checking
Granted, all those accounts each have monthly fees. But it's fairly straightforward to get those fees waived as well.
High overdraft, wire transfer fees
U.S. Bank isn't immune to the "high-fees" stereotype that often plagues brick-and-mortar banks.
Sending a wire transfer within the U.S. will cost between $30 and $40 per wire — that jumps to $70 for international wire transfers. You'll get hit on the receiving end, too. Incoming wire fees range from $14 to $16, depending on where the transfer is coming from. That's higher than its brick-and-mortar competitors and certainly more than you'll pay with an online business checking account, which often have low or no fees for wires.
Mercury Business Bank Account, for example, does not charge for any wire transfers, ever. And Relay Business Checking
Overdraft charges are also high. If your U.S. Bank business checking account dips into the red by more than $5, you’ll get hit with a $36 overdraft fee up to three times per day. Want more breathing room? Many online business checking accounts
Fee for all outgoing ACH transfers
While U.S. Bank advertises "unlimited digital transactions," including ACH transfers, the fine print reveals a catch.
Yes, ACH transfers don't count toward your monthly transaction limit, but they do carry their own fees: $1 for each outgoing ACH transfer sent from your Business Essentials Checking account. That's unusual, even for a brick-and-mortar bank, and is likely a deal-breaker for businesses that make regular ACH transfers.
A top-rated online bank account, like Bluevine Business Checking American Express® Business Checking
These accounts have other perks, too. Both earn interest and have sign-up bonuses. But the AmEx account doesn't support cash deposits and Bluevine doesn't offer the same level of dedicated support as U.S. Bank.
How we evaluated U.S. Bank business checking
NerdWallet considers more than 20 data points for each business checking account we rate, scoring each on fees, perks and software tools, among other factors (view our complete ratings methodology
Accounts are scored from one to five stars overall, as well as on individual areas that are important for business banking. If a bank offers multiple accounts, we rate the entry-level account.
Here's how U.S. Bank's Business Essentials Checking account stacks up:
Core banking services | ★★★★
Customer experience | ★★★★★
Fees | ★★★★
Rewards | ★★
Software features | ★★★★★
We also look at public forums (like Reddit, myFICO and Quora) and online reviews (via sites like Trustpilot and the App Store/Google Play) to understand business owner sentiment about banking with U.S. Bank. We use AI tools to help gather some of this information for evaluation.
People post anonymously in these spaces, so we cannot confirm their individual experiences or circumstances. This data does not influence our star ratings. However, NerdWallet does contact financial institutions regarding negative feedback that we consistently observe.
How to open a U.S. Bank business checking account
You can open a U.S. Bank business checking account online, over the phone or at one of the bank’s more than 2,000 branch locations. While U.S. Bank has a physical presence in 26 states (see below), accounts are available to businesses nationwide.
States where U.S. Bank has branches
Business owners may need to provide additional information when applying (in person, when able). Commenters online have noted that this can cause delays in opening your account.
Some have also expressed frustration with customer service during this process. They cite issues like hour-long waits to speak to a human over the phone, as well as needing to work with multiple reps to resolve application problems.
What you need to open a U.S. Bank business account
To open a U.S. Bank business account, you’ll need to provide the following information:
- Social Security number, home address and cell phone number.
- Name, email and personal phone number for anyone with a 25% or more ownership stake in the company.
- Business phone number, physical address and date your business was established.
- Business tax ID (EIN, ITIN or SSN), industry designation and formation documents.
All U.S. Bank business accounts require a $100 minimum opening deposit, which can be deposited via ACH or wire transfer, or by check at a branch, ATM or using mobile deposit.
Explore other U.S. Bank business products
Using a single bank for multiple business services can streamline your operations — and help build a relationship with your business bank. U.S. Bank is a full-service option, offering business savings, merchant services, loans and business credit cards.
While we cover each of these in detail elsewhere, here's a snapshot of what's available for business owners.
Business savings
Business credit cards
Merchant services