Every small business needs a business checking account. Like consumer checking accounts, these bank accounts allow you to manage your business’s everyday finances by making deposits, paying bills, budgeting and more.
In addition, a business checking account gives you the ability to separate your business and personal expenses, prepare for taxes and legitimately establish your business’s financial presence.
The best business checking accounts have low or no fees, ATM accessibility and online or mobile banking tools. Interest-earning accounts and accounts with integrated business tools are also a plus.
NerdWallet looked at some of the largest banks in the country, along with a few big online banks and notable regional banks, and compared their business checking accounts. Here are our top checking accounts for small businesses.
Best Business Checking Accounts From Our Partners
| Bank/institution | NerdWallet rating▼ | Monthly fee▼ | APY▼ | Bonus▼ | Learn more |
|---|---|---|---|---|---|
Bluevine Business Checking Learn more at Bluevine, Deposits are FDIC Insured | 5.0/5 | $0 | 2.00% With $0 min. balance for APY | $0 | Learn more at Bluevine, Deposits are FDIC Insured |
Bank of America® Business Advantage Fundamentals™ Banking Learn more at Bank of America, N.A., Member FDIC | 4.5/5 | $16.00 | N/A | $0 | Learn more at Bank of America, N.A., Member FDIC |
Chase Business Complete Banking® Learn more at Chase, Member FDIC | 4.5/5 Excellent for Full-service business banking | $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 | $0 | Learn more at nbkc bank, Member FDIC |
U.S. Bank Silver Business Checking Learn more at U.S. Bank, Member FDIC | 4.0/5 | $0 | N/A | $800 Requirements to qualify | Learn more at U.S. Bank, Member FDIC |
Relay Business Checking Learn more at Relay, Deposits are FDIC Insured | 4.7/5 Excellent for Multiple business checking accounts (up to 20) | $0 | N/A | $0 | Learn more at Relay, Deposits are FDIC Insured |
Axos Bank® Basic Business Checking Learn more at Axos Bank®, Member FDIC | 5.0/5 | $0 | N/A | $400 Requirements to qualify | Learn more at Axos Bank®, Member FDIC |
| Bank/institution | NerdWallet rating▼ | Monthly fee▼ | APY▼ | Bonus▼ | Learn more |
|---|---|---|---|---|---|
Bluevine Business Checking Learn more at Bluevine, Deposits are FDIC Insured | 5.0/5 | $0 | 2.00% With $0 min. balance for APY | $0 | Learn more at Bluevine, Deposits are FDIC Insured |
Bank of America® Business Advantage Fundamentals™ Banking Learn more at Bank of America, N.A., Member FDIC | 4.5/5 | $16.00 | N/A | $0 | Learn more at Bank of America, N.A., Member FDIC |
Chase Business Complete Banking® Learn more at Chase, Member FDIC | 4.5/5 Excellent for Full-service business banking | $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 | $0 | Learn more at nbkc bank, Member FDIC |
U.S. Bank Silver Business Checking Learn more at U.S. Bank, Member FDIC | 4.0/5 | $0 | N/A | $800 Requirements to qualify | Learn more at U.S. Bank, Member FDIC |
Relay Business Checking Learn more at Relay, Deposits are FDIC Insured | 4.7/5 Excellent for Multiple business checking accounts (up to 20) | $0 | N/A | $0 | Learn more at Relay, Deposits are FDIC Insured |
Axos Bank® Basic Business Checking Learn more at Axos Bank®, Member FDIC | 5.0/5 | $0 | N/A | $400 Requirements to qualify | Learn more at Axos Bank®, Member FDIC |
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Bluevine Business Checking
Read Review
Learn more
at Bluevine, Deposits are FDIC Insured
APY
2.00%
With $0 min. balance for APY
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
No
Fee of up to $4.95 per cash deposit.
Overdraft fees
$0
Bonus
$0
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.
Bank of America® Business Advantage Fundamentals™ Banking
Read Review
Learn more
at Bank of America, N.A., Member FDIC
APY
N/A
Monthly fee
$16.00
Min. opening deposit
$100
Free cash deposits
Yes
Up to $7,500 per statement cycle.
Overdraft fees
$10
Bonus
$0
See offer page for more details
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.
nbkc Business Account
Read Review
Learn more
at nbkc bank, Member FDIC
APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
Yes
Unlimited
Overdraft fees
$0
Bonus
$0
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.
U.S. Bank Silver Business Checking
Read Review
Learn more
at U.S. Bank, Member FDIC
APY
N/A
Monthly fee
$0
Min. opening deposit
$100
Free cash deposits
Yes
Up to $2,500 per month.
Overdraft fees
$36
Bonus
$800
Requirements to qualify
Pros
- No monthly service fee for Silver Business Checking account.
- Welcome bonus for new customers (terms apply).
- No fees at 4,700 U.S. Bank ATMs and access to 2,900 branches.
- No fees if account is overdrawn by $50 or less.
Cons
- Low cash deposit limits.
- Terms and fees are not easily accessible via the bank’s website.
- Limit of 125 fee-free transactions per month.
- $1 fee for outgoing domestic ACH transfers.
Axos Bank® Basic Business Checking
Read Review
Learn more
at Axos Bank®, Member FDIC
APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
Yes
Unlimited
Overdraft fees
$25
Bonus
$400
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 MoneyPass and AllPoint ATMs.
- 24/7 customer support.
- 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®
Read Review
Learn more
at Chase, Member FDIC
APY
N/A
Monthly fee
$15.00
Waived with $2,000 minimum balance
Min. opening deposit
$0
Free cash deposits
Yes
Up to $5,000 per month.
Overdraft fees
$34
Bonus
$300
Requirements to qualify
Chase Business Complete Checking is a digital-friendly small business bank account that includes access to over 16,000 Chase ATMs and 4,700 branches across the U.S. This account has no minimum opening deposit, includes unlimited electronic deposits and offers the opportunity to earn a $300 sign-up bonus.
In addition, Chase Business Complete Checking gives you the ability to deposit up to $5,000 in cash per month for free, make 20 physical fee-free transactions per month and use Chase QuickAccept℠ to accept credit card payments with the Chase mobile app (associated processing fees apply).
That said, this Chase business checking account does have a monthly maintenance fee, $15, but there are multiple ways to waive it, including maintaining a daily minimum balance of $2,000.
Eligible entity types also have the option to open the Chase Business Complete Checking account online as well as by visiting a branch location.
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
Multiple business checking accounts (up to 20)
Relay Business Checking
Read Review
Learn more
at Relay, Deposits are FDIC Insured
APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
Yes
Unlimited
Overdraft fees
$0
Bonus
$0
Relay is a free online banking platform designed to help small businesses streamline financial management. With Relay, you have access to up to 20 checking accounts (10 for sole proprietorships) and up to 50 business debit cards — with no monthly fees.
Relay also includes unlimited fee-free transactions, the ability to withdraw cash fee-free at over 32,000 Allpoint ATMs and 24/7 customer support. Relay does not, however, currently offer the ability to deposit cash at ATMs.
This online platform doesn’t charge overdraft fees, includes free incoming wires and allows you to invite team members to your account. You can also connect direct bank feeds to QuickBooks Online and Xero, as well as integrate with Expensify, Gusto, Plaid and Wise.
If you want to access additional accounts payable features, you can upgrade your account to Relay Pro for $30 per month.
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 Mastercard abroad.
- Free incoming wires and low outgoing wire transfer fees.
Cons
- Phone support only available during business hours.
- 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 checking accounts?
Depending on your small business’s needs, you may want to consider the following features when choosing a business checking account:
- Minimum opening deposit: The amount that you’re required to deposit when you open your business checking 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 checking 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 checking 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 checking 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 checking 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 checking 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.
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Frequently Asked Questions
It’s highly recommended that you open a separate bank account for your business.
With a business bank account, you'll deposit checks made out to your company in your business checking, not your personal checking account. Likewise, you'll pay business expenses out of the business account.
Having separate accounts and separate record-keeping makes it easier to deduct business expenses for taxes. It also better protects you if legal action is taken against your company. Having commingled accounts may put your personal assets at risk in a lawsuit.
Credit unions typically have low or no monthly fees for their business bank accounts, and they’re known for good customer service. In addition, credit unions can have high cash deposit limits, making them a good choice for restaurants and other businesses that deal mostly in cash.
Keep in mind that credit unions might have just a few locations and ATMs, compared with major bank chains, which can have national reach.
If you qualify for membership, however, they’re worth considering. Compare some strong options in our roundup of NerdWallet’s Best Credit Unions.
Your personal bank can be a good first stop when shopping for a business checking account. In fact, 79% of business owners surveyed in 2019 by BAI, a research and training nonprofit for business owners, reported using the same provider for personal and business financial services relationships.
However, you should compare multiple accounts to make sure you’ll be paying the fewest fees and getting the most benefit out of your business checking account. You may find another bank can offer a higher level of customer service, fewer transaction limits or greater ATM access.
Start your search with our roundup of the best banks for small business.
To open a business checking account, you’ll be required to provide basic information about yourself and your business. You’ll also need to provide personal identification, such as a government-issued ID and Social Security number, as well as legal business documentation.
Learn more about the process in our comprehensive guide.