9 Best Online Business Bank Accounts for 2025

The best online business banks should offer excellent business checking options and support your company with a wide range of products and services. They should also provide affordable, easy-to-access banking platforms. While some providers may offer a more limited selection, others match the offerings of traditional banks, all with the added convenience of online banking.

Here are the 9 best online business banks for small businesses, with links directly to the providers:

• Bluevine Provider is a financial technology (fintech) platform backed by and FDIC-insured through a supporting bank partnership with Coastal Community Bank. : Best overall for digital banking
• 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 Mercury is a fintech company, not an FDIC-insured bank. Deposits in checking and savings accounts are held by our banking services partners, Choice Financial Group and Evolve Bank & Trust^®; Members FDIC. Deposit insurance covers the failure of an insured bank. Certain conditions must be satisfied for pass-through insurance to apply : Best for tech companies and startups
• Found Provider is a fintech platform backed by and FDIC-insured through a supporting bank partnership with Piermont Bank. : Best for self-employed professionals
• North One Provider is a fintech platform backed by and FDIC-insured by a supporting bank partnership with The Bancorp Bank, N.A. : Best for high-interest checking and integrated financial tools
• Lili Lili is a financial technology company, not a bank. Banking services provided by Sunrise Banks N.A., Member FDIC. : Best for digital tax preparation assistance
• Live Oak Bank Member FDIC. : Best high-yield savings products
• Grasshopper Member FDIC. : Best online bank with free payment software
• Baselane Provider is a fintech platform backed by and FDIC-insured by a supporting bank partnership with Thread Bank. : Best for real estate investors

Best online business banks basic checking accounts at a glance

Bluevine: Best overall for digital banking

When to choose Bluevine

• You want fee-free checking with great perks: Bluevine Standard Business Checking is our best online business bank account. It offers fee-free banking with no monthly fees, transaction fees, or minimum balance requirements. It includes great integrations, international payment support, and extended FDIC insurance of up to $3 million. Automatic transfers between your subaccounts and main account are also available.
• You want to earn interest on your online business bank accounts: Bluevine Standard business checking lets you earn 1.5% APY on qualifying balances of up to $250,000 by either spending $500 each month using its debit card or receiving $2,500 in customer payments monthly. This is why Bluevine is one of the best small business checking accounts available.
• You need either a business line of credit or a credit card: Bluevine has the best business line of credit on the market. Thanks to its excellent line of credit, it is also one of the leading banks for small business loans. In addition, the company offers the Bluevine Business Cashback Mastercard, which gives 1.5% unlimited cash back on all eligible business purchases.

When to choose an alternative

• You make regular cash deposits: Bluevine offers two cash deposit options with fees: $4.95 per transaction at 90,000 Green Dot locations or $1 plus 0.5% of the deposit at 1,500 Allpoint+ ATMs. For frequent cash deposits, consider a traditional bank like Chase. Check out our Chase Business Complete Banking review for more information.

Novo: Best for rapid access to funds

When to choose Novo

• You use Stripe, Square, or PayPal and want faster access to your funds: Novo Boost allows you to accept payments from popular online payment processors and receive payments faster than other fintechs on this list. You can connect Stripe, Square, or PayPal and get paid via credit card, Apple Pay, Google Pay, Venmo, or online ACH.
• You need to send or receive same-day ACH payments: Novo’s Express ACH enables you to accept or send same-day ACH payments. The combination of Express ACH and Novo Boost is why Novo is one of the best banks for small businesses.
• You want a great online banking product: Novo’s business checking has no monthly fees or transaction limits, offering unlimited free invoicing and top-notch accounting and payment integrations. Sole proprietors and single-member LLCs can apply without an employee identification number (EIN), and Novo refunds up to $7 in ATM fees monthly.

When to choose an alternative

• You want to earn interest: While Novo has an excellent business checking product, it doesn’t offer interest-bearing accounts. Consider Bluevine, North One, or Grasshopper for interest on checking, or Live Oak Bank for interest-bearing savings.

Mercury: Best for tech companies and startups

When to choose Mercury

• Startups and tech companies with larger balances: Tech companies and startups with larger balances will like Mercury’s Treasury product, which earns interest on balances of $500,000 and up. In addition, Mercury has top-notch software integrations with QuickBooks, Stripe, PayPal, and more, plus access to 100-plus software deals, making it perfect for tech companies and startups.
• Businesses looking for additional FDIC Insurance: Like Bluevine, Mercury uses partner banks and a sweep network to offer extended FDIC Insurance. This program, called Mercury Vault, extends coverage up to $5 million.
• Businesses looking for an introductory account with $0 fees: Mercury Business Checking has no monthly fees, overdraft charges, wire fees, or invoicing fees, making it a great, affordable option for businesses.

When to choose an alternative

• You are a sole proprietor or a trust: Sole proprietors and trusts can’t open accounts with Mercury. Sole props can use Bluevine or Found, while businesses organized as a trust may want to consult a traditional bank like Chase. For details, read our Chase Business Complete Banking review.

Found: Best for self-employed professionals

When to choose Found

• Freelancers looking for detailed expense tracking with integrated bookkeeping: If you’re seeking detailed expense tracking, you will appreciate Found. Its built-in bookkeeping software categorizes expenses, captures receipts, and lets you customize invoices and set custom rules within the Found app.
• Business owners looking for contractor management: Another major perk of Found is built-in contractor management. Found allows you to collect W-9s and generate 1099-NEC forms automatically to assist your contractors in tax reporting.
• Self-employed professionals looking for tax preparation assistance: In addition to fee-free business checking options without transaction limits, Found offers robust tax tracking and preparation software in the app. You can complete Schedule C and pay taxes directly from the app.

When to choose an alternative

• You want to earn interest without upgrading to a paid account: Found’s interest-bearing checking product is only available in its premium checking product, Found Plus ($19.99 monthly or $149.99 annually). You can earn 1.5% APY on balances up to $20,000 with Found Plus. For interest-bearing options without a paid account, consider Bluevine or North One.

North One: Best for high-interest checking and integrated financial tools

When to choose North One Standard

• You want a high-yield business checking account: With an impressive interest rate of 2.50%, the North One Standard account is one of the best online business banking accounts, leading in interest earnings. It comes with no monthly fees, free inbound domestic wire transfers, and monthly ATM and cash deposit fee reimbursements, making it an excellent choice to grow your business funds.
• You want to maximize built-in financial tools: North One offers various integrated financial tools to streamline your business operations. These include Envelopes for easy expense budgeting, bill pay for managing recurring supplier payments, invoice creation, real-time cash flow insights, and automated financial reports, which are all designed to simplify accounting.
• You want seamless integration with your business software: NorthOne integrates with a wide range of accounting, invoicing, payroll, and productivity tools, including QuickBooks, Stripe, Gusto, Intuit TurboTax, Adobe, Notion, and more. Additionally, small businesses can take advantage of exclusive discounts and free trials for popular software. Check out North One’s Perks page to learn more about it.

When to choose an alternative

• You regularly send international payments: Since NorthOne does not support international wire transfers, consider opening an account with Bluevine, which allows you to make overseas wire transfers to 32 countries in 15 currencies.

Lili: Best for digital tax preparation assistance

When to choose Lili

• You want an online banking provider that offers tax preparation assistance: Lili Pro’s tax software tracks potential tax write-offs, sets aside tax funds through a tax bucket, scans receipts, organizes expenses into tax categories, and generates expense reports, making it a powerful tool for small businesses with limited financial resources.
• You want the option to upgrade to a premium account with extra perks: Lili offers a fee-free basic checking account with a debit card and an early payout of two days via direct deposit. For more features, Lili Pro includes cash back rewards, fee-free overdrafts, high APY savings, and expense tools. Lili Smart and Premium plans add unlimited invoicing and automated bookkeeping.
• You want an online banking provider that services most business organization types: Lili allows multi-member LLCs, S-corps, general partnerships, and limited liability partnerships to sign up for an account, including sole proprietors (with or without a DBA) and single-member LLCs.

When to choose an alternative

• You need to deposit cash regularly: You can only deposit cash through Green Dot retail locations for $4.95 a transaction. Bluevine is a great alternative for businesses that send wires regularly, while a traditional bank like Chase is better for cash deposits.

Live Oak Bank: Best high-yield savings products

When to choose Live Oak Bank

• For businesses wanting maximum returns on company reserves: Live Oak Bank provides the best online banking accounts, offering 3.50% APY on business savings and up to 4.10% APY on business CDs. It caters to self-employed business owners, startups, freelancers, and gig workers.
• You want an online banking provider that is a traditional bank: Live Oak Bank is an FDIC member offering online-only accounts. This makes it stand out from the fintechs on this list that are backed by FDIC-insured banks. Once your account is open, you can deposit checks, pay bills, and make transfers entirely online. Its accounts are available to businesses nationwide.
• You need more FDIC protection for your business funds: To ensure higher fund protection for account balances over $250,000, you can enroll in Live Oak Bank’s insured cash sweep program. It provides up to $10 million in FDIC coverage, with a minimum of $350,000 required to participate. Check out our guide to sweep accounts to learn how they work.

When to choose an alternative

• You want to withdraw cash from your account or deposit cash: Live Oak Bank doesn’t offer a debit card with its savings account, requiring transfers to a business checking account. It also doesn’t accept cash deposits. For ATM access, consider Bluevine.

Grasshopper: Best online bank with free payment software

When to choose Grasshopper

• You want digital-only banking that includes great integrations: Grasshopper is one of our best online business bank accounts, with its standout feature being free Autobooks integration. This provides users with built-in payment processing and invoicing software at no extra cost.
• You want to earn interest on your business checking account: Balances under $25,000 or over $250,000 earn 1.0% APY, while balances from $25,000 to $250,000 earn 1.8%. To qualify, maintain a minimum average balance of $10,000 with no nonsufficient funds (NSF) items in the past 12 months.
• You need a wide range of business lending products: Where Grasshopper really shines is in its offer of both traditional and non-traditional business financing, including SBA lending, commercial real estate lending, yacht lending, and venture capital and private equity lending.

When to choose an alternative

• You need to deposit cash: Grasshopper doesn’t allow cash deposits into its business accounts. For frequent cash handling, consider a traditional bank like Chase. See our Chase Business Complete Banking review for information on Chase’s entry-level account. You can also choose fintechs like Bluevine and North One for cash deposit support.

For a higher cash deposit allowance, you can opt to open Chase’s premium checking account. Read our Chase Platinum Business Checking review to learn more about its features.

Baselane: Best for real estate investors

When to choose Baselane

• You’re a landlord or real estate investor seeking an all-in-one banking and property management platform: Baselane offers a fee-free business checking account, a high-yield savings account, free ACH payments, and real-time cash flow tracking. It also provides rent collection and tenant screening services, making it easy to manage your rental operations efficiently.
• You own a short-term rental property, such as an Airbnb or VRBO Vacation Rentals By Owner : Baselane’s unlimited accounts let you create a separate account for each property, allowing you to track expenses, manage finances, and streamline property management. You can also get both virtual and physical cards, plus access real estate-focused financial reports to analyze your property’s performance.
• You want hassle-free rent collection: Baselane simplifies rent collection by automating reminders for upcoming or overdue payments and setting up late fees to encourage timely payments. Renters can choose from various online payment methods, including ACH transfers, debit, and credit card payments, making it convenient for both parties.

When to choose an alternative

• You need in-person banking services: Baselane operates exclusively online, offering a fully digital banking experience. While it is the top provider of banking products and services tailored to landlords and real estate investors, it does not offer in-person banking. If you prefer a physical location, traditional banks like Chase and U.S. Bank are excellent alternatives.

How I evaluated the best online banks for small businesses

When evaluating the best online banks for small businesses, I considered several key factors to ensure a comprehensive review. I visited many websites of online banks, fintech platforms, and traditional banks that offer online business accounts to gather insights. This allowed me to compare features, services, and customer feedback across several providers.

• Monthly fees and waivers: I reviewed whether banks charge monthly fees and the conditions for waiving them, such as minimum balances or direct deposits, based on bank websites.
• Opening deposit and balance minimums: I examined opening deposit and minimum balance requirements to avoid fees or earn interest, sourced from each bank’s terms.
• Transaction limits and fees: I assessed transaction limits for ACH transfers, deposits, withdrawals, and associated fees, based on bank policies and fine print.
• ACH and wire transfer fees: I reviewed fees for ACH and wire transfers, including any discounts or free transfers, based on each bank’s business fee schedule.
• ATM fees and availability: I checked ATM network access and fees for out-of-network ATMs, using bank websites.
• Cash deposit support and fees: I evaluated options for cash deposits and associated fees, based on each bank’s policies.
• Interest yield: I reviewed interest rates for business accounts, particularly for those with significant cash balances, gathered from each bank’s offerings.
• Account perks: I considered additional benefits like cashback or rewards, sourced from promotional materials.
• Software integrations: I examined integrations with accounting, invoicing, and payroll platforms like QuickBooks and FreshBooks, using bank feature lists.
• Other business services: I assessed whether the bank offers payroll, merchant services, or expense tools, based on website pages.
• Lending products: I reviewed loan options, including SBA loans and credit lines, based on each bank’s offerings.
• Customer service and reviews: I evaluated customer support availability and quality, using reviews from the Apple app store and Google Play to gauge user satisfaction.

Services offered by online banks for businesses

In addition to interest-bearing checking and savings accounts with mobile or web transfer capabilities, many online banks offer innovative features and services to businesses, such as:

• Invoice creation and payment: Send invoices and enable customers to pay online
• Cash flow management tools: Track business expenses and income
• Merchant services/ payment processing: Accept customer payments via credit cards, debit cards, or digital wallets.
• Business loans and lines of credit: Access faster financing than traditional banks
• Bill pay: Pay utility bills and suppliers digitally
• Wire transfers: Send money securely to other banks, both domestic and international
• Tax tools and reporting: Use integrated tools for calculating and paying taxes
• Expense management tools: Organize finances by tracking and auto-categorizing expenses
• Multi-user access: Set different account permission levels for many users
• Fraud protection and security tools: Protect your account with advanced encryption and fraud detection tools
• Financial reporting and analytics: Access real-time financial reports (income statements, balance sheets, and profit and loss statements)
• Integration with accounting software: Sync with popular accounting platforms, QuickBooks and Xero to streamline bookkeeping
• International payments and currency conversion: Send and receive overseas payments using competitive exchange rates

What to consider when choosing an online business bank

While we used our own criteria to select the best online banks for small businesses for this list, here are some factors to consider:

1. FDIC Insurance: Ensure your business account is covered by FDIC insurance, protecting deposits up to $250,000. Some providers, like Mercury, offer extended coverage up to $5 million Mercury is a fintech company, not an FDIC-insured bank. Deposits in checking and savings accounts are held by our banking services partners, Choice Financial Group and Evolve Bank & Trust ®; Members FDIC. Deposit insurance covers the failure of an insured bank. Certain conditions must be satisfied for pass-through insurance to apply. with their Vault product.
2. Products and Services: Check if the bank offers the products you need. For example, Live Oak Bank provides business savings, checking, CD accounts, SBA and business loans, and commercial services. Meanwhile, Bluevine focuses on business checking and lines of credit.
3. Cash Handling: If your business frequently handles cash, consider a traditional bank, as online options for cash deposits can be costly and inconvenient. See our roundup of the best small business checking accounts.
4. Security: Research the bank’s security protocols and read customer reviews to ensure it has a strong security reputation.
5. Customer Reviews: Review feedback from other business customers to spot potential red flags and avoid issues. Each individual bank review on Fit Small Business includes a customer review section.

Steps to open a business bank account online

Choose an online bank or bank account type

Select a bank that offers online business banking services. Many traditional banks and digital-only banks provide options for businesses, such as U.S. Bank.

Prepare your documents

Each provider on this list may require different documents to open an online business bank account. Generally, you will need:

• Employer identification number (EIN) or Social Security number, if you’re a sole proprietor
• Personal and business details, including information about beneficial owners and proof of address.
• Fictitious business name certificate or doing-business-as (DBA) certificate, if applicable
• Business formation documents, such as Articles of Incorporation or LLC formation paperwork.
• Organization documents, including ownership agreements
• Business licenses, as required by your local government or industry
• Government-issued photo ID, such as a passport or driver’s license

Complete the application form

Fill out the online application form on the bank’s website or app. You’ll provide information about your business, such as its name, type, and address.

Submit documents

Upload the required documents as part of the application process. Some banks may ask for additional verification or request a video call for identity confirmation.

Verification and approval

The bank will verify your information. This process may take anywhere from a few minutes to several days, depending on the bank and the complexity of your business.

Fund your account

Some banks require an initial deposit to activate the account. You can usually do this via electronic transfer from another account.

Access your account

Once approved, you’ll receive access to your business bank account via the bank’s online platform. You can manage your account, make transfers, and track transactions online.

Frequently asked questions (FAQs)

Which online bank is best for small business?

---

Are online business bank accounts safe?

---

Should I use an online bank for small business?

---

How do I trust online banking?

---

What is the risk of online banking?

---

Is it possible to open a business bank account online?

---

Bottom line

If your business doesn’t need in-person banking, an online business bank offers 24/7 access and a range of services and products to meet your financial needs. Evaluate your business requirements and choose the best provider that fits your needs for seamless banking.