Every entrepreneur should separate their personal and professional finances, and a business checking account is a simple way to do so. It's an easy-to-use, inexpensive home for your company's cash.
The best business checking accounts offer perks like interest on your balances, cash back on debit card spending, automatic ATM fee refunds and 24/7 customer support, all for little to no monthly fee.
Our top overall picks include:
Best online business checking account: American Express® Business Checking.
Best brick-and-mortar business checking account: Chase Business Complete Banking®.
Best high-yield business checking account: Bluevine Business Checking.
But the right choice for your company will match your priorities — whether that’s high interest rates, lots of small-business bank branches, the ability to deposit cash or built-in software tools. Our complete list highlights business checking options that can suit any need, including those that didn't quite make the cut but may still be useful for some entrepreneurs.
250+ small-business products reviewed and rated by our team of experts.
95+ years of combined experience covering small-business and personal finance.
Objective comprehensive business bank accounts rubric (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.
Our Nerdy picks for
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Our pick for
High-yield business checking
Bluevine's APY is hard to beat, and users can upgrade for an even higher rate. This online account also offers expanded FDIC insurance, covering up to $3 million instead of the usual $250,000.
Bluevine Business Checking
4.7
NerdWallet rating
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
Fees vary by location.
Overdraft fees
$0
Bonus
N/A
The Bluevine Business Checking account earns 2.00%
One key downside: Bluevine doesn't offer free cash deposits. At Green Dot locations, you'll pay a fee of up to $4.95 per deposit and face caps of $500 per deposit and $2,000 per day. At Allpoint+ ATMs, you'll pay a fee of $1 plus 0.5% of the deposit amount (though deposit limits are much higher, at $5,500 per day.)
Read full review
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 MoneyPass ATMs.
- Free incoming wires and low outgoing wire transfer fees.
Cons
- Fee for cash deposits.
- Fee for using out-of-network ATMs.
- No joint accounts.
Read full review
Our pick for
Online business checking account
American Express offers business checking customers a competitive APY, few fees and a sign-up bonus. Plus, you can talk to someone on the phone 24/7.
American Express® Business Checking
5.0
NerdWallet rating
at American Express National Bank, Member FDIC
APY
1.30%
With $0 min. balance for APY
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
No
No cash deposits.
Overdraft fees
N/A
Bonus
N/A
There's a lot to like about the American Express Business Checking account, including no monthly fees, a competitive interest rate, 24/7 customer support and a generous welcome bonus. The only major downside is that you can't deposit cash.
Read full review
Pros
- No monthly fees or minimum opening deposit.
- No excess transaction fees and no charge for incoming wires.
- Earn 1.30% APY on balances up to $500,000.
- 24/7 customer support.
- No fees at more than 70,000 MoneyPass and Allpoint ATMs in the U.S.
Cons
- Can’t deposit cash.
- No outgoing international wire transfers.
Read full review
Our pick for
Businesses that often handle cash
Bank of America stands out for its big branch and ATM network, and its $7,500 monthly cash deposit limit is higher than many of its competitors.
Bank of America® Business Advantage Fundamentals™ Banking
4.5
NerdWallet rating
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
$200
Requirements to qualify
This account has a high cash deposit allowance for a brick-and-mortar bank and offers fee-free electronic transactions. Plus, you can open an account entirely online.
The downsides: There is a $16 monthly fee (though there are multiple ways to waive it), and you'll pay to use non-Bank of America ATMs.
Read full review
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.
Read full review
Our pick for
Built-in invoicing and bookkeeping
Online-only bank Grasshopper offers useful invoicing and bookkeeping tools. Beyond that, it pays 1% cash back on qualifying debit card purchases and offers a solid APY, which could add up to significant rewards for some businesses.
Grasshopper Business Checking Account
4.5
NerdWallet rating
at Grasshopper Bank, Member FDIC
APY
2.25%
With $0 min. balance for APY
Monthly fee
$0
Min. opening deposit
$100
Free cash deposits
No
No cash deposits.
Overdraft fees
$0
Bonus
N/A
Grasshopper bank’s business checking account pays you two ways: You can earn unlimited 1% cash back on qualified purchases and up to 2.25%
Grasshopper's business account has no monthly fees or overdraft charges and fee-free access to more than 45,000 ATMs via the MoneyPass and SUM networks (third-party fees may apply outside of these networks).
The downsides: You can't deposit cash and the account requires a $100 minimum opening deposit.
Read full review
Pros
- Unlimited 1% cash back on qualified debit card purchases.
- Earn up to 2.25% APY.
- No monthly fees or overdraft charges.
- Free, built-in bookkeeping software.
Cons
- Can’t deposit cash.
- $100 minimum opening deposit.
- No weekend support.
Read full review
Our pick for
Multiple accounts
Relay offers a straightforward, free online business banking solution that lets business owners open up to 20 checking accounts and create multiple user roles.
Relay Business Checking
4.7
NerdWallet rating
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
$100
Requirements to qualify
Relay’s free online business checking account comes with several features that benefit midsize businesses and rapidly growing startups, including the option to open multiple accounts (up to 20; 10 for sole proprietorships) and the ability to invite team members, assign roles and permissions, and set spending limits.
Relay has no monthly fees, includes unlimited fee-free transactions and free incoming wires, and allows for direct integrations with QuickBooks Online and Xero.
The downside: There's a long hold time for deposited checks (six to seven business days).
Read full review
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
- 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.
Read full review
Our pick for
Low fees on banking services
NBKC charges remarkably few fees —there's no monthly fee nor a fee on transactions, ATM withdrawals, incoming wires or overdrafts.
nbkc Business Account
4.9
NerdWallet rating
at nbkc bank, Member FDIC
APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
Yes
Unlimited
Overdraft fees
$0
Bonus
N/A
NBKC’s Business Account is a free business checking account with no monthly fees, no minimum balance requirement and no opening deposit requirement. This account includes unlimited transactions, fee-free ATM access through the MoneyPass network (with the ability to deposit cash) and up to $12 in monthly refunds for ATM fees charged by other banks worldwide.
Additionally, there are no incoming domestic wire fees, overdraft, stop payment, or other similar incidental fees with the NBKC business checking account. You’ll only face fees for outgoing domestic wires ($5) and incoming and outgoing international wires ($45).
The downside: NBKC doesn’t offer direct integration with any invoicing or bookkeeping tools, a common feature among online business checking accounts. You can add on Autobooks for $10 per month.
Read full review
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.
Read full review
Our pick for
Sign-up bonus
U.S. Bank offers a hefty sign-up bonus and no monthly fee, both of which set it apart from other brick-and-mortar options.
U.S. Bank Silver Business Checking
4.0
NerdWallet rating
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
A free business checking account from a big brick-and-mortar bank is rare on its own. But U.S. Bank's Silver Business Checking Account ups the ante with a whopper of a welcome offer: .
The downside: Silver Business Checking has a stingy transaction limit (125 free transactions per statement cycle), especially when compared with similar accounts from competitors. Though most of those accounts carry a monthly fee.
Read full review
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.
Read full review
Our pick for
Brick-and-mortar business checking account
Chase is our top-rated brick-and-mortar business checking account. It comes with built-in payment processing plus a generous overdraft policy: $50 of wiggle room and 24 hours to get your account back in the black before fees kick in.
Chase Business Complete Banking®
4.5
NerdWallet rating
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 customers get the best of both worlds: top-notch digital tools, including the ability to accept credit card payments via QuickAccept℠ using the Chase mobile app (associated processing fees apply), alongside one of the largest branch networks in the country.
Chase Business Complete Checking includes unlimited electronic deposits and access to thousands of ATM and branch locations nationwide. Plus, there is a welcome bonus for new customers. Terms apply.
The downsides: The account has a $15 monthly maintenance fee (multiple ways to waive) and caps in-person transactions at 20 per month.
Read full review
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.
Read full review
Our pick for
24/7 customer support
Axos customers can talk to a human around the clock. Plus, the bank charges no ATM fees and gives unlimited refunds on the fees charged by other ATM operators.
Axos Bank® Basic Business Checking
5.0
NerdWallet rating
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
Axos Bank’s Basic Business Checking account includes free, unlimited cash deposits via compatible AllPoint and MoneyPass ATMs — a feature matched by few other business checking accounts.
The free online business account has no monthly fee or minimum opening deposit requirement, delivers 24/7 customer support and offers free nationwide ATM access with unlimited refunds for fees charged by other banks and ATM operators in the U.S.
The downside: Unlike some other online business accounts, Axos does charge for overdrafts and returned payments.
Read full review
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.
Read full review
Our pick for
Side hustlers and gig workers
Found's bookkeeping, invoicing and tax-planning tools and integration with business apps make it a great choice for solopreneurs.
Found Small Business Banking
4.4
NerdWallet rating
at Found, Deposits are FDIC Insured
APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
No
$2 fee per deposit
Overdraft fees
$0
Bonus
$20
Requirements to qualify
Found business checking is a great starter kit for gig workers and independent contractors looking to level up their side hustle. The account offers direct integration with popular business apps, including Etsy, PayPal, Uber, Lyft and Instacart, as well as built-in bookkeeping, invoicing and tax-planning tools. Plus, this free business checking account has no monthly fees, overdraft fees or minimum opening deposit.
The downsides: Limits on deposits and transfers can be low and you can't send wire transfers.
Read full review
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions, no overdraft fees and free incoming domestic wires.
- Free, built-in invoicing, bookkeeping and tax-planning features.
- Integrates with popular business apps, including Stripe, Etsy and PayPal.
Cons
- Phone support only available during business hours.
- Have to open account in your name, not business name, and use your SSN to apply. (Business EIN can be added later.)
- No outgoing wires. Can’t pay by check.
- Cash deposits limited to $2,000 per week; $4,000 per month. A $2 service fee applies.
- No bill pay feature.
Read full review
Our pick for
Cash management
Rho's business checking account can be linked to a cash management account, a financial tool to earn extra-high APYs on your balances.
Rho Business Checking
4.2
NerdWallet rating
at Rho, Federally insured by NCUA
APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
N/A
Overdraft fees
N/A
Bonus
N/A
Rho’s business checking account stands out for its free same-day ACH and wire transfers and 24/7 customer support. It’s a good choice for cashless corporations, especially those handling large amounts of money. However, it's not available to sole proprietors and doesn't support ATM access.
Read full review
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions; no overdraft fees.
- Free same-day ACH transfers.
- Free domestic wires.
- Free international wires (though third-party fees may apply).
- 24/7 customer support on weekdays.
Cons
- No ATM access.
- Not available to sole proprietors.
Read full review
Our pick for
Cash back on debit card purchases
LendingClub offers 1% cash back on all debit card purchases and pays interest, making it a great option for businesses seeking rewards. Plus, users pay no ATM fees and get unlimited reimbursem*nts on those charged by ATM owners.
LendingClub Tailored Checking
4.9
NerdWallet rating
APY
1.50%
With $0 min. balance for APY
Monthly fee
$10.00
Waived with $500 minimum balance
Min. opening deposit
$100
Free cash deposits
Yes
Unlimited
Overdraft fees
$0
Bonus
N/A
LendingClub Tailored Checking pays you back in two ways: You get unlimited 1% cash back on qualifying debit card purchases (terms apply) and earn 1.50%
Beyond that, LendingClub Tailored Checking offers unlimited transactions, fee-free ATM access (with the ability to deposit cash) and unlimited reimbursem*nts for ATM fees charged by other banks.
The downside: This account requires a $100 minimum opening deposit and has a $10 monthly maintenance fee (waived with a minimum balance of $500).
Read full review
Pros
- Unlimited fee-free transactions; no overdraft fees.
- Earn 1.50% APY on balances up to $100,000 and 0.10% on all balances after that.
- Fee-free ATM access with automatic refund of third-party ATM fees (worldwide).
- Cash deposits via MoneyPass and SUM ATMs.
- Earn unlimited 1% cash back on debit card purchases.
Cons
- $10 monthly fee.
- $100 minimum opening deposit requirement.
- Minimum $500 balance required to earn cash-back rewards and waive monthly fee.
- Limits of $10,000 on both incoming and outgoing ACH transfers.
Read full review
Our pick for
Built-in payment processing
QuickBooks Money includes both a business checking account and a payment processor, allowing you to send customers invoices and take their payments without using a third-party service. This can mean faster access to your funds, too.
QuickBooks Money
4.4
NerdWallet rating
APY
5.00%
With $0 min. balance for APY
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
No
Fees of up to $5.95 may be collected by retailers when depositing cash to your account at their locations.
Overdraft fees
N/A
Bonus
N/A
QuickBooks Money's business checking account has no monthly fee and pays up to 5% APY on funds that customers move into so-called savings "envelopes." It also includes payment processing services. That makes it a solid choice for the owners of new or very small businesses who make most of their transactions online and want to earn interest.
Drawbacks: Stingy cash withdrawal limits and no checks.
Read full review
Pros
- Account holders can set money aside for specific purposes and earn 5% APY on it.
- Built-in invoicing.
- Built-in payment processing, which means same-day availability for some funds.
Cons
- No check writing.
- Only four free ATM withdrawals per month; $3 per withdrawal after that.
Read full review
Business checking accounts that didn't make the list
The following didn't make our top picks, but may still make sense for certain businesses.
Brex Business Account:
4.5
stars. Brex is a great cash management account option. It's not included in our top picks for businesses, though, because it's only available to a small number of them — venture-backed startups or mid-market companies with annual revenue in the millions. More businesses can take advantage of similar tools with Rho.Novo Business Checking:
4.4
stars. Novo's bare-bones online account is still a good choice for solopreneurs and small, online-only companies. But its standout feature — invoicing —is also offered by Grasshopper and QuickBooks Money, both of which include additional perks for free (bookkeeping tools and built-in payment processing, respectively).Lili Basic Business Checking:
4.3
stars. Lili has tools to help freelancers with tasks like tax planning and bookkeeping. Unfortunately, you'll have to pay a monthly fee to access most of them. Found offers a similar suite for free.Mercury Business Bank Account:
4.1
stars. Mercury is in the cash management account family alongside Rho and Brex, and like both, it's a solid product. Rho has a slight edge, though, thanks to its 24/7 customer support on weekdays.NorthOne Standard Business Checking:
4
stars. Instant deposits from platforms like Amazon, Etsy, Shopify and Square make this online account worth a look for e-commerce sellers. But NorthOne is less valuable if you also deal with cash, as the account lacks fee-free access to an ATM network. Take a look at Lili and QuickBooks Money as alternatives —both offer some form of early access to payments (ACH transfers and payments processed by QuickBooks Payments, respectively), plus fee-free access to some ATMs.
Navy Federal Credit Union Business Checking: 4.2 stars. Navy Federal Credit Union is a great choice for veteran-owned businesses, given its 24/7 customer service and unlimited cash deposits. But if all of your business's owners don't qualify for membership, this won't be an option for you.
CitiBusiness® Streamlined Checking:
4
stars. This account stands out for high fee-free cash deposit and transaction limits, but Citi has a relatively small footprint — and you have to visit a branch to sign up. If you don’t live in an area served by Citi, Bank of America is a good alternative. BofA’s $7,500 fee-free cash deposit limit rivals Citi's $10,000 limit, and you’ll get unlimited electronic transactions and 200 in-person fee-free transactions.Capital One Business Basic Checking®:
4
stars. This account offers unlimited transactions, which is rare among brick-and-mortar banks, but it’s only available in limited markets. If you value that flexibility but don't live in one of the eight states (plus Washington, D.C.) served by Capital One, consider an online business bank account. Bluevine, for instance, offers unlimited transactions plus interest on the funds in your account.BMO Simple Business Checking:
4
stars. The biggest selling point for BMO’s entry-level account is its $10 monthly fee, which you can waive with a monthly balance of just $100. That’s cheap for in-person banking. But U.S. Bank is cheaper, offering an account with no monthly maintenance fee. Neither option’s features are especially generous otherwise (especially when it comes to transactions), but U.S. Bank at least includes a hefty sign-up bonus.Wells Fargo Initiate Business Checking℠ Account:
4
stars. Wells Fargo's business checking account is pretty standard among brick-and-mortar options, with its standout feature being the bank’s roughly 4,400 branch locations and 11,000 ATMs. Bank of America and Chase offer similarly robust ATM and branch networks, and both rate higher than Wells Fargo thanks to unlimited electronic transactions and sign-up bonuses.TD Business Simple Checking℠:
3.9
stars. This account is worth a look if you want 24/7 live customer service, but there's not much else to set it apart. American Express lacks TD Bank’s physical footprint, but may still be a good alternative: That account also offers round-the-clock phone support, plus interest on your balances and even has a much larger ATM network than TD Bank doesHuntington Bank Business Checking 100:
3.9
stars. Huntington has a generous 24-hour grace period on overdrafts, but low transaction and cash deposit limits. Chase, on the other hand, gives you until the end of the next business day to resolve overdrafts, plus unlimited electronic and debit card transactions and twice as much per month in fee-free cash deposits.Truist Simple Business Checking:
3.5
stars. Truist loses points for a very stingy limit of 50 free transactions. You'll also have to pay a $14.95 monthly fee for integration with QuickBooks. Consider Chase and Bank of America for brick-and-mortar banking instead. Both offer unlimited digital transactions plus free QuickBooks integration.PNC Business Checking:
3.5
stars. PNC charges all the usual fees that brick-and-mortar banks do, with particularly high wire transfer fees — like $95 per outgoing domestic wire. For a low-fee experience, take a look at NBKC instead. You’ll pay no monthly fee, get unlimited transactions (including ACH transfers) and pay just $5 per outgoing domestic wire
Prefer a smaller institution? Check out our list of credit unions that offer business accounts or use the below tool to see which local banks in your state offer free small-business checking accounts.
What is a business checking account?
A business checking account is a secure place to store your company's cash as payments go out and come in.
In general, you can spend the money in your business checking account immediately. You can access your funds by using a debit card, sending ACH or wire transfers, writing checks or withdrawing cash. And when you use a point-of-sale system or payment processor to take payments, that software can deposit customers' payments into your business checking account.
As a rule, business checking accounts should be FDIC insured up to $250,000. That means, if the bank holding your funds were to fail, the Federal Deposit Insurance Corp. would cover up to $250,000 in lost cash. Some accounts offer even more FDIC insurance coverage through Insured Cash Sweep networks. Credit unions are similarly insured through the National Credit Union Administration (NCUA).
Do not use a checking account that isn't FDIC or NCUA insured.
🤓 Nerdy Tip
Some of the accounts on our list come from financial technology companies or "neobanks," not traditional banks. Neobanks typically partner with FDIC-insured banks; the banks actually hold customers' funds while the fintech companies provide the software experience. If a neobank ever fails, you should still be able to recover your funds —but you may have to deal with frozen accounts, failed transactions or other headaches along the way. Learn more.
Who should get a business checking account?
Anyone who owns a business should have a business checking account. That includes corporations and LLCs, as well as sole proprietors and freelancers.
Using a dedicated business bank account for your business income and expenses helps streamline record-keeping, making it easier to file taxes and gather the financial statements you'll need to apply for small-business grants and business loans.
A separate small-business checking account draws a clear line between business and personal expenses, too, which can help shield your personal assets if your company is sued.
» MORE: Best business bank accounts for LLCs
How to compare business checking accounts
When comparing small-business checking accounts, first determine what’s most important to your business — whether it’s cash deposits, branch access, low fees or something else — to narrow your options. Then dig into the details of each potential account, including the following.
1. Fees on banking services
Common fees charged by business bank account providers include:
Monthly fees: Some business checking accounts charge monthly maintenance fees of around $15. Most offer to waive this fee if you maintain a certain average balance, make a certain number of transactions each month or both. Free business checking accounts have no monthly fee.
ATM fees: Some small-business banks charge $2 to $3 if you use an ATM outside of the bank’s own ATM network; others don't. In most cases, you'll have to pay fees charged by the owner of any third-party ATM you use — though a handful of business banking accounts will automatically refund some or all of your ATM fees.
Overdraft fees: Dipping into the red on your business checking account can cost anywhere from $10 to $39 in overdraft or non-sufficient funds fees, sometimes multiple times per day.Some banks, including Chase, Axos and Huntington, offer a grace period on overdrafts (up to a certain amount) to give small businesses some wiggle room.
Wire transfer fees: Wire transfer fees are common; most customers should expect to pay up to $15 to receive a transfer and up to $40 to send one. If your business relies on wire transfers, consider an account with Mercury or Brex, both of which charge no fees to receive or send.
ACH fees: ACH transfers are usually free, but they take one or two business days to complete. Expect to pay a fee for same-day ACH.
See below for breakdowns of these fees for the checking accounts on our list of top picks.
Account | Excess Transaction Fee | ATM Fees | Wire Fees | Complete Rates and Fees |
|---|---|---|---|---|
American Express® Business Checking | None (unlimited transactions). | Fee-free ATMs: MoneyPass network. Out-of-network fees: None. Third-party ATM fee refunds: None. | Incoming: Free. Outgoing domestic: $25. Outgoing international: Not supported. | |
Axos Bank® Basic Business Checking | None (unlimited transactions). | Fee-free ATMs: Due to fee refunds, every ATM is essentially fee-free. Out-of-network fees: None. Third-party ATM fee refunds: Unlimited domestic. | Incoming: Free. Outgoing domestic: $35. Outgoing international: $45. | |
Bank of America® Business Advantage Fundamentals™ Banking | Unlimited electronic. 200 non-electronic, then 45 cents each. | Fee-free ATMs: Bank of America. Out-of-network fees: $2.50 U.S.; $5 international. Third-party ATM fee refunds: None. | Incoming: $15. Outgoing domestic: $30. Outgoing international: $45. | |
Bluevine Business Checking | None (unlimited transactions). | Fee-free ATMs: MoneyPass network. Out-of-network fees: $2.50. Third-party ATM fee refunds: None. | Incoming: Free. Outgoing domestic: $10. Outgoing international; $25. | |
Chase Business Complete Banking ® | Unlimited electronic transactions. 20 non-electronic transactions, then 40 cents each. | Fee-free ATMs: Chase network. Out-of-network fees: $3 domestic, $5 international. Third-party ATM fee refunds: None. | Incoming: Free from other Chase accounts. Otherwise, $15. Outgoing domestic: $25, or $35 if sent from a Chase branch location. Outgoing international: $40. | |
Found Small Business Banking | None (unlimited transactions). | Fee-free ATMs: None. Found is not part of a fee-free ATM network. Out-of-network fees: None. Third-party ATM fee refunds: None. | Incoming domestic: Free. Incoming international: Not supported. All outgoing wires: Not supported. | |
Grasshopper Business Checking Account | None (unlimited transactions). | Fee-free ATMs: MoneyPass and SUM networks. Out-of-network fees: Not disclosed. Third-party ATM fee refunds: None. | Incoming domestic: Free. Incoming international: $5. Outgoing domestic: $10. Outgoing international: $25. | |
LendingClub Tailored Checking | None (unlimited transactions). | Fee-free ATMs: Due to fee refunds, every ATM is essentially fee-free. Out-of-network fees: None. Third-party ATM fee refunds: Unlimited domestic and international. | Incoming domestic: Free. Incoming international: Free. Outgoing domestic: $18. Outgoing international: $40. | |
nbkc Business Account | None (unlimited transactions). | Fee-free ATMs: MoneyPass and NBKC networks. Out-of-network fees: None. Third-party ATM fee refunds: Up to $12 monthly. | Incoming domestic: $0. Incoming international: $45. Outgoing domestic: $5. Outgoing international: $45. | |
QuickBooks Money | None (unlimited transactions). | Fee-free ATMs: Four free withdrawals per month at AllPoint network. $3 each after that. Out-of-network fees: $3. Third-party ATM fee refunds: None. | Incoming: Not disclosed. Outgoing domestic: Not disclosed. Outgoing international: Not disclosed. | |
Relay Business Checking | None (unlimited transactions). | Fee-free ATMs: Allpoint network. Out-of-network fees: None. Third-party ATM fee refunds: None. | Incoming: None. Outgoing domestic: $5. Outgoing international: $10. | |
Rho Business Checking | None (unlimited transactions). | Fee-free ATMs: None. Rho is not part of a fee-free ATM network. Out-of-network fees: None. Third-party ATM fee refunds: None. | Incoming: None. Outgoing domestic: Free. Outgoing international: Free. | |
U.S. Bank U.S. Bank Silver Business Checking | 125 free transactions (electronic and non-electronic). 50 cents each after that. | Fee-free ATMs: U.S. Bank ATMs. Out-of-network fees: None. Third-party ATM fee refunds: None. | Incoming domestic: $14 or $16. Incoming international: $16. Outgoing domestic: $30 or $40 if sent from a branch. Outgoing international: $75. |
2. Transaction and cash deposit limits
Transaction limits and cash deposits limits are common with business checking accounts, especially those from brick-and-mortar banks.
A cash deposit limit of up to to $5,000 is typical for entry-level business accounts at brick-and-mortar banks. Beyond that, you'll likely pay a fee. Most accounts offer 100 to 500 free transactions per month and charge fees for additional ones.
Online business checking accounts usually include unlimited fee-free transactions, but you'll face other limits — for instance, on how much you can deposit or transfer per day and per month.
Review your banking history to ensure you won’t bump up against these limits and run into extra fees.
» MORE: What you need to open a business bank account
3. Access to cash and checks
There are a lot of ways to access the money in your business checking account: checks, ACH transfers, online bill pay and cash withdrawal (in person or via ATM).
Traditional brick-and-mortar banks typically offer all of these options, though they tend to limit the number of free transactions you can make each month. If in-person banking or ATM access is at the top of your priority list, scan the bank’s branch and ATM network to ensure there are close and convenient options.
Neobanks are more likely to offer unlimited transactions, but they may not offer those other tools — for instance, they don't always issue checkbooks. Most neobank customers have fee-free access to an ATM network, but no branches.
4. Interest or cash back
A business checking account should do more than just hold your money. Several of our top picks have annual percentage yields of 1% APY or higher. Some accounts also pay customers cash back on debit card purchases, similar to what you'd expect from a credit card.
🤓 Nerdy Tip
Want to earn more in interest? Consider a business savings account or business money market account for longer-term savings. Some business savings accounts earn more than 4% APY.
Look for business bank account promotions when you're opening an account, too. Some small-business checking accounts offer cash bonuses to new customers who meet specific requirements, like maintaining a certain balance for several months after opening the account.
5. Built-in software tools and integrations
Some business checking accounts for freelancers offer built-in invoicing and bookeeping tools. Others integrate directly with gig work or e-commerce apps, like DoorDash and Etsy.
Still other accounts come with payment processing built in. That can help you take customers' credit or debit card payments in person or collect online payments without relying on a third party.
A more established business may want an account that easily integrates with its existing business software tools. Most accounts should offer integrations with popular software like QuickBooks.
Note on American Express® Business Checking
