Best Business Banking Accounts From Our Partners
Best for | NerdWallet rating▼ | Monthly fee▼ | APY▼ | Bonus▼ | Learn more |
---|---|---|---|---|---|
American Express® Business Checking Learn more at American Express National Bank, Member FDIC | 5.0/5 | $0 | 1.30% With $0 min. balance for APY | N/A | Learn more at American Express National Bank, Member FDIC |
Bluevine Business Checking Learn more at Bluevine, Deposits are FDIC Insured | 4.7/5 | $0 | 1.50% With $0 min. balance for APY | $300 Requirements to qualify | Learn more at Bluevine, Deposits are FDIC Insured |
Grasshopper Business Checking Account Learn more at Grasshopper Bank, Member FDIC | 4.5/5 | $0 | 2.00% With $0 min. balance for APY | N/A | Learn more at Grasshopper Bank, Member FDIC |
Bank of America® Business Advantage Fundamentals™ Banking Learn more at Bank of America, N.A., Member FDIC | 4.5/5 | $16.00 $0 for the first 12 statement cycles. | N/A | $200 Requirements to qualify | Learn more at Bank of America, N.A., Member FDIC |
Excellent for Full-service business banking Chase Business Complete Banking® Learn more at Chase, Member FDIC | 4.5/5 | $15.00 Waived with $2,000 minimum balance | N/A | $300 Requirements to qualify | Learn more at Chase, Member FDIC |
nbkc Business Account Learn more at nbkc bank, Member FDIC | 4.9/5 | $0 | N/A | N/A | Learn more at nbkc bank, Member FDIC |
U.S. Bank Silver Business Checking Learn more at U.S. Bank, Member FDIC | 4.2/5 | $0 | N/A | $400 Requirements to qualify | Learn more at U.S. Bank, Member FDIC |
Excellent for Multiple business checking accounts (up to 20) Relay Business Checking Learn more at Relay, Deposits are FDIC Insured | 4.9/5 | $0 | N/A | $200 Requirements to qualify | Learn more at Relay, Deposits are FDIC Insured |
Axos Bank® Basic Business Checking Learn more at Axos Bank®, Member FDIC | 4.9/5 | $0 | N/A | $400 Requirements to qualify | Learn more at Axos Bank®, Member FDIC |
Best for | NerdWallet rating▼ | Monthly fee▼ | APY▼ | Bonus▼ | Learn more |
---|---|---|---|---|---|
American Express® Business Checking Learn more at American Express National Bank, Member FDIC | 5.0/5 | $0 | 1.30% With $0 min. balance for APY | N/A | Learn more at American Express National Bank, Member FDIC |
Bluevine Business Checking Learn more at Bluevine, Deposits are FDIC Insured | 4.7/5 | $0 | 1.50% With $0 min. balance for APY | $300 Requirements to qualify | Learn more at Bluevine, Deposits are FDIC Insured |
Grasshopper Business Checking Account Learn more at Grasshopper Bank, Member FDIC | 4.5/5 | $0 | 2.00% With $0 min. balance for APY | N/A | Learn more at Grasshopper Bank, Member FDIC |
Bank of America® Business Advantage Fundamentals™ Banking Learn more at Bank of America, N.A., Member FDIC | 4.5/5 | $16.00 $0 for the first 12 statement cycles. | N/A | $200 Requirements to qualify | Learn more at Bank of America, N.A., Member FDIC |
Excellent for Full-service business banking Chase Business Complete Banking® Learn more at Chase, Member FDIC | 4.5/5 | $15.00 Waived with $2,000 minimum balance | N/A | $300 Requirements to qualify | Learn more at Chase, Member FDIC |
nbkc Business Account Learn more at nbkc bank, Member FDIC | 4.9/5 | $0 | N/A | N/A | Learn more at nbkc bank, Member FDIC |
U.S. Bank Silver Business Checking Learn more at U.S. Bank, Member FDIC | 4.2/5 | $0 | N/A | $400 Requirements to qualify | Learn more at U.S. Bank, Member FDIC |
Excellent for Multiple business checking accounts (up to 20) Relay Business Checking Learn more at Relay, Deposits are FDIC Insured | 4.9/5 | $0 | N/A | $200 Requirements to qualify | Learn more at Relay, Deposits are FDIC Insured |
Axos Bank® Basic Business Checking Learn more at Axos Bank®, Member FDIC | 4.9/5 | $0 | N/A | $400 Requirements to qualify | Learn more at Axos Bank®, Member FDIC |
I'M INTERESTED IN:
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 domestic incoming wires.
- Earn 1.30% APY on balances up to $500,000.
- 24/7 customer support.
- No fees on withdrawals at more than 70,000 MoneyPass and Allpoint ATMs in the U.S.
Cons
- Can’t deposit cash.
- No outgoing international wire transfers.
Bluevine Business Checking
With $0 min. balance for APY
Fee of up to $4.95 per cash deposit.
Requirements to qualify
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions; no overdraft fees.
- Earn 1.50% 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.
Grasshopper Business Checking Account
With $0 min. balance for APY
No cash deposits.
Pros
- Unlimited 1% cash back on qualified debit card purchases.
- Earn up to 2.00% APY.
- No monthly fees or overdraft charges.
- Free, built-in bookkeeping software.
Cons
- Can’t deposit cash.
- $100 minimum opening deposit.
- No weekend support.
Bank of America® Business Advantage Fundamentals™ Banking
$0 for the first 12 statement cycles.
Up to $7,500 per statement cycle.
Requirements to qualify
Pros
- No monthly fee for the first 12 statement cycles.
- High cash deposit limits.
- Welcome offer for new accountholders.
- Loyalty perks via Preferred Rewards for Business program.
Cons
- $100 minimum opening deposit.
- Fee for using out-of-network ATMs.
nbkc Business Account
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 and Allpoint 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.
U.S. Bank Silver Business Checking
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 U.S. Bank and MoneyPass ATMs.
Cons
- Low cash deposit limits.
- Limit of 125 fee-free transactions per month.
- $1 fee for outgoing domestic ACH transfers.
Axos Bank® Basic Business Checking
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 AllPoint ATMs.
- Welcome bonus for new customers (terms apply).
Cons
- $25 fee for insufficient funds/uncollected funds returned.
- No third-party app integrations.
Our pick for
Full-service business banking
Chase Business Complete Banking®
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.
Our pick for
Multiple business checking accounts (up to 20)
Relay Business Checking
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
- Deposited checks are held for up to 6-7 business days.
- No bill pay feature in the free plan.
What factors should I look at when comparing business banking accounts?
- Minimum opening deposit: The amount that you’re required to deposit when you open your business banking account. These amounts can vary, and not all accounts require that you meet a specific minimum.
- Monthly fees: The fee the bank charges to maintain your account. The best business banking accounts have low or no monthly fees. Some banks charge a monthly fee but offer ways that you can qualify to waive them. In this case, make sure you can meet those qualifications on a continual basis to avoid incurring fees later.
- Transaction limits: Banks often place limits on the number of transactions a business can make with its account, including electronic transactions and checks. If you exceed your allotted number of monthly transactions, you typically face a small fee for each transaction you make. You’ll want to choose an account that can accommodate your average transaction volume.
- Cash deposit limit: This is the amount of cash you’re allowed to deposit into your account for free each billing period. Again, after you reach the allotted threshold, you’ll face a small fee for each cash deposit you make.
- ATM access: Where can you use your business debit card? Are there fees associated with using your card out of the bank’s ATM network? Does the business banking account offer any ATM fee reimbursements? Does your ATM access include both cash withdrawals and deposits? These are all relevant questions to consider.
- Additional fees: What other fees does the bank charge for using your business checking account? Fees to look out for include nonsufficient funds fees, overdraft fees, wire fees, stop payment fees and returned items fees.
- Included tools: What tools are offered with your business banking account? Many accounts offer free online and mobile banking, including mobile check deposit and online bill pay. Some accounts also offer other options for customizing your business banking, such as invoicing, online payments, third-party integrations and more.
- Interest: Some business banking accounts offer interest. With interest-earning accounts, make sure you can meet any minimum balance requirements and that the earning potential isn’t canceled out by fees. Conversely, if you’re looking to save on a longer-term basis and don’t need daily access to your funds, you might consider a business savings account as the best option for earning interest.
- Type of bank: Is the business banking account from a national, regional or local bank? Is it from an online bank, or maybe a credit union? There's a range of qualities typically associated with these different types of financial institutions that might make a difference to your business. An online-only bank, for example, may offer a free account that can be opened quickly and easily online but does not include access to a physical branch location. A local brick-and-mortar bank, on the other hand, may offer a more personalized customer experience but require that you apply for an account in person and only work with businesses within their county.