A side-by-side comparison of business checking accounts based on fees, perks, and digital tools
9 Best Free Business Checking Accounts
This article is part of a larger series on Business Banking.
Editor’s note: This is a recurring post with regularly updated account details.
Choosing the best free checking account for business can have a real impact on how much a small business spends on everyday banking. The accounts featured here do not charge monthly maintenance fees, helping keep costs low without sacrificing useful features. Depending on the provider, those features may include free transactions, digital banking tools, and access to services such as lending, merchant processing, or interest-earning opportunities.
Because fees, features, and account terms vary widely, finding the best free business checking account often comes down to how well an account supports your day-to-day operations. Some options are better suited for businesses that value branch access, while others are designed for owners who prefer to manage their finances entirely online. To help narrow the field, I reviewed a wide range of business checking accounts and identified nine options that offer strong overall value for small businesses, startups, and growing companies.
Best for | APY | |
|---|---|---|
Small businesses that want a truly free business checking account from a traditional bank | N/A | |
Bluevine
Bluevine is a financial technology company, not a bank. Bluevine deposits are FDIC-insured through Coastal Community Bank, Member FDIC.
| Earning interest on a free business checking account | 1.3% APY on a Standard plan or 3.20% APY with an upgraded plan once qualifications are met |
Relay
Relay is a financial technology company and is not an FDIC-insured bank. Banking services provided by Thread Bank, Member FDIC.
| Businesses that need multiple checking accounts at no cost | 1.11% - 3.00% APY on linked savings accounts |
North One
North One is a financial technology company, not a bank. Banking services for the deposit account provided by The Bancorp Bank, N.A., Member FDIC.
| Digital-first small businesses that want strong cash management tools | N/A |
Brick-and-mortar businesses that want a free checking option with branch access | N/A | |
Mercury
Mercury is a fintech company, not an FDIC-insured bank. Banking services provided through Choice Financial Group and Column N.A., Members FDIC.
| Startups and tech-focused businesses that want a free, modern banking platform | N/A |
Funded startups seeking growth-focused digital banking | 1.0% to 1.3% | |
Lili
Lili is a financial technology company, not a bank. Banking services are provided by Sunrise Banks, N.A., Member FDIC.
| Real-time expense monitoring and automatic transaction categorization with built-in tax tools | N/A |
Novo
Novo Platform Inc. (“Novo”) is a fintech, not a bank. Banking services provided by Middlesex Federal Savings, F.A., Member FDIC.
| Simple, no-frills free business checking for small business owners | N/A |
To build this list of the best free business checking accounts, I evaluated a wide range of accounts from traditional banks, online banks, and financial technology companies. My goal was to identify options that help small businesses minimize banking costs while still providing the features and services needed to manage daily operations effectively.
Each account was evaluated using consistent criteria that reflect how business owners compare banking products in real-world situations, including the following categories:
Fees and overall value: I reviewed monthly maintenance fees, transaction fees, cash deposit costs, overdraft policies, and other common banking charges. I also considered the overall value each account delivers relative to its cost.
Account features: I evaluated core checking account features such as transaction limits, cash deposit availability, ATM access, mobile banking tools, bill pay capabilities, and additional services like lending, merchant services, or interest-earning opportunities.
Accessibility and convenience: I considered branch availability, ATM networks, mobile app functionality, online banking capabilities, and how easily business owners can access and manage their accounts.
Integrations and business tools: I reviewed integrations with accounting software, payment platforms, payroll providers, and other business tools that help streamline financial management.
Customer support: I examined available support channels, service availability, educational resources, and the overall accessibility of customer assistance.
Customer reviews and reputation: To validate real-world performance, I incorporated customer feedback, industry research, and each provider’s reputation within the small business banking market.
Whenever possible, I reviewed account disclosures, fee schedules, product documentation, and provider websites directly to verify account features, pricing, and eligibility requirements.
I am committed to delivering expertise-led answers to your small business questions by using my first-hand experience and testing platforms or services when able.
I ensure that the best answers I provide are founded on accuracy, clarity, authority, objectivity, and accessibility. Those are aligned with the Fit Small Business Editorial Policy.
Senior Staff Writer - Finance at Fit Small Business
Quick comparison of the best free business checking accounts
My rating (out of 5) | New account opening bonus | Monthly fee | Free monthly cash deposit limit | |
|---|---|---|---|---|
nbkc Business Account | 4.53 | None | None | Unlimited |
Bluevine Standard Business Checking | 4.34 | $500 with a Bluevine Business Checking, use referral code FSM500, and meet eligibility requirements | None | $1 per deposit, plus 0.5% of deposit amount via Allpoint+ ATMs; $4.95 fee per transaction via Green Dot retail locations |
Relay Starter Account | 4.27 | None | None | $0 through Allpoint+ ATMs and $4.95 per deposit at Green Dot retail locations |
North One Standard | 4.26 | None | None | One free cash deposit per month at Green Dot locations; then fees apply, up to $4.95 per deposit |
U.S. Bank Business Essentials Checking | 4.25 | Earn $400 when you open a new account with code Q2AFL26 and complete qualifying activities | $0 monthly maintenance fee | 25 per month, then 50 cents per transaction |
Mercury Business Checking | 4.24 | Earn $300 when you open an account and meet qualifying activities | None | Cash deposits not accepted |
Grasshopper Accelerator Account | 4.20 | Up to $200 per referral | $0 | Cash deposits not accepted/div> |
Lili Basic Checking | 4.15 | N/A | None | Available at Green Dot locations for $4.95 per deposit |
Novo Business Checking | 3.91 | Earn $300 when you open a business checking and meet qualifying transactions | None | Cash deposits not accepted |
Each of the accounts below takes a different approach to small business banking, so there’s no one-size-fits-all best free checking account for small business owners. Use the sections below to compare features and find the option that fits how you run your business.
nbkc: Small businesses that want a truly free business checking account from a traditional bank
Overall Score:
4.53 / 5
Pros
- No charge for overdrafts
- $0 for incoming domestic wires
- ATM fee refunds up to $12 monthly
Cons
- Checking account does not earn interest
- Customer service not available 24/7
- Physical branches only in two states
Opening deposit | None |
Monthly maintenance fee | $0 |
APY | N/A |
ATM fees |
|
ACH fees | Available as an add-on service through Business Solutions; $15 monthly or $150 annually |
Transaction limit before fees | Unlimited |
Domestic wires |
|
International wires |
|
Cash deposit fees | 2No charge at MoneyPass or Allpoint ATMs or at a physical branch |
Other standout features |
|
Member FDIC | |
When to choose nbkc
nbkc stands out as a strong option for small businesses wanting a truly free business checking account from a traditional bank. With no monthly maintenance fees, no overdraft charges, and no fee for incoming domestic wires, it keeps everyday banking costs predictable. The added benefit of ATM fee reimbursements and unlimited transactions makes it especially appealing to small businesses seeking a simple, no-frills checking account backed by a full-service bank.
When to choose an alternative
Businesses that prefer a fully digital experience or want to earn interest on their checking balance may want to consider Bluevine instead. Bluevine offers a free business checking account with competitive interest on qualifying balances and robust online tools, making it a better fit for businesses that manage most of their finances online and don’t need branch access.
Bluevine: Best for earning interest on a free business checking account
Overall Score:
4.36 / 5
Pros
- Interest options available on all checking accounts
- No minimum balance requirement
- FDIC protection available up to $3M
Cons
- Earning higher APY has activity requirements
- No in-person banking options
- Advanced features only available with paid plans
Opening deposit | None |
Monthly maintenance fee | None |
APY | 1.3% APY on a Standard plan or 3.25% APY with an upgraded plan once qualifications are met |
ATM fees | None at MoneyPass locations nationally.$2.50 plus operator fees for non-network ATMs |
ACH fees | None for standard; $10 for same-day |
Transaction limit before fees | None |
Domestic wires |
|
International wires |
|
Cash deposit fees | $1 per deposit, plus 0.5% of deposit amount via Allpoint+ ATMs; $4.95 fee per transaction via Green Dot retail locations |
Other standout features |
|
Bluevine is a financial technology company, not a bank. Bluevine deposits are FDIC-insured through Coastal Community Bank, Member FDIC. | |
When to choose Bluevine
Bluevine is a good fit for small businesses that want an interest-earning checking account without adding extra complexity. The Standard Business Checking account includes unlimited transactions and digital-first tools, making it well-suited for businesses that manage finances primarily online. Bluevine is especially useful for owners who keep consistent balances in checking and want a simple way to earn interest without opening a separate savings account.
When to choose an alternative
Bluevine may not be the best fit for businesses that rely heavily on cash deposits or prefer in-person banking support. Since Bluevine is an online-only provider and cash deposits involve extra steps and fees, businesses that handle cash regularly may find U.S. Bank easier, thanks to its branch access and in-person deposit options. It can also be a better fit for businesses that don’t prioritize earning interest on their checking balance.
Relay: Businesses that need multiple checking accounts at no cost
Overall Score:
4.27 / 5
Pros
- Large variety of software integrations
- Up to 50 debit cards per cardholder
- Same-day ACH delivery
Cons
- Lending not available
- No physical branches
- Checking account does not earn APY
Opening deposit | None |
Monthly maintenance fee | None |
APY | N/A |
ATM fees | one at Allpoint ATMs; Relay doesn’t charge out-of-network ATM fees, although third-party fees will apply |
ACH fees | $0, takes 1 to 2 days |
Transaction limit before fees | Unlimited |
Domestic wires |
|
International wires |
|
Cash deposit fees | $0 through Allpoint+ ATMs and $4.95 per deposit at Green Dot retail locations |
Other standout features |
|
Relay is a financial technology company and is not an FDIC-insured bank. Banking services provided by Thread Bank, Member FDIC. | |
When to choose Relay
Relay is a good fit for businesses that want tighter control over how money is spent, especially when multiple people need access to the account. Its ability to issue multiple debit cards, assign spending limits, and connect cards to specific accounts makes it useful for teams that want clear guardrails without complicated budgeting rules. Relay works well for partnerships or growing businesses that want transparency and control over day-to-day spending.
When to choose an alternative
If your primary goal is tracking cash flow rather than managing team spending, North One may be a better fit thanks to its envelope-style budgeting tools. Businesses that want their checking balance to earn interest may prefer Bluevine, which focuses more on yield than spending controls. Companies that need more advanced treasury features or higher FDIC coverage may also want to look at Mercury.
North One: Digital-first small businesses that want strong cash management tools
Overall Score:
4.26 / 5
Pros
- Basic plan has no monthly maintenance fee
- Subaccounts help with money management
- Integrations to accounting software
Cons
- APY earned only after meeting requirements
- International wires not available
- Limited customer service hours
Opening deposit | None |
Monthly maintenance fee | None |
APY | N/A |
ATM fees | North One does not charge for withdrawals at Allpoint ATMs; third-party fees may apply. North One will reimburse up to 2 ATM fees per calendar month. |
ACH fees |
|
Transaction limit before fees | None |
Domestic wires |
|
International wires | Not available |
Cash deposit fees | Deposits accepted at Green Dot locations |
Other standout features |
|
North One is a financial technology company, not a bank. Banking services for the deposit account provided by The Bancorp Bank, N.A., Member FDIC. | |
When to choose North One
North One is a good choice for small businesses that want help organizing cash flow without paying monthly account fees. Its built-in Envelopes allow you to create subaccounts, which make it easy to separate money for expenses like taxes, payroll, and operating costs, which can be especially helpful for owners who prefer visual budgeting tools. North One also works well for businesses that rely on online sales platforms or payment processors and want quick access to incoming funds.
When to choose an alternative
North One may not be the best fit for businesses that prefer separate checking accounts rather than envelope-style budgeting within a single account. If you want distinct checking accounts with individual account numbers and debit cards for different purposes, Relay offers more flexibility. Businesses that prioritize earning interest on their checking balance may also prefer Bluevine, which focuses more on yield than budgeting tools.
U.S. Bank: Brick-and-mortar businesses that want a free checking option with branch access
Overall Score:
4.25 / 5
Pros
- Banking available online or in person
- Integrates with multiple account software programs
- Money management tools available in account dashboard
Cons
- Wire can get expensive
- Free transactions are limited
- Opening deposit required
Opening deposit | $25 |
Monthly maintenance fee | No required monthly maintenance fee |
APY | N/A |
ATM fees | No charge for in-network ATMsFees may apply for out-of-network ATMs, plus third-party fees may apply |
ACH fees | Same-day transfer $3 |
Transaction limit before fees | 25 per month, then 50 cents per transaction |
Domestic wires |
|
International wires |
|
Cash deposit fees | 225 units per statement cycle; then $0.33 per 100 |
Other standout features |
|
Member FDIC | |
When to choose U.S. Bank
U.S. Bank is a good fit for small businesses that want a free checking account at a long-standing traditional bank that offers a full-service banking relationship. It works well for businesses that expect to add services over time, such as credit cards, loans, or merchant processing, and prefer having everything under one bank. U.S. Bank is also a strong choice for businesses that value in-person support, established infrastructure, and the ability to handle more complex banking needs as they grow.
When to choose an alternative
Businesses that want a simpler, digital-only experience without navigating a large bank structure may prefer Bluevine or Relay. If earning interest on checking balances is a priority, Bluevine may offer better value. Businesses that prioritize budgeting tools or cash flow visualization over a traditional banking relationship may find North One easier to manage. Startups or tech-focused companies that want advanced treasury features without branch access may also prefer Mercury.
Mercury: Startups and tech-focused businesses that want a free, modern banking platform
Overall Score:
4.24 / 5
Pros
- No fees for domestic or international wires
- Outstanding yields on balances over $250,000 with Mercury Treasury
- No required monthly maintenance fee on introductory account
Cons
- No paper check writing abilities
- Limited lending options
- No cash deposits
Opening deposit | None |
Monthly maintenance fee | No required monthly maintenance fee |
APY | N/A |
ATM fees | None for out-of-network ATMs, although operator fees apply; free access to the Allpoint ATM network |
ACH fees | None |
Transaction limit before fees | Unlimited |
Domestic wires | None |
International wires | No fees for USD wires; 1% currency exchange for Non-USD wires |
Cash deposit fees | Cash deposits not accepted |
Other standout features |
|
Mercury is a fintech company, not an FDIC-insured bank. Banking services provided through Choice Financial Group and Column N.A., Members FDIC. | |
When to choose Mercury
Mercury is a strong choice for businesses wanting a modern, digital banking platform with more advanced cash management features. It works especially well for startups and growing companies that need multiple accounts, higher FDIC coverage through sweep programs, and support for domestic and international wires. Mercury is also a good fit for businesses that manage larger balances and want a clean, well-designed platform without monthly maintenance fees.
When to choose an alternative
If earning interest on your checking balance is a priority, Bluevine may be a better option, since Mercury’s checking account does not pay interest. Businesses that want simple budgeting tools may find North One easier to use, while companies that need stronger spending controls for teams may prefer Relay. Businesses that rely on in-person banking or frequent cash deposits may also be better served by a traditional bank like U.S. Bank.
Grasshopper: Best for funded startups seeking growth-focused digital banking
Overall Score:
4.20 / 5
Pros
- Competitive APY on business checking
- Unlimited ACH transfers
- No charge for incoming domestic wires
Cons
- No physical branch locations
- Cash deposits not accepted
- Some advanced banking services may be limited or unavailable
Features
- Online and mobile banking access
- Built-in cash management and payment tools
- Fraud monitoring and account security features
- Options available for saving and borrowing funds
- Mobile check deposit is available through the app
- No monthly maintenance fees or minimum balance requirements
- Fully online banking experience
Required opening deposit | $100 |
Required minimum balance | None |
Transaction limit before fees | Unlimited |
Monthly fee | None |
Domestic wire transfer fees |
|
International wire transfer fees |
|
ATM fees | Free at 37,000 MoneyPass & 8,500 Sum network ATMs |
Cash deposited | Cash deposits not accepted |
APY |
|
Other products available |
|
Grasshopper Bank, N.A. | Member FDIC. | |
When to choose Grasshopper
Choose Grasshopper Accelerator Business Checking if your startup has secured funding and needs banking that can support growth. The account combines fee-free digital banking with interest-earning opportunities, startup-focused resources, and access to a network of investors, partners, and service providers. It is a strong fit for founders who want a banking relationship that extends beyond basic checking features.
When to choose an alternative
Choose an alternative if your business handles cash regularly, requires extensive branch access, or is not a funded startup. Relay may be a better choice for businesses that need advanced expense management and multiple accounts, while Mercury is a strong option for startups seeking robust cash management tools. If in-person banking is important, U.S. Bank offers branch access that digital-only providers like Grasshopper cannot match.
Lili: Real-time expense monitoring and automatic transaction categorization with built-in tax tools
Overall Score:
4.15 / 5
Pros
- Payouts up to two days early
- No monthly maintenance fees
- Built-in expense tracking
Cons
- Real estate lending options
- No in-person banking options
- Upgraded features only available with paid plan
Opening deposit | None |
Monthly maintenance fee | None |
APY | N/A |
ATM fees | No charge at MoneyPass network; $2.50 fee for out-of-network fees + third-party fees may apply |
ACH fees |
|
Transaction limit before fees | Unlimited |
Domestic wires |
|
International wires |
|
Cash deposit fees |
|
Other standout features |
|
Lili is a financial technology company, not a bank. Banking services are provided by Sunrise Banks, N.A., Member FDIC. | |
When to choose Lili
Lili is a good fit for small businesses that want real-time visibility into spending, along with automatic transaction categorization and built-in tax tools. It works well for owners who want expenses tracked as they happen, with transactions organized automatically to simplify bookkeeping and tax prep. Lili is especially useful for businesses that prefer an all-in-one banking experience and want to manage finances through a simple, mobile-first platform.
When to choose an alternative
Businesses that want to earn interest on their checking balance may prefer Bluevine, which offers interest on qualifying balances. If managing funds across multiple checking accounts is more important than expense tracking, Relay or Mercury may offer more flexibility. Businesses that need in-person banking support or plan to use a broader range of traditional banking services may also find U.S. Bank a better fit.
Novo: Simple, no-frills free business checking for small business owners
Overall Score:
3.91 / 5
Pros
- Up to $7 in ATM refunds
- No monthly maintenance fees
- Faster funds transfer with Express ACH
Cons
- Cash must be converted to a money order and deposited as a check
- Limited lending options
- Account does not earn interest
Opening deposit | None |
Monthly maintenance fee | None |
APY | None |
ATM fees | None; refunds third-party ATM surcharges up to $7 monthly |
ACH fees | $0 for regular ACH; 1.5% of the transaction amount for Express ACH, with a max of $20 |
Transaction limit before fees | Unlimited |
Domestic wires |
|
International wires | $0 for incoming; can send international wires for a reasonable fee via Novo’s partnership with Wise |
Cash deposit fees | Cash deposits are not accepted directly; money orders can be purchased and deposited through the app |
Other standout features |
|
Novo Platform Inc. (“Novo”) is a fintech, not a bank. Banking services provided by Middlesex Federal Savings, F.A., Member FDIC. | |
When to choose Novo
Novo is a good choice for small businesses that want a straightforward business checking account with no monthly maintenance fees and minimal complexity. It works well for owners who handle most of their banking online and value a simple setup with easy integrations for tools like accounting software, payment processors, and invoicing platforms. Novo is especially well-suited for businesses that don’t need advanced cash management features and prefer a clean, easy-to-use account for everyday banking.
When to choose an alternative
Businesses that want to earn interest on their checking balance may prefer Bluevine, which offers interest on qualifying balances. If separating funds across multiple checking accounts or managing team spending is important, Relay or Mercury may offer more flexibility. Businesses that want built-in budgeting or tax organization tools may also find North One or Lili a better fit, depending on how they manage cash flow.
What to look for in a free business checking account
A good free business checking account should cover the basics without adding unnecessary costs. That includes no monthly maintenance fees, reasonable transaction limits, and easy access to online and mobile banking tools.
It’s also worth considering how the account fits into your broader financial setup, such as whether it integrates with accounting software, supports payment processing, or offers add-on services as your business grows. These factors can help you decide which option comes closest to being the best free checking account for small business use based on how you actually bank.
When a free business checking account is no longer enough
As a business scales, you may slowly outgrow your free account. Higher transaction volumes, frequent cash deposits, international payments, or the need for advanced treasury features can make paid accounts or full-service banking relationships more appealing. At that stage, upgrading can provide additional support, higher limits, or specialized tools that better match more complex financial needs.
The documents you need to open a business checking account
Most banks and fintechs require similar documentation when you apply for a business checking account. While requirements can vary by provider and business structure, you’ll generally need to bring the following:
- Government-issued photo ID for the business owner or authorized signer
- Employer Identification Number (EIN) or Social Security number for sole proprietors
- Business formation documents, such as articles of incorporation or articles of organization
- Operating agreement or bylaws, especially for LLCs or corporations
- Business license, if required for your industry or location
- Proof of business address, such as a utility bill, lease agreement, or bank statement
- Ownership details, including names and percentages for anyone with a significant ownership stake
- Personal information for authorized users, if more than one person will have access to the account
- Certificate of good standing, which some banks may request for older or multi-state businesses
Some providers may also ask for additional information depending on your business type, location, or account features. Having these documents ready ahead of time can help speed up the application and approval process.
What makes online banks appealing to small businesses
Many small businesses choose online banks because they tend to offer lower fees, simpler account structures, and more intuitive digital tools. Without the cost of maintaining physical branches or staffing in-person locations, online banks can operate more efficiently and pass those savings on to customers through lower or no monthly fees.
Online providers also streamline everyday banking tasks through mobile apps and integrations, making it easier to manage finances remotely. For businesses that don’t need branch access or frequent cash deposits, online banks can provide a more efficient and cost-effective banking experience.
What fees should you expect with business checking accounts?
Even with free business checking accounts, some fees may still apply. Common examples include cash deposit fees, wire transfer fees, and out-of-network ATM charges. Optional services like invoicing tools, additional debit cards, or premium features may also come at a cost. Understanding these potential fees upfront can help you avoid surprises and choose the account that best fits how your business actually operates.
Frequently asked questions (FAQs)
Free business checking accounts typically cover basic banking needs at no monthly cost, but they may still include fees for optional services. It’s important to review the fee schedule to understand charges for things like cash deposits, wires, or premium features.
Yes, many banks and fintechs allow you to open a business checking account entirely online. You’ll usually need to provide basic business documents, identification, and ownership information during the application process.
Free accounts often include core features like online banking, debit cards, and basic payment tools. Paid accounts may offer higher transaction limits, advanced cash management tools, or additional support services that growing businesses may eventually need.
Bottom line
The best free business checking account depends on how your business handles money day to day. Some accounts are better suited for digital-first businesses, while others work well for companies that value traditional banking relationships or built-in financial tools. By focusing on accounts with no monthly maintenance fees and features that match your needs, you can keep banking costs low while still supporting your business as it grows.