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 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:
- BlueVine: Best for high-yield annual percentage yield (APY) checking with no fees
- Azlo: Best for fee-free checking account and payment services integration
- First Internet Bank: Best for opening your checking and savings account under the same bank
- TIAA Bank: Best for sole-proprietors or single-member limited liability companies (LLCs)
- Radius Bank: Best for earning up to 1.5% cash back in four spending categories
- Novo: Best for freelancers and low-cost checking
BlueVine: Overall Best Online Business Checking Account
BlueVine
What We Like
- 1% APY
- Integrates with leading accounting software and payment solutions
- BlueVine also offers business lending
What's Missing
- Savings accounts
Additional Features
- 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
Known for its small business loans and funding, BlueVine expands its commitment to small businesses with its small 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, opening a bank account like this is a great deal for any small business owner. It also integrates with leading payment solutions and accounting software like QuickBooks Online, Wave, Stripe, and PayPal.
Who it’s best for: Business owners looking for a banking platform that emphasizes reliable customer service and earns high APY on checking balances
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 all balances
You’ll also be able to avoid ACH transaction fee, incoming wire, and nonsufficient funds fees.
Azlo: Best for Fee-free Checking and Payment Services Integration
Azlo
What We Like
- Fee-free checking account
- 55,000 free ATMs nationwide
- Robust payment and accounting software integrations
What's Missing
- Physical branches
- APY
- Cash deposits
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’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. You can open this account with no deposit.
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
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
First Internet Bank: Best for Opening Multiple Bank Accounts
First Internet Bank
What We Like
- Earn an APY
- No monthly fee
- Offers other business accounts with high APYs
What's Missing
- Branch locations
- Easy-to-earn APY
- Low outgoing wire transfer fees
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
First Internet Bank is the only bank on our list that offers both business checking and savings accounts. This is a major convenience for those who want to have their accounts all under the same bank. Plus, through its checking account, you’ll have unlimited transactions and no minimum balance requirement. Although this is an online bank, its bank’s vast ATM network makes it easy to pull out cash whenever you need it.
Who it’s best for: Business owners looking for interest-bearing checking with unlimited transactions and no monthly fee
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: 0.40% on balances of $10,000 or more
TIAA Bank: Best for Sole Proprietors or Single-member LLCs
TIAA Bank
What We Like
- Earn an ongoing APY
- Access to nearly 80,000 free ATMs
- Offers other business account solutions
What's Missing
- Unlimited ATM fee reimbursements
- $0 opening deposit
- Low outgoing wire fees
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’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
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%
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.
Radius Bank: Best for Earning up to 1.5% Cash Back in Four Spending Categories
Radius Bank
What We Like
- Earn 1.5% cash back
- Invoicing services through Autobooks
- Unlimited ATM fee reimbursements
What's Missing
- Low outgoing wire transfer fees
- Easy-to-waive d monthly fee
- $0 monthly fee
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’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 $5,000 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
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
Novo: Best for Freelancers and Low-cost Checking
Novo
What We Like
- No transaction fees
- Refunds all ATM fees
- Integrates with Quickbooks, Xero, Stripe, and Slack
What's Missing
- Outgoing wires
- $0 opening deposit
- Easy cash deposit process
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
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 online 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
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
Similar to Azlo, Novo is an excellent online account with accounting software and app integrations. If you’re stuck between Novo and Azlo, read our comparison article to help you make the right decision.
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.
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.
Bottom Line
Online business checking accounts are designed for owners who don’t need physical branches or cash processing. The best banks for small business 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.
Yvonne Nuffer
Azlo just announced that they are going out of business.
Amanda Norman
Hi Yvonne,
Thanks for letting us know! I’ve passed the information on to the appropriate person.
Best wishes,
Mandy, Moderator