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.
No third-party app integrations.

How does nbkc bank compare?

nbkc Business Account Member FDIC	Bluevine Business Checking Deposits are FDIC Insured	Relay Business Checking Deposits are FDIC Insured
NerdWallet rating Learn more at nbkc bank	NerdWallet rating Learn more at Bluevine	NerdWallet rating Learn more at Relay
Monthly fee $0	Monthly fee $0	Monthly fee $0
APY N/A	APY 1.50% With $0 min. balance for APY	APY N/A
Bonus N/A	Bonus $300 Requirements to qualify	Bonus $300 Requirements to qualify

Full Review

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.
Prefer to use multiple products from the same small-business bank.
Primarily bank online, but need cash deposits.

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

1.8

%) 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.

Learn more

at nbkc bank, Member FDIC

Methodology

NerdWallet's business checking reviews look at multiple factors, including monthly fee, APY, ATM access, transaction limits, cash deposit allowance, customer service, additional features and incidental fees, such as overdraft, NSF and stop payment charges.

About the author:

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 in The Washington Post, The Associated Press, MarketWatch and Nasdaq, among other publications. She has also hosted a webinar as part of the SBA's 2024 National Small Business Week Virtual Summit. Randa is passionate about helping small-business owners make educated financial decisions, especially when it comes to affordable funding. She is based in New York City.

Kelsey Sheehy is a senior writer and NerdWallet authority on small business. She started at NerdWallet in 2015 and spent six years as a personal finance writer and spokesperson before switching gears to cover the financial decisions and challenges faced by small-business owners. Kelsey’s work has appeared in The New York Times, The Washington Post, Nasdaq and MarketWatch, among other publications. Kelsey has appeared on the "Today" show, NBC News and ABC’s "World News Tonight" and has been quoted by the Los Angeles Times, CNBC, American Banker, NPR and Vice, among other publications. Prior to joining NerdWallet, Kelsey covered college (and how to pay for it) for U.S. News & World Report. She is based in Washington, D.C.

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