Editor’s note: This is a recurring post with regularly verified account details.
If you’re a small business that doesn’t normally handle cash, it’s fairly easy to use online checking accounts for your banking needs. The best options offer low-cost business checking along with bank features like in-network ATMs, ATM fee reimbursements, and seamless app integration. Simply put, the best online banks make digital banking just as easy to navigate as traditional banking.
The best online business checking accounts are:
- First Internet Bank: Best overall for free unlimited transactions and no monthly fees
- Azlo: Best for fee-free checking account and payment services integration
- BlueVine: Best for high-yield annual percentage yield (APY) checking with no fees
- TIAA Bank: Best for sole-proprietors or single-member limited liability companies (LLCs)
- Radius Bank: Best for earning up to 1.5% cash back on debit card purchases
- Novo: Best for freelancers and low-cost checking
First Internet Bank: Overall Best Online Business Checking Account
First Internet Bank tops our list with its small business checking account that offers unlimited transactions and no minimum balance. Plus, your deposit can flourish with the APY this account earns on balances of $10,000 or more. With this bank’s vast ATM network, it’s easy to pull out cash whenever you need it. This bank also has some of the best interest rates on business savings accounts, making it a great all-around bank for business owners.
Who it’s best for: Business owners looking for interest-bearing checking with unlimited transactions and no monthly fee
Pros | Cons |
|---|---|
Earn an APY of 0.50% | Online-only bank with no branches |
No monthly fee | Minimum balance of $10,000 to earn APY |
Offers other business accounts with high APYs | High outgoing wire transfer fees |
Fees & Terms
- Monthly fee: None
- Transaction fee: None
- Outgoing wire transfer fee (domestic): $20
- Outgoing wire transfer fee (international): $50
- ATM fee: None
- Minimum initial deposit: $100
- Minimum balance: None
- Ongoing APY: 0.50% on balances of $10,000 or more
Additional Features
- Free business debit card
- Online and mobile banking
- Remote deposit capture
- Small Business Administration (SBA) lending
- Selection of business accounts, including:
- High-yield business savings accounts
- Business money market accounts
- Business certificate of deposit (CD) accounts
For a full, in-depth look into how this online checking account can be advantageous to your business, read our First Internet Bank review.
Azlo: Best for Fee-free Checking and Payment Services Integration
Azlo’s completely fee-free online business checking account offers convenient banking without the hidden fees that come standard with some accounts. Not only do you get the convenience of instant transfers, but you can also create invoices directly from your Azlo account. What’s more, this account integrates nicely with payment systems like Square, Stripe, and PayPal. Plus, owners have access to more than 55,000 BBVA Compass and Allpoint ATMs at any time.
Who it’s best for: Business owners who don’t make cash deposits and want low-cost, fuss-free business checking that integrates seamlessly with payment processing apps and accounting software
Pros | Cons |
|---|---|
Fee-free checking account | No physical branches |
55,000 free ATMs nationwide | Doesn’t pay an APY |
Robust payment and accounting software integrations | Cash deposits not accepted |
Fees & Terms
- Monthly fee: None
- Transaction fee: None
- Outgoing wire transfer fee (domestic): Service not offered
- Outgoing wire transfer fee (international): Service not offered
- ATM fee: None at BBVA Compass or Allpoint ATMs
- Minimum initial deposit: None
- Minimum balance: None
Additional Features
- Free business debit card
- Digital invoicing
- Instant transfers
- Mobile and online banking
- Business loans through Kabbage
- Accounting software integration with apps like QuickBooks Online, Xero, and Wave
- Payment processing app integration with systems, including Kabbage, Stripe, Square, and PayPal
Azlo separates itself from First Internet Bank with its slew of app integrations and account features, which we go into more detail in our Azlo review.
BlueVine: Best for High-yield APY Checking With No Fees
Known for its small business loans and funding, BlueVine expands its commitment to customer support with its first business checking account. This account is free of monthly fees, automated clearing house (ACH) charges, and incoming wire fees. It also earns an impressive APY that’s 10 times the national average on balances of at least $1,000. With all these features and more than 38,000 ATM locations, this account is a great deal for any small business owner.
Who it’s best for: Business owners looking for a new banking platform that emphasizes reliable customer service and earns high APY on checking balances
Pros | Cons |
|---|---|
Earn 1% APY | Must have a balance of at least $1,000 to earn APY |
Excellent live online customer support from dedicated professionals | Doesn’t offer accounting software integrations |
BlueVine also offers business lending | No invoicing feature |
Fees & Terms
- Monthly fee: None
- Transaction Fee: None
- Outgoing wire transfer fee (domestic): $15
- Outgoing wire transfer fee (international): Not applicable
- ATM fee: None
- Minimum initial deposit: None
- Minimum balance: None
- Ongoing APY: 1.00% on balances of $1,000 or more
You’ll also be able to avoid ACH transaction, incoming wire, and nonsufficient funds fees.
Additional Features
- Free business debit card
- Mobile and online banking
- Free check orders, up to 200 checks
- Business lending, including:
- Lines of credit
- Term loans
- Invoice factoring
- Pay vendors and bills by ACH, wire, or check
- Make transfers to and from your other accounts
- Deposit checks from the BlueVine mobile app
BlueVine’s business checking account is a recently launched product and, for that reason, you deserve access to a detailed review of this account. The good news is that we wrote a BlueVine review for that reason.
TIAA Bank: Best for Sole Proprietors or Single-member LLCs
TIAA Bank’s Small Business Checking offers a solid free checking account designed for sole proprietors and single-member LLCs that also earns a high introductory APY. Accessibility isn’t an issue because you can make deposits online and have access to nearly 80,000 ATMs. Plus, this bank assists company employees relocate with several resources, including educational materials and mortgage specialists, making the process easier.
Who it’s best for: Unincorporated sole proprietors and single-member LLCs
Pros | Cons |
|---|---|
Earn an ongoing APY | Only refunds up to $15 in ATM fees each month |
Access to nearly 80,000 free ATMs | $1,500 deposit to open an account |
Offers other business account solutions | High outgoing wire fees |
Fees & Terms
- Monthly fee: None
- Transaction fee: None
- Outgoing wire fee (domestic): $25
- Outgoing wire fee (foreign): $35
- ATM fee: None
- Minimum initial deposit: $1,500
- Minimum balance: None
- Ongoing APY: 0.12% to 0.25%, depending on your balance
TIAA Bank provides unlimited ATM fee reimbursements when you maintain a balance of at least $5,000. If you don’t maintain a balance of at least $5,000, TIAA Bank will only refund up to $15 in ATM fees each month.
Additional Features
- Online banking and mobile banking
- Business credit card
- Merchant services
- Selection of business accounts, including:
- Business checking account
- High-yield business CDs
- Business money market account
TIAA Bank is an excellent bank for sole-proprietors and single-member LLCs. Find out why in our TIAA Bank review.
Radius Bank: Best for Earning up to 1.5% Cash Back on Debit Card Purchases
Radius Bank’s Tailored Business Checking is one of the only business checking accounts that rewards businesses with cash back on debit card purchases. This account earns an excellent 1.5% cash back on business debit card spending in four categories: health, food, entertainment, and social. Plus, you’ll earn 1% cash back on all remaining debit card purchases. However, you’ll need to keep an average balance of $10,000 to earn cash back rewards.
Who it’s best for: Payment-heavy businesses that keep an average balance of $10,000 or more to earn cash back
Pros | Cons |
|---|---|
Earn 1.5% cash back | High outgoing wire transfer fees |
Invoicing services through Autobooks | $5,000 minimum balance to avoid monthly fee |
Unlimited ATM fee reimbursements | $10 monthly fee |
Fees & Terms
- Monthly fee: $10, waived if you maintain a minimum balance of $5,000
- Transaction fee: None
- Outgoing wire fee (domestic): $18
- Outgoing wire fee (foreign): $40
- ATM fee: None; unlimited ATM fee reimbursements
- Minimum initial deposit: $100
- Minimum balance to avoid monthly fee: $5,000
- Ongoing APY: 0.10% on balances of $5,000 or more
Additional Features
- Free business debit card
- Check and cash deposits via ATM network
- Online and mobile banking
- Bill pay
- Remote deposit capture
- Invoicing services via Autobooks
- SBA loans and other lending services
- Business credit cards
Radius Bank offers unique features not seen on other accounts, including the ability to earn cash back. If you want to learn more about this account and those features, hop on over to our Radius Bank review.
Novo: Best for Freelancers and Low-cost Checking
Novo is an excellent option for freelancers and entrepreneurs who also like to keep their banking simple. It offers a business checking account with popular features that make digital banking even easier like online banking and mobile app integration. With Novo’s account, owners get great banking that’s completely fee-free. Open this bank account if you’re an owner who needs a basic account that’s easy to understand.
Who it’s best for: Freelancers and entrepreneurs who want easy-to-manage banking with no fees and easy app integration
Pros | Cons |
|---|---|
No transaction fees | Doesn’t offer outgoing wires |
Refunds all ATM fees | Opening deposit of $50 |
Integrates with Quickbooks, Xero, Stripe, and Slack | Difficult cash deposit process |
Fees & Terms
- Monthly fee: None
- Transaction fee: None
- Outgoing wire fee (domestic): Service not offered
- Outgoing wire fee (foreign): Service not offered
- ATM fee: Refunds all ATM fees
- Minimum initial deposit: $50
- Minimum balance: None
Additional Features
- Free business debit card
- Online and mobile banking
- Accounting software integration with QuickBooks and Xero
- Slack integration and notification
- Point-of-sale (POS) integration with Stripe
Similar to Azlo, Novo is an excellent online account with accounting software and app integrations. If you want to learn more about these integrations, read our Novo review. If you’re stuck between Novo and Azlo, read our comparison article to help you make the right decision.
How We Evaluated Online Business Checking Accounts
We reviewed several factors that make remote banking more affordable and easier, including low account fees and ATM access. We also looked for additional bank features valuable to business owners like easy app integration and introductory bonus offers. The accounts on this list are the best because they earn high marks in one or more of these areas.
Opening Conventional vs Online Business Checking Accounts
Business owners who need a business checking account can choose between conventional and digital banks. Traditional banks offer conventional checking accounts with brick-and-mortar branches. Those accounts usually provide a wide variety of products and services but carry more fees overall.
Meanwhile, digital checking accounts are designed better for online-based businesses that don’t handle cash. Most online business checking accounts have no fees. However, online banks that do have account costs typically have structures that make it easy to avoid account fees by meeting minimum balance requirements. This type of account may not be right for you if you need access to a physical branch.
Bottom Line
Online business checking accounts are designed for owners who don’t need physical branches or cash processing. The best accounts usually offer fee-free banking with features businesses find helpful, making it easy to bank remotely. When deciding on the best digital account for your business, consider the banking features that your company needs most.
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