The best banks for startups offer low- or no-fee business checking accounts, strong business support products, and services specifically geared toward early-stage companies. Access to lending options like lines of credit and SBA loans is critical for funding growth and expansion. When selecting the best bank for your startup business, look for one that offers scalable solutions to support your financial needs as your company grows and evolves.
After reviewing over 100 banks, here are the 10 best banks and fintechs for a startup business, with links directly to the provider:
- Chase Member Federal Deposit Insurance Corp. (FDIC). : Best overall bank for startups with full-service banking
- Bluevine Provider is a fintech platform backed by and FDIC-insured through supporting bank partnerships. Checking and card services are provided by Webster Bank, N.A., member FDIC; savings account services are provided by American Deposit Management Co. and its partner banks. : Best for earning interest on smaller balances and best business line of credit
- Relay Provider is a fintech platform backed by and FDIC-insured through supporting bank partnerships. Checking and card services are provided by Webster Bank, N.A., member FDIC; savings account services are provided by American Deposit Management Co. and its partner banks. : Best for businesses looking for a simple way to track finances
- Mercury Provider is a fintech platform backed by and FDIC-insured through supporting bank partnerships. Checking and card services are provided by Webster Bank, N.A., member FDIC; savings account services are provided by American Deposit Management Co. and its partner banks. : Best for larger-scale incorporated startups
- Found Found is a financial technology company, not a bank. Banking services are provided by Piermont Bank, Member FDIC. The Found Mastercard debit card is issued by Piermont Bank pursuant to a license from Mastercard Inc. : Best digital-only provider for self-employed startups
- Novo Provider is a financial technology (fintech) platform backed by and FDIC-insured through a supporting bank partnership with Middlesex Federal Savings. : Best for rapid access to funds and faster payments
- Lili Lili is a financial technology company, not a bank. Banking services provided by Sunrise Banks N.A., Member FDIC. : Best for startups needing digital tax preparation assistance
- Grasshopper Member FDIC. : Best for earning interest on larger checking balances
- U.S. Bank Member FDIC. : Best for free business checking with a traditional bank
- Rho Provider is a fintech platform backed by and FDIC-insured through supporting bank partnerships. Checking and card services are provided by Webster Bank, N.A., member FDIC; savings account services are provided by American Deposit Management Co. and its partner banks. : Best for startups needing spend management and automated banking
With a decade of banking experience, my solid financial background helps me provide the best answers to our audience in line with the Fit Small Business editorial policy.
I strive for accuracy, clarity, and objectivity in writing reviews and guides to ensure that small business owners can access impartial and critical information that supports their business decisions.
I also completed a Business degree and have substantial experience in facilitating account opening, performing KYC, and cross-selling different banking and investment products and services to both retail and preferred clients.
Looking for a solid banking solution? Earn $500 with U.S. Bank Business Essentials. Terms apply. |
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Earn a $500 bonus when you open a U.S. Bank Business Essentials Account or $900 when you open a Platinum Business Checking Account online with promo code Q2AFL25 and complete qualifying activities, subject to certain terms and limitations. Offer valid through June 30, 2025. Member FDIC. |
Best banks for startups at a glance
Chase: Overall best bank for startups with full-service banking
Full-service traditional banking offers growing startups robust branch and digital access, scalable checking accounts, and essential business tools.
What We Like
- Up to $500 bonus when you open an account
- Multiple ways to waive the monthly fee
- Branch presence in 48 states
Drawbacks
- Limited number of free transactions
- Does not earn interest
- Fee for cash deposits of more than $5,000 per statement period
Features
- Built-in card acceptance with QuickAccept℠ via the Chase Mobile® app
- Manage debit, deposit, and ATM card settings for individual employees
- Deposit checks, view account balances, pay bills, and make transfers through the mobile app
- Integrates with QuickBooks and other leading accounting software
- Free debit card, mailed within 10 business days of application approval
- Physical checks’ costs depend on type ordered
- Chase Payment Solutions
- Live customer support online or in branch during business hours
- Other products include business savings, CDs, lending products, credit cards, merchant services, and collection services
Special offer | Up to $500 cash back when you open a new account and meet requirements |
Required opening deposit | None |
Required balance minimum | None |
Transaction limit before fees |
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Monthly fee | $15; waivable if conditions are met |
Domestic wire transfer fees |
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International wire transfer fees |
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ATM fees | $3 at non-Chase ATMs, plus ATM operator fees |
Cash deposited | $5,000 per month free, then $2.50 per $1,000 |
APY | None |
Chase Bank Member FDIC | |
When to choose Chase
- You want a full-service traditional bank offering a wide range of products: Chase provides everything from business checking, loans, to merchant services, making it our overall best bank for startups.
- You prefer the convenience of both in-person and online banking: With nationwide branches and a strong digital platform, Chase is ideal for banking for startups needing flexibility.
- You are looking for scalable business checking accounts: Chase’s three checking options with waivable monthly fees make it one of the best startup banks for growing companies. This is why it is considered one of the best small business checking accounts on the market.
When to choose an alternative
- You need an interest-earning business checking account: Chase’s business checking accounts are non-interest-bearing. Consider Bluevine, which offers accounts with high APYs if you meet the qualifying activity requirements.
Bluevine: Best for earning interest on smaller balances & best business line of credit
This online-only banking solution provides a high interest rate for smaller balances, plus top-rated small business credit lines.
What We Like
- Three checking options with competitive interest
- Integrates with QuickBooks
- Unlimited 1.5% cash back business Mastercard
Drawbacks
- No savings, money market, and certificate of deposit (CD) accounts
- No physical branch locations
- Fee for depositing cash
Features
- No monthly maintenance fee
- No minimum balance requirement
- Reduced standard payment fees for Bluevine Plus and Bluevine Premier checking
- Free debit card (with up to 4 free additional debit cards for authorized users) and two free checkbook orders per year
- Integrates with QuickBooks and Xero
- Connects with business payment solutions, including Wise, Venmo, and Expensify
- Has live customer support from dedicated professionals
- Offers line of credit & credit card product
- Automatic transfers with sub-accounts
When to choose Bluevine
- You want to earn interest on your business checking account with few requirements: Bluevine Standard Checking offers 1.5% APY on balances up to $250,000 if you spend $500 a month with the debit card or credit card, or receive $2,500 in customer payments in a month. This is why we rank it among the best banks for startup business accounts.
- You need access to a flexible small business line of credit: Bluevine’s funding options make it an excellent business bank for startups needing quick capital. It leads our roundup of the best small business lines of credit.
- You prefer an online-only banking experience: As one of the best digital banks for startups, Bluevine ensures full online banking convenience.
When to choose an alternative
- You regularly deposit cash: While Bluevine allows users to deposit cash at Green Dot locations and Allpoint+ ATMs, fees can add up for frequent cash deposits. For frequent cash handling, a traditional bank like Chase with extensive branch networks and a $5,000 free monthly cash deposit allowance is a better fit.
Relay: Best for businesses looking for a simple way to track finances
This digital banking platform offers startups intuitive cash flow tracking, categorized spending, and multiple debit cards for team use.
What We Like
- No account fees
- Auto categorization for spending
- FDIC insurance up to $3 million
Drawbacks
- No physical locations
- No options for lending
- Checking does not earn interest
Features
- No monthly maintenance fee
- Free overdrafts
- Up to 20 free checking accounts
- 24/7 customer support
- Free wires and 50 same-day ACH transfers via Relay Pro
- Compatible with PayPal, Venmo, Square and Stripe
- Integration with QuickBooks Online and Xero
- Free ATM withdrawals using the Allpoint ATM network
- Physical and virtual debit cards
 | |
|---|---|
Required Opening Deposit | $0 |
Required Minimum Balance | $0 |
Monthly Maintenance Fee | $0 |
Transaction Limit Before Fees | Unlimited |
Domestic Wire Transfer Fees | Outgoing: $5 Incoming: $0 |
International Wire Transfer Fees | Incoming: $10 Outgoing: $0 |
ATM Fees | No fee at Allpoint ATMs |
Cash Deposited | $0 through Allpoint ATMs and $4.95 at Green Dot locations |
APY | N/A |
Customer Service | Available via chat in the mobile app and website or By calling 1-888-205-9304 M-F 9 am-8 pm EST |
Other Products | Relay Pro, savings accounts, Automated Clearing House (ACH), domestic and international wires |
When to choose Relay
- You want a simple way to track finances: Relay online banking allows you to keep track of income and expenses using customized online tools. The capture feature records store receipts and automatically assigns card purchases to the correct expense categories. Income data is also available by displaying deposit information and making it easily accessible using the comprehensive dashboard.
- You need access to a large quantity of debit cards for team members: Relay gives you access to 50 physical or virtual debit cards you can assign to team members. You can also assign spending limits and track expenses from their purchases.
- You want seamless integration with accounting software: Relay connects directly to QuickBooks Online and Xero, allowing transactions to flow automatically into your accounting platform. If you upgrade to Relay Pro, you can also reconcile paid bills with one click, streamlining your bookkeeping process.
When to choose an alternative
- You need both checking and lending options: Relay does not offer loans or lines of credit. For full-service banking with scalable checking and financing products, consider Chase.
Mercury: Best digital bank for larger-scale incorporated startups
A fee-free, all-digital banking provider built for incorporated startups, offering expanded FDIC insurance and treasury services.
What We Like
- No monthly maintenance fees
- Physical and virtual debit cards
- Treasury product offers outstanding yield on balances over $500,000 Mercury Treasury, by Mercury Advisory, LLC, an SEC-registered investment advisor. Registration with the SEC does not imply a certain level of skill or training. SEC registration does not mean the SEC has approved of the services of the investment adviser.
Drawbacks
- Accounts unavailable to sole proprietorships and trusts
- Physical checkbooks unavailable
- Limited lending options and no cash deposits
Features
- Earn interest with Mercury Treasury Mercury Treasury, by Mercury Advisory, LLC, an SEC-registered investment advisor. Registration with the SEC does not imply a certain level of skill or training. SEC registration does not mean the SEC has approved of the services of the investment adviser. product if you have more than $500,000
- Set customer user permissions for your team members
- Create auto-transfer rules for your accounts
- Integrate accounts with QuickBooks and Xero accounting software
- Virtual debit cards available right away with physical cards mailed within a few days
- Business payment integrations with Shopify, Stripe, Amazon, and PayPal
- Up to $5 million FDIC insurance via partner banks and sweep networks
- Email customer service available
- Savings account provided when you open checking account
- Other products include capital and venture debt, and credit card
Special offer | $300 cash back when you deposit $10,000 within 90 days of account opening |
Required opening deposit | None |
Required balance minimum | None |
Transaction limit before fees | Unlimited |
Monthly fee | None |
Domestic wire transfer fees | None |
International wire transfer fees | None as long as it is sent through Mercury’s structure |
ATM fees | No charge for out-of-network ATMs, although operator fees apply; free access to the Allpoint ATM network |
Cash deposited | N/A |
APY | None |
When to choose Mercury
- You seek a fee-free business account: Mercury is a fintech banking product designed for startups and tech companies. Its checking and savings accounts are free, with no minimum deposit or balance requirements.
- You are a tech-savvy or incorporated startup: Mercury is an ideal choice for digital-first businesses needing modern and flexible banking solutions for startups. Its no-branch model caters perfectly to tech-driven founders seeking the best bank for startups without the overhead of traditional banking.
- You seek higher FDIC insurance: The biggest perk of Mercury is its Vault product. Mercury will use partner banks and a sweep network to extend your FDIC insuranceⓘ to up to $5 million. This secures Mercury’s spot among the best startup banks for larger reserves.
When to choose an alternative
- You need cash deposit services or broader lending options: Mercury does not support cash deposits and only offers limited credit products. If you need a full-service bank with a wide range of business loans and financing options, consider Chase.
Found: Best digital-only provider for self-employed startups
An all-in-one banking and bookkeeping platform ideal for freelancers and solopreneurs needing invoicing, tax tracking, and expense management.
What We Like
- No required monthly fees, minimum balances, account fees, and sign-up fees
- Excellent expense tracking on both its desktop and mobile apps
- Helps you track tax write-offs and gives you real-time tax estimates
Drawbacks
- No lending products
- Interest earning only through paid-tier Found Plus
- Cannot purchase checks or issue them from the app
Features
- Provides a business debit Mastercard, which allows you to track expenses and receive purchase alerts
- Debit cards can be frozen in the Found app
- Desktop and mobile apps
- Connect to accounting software and payment apps, such as Cash App, PayPal, Square, Venmo, and Stripe
- Integrated bookkeeping allows you to categorize expenses, customize invoices, capture receipts, and set custom rules
- Track tax write-offs in the app
- View your tax estimate update in real-time
- Pay your taxes directly from the app (Schedule C filers only)
- Send your Schedule C directly from the app
- Allows cash deposits at over 80,000 retail locations
- Customer service via email, online form, and support guides on the website
Special offer | Free 30-day trial to upgrade from Found Business Checking to Found Plus |
Required opening deposit | None |
Required balance minimum | None |
Transaction limit before fees | Unlimited |
Monthly fee |
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Domestic wire transfer fees | Free incoming wires; outgoing wires only sent to Found customers |
International wire transfer fees | Unavailable |
ATM fees | Found doesn’t charge for ATM usage; third-party ATM fees will likely apply |
Cash deposited | Accepted at over 77,000 retail locations; $2 fee per cash deposit |
APY |
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When to choose Found
- You are a freelancer or self-employed startup owner seeking all-in-one banking: Found is an excellent choice for single-owner businesses, offering integrated bookkeeping, detailed expense tracking, and robust tax preparation tools, all within a free digital banking platform. This makes it among the best banks for startups that are self-employed.
- You send frequent invoices and want payment tracking: Found’s integrated accounting software helps you categorize expenses, capture receipts, and set custom rules. You also get unlimited free invoicing that can be customized with your company’s logo and colors. Additionally, invoice payments can be accepted through payment apps.
- You prefer a free plan with upgrade options: Found is a top pick for those wanting flexible startup business banking without high costs.
When to choose an alternative
- You want to earn interest without paying for a premium account: Found requires a paid subscription to access APY earnings. If you prefer free checking with the opportunity to earn 1.5% interest on balances up to $250,000 while meeting qualifying activities, consider Bluevine’s Standard Checking.
NOTE: Found is a financial technology company, not a bank. Banking services are provided by Piermont Bank, Member FDIC. The Found Mastercard debit card is issued by Piermont Bank pursuant to a license from Mastercard Inc.
Found’s core features are free. Found also offers an optional paid product, Found Plus, for $19.99 / month or $149.99 / year. Advanced, optional add-on bookkeeping software is available with a Found Plus subscription. There are no monthly account maintenance fees, but transactional fees for wires, instant transfers, and ATM apply. Read more at https://found.com/legal/fee_schedule
Novo: Best digital-only bank for rapid access to funds & faster payments
Fast-growing fintech offering Stripe Boost, Express ACH, ATM fee reimbursements, and merchant cash advances for startups needing quick capital access.
What We Like
- Monthly refunds up to $7 in ATM fees
- No maintenance fees
- Novo Boost and Express ACH allow faster access to your funds
Drawbacks
- Unable to deposit cash directly
- Lack of savings accounts
- Noninterest drawing account
Features
- Integrates with other business tools, such as QuickBooks, Xero, Stripe, Square, PayPal, Wise, and Shopify
- Set aside funds for taxes and other large business expenses with Novo Reserves
- Deposit checks directly through the mobile app
- Online banking includes unlimited invoicing and bill pay
- Novo Boost in coordination with Stripe allows you to access funds faster
- Express ACH lets you accept or receive same-day ACH payments
- Quick financing option, merchant cash advance up to $75,000
- Virtual debit card available immediately, one free physical debit card per user
- Paper checks can be sent straight from the app
- Live customer support from dedicated professionals
Special offer | None |
Required opening deposit | None |
Required balance minimum | None |
Transaction limit before fees | Unlimited |
Monthly fee | None |
Domestic wire transfer fees |
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International wire transfer fees |
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ATM fees | None; refunds third-party ATM surcharges up to $7 monthly |
Cash deposited | N/A; money orders can be purchased and deposited through the app |
APY | None |
When to choose Novo
- You use Stripe and want quick access to earnings: Novo Boost gives Stripe users faster payouts, which is key for the best business banks for startups focused on cash flow.
- You frequently need ATM withdrawals: Novo’s unlimited ATM fee refunds make it one of the best banks for a startup business when flexibility matters.
- You need fast ACH transfers: With Express ACH, Novo enables same-day transactions, boosting its reputation as a top startup bank for speed.
When to choose an alternative
- You need access to a wider range of business financing options: Novo only offers merchant cash advances (MCAs) and does not provide traditional loans or lines of credit. For more comprehensive lending solutions, consider U.S. Bank, which offers a full suite of small business loans and financing programs.
Lili: Best for startups needing digital tax preparation assistance
Digital banking with built-in tax tools, automatic Schedule C generation, and easy receipt tracking for self-employed startup founders.
What We Like
- No monthly fees for basic tier
- 3.00% APY on savings accounts
- Paid plans provide tax preparation assistance and bookkeeping tools
Drawbacks
- No physical locations
- Some of the best features are in higher-tier accounts
- Outgoing wire transfers are $15
Features
- Free Visa business debit card The Lili Visa® Debit Cards is issued by Sunrise Banks N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc..
- Mobile banking
- Unlimited invoice creation (Lili Smart and Lili Premium)
- Prefilled tax forms (Lili Smart and Lili Premium)
- Bookkeeping solutions (Lili Pro, Lili Smart, and Lili Premium)
- Two days early payment via direct deposit
- Integrations with QuickBooks, Venmo, PayPal, and CashApp, among others
- Toll-free phone support Monday through Friday, 9 a.m. to 7 p.m. Eastern time, and by email
- Lili Pro available for $9 per month
Required opening deposit | None |
Required balance minimum | None |
Transaction limit before fees | Unlimited |
Monthly fee |
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Domestic wire transfer fees |
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International wire transfer fees |
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ATM fees | None at 38,000 MoneyPass ATMs (third-party ATM fees may apply); $2.50 for out-of-network |
Cash deposited | $4.95 fee per transaction, available through Green Dot retail locations |
APY | None |
When to choose Lili
- You want tax assistance: Another outstanding choice for startups and freelancers is Lili, thanks to a great business checking product and outstanding tax preparation software built into the app. It automatically generates a prefilled Schedule C form, which simplifies tax filing by saving time, reducing errors, and helping ensure accurate reporting to the IRS. This feature is available to Lili Smart and Premium customers.
- You need unlimited invoicing directly in your banking app: Available under a Lili Smart or Lili Premium plan, its invoicing features rival those of the best business banks for startups.
- You prefer mobile-first accounting features: Lili is ideal for solo founders looking for the best bank for startup business accounting solutions. This is also available under a Lili Smart or Lili Premium plan.
Startups can start with Lili Basic, a fee-free account with no monthly fee, opening deposit, or required minimum balance. You can upgrade to Lili’s paid plans (Lili Pro, Lili Smart, and Lili Premium) to access excellent features, such as tracking potential tax write-offs, using a tax bucket to set aside funds, scanning receipts, completing tax forms, and producing quarterly and annual expense reports.
Found has a slight edge over Lili due to the more robust features available in the free version of the app. Read our comparison of Lili vs Found business checking to learn more.
When to choose an alternative
- You need fee-free wire transfers: Lili charges $15 for each outgoing wire transfer. If you want free domestic and international wire transfers, consider Mercury, which offers this service at no additional cost.
Grasshopper: Best for earning interest on larger checking balances
High-yield business checking earning up to 1.80% APY uncapped, cashback rewards, and strong bookkeeping integrations for startups maintaining larger reserves.
What We Like
- Cash back on debit card purchases
- Interest-bearing account
- No monthly fees or transaction fees
Drawbacks
- No physical locations
- Minimum deposit required to open
- Cash deposits not accepted
Features
- Free physical and virtual Visa® rewards debit cards
- Unlimited 1% cash back on online and signature-based purchases
- Free bill pay, check deposit services, and digital invoicing tools
- Free domestic ACH and wire transfers when a balance greater than or equal to $25,000 is maintained
- International US dollars (USD) and foreign exchange (FX) wire transfers also available
- Autobooks, QuickBooks, and Plaid integrations with additional financial data management tools available
- Access to multimillion-dollar FDIC insurance up to $125 million
- Earn up to 3.30% APY on balances over $25,000 when you open an Innovator Money Market Savings account
- Personalized support from a US-based Client Services team available by phone, email, chat, and secure message
- Other products include savings accounts, startup banking services, treasury management, CRE loans, and SBA loans
Special offer | N/A |
Opening deposit requirement | $100 |
Monthly maintenance fees | None |
APY |
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ATM fees | None at 45,000 MoneyPass & SUM network ATMs |
ACH fees | None |
Transaction limit before fees | Unlimited |
Domestic wire transfer fees |
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International wire transfer fees |
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Cash deposit fees | N/A |
Other Standout Features |
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Grasshopper Bank Member FDIC | |
When to choose Grasshopper
- You seek an all-digital banking experience with excellent savings rates: Grasshopper is a digital-only bank that supports banking for startups. It offers Accelerator Checking, an account that earns up to 1.80% APY uncapped with no minimum balance requirementⓘ and a monthly fee. If you open an Accelerator Money Market Savings Accountⓘ, you get an APY of 3.55%.
- You want high APY with no cap: Earning up to 1.80% APY makes Grasshopper a leader among the best banks for startups seeking growth.
- You prefer cashback rewards and great integrations: Grasshopper integrates well with QuickBooks and Autobooksⓘ, and offers unlimited 1% cash back rewards on online and in-store debit card purchases.
When to choose an alternative
- You need to deposit cash regularly: Grasshopper does not accept cash deposits. If your business handles cash frequently, consider Chase, which offers a $5,000 monthly cash deposit allowance with its business checking accounts.
U.S. Bank: Best for free business checking with a traditional bank
Traditional banking convenience offering no-fee business checking accounts, bonus offers for new customers, and wide branch access.
What We Like
- No monthly maintenance fee for the Business Essentials Checking
- Up to $900 welcome bonus
- Discounted first check order
Drawbacks
- Low yield for interest-earning accounts
- Limited free transactions
Features
- Send and receive money through app
- Digital invoicing and payment systems integrated into your online dashboard
- Mobile app to monitor all of your accounts, transfer funds between accounts, and deposit checks online
- Easy integration with overdraft protection or credit card processing services for your business
- Free debit card and a discount on the first check order
- Integrations with QuickBooks and U.S. Bank Payment Processing
- Customer service online, by phone, or in-branch during business hours
- Other products include lending and cash flow products, other checking options, and point-of-sale (POS) services
Special offer |
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Required opening deposit | $100 |
Required balance minimum | None |
Transaction limit before fees |
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Monthly fee |
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Domestic wire transfer fees |
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International wire transfer fees |
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ATM fees | None at U.S. Bank and MoneyPass ATMs |
Cash deposited | 25 cash deposit units? free each month, then 33 cents per $100 |
APY |
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U.S. Bank Member FDIC |
When to choose U.S. Bank
- You want no-fee checking with online and physical branch access: U.S. Bank’s Business Essentials Checking stands out among the best banks for startup business accounts with no monthly maintenance fees. You can also open accounts online or visit a branch for in-person services.
- Your cash deposit needs are minimal: U.S. Bank’s free transaction limits make it a good fit for startups, offering up to 25 free cash deposit unitsⓘ per month.
- You seek a cash bonus for opening an account: U.S. Bank offers attractive promotions, making it one of the best startup banks. You can earn a $500 bonus when you open a Business Essentials Checking Account or a $900 bonus when you open a Platinum Business Checking Account online with promo code Q2AFL25 and complete qualifying activities, subject to certain terms and limitations. Offer valid through June 30, 2025. Member FDIC.
When to choose an alternative
- You need a higher free cash deposit limit: U.S. Bank limits free cash deposits to 25 units per month. For cash-reliant businesses, consider Chase, which allows up to $5,000 in free cash deposits each month with its business checking accounts.
Rho: Best for startups needing spend management and automated banking
Integrated platform combining banking, spend control, and treasury management, built for scaling startups needing automated financial operations.
What We Like
- Has no monthly fee
- Offers fee-free domestic and international SWIFT wires, ACH, and bill pay
- $75 million in FDIC insurance
Drawbacks
- Lacks APY for checking product
- Lacks business debit card
- Lacks direct cash deposits
Features
- Free and unlimited virtual and physical corporate cards for employees
- Customizable account permissions
- Integration with Oracle NetSuite, QuickBooks, Sage Intacct, Microsoft Dynamics 365 Business Central, Campfire, and Puzzle
- Streamlined accounts payable
- Cost-saving global payments
- FX transfers at a flat 1% for 32 currencies
- Discounts on business software, such as Google Cloud, QuickBooks, Slack, and Stripe
- Business account open to all US-incorporated businesses, except sole proprietors
- High-yield Treasury account
- Daily customer service through chat and phone support
Required opening deposit | None |
|---|---|
Required balance minimum | None |
Transaction limit before fees | Unlimited |
ACH fees | $0 |
Monthly fees | None |
Domestic wire transfer fees | None |
International wire transfer fees | Varies |
ATM fees | Not supported |
Cash deposited | Not supported |
APY | None |
When to choose Rho
- You need integrated banking, corporate cards, and treasury services: Rho is one of the top choices for startups that need more than just a traditional checking account. It offers a full treasury management system with corporate cards, no-fee business banking, high payment limits, and built-in spend control tools.
- You want free domestic wires, ACH transfers, and automated bill pay: Rho’s no-fee transfers and automation features put it among the best business banks for startups, streamlining operations.
- You seek a spend management solution: Rho’s visibility into expenses cements its reputation as a top choice for banking for startups needing real-time financial control. You can set up expense management rules to prevent unauthorized spending.
When to choose an alternative
- You need personal banking alongside business services: Rho focuses exclusively on business banking and treasury management. U.S. Bank is a strong alternative for startups seeking personal and business accounts under one provider.
How we evaluated the best banks for startups
To find the best banks for startups, I focused on the financial realities of early-stage businesses that need flexible, affordable tools to manage cash, scale operations, and streamline banking. The goal was to highlight startup banking solutions that combine low overhead with growth-friendly features.
Evaluation criteria
Account cost and transparency: Banks were reviewed for low or no monthly fees, ease of fee waivers, and minimal opening deposit requirements. I also compared ACH and wire transfer fees, ATM availability, and cash deposit policies. These factors ensure cost transparency, essential for startups managing tight budgets and looking to keep banking predictable and affordable.
Startup-friendly tools and integrations: Accounts were evaluated for benefits beyond basic checking, such as interest yield potential, business perks, and integration with platforms like QuickBooks, Stripe, and Shopify. These tools help automate financial workflows and streamline operations, especially for tech-driven or e-commerce-focused startups.
Business services and financial growth support: Each bank’s broader offering was also considered, including access to credit cards, startup-friendly lending options, and business support services. These features help position a bank as a long-term partner for growth, not just a place to hold funds.
Ease of use and digital experience: I considered overall usability, including mobile and online banking features. For startups operating lean teams, efficient digital platforms are critical for managing finances without relying on a full-time bookkeeper or finance staff.
All findings were based on publicly available information from official bank websites as of April 2025. Keep in mind that services, fees, and availability may vary based on location and account type, so it’s important to match your choice to your startup’s specific needs.
How to choose a startup business bank
We used specific criteria to select the best banks for startups. However, there are several important factors you should consider before choosing the right banking partner. For a more detailed breakdown, see our full guide on how to choose a small business bank.
1. Understand your startup’s immediate and future needs
Start by considering what you need today and what you’ll need as you grow. Some banks are perfect for basic checking, while others offer scalable solutions like lending, treasury management, or high-yield accounts ideal for scaling startups.
2. Decide between traditional banks and digital banks
Traditional banks like Chase or U.S. Bank offer branch access, in-person service, and broad financial products. Digital banks like Mercury and Bluevine offer faster online setup, lower fees, and better tech integrations. Choose the model that matches your style of doing business.
3. Review checking account features carefully
Look for features like free monthly transactions, free ATM access, no or waivable monthly fees, and interest-earning options. Startups managing lean cash flow especially benefit from accounts with low minimum balances and flexible transaction limits.
4. Evaluate business lending options
Even if you don’t need funding today, choose a bank that offers business credit cards, lines of credit, SBA loans, or working capital products. A banking relationship with lending options can be essential as your startup grows and your needs change.
5. Check cash deposit policies and limits
If your startup handles physical cash, make sure your bank offers a reasonable monthly cash deposit limit without excessive fees. Digital-only banks often lack cash deposit options, while traditional banks may offer allowances like Chase’s $5,000 per month in free cash deposits.
6. Prioritize integrations with your business tools
Startups often rely on platforms like Stripe, PayPal, Shopify, QuickBooks, and Xero. Choose a bank that integrates with your payment processors, accounting software, or invoicing tools to automate finances and simplify reconciliation.
7. Look for fee structures that fit your budget
Startup costs can add up quickly. Aim for banks with low or no monthly maintenance fees, transparent transaction fees, free ACH transfers, and few hidden charges. Fee flexibility matters even more if your business is just getting off the ground.
8. Consider FDIC insurance coverage limits
Most banks offer the standard $250,000 FDIC insurance coverage, but if you plan to hold larger reserves, consider options like Mercury or Relay that offer expanded coverage through sweep networks.
9. Research customer support quality and accessibility
Choose a bank with reliable customer service, which is especially important if you encounter account freezes, transaction issues, or need quick assistance. Look for 24/7 support availability, strong user reviews, and clear dispute resolution policies.
What you need to open a business bank account as a startup
Each provider on this list may require different documents to open a business bank account. Generally, you will need:
- Employer identification number (EIN) or Social Security number if you’re a sole proprietor
- Fictitious business name certificate or DBA certificate
- Business formation documents
- Organization documents, including your ownership agreements
- Business licenses
- Government-issued photo ID, such as a passport or driver’s license
Frequently asked questions (FAQs)
The best traditional bank for startup businesses is Chase, thanks to waivable monthly fees, scalable checking options, and a full range of business support products and services.
While it might be tempting for small businesses, especially startups and freelancers, to use their personal bank accounts for their business expenses, it is not recommended. A business bank account allows you to keep your finances separated, helps you build business credit, and simplifies your business taxes, among other benefits.
Yes, you can get startup business loans from a bank. However, a bank is more likely to give a loan to a startup with an existing business relationship. Opening a business bank account will build your business credit and reputation with the bank, making it more likely to lend you business money.
Look for a bank that matches your startup’s needs today and as you grow. Focus on low fees, easy access (online or branch), strong integrations with accounting and payment tools, and the availability of business credit or lending options. Also, consider cash deposit needs, FDIC insurance limits, and customer support quality to ensure your bank can scale with your business.
Bottom line
The institutions on this list represent the best banks for startups, offering business checking accounts and essential financial services to support your early-stage growth. When choosing the best bank for your startup business, consider what products and services you need from your business bank, and then select a provider that will scale with you. The right partner for banking for startups can make managing cash flow, securing funding, and building your business much easier.