10 Best Free Business Checking Accounts for 2025

Editor’s note: This is a recurring post with regularly updated account details.

The best free business checking accounts for small businesses should either be fee-free or allow easy fee waivers. Some providers offer unlimited free transactions, while others provide a limited number before fees apply. The banks on this list also offer excellent business support products and services, including lending, merchant services, and interest-bearing accounts, along with welcome bonuses for new users.

After reviewing more than 100 business bank providers, here are the 10 best free business checking accounts, with links directly to the providers:

• Bluevine Member Federal Deposit Insurance Corp. (FDIC) : Best overall for digital banking
• U.S. Bank Member Federal Deposit Insurance Corp. (FDIC) : Best traditional bank free business checking
• Novo Provider is a fintech platform backed by and FDIC-insured through a supporting bank partnership with Middlesex Federal Savings. : Best for rapid access to funds
• Mercury Provider is a fintech platform backed by and FDIC-insured through supporting bank partnerships with Choice Financial Group and Evolve Bank & Trust : Best for tech companies and startups
• North One Provider is a fintech platform backed and FDIC-insured by a supporting bank partnership with Thread Bank. : Best for high-yield checking and budgeting
• Chase Member FDIC : Best premium business checking account with waivable fees
• Found Provider is a fintech platform backed by and FDIC-insured through a supporting bank partnership with Piermont Bank. : Best for self-employed professionals and freelancers
• Grasshopper: Member FDIC Best online bank with free payment software
• Truist Bank Member Federal Deposit Insurance Corp. (FDIC) : Best for low monthly transactions
• Lili Provider is a financial technology (fintech) platform backed by and FDIC-insured by a supporting bank partnership with Sunrise Banks, N.A. : Best for early payouts

Best free business checking accounts at a glance

Bluevine: Best overall for digital banking

When to choose Bluevine

• You want a fee-free online business checking account with international payment support: Bluevine Standard is our best online-only small business free checking account with no monthly fees. It only charges for outgoing wires, non-network ATM withdrawals, and cash deposits. Higher-tier plans can reduce certain banking service fees by up to 50%. In addition, it’s our overall best bank for international business, allowing payments to 32 countries in 15 currencies.
• You seek to earn interest on your business checking account: Bluevine’s Standard business checking offers 1.5% APY on balances up to $250,000. To earn interest, you must spend at least $500 monthly with your debit or credit card or receive $2,500 per month in customer payments through ACH, wire transfer, mobile check deposit, or direct merchant payments.
• You need access to a small business line of credit or a credit card: Bluevine offers the best small business line of credit on the market. Well-qualified borrowers can get a credit line of up to $250,000 in as little as five minutes. The provider also offers a credit card, which is why it is also one of our leading banks for small business loans.

For more details on business checking features, see our Bluevine business checking review.

When to choose an alternative

• You want free cash deposits: Bluevine doesn’t offer free cash deposits, which may make it less ideal if you frequently deposit cash. Deposits are available at Green Dot retail locations for $4.95 or Allpoint+ ATMs for $1 plus 0.5% of the deposit amount. In contrast, many traditional banks, like U.S. Bank, offer a free cash deposit allowance monthly.

U.S. Bank: Best traditional bank free business checking

When to choose U.S. Bank

• Your business is looking for a free checking account with a traditional bank: U.S. Bank stands out among many traditional banks, which often have monthly fee waiver conditions. Its Silver Business Checking has no monthly fees, 125 free monthly transactions, and up to 25 free deposit units? in cash deposits monthly.
• You want a great sign-up bonus: You can earn a $500 bonus with a Silver Business Checking account or $900 with a Platinum Business Checking account by opening online with promo code Q1AFL25 and completing qualifying activities, subject to certain terms and limitations. Offer valid through March 31, 2025. Member FDIC. See our article on the best bank account promos and offers for details on how to qualify.
• You need other great business products and services: U.S. Bank also offers full-service business banking products, including SBA loans, business lines of credit, cash management, payroll services, and payment services. Its products can scale as your business grows.

When to choose an alternative

• You require branch access outside of U.S. Bank’s operational footprint: U.S. Bank offers business accounts nationwide but has branches in only 27 states. If you need branch access and are outside those states, consider Chase, which has branches in all 48 states in the continental US.

Novo: Best for rapid access to funds

When to choose Novo

• You seek faster access to your funds: If your business uses Stripe for payments, Novo is an excellent choice. With Novo Boost, you can receive Stripe payments faster than other providers. You can also connect to Stripe and get paid via card, Apple Pay, Google Pay, PayPal, or Venmo for even quicker transactions. This is why Novo is in our roundup of the best online business banks. 
• You want to send same-day ACH payments: Novo offers Express ACH, allowing you to send and receive same-day ACH payments. With Novo Boost and Express ACH, you can access your money faster than with other digital-only providers.
• You need mostly fee-free business banking with some refunded ATM fees: Novo’s business checking account has no monthly fee, transaction limits, minimum opening deposit, or balance requirements. It also eliminates non-sufficient funds (NSF) fees and refunds up to $7 in ATM fees monthly.

Check out our Novo business checking review to learn more about its terms and features.

When to choose an alternative

• You want interest-bearing checking: One of the few features missing from Novo is an interest-bearing checking account. If you want your online business bank account to earn interest, you can choose Bluevine, Grasshopper, or North One.

Mercury: Best for tech companies and startups

When to choose Mercury

• Startups and tech companies with large balances needing more FDIC insurance: Mercury is ideal for tech companies and startups, offering up to $5 million in FDIC coverage through its Vault service, which uses partner banks and a sweep network. Mercury’s expanded FDIC protection is one of the reasons it’s included in our best crypto-friendly business bank accounts.
• Companies with large balances looking to earn interest on reserve funds: Mercury offers a Treasury account for businesses with $500,000 or more in their accounts. This account earns up to 4.50% APY, with rates updated weekly.
• You need unlimited bill payments and invoicing features: Mercury offers unlimited bill payments and invoicing features for free. As your business grows, you can upgrade to Mercury Plus or Mercury Pro for advanced services like branded invoicing and additional users for reimbursements.

When to choose an alternative

• You run a trust or sole proprietorship: Most businesses incorporated in the US are eligible for an account, except sole proprietorships and trusts. Trusts should open an account with a traditional bank like U.S. Bank or Chase, while sole proprietors should consider using Found.

North One: Best for high-yield checking and budgeting

When to choose North One Standard

• You want to earn high interest: The North One Standard business checking account is one of our best banks for business checking with no fees, offering a 2.50% APY with unlimited transactions.
• You need a budgeting system to dedicate funds for all business expenses: North One offers a free budgeting tool called Envelopes, letting small business owners separate funds for different expenses and set rules for daily, weekly, or monthly allocations. Unlimited envelopes are available per expense category.
• You seek multiple business software integrations: North One integrates with a wide range of accounting, invoicing, payroll, and productivity tools, including QuickBooks, Wave, FreshBooks, Expensify, Etsy, Venmo, and more. Small businesses can also access discounts and free trials for popular software. See North One’s Perks page.

When to choose an alternative

• You require in-person banking services: Since North One provides digital-only banking services through its partner, The Bancorp Bank, N.A., you can opt to open an account at a traditional bank like Chase if you need to bank in person.

Chase: Best premium business checking account with waivable fees

When to choose Chase

• You want three great checking options with waivable fees: Aside from its basic business checking, Chase offers Performance and Platinum Business Checking accounts, which have higher fees but provide more features. Read our comparison of Chase business checking accounts to see which fits your business needs. For a detailed look at its premium account, check out our Chase Platinum Business Checking review.
• You seek an outstanding full-service business bank: Chase is on our list of the best small business checking accounts because of its excellent full-service banking offerings. With three business checking options, savings accounts, credit cards, lines of credit, and point-of-sale (POS) software solutions, Chase can scale with your business. You can also earn a signup bonus of up to $500 by opening a new account and completing qualifying actions.
• You need many in-network ATMs and branch locations: With over 4,700 branch locations in 48 states and more than 16,000 ATMs, physical access to your Chase account is available nearly everywhere. Chase announced 500 new locations and 1,700 revamped locations over the next three years.

Read our Chase Business Complete Banking review to learn more about its pricing and pros and cons.

When to choose an alternative

• You want a truly free business checking account: While Chase offers business accounts with waivable monthly fees, you must meet certain requirements to waive them. U.S. Bank and fintechs like Bluevine provide business checking accounts with no monthly fees.

Found: Best for self-employed professionals and freelancers

When to choose Found

• Self-employed and freelance business owners seeking detailed expense tracking: Found offers integrated bookkeeping software to categorize expenses, capture receipts, and set custom rules. It includes unlimited free invoicing, customizable with your company’s logo and colors, and allows invoice payments through payment apps.
• Sole proprietors wanting tax preparation assistance: Found offers robust tax tracking and preparation software, enabling you to complete and send your Schedule C and pay your tax bill directly from the app.
• You need to withdraw and deposit cash and deposit checks regularly: Found doesn’t charge for ATM withdrawals, though out-of-network ATMs may have third-party fees. You can make cash deposits at over 80,000 retail locations for a fee Found charges a fee of $2 per cash deposit. and deposit checks once your account is approved.

When to choose an alternative

• You want to earn interest on a starter business checking: Found Plus, a higher-tier checking product, offers 1.5% APY on balances up to $20,000. It costs $19.99 monthly or $149.99 yearly. For interest-bearing standard checking with no monthly fee, consider Bluevine or North One.

Grasshopper: Best online bank with free payment software

When to choose Grasshopper

• You seek online banking that includes payment software and great integrations: One of Grasshopper’s biggest perks is providing payment software Autobooks for free with each new account. Grasshopper also has a great QuickBooks integration built in.
• You need excellent interest-bearing checking: Grasshopper offers tiered interest rates on its business checking accounts, with up to 1.8% APY. To qualify, customers must maintain a minimum average balance of $10,000 and have no NSF items in the past 12 months.
• You want cash back earnings on debit card purchases: Grasshopper is among our best banks for business checking with no fees, providing a debit card that earns 1% cash back on all online and in-store debit card purchases.

When to choose an alternative

• You need to deposit cash: Grasshopper does not permit cash deposits. If you need to deposit cash, online fintechs like Bluevine and North One are good options, though fees may apply. Alternatively, traditional banks like U.S. Bank or Chase offer monthly cash deposit allowances.

Truist Bank: Best for low monthly transactions

When to choose Truist Bank

• You have low monthly transactions and cash deposit needs: The Simple Business Checking account offers 50 free transactions Transactions include deposits and deposited items, checks, ATM transactions, point-of-sale purchases, and ACH debits. Wire transfer services and commercial and treasury management services may also be included. , $2,000 cash deposit allowance, and no monthly fees.
• You own a nonprofit company: Truist is our top bank for our best banks for nonprofits as it offers a checking account for nonprofit organizations (Community Business Checking) with no monthly fee and unlimited free cash deposits.
• You want to benefit from cash back rewards: Using your debit card for purchases lets you access Truist Deals, a free program that provides cash back earnings from participating merchants.

When to choose an alternative

• You want a higher cash deposit allowance: Truist Bank’s Simple Business Checking offers a free cash deposit limit of $2,000 monthly. If you need a higher allowance, consider Chase, where you can deposit up to $5,000 each month free of charge.

Lili: Best for early payouts

When to choose Lili

• You want to receive client payments early: Lili lets you get paid up to two days early through direct deposit, allowing quick access to your funds.
• You need to track your expenses better: Lili offers a built-in tracking tool that categorizes your expenses automatically, which helps you organize your finances.
• You seek scalable accounts: As your business grows, you can upgrade to advanced features through Lili’s paid plans. It offers expense management tools and reports, AI accounting, and tax preparation solutions.

When to choose an alternative

• You prefer fee-free digital tax preparation tools: To access Lili’s tax preparation tools, you must subscribe to a paid plan. You can opt for Found, which provides tax preparation assistance, unlimited invoicing, and financial reports under a fee-free standard checking account.

Why many online banks offer free checking

Online banks have lower operating costs than traditional banks with physical branches, allowing them to offer fee-free checking accounts. Many also provide interest and unlimited transactions, while others reduce fees on wire transfers and cash deposits and waive some ATM fees.

Traditional banks may charge monthly fees but often waive them with conditions like maintaining a minimum balance or spending a certain amount on a debit card. In contrast, most online banks offer business checking accounts with no monthly fees and no waiver conditions. See our roundup for the best online business banks for more options.

Understanding the fees banks charge for business checking accounts

Banks generally charge various fees for business accounts, and this will depend on the financial institution, account type, and services offered.

Some of the common fees for business checking accounts are:

• Monthly maintenance fees can range from $5 to $75 monthly. Some providers will waive these fees if you meet a minimum balance or satisfy specific bank conditions.
• Transaction fees typically range from 25 cents to 50 cents per item. Business checking accounts from traditional banks will often have a monthly limit and charge for excess fees beyond that.
• Cash deposit fees generally range from 20 to 30 cents per $100 deposited in excess of the cash deposit allowance provided.
• Wire transfer fees can range from $10 to $35 for domestic wires and $15 to $75 for international wires. International wire transfers tend to cost more.
• Nonnetwork ATM fees can be charged from $1 to $3 per domestic transaction and $5 for international transactions, plus third-party operator fees.
• Overdraft fees can range from $30 to $40 per transaction. If your business account is overdrawn, you may incur a fee per transaction exceeding the available balance.

Read our guide on business bank account fees to understand the different banking charges and how to avoid them. Make sure to compare the offerings of different providers to ensure you pick the best fit for your business and steer clear of unnecessary fees.

How I evaluated the best free business checking accounts

To identify the best free business checking accounts for small businesses, I reviewed each bank’s website for accurate details on checking account fee structures and read app reviews to understand users’ experiences. These accounts have no monthly maintenance fee or easy waiver conditions, making them ideal for businesses seeking to minimize banking costs.

My goal is to help business owners make informed decisions when choosing a free business checking account by evaluating various factors, such as

• Monthly fees and waiver conditions
• Opening deposit and minimum balance requirements
• Transaction limits
• ACH and wire transfer fees
• ATM fees and access
• Cash deposit support and fees
• Interest yield
• Checking account perks
• Software integrations
• Business services provided
• Lending products offered
• Customer service and customer reviews

When to upgrade from a free to a paid business checking account

As a business owner, you should consider upgrading from a free business checking plan to a paid plan when

• Your transaction volume is increasing: Avoid the excess transaction fee by seeking an account with higher transaction limits or unlimited transactions.
• You often deposit cash: If you exceed the cash deposit allowance offered by a free checking account, it’s time to open a higher-tier account with a generous or fee-free cash deposit limit.
• You seek higher interest rates or rewards: When you maintain higher balances, some paid business checking accounts offer higher interest rates or waive the monthly fees, which lead to more savings. You can also consider opening savings accounts with substantial interest rates. Check out our lineup for the best business savings accounts.
• You want overdraft protection: Paid accounts can often include the security of overdraft protection to reduce hefty fees when your account balance is low.
• You need to make international transactions: If your business engages in international transactions, a paid account can reduce fees and offer better wire transfer services. See our best banks for international businesses.
• You want additional services or advanced features: As your business grows, you will need to access merchant services, payroll processing, or cash management tools to streamline your operations. These services and features are typically offered by paid accounts.
• You seek better customer support: Upgrade to a paid business checking account to access priority customer support services, which can include dedicated business bankers to assist with specific financial needs. This is often offered exclusively under the highest-tier plans.

Before upgrading, evaluate whether the additional fees of a paid account justify the extra features and services you’ll use, and if they will ultimately save you time and money.

What to consider when choosing the best free business checking account

While we used our criteria to select the best banks for business checking with no fees for this list, here are some things you should consider before making a selection:

1. Understand the fee structure and how it will apply to your business

Some providers in this guide are mostly fee-free, while others have waivable monthly fees and limited free transactions. Before choosing, consider:

• Can you meet the criteria to waive the monthly fee?
• Does the account offer enough free cash deposits or transactions for your business?
• Are the bank’s unique features worth the fee?

While many avoid accounts with waivable fees, it could be worth paying a small monthly fee if a bank offers valuable services. For example, the extensive range of products and services offered by Chase may justify the monthly fee, helping your business grow.

2. Consider the need for a bank with physical locations

Most traditional banks offer accounts with waivable monthly fees, with U.S. Bank being the only exception in this guide with no monthly fee. If you regularly need in-person support, choose a bank with a branch close to your business.

3. Read customer reviews

Each bank review we create includes customer feedback to give you insight into the bank’s customer service and potential issues. Keep in mind, though, that reviews may cover both business and personal accounts, so not all feedback may apply to your business account.

4. Verify ATM network and fees

Check for free ATM access within the bank’s network. Assess whether fees for out-of-network withdrawals are reasonable. Some accounts offer fee reimbursements for out-of-network use.

What you need to open a small business checking account

Though each provider on this list may require different documents to open a business bank account, here is a general list of what you will need:

• Employer identification number (EIN) or Social Security number if you’re a sole proprietor
• Fictitious business name certificate or doing-business-as (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)

What bank doesn’t charge monthly fees for a business account?

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What banks have free checking with no minimum balance?

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Bottom line

If you want a business checking account with no or easily waivable monthly fees, the providers on this list are great options. Start by identifying your business banking needs, then evaluate whether online-only or traditional banks offer the services and features you need to find the best account for your business.