Editor’s note: This is a recurring post with regularly updated account details.
The best small business checking accounts should have low or no monthly fees, minimal transaction fees (for deposits, withdrawals, ACH, wires, and ATMs), and be accessible through a reliable online platform with a mobile app. They should also offer strong business support, including lending, merchant services, and interest-earning accounts, whether provided by a traditional bank or a financial technology company (fintech).
Here are my 10 picks for the best small business checking accounts, with links directly to the provider:
- U.S. Bank Member Federal Deposit Insurance Corp. (FDIC) : Best overall for free checking and businesses with low transaction volumes
- Chase Member FDIC : Best for full-service small business banking tools and premium checking
- Bluevine Provider is a fintech platform backed by and FDIC-insured through a supporting bank partnership with Coastal Community Bank. : Best fintech for interest-earning account with best line of credit
- Novo Provider is a fintech platform backed by and FDIC-insured through a supporting bank partnership with Middlesex Federal Savings. : Best digital-only provider for rapid access to funds and faster payments
- 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, startups, and businesses needing additional FDIC insurance 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.
- Grasshopper Member FDIC : Best digital-only bank for higher yield and integrated free payment software
- Found Provider is a fintech platform backed by and FDIC-insured through a supporting bank partnership with Piermont Bank. : Best digital-only provider for self-employed professionals
- CapitalOne Member FDIC. This provider is geographically limited. Capital One currently requires that you visit a branch to complete an application to open a business checking account. There are branch locations in Virginia, Texas, New York, New Jersey, Maryland, Louisiana, and Washington, D.C. : Best for unlimited everyday transactions
- Lili Provider is a fintech platform backed by and FDIC-insured by a supporting bank partnership with Sunrise Banks, N.A. : Best for AI-powered bookkeeping and tax preparation
- 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 multiple software integrations and budget system
Best small business checking accounts at a glance
Account name | Monthly fee | Annual percentage yield (APY) | New account promo* | Free cash deposit limit | |
|---|---|---|---|---|---|
 | Silver Business Checking | None | N/A | ||
 | Business Complete Checking | N/A | $5,000 per month | ||
 | Bluevine Standard | None | 1.5% | ||
 | Business Checking | None | N/A | N/A | |
 | Business Checking | None | N/A | N/A | N/A |
 | Innovator Business Checking | None | Up to 1.80% | N/A | N/A |
 | Business Checking | None | N/A | N/A | |
 | Basic Checking | N/A | N/A | $5,000 per month, then $1 per $1,000 | |
 | Basic Checking | None | N/A | N/A | |
 | North One Standard | None | 2.50% | N/A | |
*New account bonuses are received once the terms of the bonus offer are satisfied — and those terms vary for each provider. See our guide to the best business bank account promotions for full promo terms and requirements. | |||||
U.S. Bank: best overall for free checking and businesses with low transaction volumes
What We Like
- No monthly fee
- Free mobile check deposits
- Option to apply in person, online, or by phone
Drawbacks
- Expensive wire fees
- Limited free transactions
- Low cash deposit limits
Features
- Send and receive money through app
- Digital invoicing and payment systems integrated into your online dashboard
- Mobile app to monitor all of your accounts, transfer funds between accounts, and deposit checks online
- Easy integration with overdraft protection or credit card processing services for your business
- Free debit card and 50% discount on first check order with Deluxe up to $50
- Integrations with QuickBooks and U.S. Bank Payment Processing
- Customer service online, by phone, or in-branch during business hours
- Other products include lending and cash flow products, other checking options, and point-of-sale (POS) services
 | |
|---|---|
Required opening deposit | $100 |
Required balance minimum | None |
Transaction limit before fees | 125 in a month, then 50 cents per transaction |
Standard ACH fees | None |
Domestic wire transfer fees |
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International wire transfer fees |
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ATM fees | None at U.S. Bank and MoneyPass ATMs |
Cash deposits | 25 free units per month, then 33 cents per $100 |
U.S. Bank Member FDIC |
When to choose U.S. Bank’s Silver Business Checking
U.S. Bank’s Silver Business Checking offers no monthly fees, a welcome bonus, check fraud prevention, and overdraft protection.
- You seek a business checking account with no monthly fees: U.S. Bank Silver Business Checking stands out as a top business checking account due to no monthly fees, ranking number one in the best free business checking accounts on the market.
- You’re looking for a great welcome offer for a new account: Earn a $500 bonus with a new Silver Business Checking account or $900 with a Platinum Business Checking account when you open online with promo code Q1AFL25 and complete qualifying activities, subject to certain terms and limitations. Offer valid through March 31, 2025. Member FDIC. For details on how to qualify, see our article on the best bank account promos and offers.
- You want robust business banking services: U.S. Bank offers check fraud prevention, overdraft protection, remote deposit capture, payroll services, and point-of-sale (POS) solutions to protect and streamline your business banking.
Like the Silver Business Checking account, U.S. Bank does not charge a monthly fee for its specialty account, Nonprofit Business Checking. It made our list of leading nonprofit checking accounts.
When to consider an alternative
- You need access to a branch outside of U.S. Bank’s operational footprint: U.S. Bank is a top choice for opening a small business account, but its branch access might be limited, as it operates in only 26 states. If in-person access is crucial for your business, consider Chase, which offers more extensive branch networks nationwide.
Chase: Best for full-service small business banking tools and premium checking
What We Like
- Up to $500 bonus when you open an account
- Multiple ways to waive the monthly fee
- Branch presence in 48 states
Drawbacks
- Limited number of free transactions
- Does not earn interest
- Fee for cash deposits of more than $5,000 per statement period
Features
- Built-in card acceptance with QuickAccept℠ via the Chase Mobile® app
- Manage debit, deposit, and ATM card settings for individual employees
- Deposit checks, view account balances, pay bills, and make transfers through the mobile app
- Integrates with QuickBooks and other leading accounting software
- Free debit card, mailed within 10 business days of application approval
- Physical checks’ costs depend on type ordered
- Chase Payment Solutions
- Live customer support online or in branch during business hours
- Other products include business savings, CDs, lending products, credit cards, merchant services, and collection services
 | |
|---|---|
Required Opening Deposit | None |
Required Balance Minimum | None |
Transaction Limit Before Fees | 20, then 40 cents per transaction |
ACH Fees | $2.50 per item for first 10 payments and 15 cents for succeeding payments 1% of transaction for same-day ACH or $25 per transaction, whichever is less. |
Monthly Fees | $15; waivable if conditions are met |
Domestic Wire Transfer Fees |
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International Wire Transfer Fees |
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ATM Fees | $3 at non-Chase ATMs, plus ATM operator fees |
Cash Deposited | $5,000 free per month, then $2.50 per $1,000 |
APY | N/A |
When to choose Chase Business Complete Checking®
Chase offers a variety of banking services, a cash back bonus, and access to nationwide branches.
- You want a bank that offers a full suite of banking services: Chase, one of our leading banks for small businesses, provides a full-service business banking experience with three different types of business checking accounts, business savings accounts, credit cards, lines of credit, and point-of-sale (POS) and software solutions. See our review of Chase’s business checking accounts to compare them side-by-side.
- You want a cash back bonus for a new account: If you open a Business Complete Checking® account, you can qualify for a bonus of up to $500 as long as you meet other qualifying actions.
- You prefer the option of in-person banking, especially for businesses on the go: With more than 4,700 branches in 48 states and over 16,000 ATMs, Chase is a great choice for all businesses, but especially for business owners who travel frequently. That’s why Chase is one of our top banks for trucking businesses.
Consider opening Chase’s highest-tier account if you’re seeking a premium business account with more benefits — such as higher free transactions, free incoming wires, and a dedicated customer service line. Read our Chase Platinum Business Checking review to learn more details.
When to consider an alternative
- You want a bank account without monthly fees: Chase allows you to waive your monthly fees, but if you want a bank that doesn’t charge them, U.S. Bank is a great option for a traditional bank, and Bluevine is a great online fintech.
Bluevine: best fintech for interest-earning account with best line of credit
What We Like
- $300 sign-up bonus for new business checking account holders (use referral code: FSM300) How to earn the bonus: To earn the $300 bonus, customers must apply for a Bluevine Business Checking account anytime between now and 3/31/2025 using the referral code above. After opening the account, customers must add funds within 30 days, then meet at least one of the following eligibility requirements every 30 days for the next 90 days from account funding: Deposit at least $5,000 from eligible merchant services to your Bluevine account, Make at least $5,000 of outbound payroll payments from your Bluevine account using eligible payroll providers, or Spend at least $2,000 with your Bluevine Business Debit Mastercard® and/or Bluevine Business Cashback Mastercard®
- Three checking options with competitive interest
- Integrates with QuickBooks
- Unlimited 1.5% cash back business Mastercard
Drawbacks
- No savings, money market, and certificate of deposit (CD) accounts
- No physical branch locations
- Fee for depositing cash
Features
- No monthly maintenance fee
- No minimum balance requirement
- Reduced standard payment fees for Bluevine Plus and Bluevine Premier checking
- Free debit card (with up to 4 free additional debit cards for authorized users) and two free checkbook orders per year
- Integrates with QuickBooks and Xero
- Connects with business payment solutions, including Wise, Venmo, and Expensify
- Has live customer support from dedicated professionals
- Offers line of credit & credit card product
- Automatic transfers with sub-accounts
When to choose Bluevine Standard Checking
Bluevine provides interest-bearing accounts, excellent lines of credit, and fast international payments.
- You want an interest-earning checking account: Earn up to 1.5% APY on balances up to $250,000 with Bluevine by spending $500 on your debit card or receiving $2,500 in monthly deposits via ACH, wire transfer, mobile check deposit, or a merchant payment processing provider. This makes Bluevine a top choice for self-employed individuals and freelancers seeking passive income. This is why Bluevine is our leading bank for self-employed professionals.
- You need a line of credit: Bluevine is our top-recommended small business line of credit. Interest earnings combined with the ability to get a line of credit from the same fintech is one of the reasons Bluevine is our overall best bank for small business loans and top business bank accounts for LLCs.
- You need to send international payments: Bluevine allows international payments to 32 countries in 15 currencies, earning it a spot on our roundup of best banks for international businesses. Payments are sent directly from your Bluevine dashboard and can arrive in as fast as 24 hours.
When to consider an alternative
- You need to make cash deposits regularly or withdraw cash out-of-network: Bluevine charges fees when depositing cash or withdrawing cash out-of-network. Cash deposits cost $4.95 at over 90,000 Green Dot retail locations or $1 plus 0.5% of the deposit at Allpoint+ ATMs. Non-network ATM withdrawals incur a $2.50 fee plus any third-party charges.
Looking to open a high-tier business checking product? Check out our Bluevine Premier vs Chase Platinum Business Checking account comparison to see which matches your business needs.
Novo: best digital-only provider for rapid access to funds and faster payments
What We Like
- Monthly refunds up to $7 in ATM fees
- No maintenance fees
- Novo Boost and Express ACH allow faster access to your funds
Drawbacks
- Unable to deposit cash directly
- Lack of savings accounts
- Noninterest drawing account
Features
- Integrates with other business tools, such as QuickBooks, Xero, Stripe, Square, PayPal, and Wise
- Set aside funds for taxes and other large business expenses with Novo Reserves
- Deposit checks directly through the mobile app
- Online banking includes unlimited invoicing and bill pay
- Novo Boost in coordination with Stripe allows you to access funds faster
- Express ACH lets you accept or receive same-day ACH payments
- Quick financing option, merchant cash advance up to $75,000
- Virtual debit card available immediately, one free physical debit card per user
- Paper checks can be sent straight from the app
- Live customer support from dedicated professionals
Special offer | N/A |
Opening deposit requirement | $0 |
Monthly maintenance fees | $0 |
APY | N/A |
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 |
Transaction limit before fees | Unlimited |
Domestic wire transfer fees |
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International wire transfer fees |
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Cash deposit fees | N/A; money orders can be purchased and deposited through the app |
Other Standout Features |
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Novo is a business fintech platform backed by FDIC-insured Middlesex Federal Savings. | |
When to choose Novo Business Checking
Novo features Novo Boost for fast payouts, Express ACH for same-day transactions, and a business checking account with minimal fees.
- You use Stripe and want faster access to your funds: If you accept payments from popular online payment processors, Novo Boost lets you receive payments faster than other providers. Users can connect to Stripe and get paid via card, Apple Pay, Google Pay, PayPal, or Venmo.
- You need to send or receive same-day ACH payments: Novo offers Express ACH, which enables you to accept or send same-day ACH payments. The combination of Novo Boost and Express ACH gives you access to your money faster than other digital-only providers and makes Novo our top bank for ecommerce businesses.
- You want a mostly fee-free online bank account: Novo’s business checking has no monthly fee, nonsufficient funds (NSF) fees, transaction limits, minimum opening deposit, or minimum balance requirements. In addition, if your business often makes ATM withdrawals, Novo refunds ATM fees up to $7 monthly.
When to choose an alternative
- You want to earn interest on your business funds: While Novo offers a great business checking product, it doesn’t provide interest-bearing accounts. For interest-bearing options, consider Bluevine, Grasshopper, or North One for checking.
Mercury: best for tech companies, startups, and businesses needing additional FDIC insurance
What We Like
- No monthly maintenance fee on introductory account
- No fees for domestic or international wires
- Treasury product offers outstanding yield on balances over $500,000 Mercury Treasury, by Mercury Advisory, LLC, an SEC-registered investment advisor. Registration with the SEC does not imply a certain level of skill or training. SEC registration does not mean the SEC has approved of the services of the investment adviser.
Drawbacks
- Accounts unavailable to sole proprietorships and trusts
- No APY for checking accounts
- Limited lending options and no cash deposits
Features
- Earn interest with Mercury Treasury Mercury Treasury, by Mercury Advisory, LLC, an SEC-registered investment advisor. Registration with the SEC does not imply a certain level of skill or training. SEC registration does not mean the SEC has approved of the services of the investment adviser. product if you have more than $500,000 in Mercury accounts and request Treasury
- Set customer user permissions for your team members
- Create auto-transfer rules for your accounts
- Integrate accounts with QuickBooks and Xero accounting software
- Virtual debit cards available right away, with physical debit cards arriving in the mail in a few days
- Physical checkbooks unavailable
- Business payment integrations with Shopify, Stripe, Zapier, Amazon, and PayPal
- Email customer service available
- Savings account provided when you open checking account
- Other products include Mercury Treasury, capital and venture debt, and credit card
Special offer | (Fit Small Business exclusive) Earn $300 cash back when you deposit $10,000 within 90 days of account opening |
Opening deposit requirement | None |
Monthly maintenance fees | None |
APY | None |
ATM fees | No charge for out-of-network ATMs, although operator fees apply; free access to the Allpoint ATM network |
Transaction limit before fees | Unlimited |
Domestic wire transfer fees | None |
International wire transfer fees | None as long as it is sent through Mercury’s structure |
Cash deposit fees | N/A |
Other Standout Features |
|
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. | |
When to choose Mercury Business Checking
Mercury is ideal for tech companies and startups with large funds, offering a high-yield Treasury Mercury Treasury, by Mercury Advisory, LLC, an SEC-registered investment advisor. Registration with the SEC does not imply a certain level of skill or training. SEC registration does not mean the SEC has approved of the services of the investment adviser. product, up to $5 million in FDIC insurance, debit cards, and extensive ATM access.
- You’re a tech company or startup with large balances: With Mercury Treasury, which lets you earn interest on balances over $500,000, Mercury is one of our leading banks for startups and tech companies. And thanks to its Treasury product, it also secures a spot on our list of the best business savings accounts.
- You want additional FDIC Insurance: Mercury Vault uses partner banks and a sweep network to extend your FDIC insurance up to $5 million. Extra insurance is critical, especially if you are looking for crypto-friendly business bank accounts.
- You need multiple debit cards with a large ATM network for cash withdrawals: Mercury offers both physical and virtual debit cards, with access to 55,000 Allpoint ATMs for free withdrawals. While Mercury doesn’t charge for out-of-network ATM withdrawals, third-party operator fees may apply.
When to choose an alternative
- You are a sole proprietor or a trust: While most businesses incorporated in the US are eligible for an account, Mercury is unavailable to sole proprietorships and trusts. Chase is a great option for a traditional bank for those types of businesses, while Found is an excellent option for a fintech.
Note: Deposits in Mercury checking and savings accounts are held by Mercury’s partner banks, Choice Financial Group and Evolve Bank & Trust, Members FDIC. Through sweep networks, these funds become eligible for up to $5 million in FDIC Insurance. Visit Mercury’s website for more information.
Grasshopper: best digital-only bank for higher yield and integrated free payment software
What We Like
- Cash back on debit card purchases
- Interest-bearing account
- No monthly fees or transaction fees
Drawbacks
- No physical locations
- Minimum deposit required to open
- Cash deposits not accepted
Features
- Free physical and virtual Visa® rewards debit cards
- Unlimited 1% cash back on online and signature-based purchases
- Free bill pay, check deposit services, and digital invoicing tools
- Free domestic ACH and wire transfers when a balance greater than or equal to $25,000 is maintained
- International US dollars (USD) and foreign exchange (FX) wire transfers also available
- Autobooks, QuickBooks, and Plaid integrations with additional financial data management tools available
- Access to multimillion-dollar FDIC insurance up to $125 million
- Earn up to 3.30% APY on balances greater than $50,000 when bundled with an Accelerator Money Market Savings Account
- Personalized support from a US-based Client Services team available by phone, email, chat, and secure message
- Other products include savings accounts, startup banking services, treasury management, CRE loans, and SBA loans
Special offer | N/A |
Opening deposit requirement | $100 |
Monthly maintenance fees | None |
APY |
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ATM fees | None at 45,000 MoneyPass & SUM network ATMs |
ACH fees | None |
Transaction limit before fees | Unlimited |
Domestic wire transfer fees |
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International wire transfer fees |
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Cash deposit fees | N/A |
Other Standout Features |
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Grasshopper Bank Member FDIC | |
When to choose Grasshopper’s Innovator Business Checking
Grasshopper offers an uncapped APY, cash back rewards on debit card use, and free payment software, Autobooks.
- You want to earn interest: Grasshopper offers up to 1.80% APY uncapped. Balances under $25,000 or over $250,000 earn 1.00% APY, while balances from $25,000 to $250,000 earn 1.80%. To qualify, you must maintain a minimum average balance of $10,000 with no NSF items during the past 12 months. Due to its strong rates, Grasshopper is featured in our best banks for real estate investors.
- You are looking for cash back rewards on online and in-store debit card purchases: Grasshopper’s debit card earns 1% cash back on all online and in-store debit card purchases.
- You want digital-only banking with great integrations: Grasshopper is an online-only financial institution with excellent software integrations, including free payment software Autobooks. This is why it’s featured on our list of the best online business banks for small business checking.
When to choose an alternative
- You need to deposit cash: Grasshopper offers one of the best business checking accounts for small businesses, but it doesn’t support cash deposits. If cash deposits are important, consider Bluevine, Lili, or North One, or opt for a traditional bank like Chase, U.S. Bank, or Bank of America.
Found: best digital-only provider for self-employed professionals
What We Like
- No monthly fees, minimum balances, account fees, and sign-up fees
- Excellent expense tracking on both its desktop and mobile apps
- Helps you track tax write-offs and gives you real-time tax estimates
Drawbacks
- No lending products
- Interest earning only through paid-tier Found Plus
- Cannot purchase checks or issue them from the app
Features
- Provides a business debit Mastercard, which allows you to track expenses and receive purchase alerts
- Debit cards can be frozen in the Found app
- Desktop and mobile apps
- Connect to accounting software and payment apps, such as Cash App, PayPal, Square, Venmo, and Stripe
- Integrated bookkeeping allows you to categorize expenses, customize invoices, capture receipts, and set custom rules
- Track tax write-offs in the app
- View your tax estimate update in real-time
- Pay your taxes directly from the app
- Send your Schedule C directly from the app
- Allows cash deposits at over 80,000 retail locations
- Customer service via email, online form, and support guides on the website
Special offer | N/A |
Opening deposit requirement | None |
Monthly maintenance fees |
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APY |
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ATM fees | Found doesn’t charge for ATM usage; third-party ATM fees will likely apply |
ACH fees | None |
Transaction limit before fees | Unlimited |
Domestic wire transfer fees | Free incoming wires; outgoing wires only sent to Found customers |
International wire transfer fees | Unavailable |
Cash deposit fees | Accepted at over 80,000 retail locations; $2 fee per cash deposit |
Other Standout Features |
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Found is a business fintech platform backed by FDIC-insured Piermont Bank. | |
When to choose Found Business Checking
Found provides expense tracking, contractor management, and integrated tax preparation software for self-employed professionals.
- You’re a freelancer looking for detailed expense tracking with integrated bookkeeping: Found offers detailed expense tracking, receipt capture, and custom rules within its app. It also provides unlimited free invoicing, customizable with your company logo and colors, and lets you accept invoice payments via Cash App, PayPal, Square, Venmo, and eBay. This makes Found our best bank for sole proprietorships.
- You’re a business owner looking for contractor management: With built-in contractor management, Found allows you to request and manage W-9s, 1099 payment reports, 1099-NECs, and more.
- You’re a self-employed professional seeking tax help: Found offers fee-free business checking with no transaction limits, plus robust tax tracking and preparation tools. You can file your Schedule C and pay your tax bill directly from the app. This is also among the reasons Found is included in our roundup of the best business bank accounts integrated with QuickBooks.
When to choose an alternative
- You want to earn interest without upgrading to a paid account: Found offers an interest-bearing checking account with its Found Plus plan, which costs $19.99 monthly or $149.99 yearly. Found Plus earns 1.5% APY on balances up to $20,000. However, Bluevine, Grasshopper, and North One offer fee-free interest-earning checking accounts.
Note: Found is a financial technology company, not a bank. Banking services are provided by Piermont Bank, Member FDIC. The Found Mastercard debit card is issued by Piermont Bank pursuant to a license from Mastercard Inc. Found’s core features are free. Found also offers a paid product, Found Plus.
Capital One: best for unlimited everyday transactions
What We Like
- Unlimited transactions
- Easy ATM access
- No opening deposit
Drawbacks
- Account doesn’t earn interest
- Limited physical locations
- No APY
Features
- Pay bills, track accounts, transfer funds, and deposit checks with the mobile app
- Integrates with QuickBooks, Xero, and other top accounting software
- Free overdraft protection when linked to another small business deposit account
- Free debit card
- Physical checks (cost based on type ordered)
- Connect with business payment solutions
- 24/7 support by phone or in-branch support during business hours
- Other products include lending products, credit cards, and savings accounts
 | |
|---|---|
Required Opening Deposit | $0 |
Required Balance Minimum | None |
Transaction Limit Before Fees | Unlimited digital transactions |
ACH Fees | None |
Monthly Fees | $15; waivable if conditions are met |
Domestic Wire Transfer Fees |
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International Wire Fees |
|
ATM Fees | |
Cash Deposited | Up to $5,000 per month free, $1 for every $1,000 after that |
APY | N/A |
When to choose Capital One Basic Checking
Capital One features unlimited free daily transactions, an easy-to-waive monthly fee for a basic checking account, and a wide range of business credit cards.
- You want a traditional bank with unlimited free everyday transactions: Capital One stands out among brick-and-mortar banks by offering fee-free everyday transactions, making it one of the best checking accounts for business. You get unlimited deposits, withdrawals, and transfers, excluding international wires and cashier’s checks.
- You want a business bank account with an easily waivable monthly fee: The monthly fee of $15 is easily waivable. You need a 30- or 90-day balance average of $2,000 to waive the fee.
- You need business credit cards: Capital One has a great selection of business credit cards. Check out our buyer’s guide to the best Capital One business credit cards to find one that best fits your business needs.
When to choose an alternative
- You require in-person banking: The bank only has branches in Virginia, Texas, New York, Illinois, Massachusetts, Atlanta, California, and Pennsylvania. If you aren’t near a branch, Chase and U.S. Bank are great alternatives.
Lili: best for AI-powered bookkeeping and tax preparation
What We Like
- No monthly fees for basic tier
- 3.00% APY on savings accounts
- Paid plans provide tax preparation assistance and bookkeeping tools
Drawbacks
- No physical locations
- Some of the best features are in higher-tier accounts
- Outgoing wire transfers are $15
Features
- Free Visa business debit card The Lili Visa® Debit Cards is issued by Sunrise Banks N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc..
- Mobile banking
- Unlimited invoice creation (Lili Smart and Lili Premium)
- Prefilled tax forms (Lili Smart and Lili Premium)
- Bookkeeping solutions (Lili Pro, Lili Smart, and Lili Premium)
- Two days early payment via direct deposit
- Integrations with QuickBooks, Venmo, PayPal, and CashApp, among others
- Toll-free phone support Monday through Friday, 9 a.m. to 7 p.m. Eastern time, and by email
- Lili Pro available for $9 per month
Special offer | None |
Opening deposit requirement | None |
Monthly maintenance fees |
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APY | N/A |
ATM fees | None at 38,000 MoneyPass ATMs (third-party ATM fees may apply); $2.50 for out-of-network |
ACH fees | None |
Transaction limit before fees | Unlimited |
Domestic wire transfer fees |
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International wire transfer fees |
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Cash deposit fees | $4.95 fee per transaction, available through Green Dot retail locations |
Other Standout Features |
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Lili is a business fintech platform backed by FDIC-insured Sunrise Banks N.A., Member FDIC. | |
When to choose Lili
Lili is perfect for self-employed professionals seeking smart bookkeeping, tax preparation, and cash back rewards through subscription plans.
- You’re a self-employed professional seeking tax preparation tools: Lili made it to our list of best bank accounts for self-employed professionals. The Lili Premium plan helps you set aside tax savings, sort transactions into tax categories, access pre-filled tax forms (Schedule C, Form 1065, and Form 1120-S), and download business expense reports quarterly or annually.
- You want efficient bookkeeping automation: With Lili AI, categorizing transactions is instant when you use your debit card. This streamlines your bookkeeping process.
- You prefer to earn cash back rewards: Subscribing to paid plans allows Lili users to earn cash back benefits by using the card.
When to choose an alternative
- You want physical checkbooks: Lili does not offer physical checkbooks but provides a $3 per check mail-a-check service. If you need a more cost-effective option for physical checks, consider traditional banks like Chase, U.S. Bank, or Capital One, which offer checkbooks with their business accounts.
North One: best for multiple software integrations and budget system
What We Like
- Up to 3.00% APY (Plus)
- Sales, payments, spending, and budgeting connected in one place
- Envelopes offered to separate funds into different categories for easy budgeting
Drawbacks
- No physical locations
- Only one free cash deposit monthly (Standard)
Features
- Physical and virtual cards for each owner
- Individual login access is provided to co-owners
- Desktop and mobile app banking
- Ability to receive unlimited ACH and domestic wire deposits
- Free bill pay
- Integration with QuickBooks, Wave, Patriot Accounting, and Zoho
- Compatible with Stripe, PayPal, Square, Shopify, Amazon, and eBay
- Ability to send paper checks from your North One account
- North One perks include discounts and free trials of business software and productivity tools
- Local customer support available through phone, email, and live chat
- Other products include lines of credit and term loans
| |
|---|---|
Required Opening Deposit | $50 |
Required Balance Minimum | None |
Transaction Limit Before Fees | Unlimited |
Monthly Fees | None |
Domestic Wire Transfer Fees | $20 for outgoing and $0 for incoming |
Same-day ACH Fees | 1.5% fee (minimum of $1 and maximum of $15) |
ATM Fees | Cash withdrawals through Mastercard®, Maestro®, or Cirrus® ATM network |
Cash Deposited | Up to $4.95 per transaction at Green Dot retail locations
North One is now refunding third party fees for cash deposits refunding one deposit fee per month for Standard customers and up to three deposit fees per month for Plus customers.
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APY | 2.50% |
Customer Service | By phone, email, or live chat during weekdays from 9 a.m. to 6 p.m. Eastern time |
Other Products | North One Plus account, business line of credit, and business term loan |
North One is a business fintech platform backed by FDIC-insured The Bancorp Bank N.A. | |
When to choose North One Standard
North One offers numerous integrations, a budgeting tool, and lending options for small businesses.
- You want to maximize software integrations: With around 60 integrations, including QuickBooks, Expensify, Gusto, PayPal, and Shopify, North One syncs seamlessly with your business tools to streamline operations.
- You need a budget system: North One’s Envelopes feature makes it one of the best bank accounts for small businesses. It helps you allocate funds automatically for fixed expenses like rent, taxes, payroll, utilities, and insurance.
- You want access to financing: North One offers business lines of credit and term loans up to $250,000 with potential same-day funding via a quick online application, and your credit score remains unaffected.
When to choose an alternative
- You want free cash deposits: North One reimburses one cash deposit fee for Standard users and three for Plus users, but Green Dot retail locations can charge $4.95 per deposit. Consider Chase or Capital One, which allow up to $5,000 in monthly cash deposits with no fees.
How I evaluated the best business checking accounts
To create the list of the 10 best small business checking accounts, I evaluated factors like fee structure, interest offer, balance requirements, ATM fees, and online banking features, including business tool integrations. I also considered the availability of additional financial products, such as lending options, to ensure each provider offers comprehensive support for small businesses.
Reasons to consider a business checking account
- Keeps business and personal finances separate: To maintain the accuracy of your business’s financial records, it’s essential to keep your business and personal finances separate.
- Helps build your business credit: When you open a business bank account, credit bureaus begin tracking your business’s credit history.
- Allows easy assessment of your business performance: With your income and expenses running through a dedicated account, it becomes easier to analyze your business’s performance.
- Lends credibility to your business: Customers will see your business as more trustworthy when payments come from a business account.
- Simplifies tax season: Using a business checking account helps maintain a record of income and expenses, simplifying your tax preparation at the end of the year.
- Helps build a banking relationship: It can be beneficial if you need business financing in the future.
What to consider when choosing the best business checking account
While I used my own criteria to select the best small business checking accounts for this list, here are some things you should review before making a selection:
- Eligibility criteria: Some accounts are limited by business organization type or location. Confirm with the provider if your business type can open an account.
- Fee structure: Some accounts are fee-free, while others have waivable fees and limited free transactions monthly. Consider whether you can meet the criteria to waive any fees and if the costs are offset by interest earnings.
- Physical branches: If your business handles cash or requires in-person visits, choose a bank with nearby branches.
- Online account opening: Some businesses can open accounts online, while others, like LLCs or corporations, may need to visit a branch for account opening. Check with the bank.
- Customer reviews: Our individual bank reviews include a customer review section, which covers both business and personal accounts. Be sure to focus on those relevant to your business.
For more information, see our guide on how to choose a small business bank.
What you need to open a small business checking account
Though each provider above 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
You may be interested in our guide on how to open a business bank account. It includes a downloadable checklist of documents banks typically require.
Frequently Asked Questions (FAQs)
Thanks to no monthly fees, U.S. Bank has the best entry-level business checking account. You get up to 125 free monthly transactions and can deposit up to 25 units for free each month. Cash deposit units are calculated by dividing each cash deposit amount by 100 and rounding the resulting value to a whole number. There are additional guidelines available for deposits under $100 to help customers keep up with their available units.
The best free business checking accounts should have either no or easily waivable monthly fees. Banks that don’t charge monthly fees include Bluevine, U.S. Bank, Novo, Mercury, Grasshopper, Found, Lili, and North One. Banks with easily waivable monthly fees are Chase and Capital One.
If you own and operate a business, you need to have a business checking account. Here are the benefits of having a business checking account:
- It separates your business and personal finances.
- It helps you build your business credit.
- It lets you assess your business performance more easily.
- It lends credibility to your business.
- It simplifies tax season.
- It helps you build a banking relationship.
- It allows you to accept credit card payments.
They have similar features, with the main difference being branch access. Chase has branches in all 48 inland states, while Capital One covers only eight states. The monthly maintenance fee and monthly transaction limits are the same for both banks’ introductory accounts; however, Chase is offering a cash back bonus for new accounts meeting qualifying activities.
To open a business checking account, follow these six steps, as listed in our guide on how to open a business bank account:
- Step 1: Gather the required documents.
- Step 2: Select the right bank account.
- Step 3: Find the best bank.
- Step 4: Learn the account’s possible costs.
- Step 5: Open the account online or in person.
- Step 6: Deposit funds.
Some business checking accounts, including those from Chase and U.S. Bank, offer cash bonuses as part of their promotional offers.
Bottom Line
All the banks and fintech companies listed offer excellent business checking products, with some providing full-service banking and others specializing in specific aspects of business banking. To find the best fit for your business, assess your needs, compare the offerings and fees, and choose the provider that aligns with your business’s current and future goals.
