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Choosing the best online business bank account can make it easier to manage cash flow, organize expenses, pay vendors, and keep your business finances on track. However, the right account depends on how your business handles money, including whether you deposit cash, send wires, earn interest, or give employees account access.
As a former banker, I know that an account’s monthly fee tells only part of the story. When comparing each online business bank account, I also looked at APY requirements, transaction limits, cash-deposit options, accounting integrations, team permissions, branch access, and additional service fees.
This guide compares accounts from both FDIC-insured banks and fintech companies that provide banking services through partner banks. Whether you want multiple accounts for cash-flow management, startup-friendly tools, interest-bearing checking, or straightforward banking, these seven options address different small-business needs.
- Best online business banks at a glance
- Relay: Best for multiple accounts and cash-flow segmentation
- Mercury: Best for digital businesses with complex payment workflows
- Bluevine: Best for earning APY on business checking
- Grasshopper: Best for balance-based APY from an FDIC-insured digital bank
- Novo: Best for freelancers and ecommerce payments
- nbkc Bank: Best for straightforward, low-fee banking
- Lili: Best for high-yield savings on large cash reserves
- How to choose the best online business bank account for your business
- When an online business bank account may not be the right fit
- Bottom line
- You might also like…
Best online business banks at a glance
Provider | Best use case | Monthly fee | APY and requirements | Cash deposits | Free transactions |
| Relay Starter | Multiple accounts and cash-flow segmentation | $0 | 1.11% APY on linked savings, not checking | Free at eligible Allpoint+ ATMs; up to $4.95 at Green Dot | No transaction limit; fees apply to certain wires and expedited transfers |
| Mercury | Digital businesses with complex payment workflows | $0 required monthly fee | Checking does not earn APY; Mercury Treasury is available to eligible customers with at least $250,000 across Mercury accounts | Not accepted | Standard ACH and domestic wires are free |
| Bluevine Standard | Earning APY on business checking | $0 | 1.30% APY on eligible checking balances up to $250,000 after meeting a monthly activity requirement; paid plans offer higher rates | Up to $4.95 at Green Dot; $1 plus 0.5% at eligible Allpoint+ ATMs | Unlimited standard transactions; wire and expedited-transfer fees may apply |
| Grasshopper Accelerator Checking | Balance-based APY from an FDIC-insured digital bank | $0 | 1.00% APY on balances from $0.01 to $24,999.99; 1.35% from $25,000 to $250,000; and 1.00% on balances of $250,000.01 or more | Not accepted | Unlimited transactions and free ACH; outgoing domestic wires cost $10 but are reimbursed with an average monthly balance of at least $25,000 |
| Novo Business Checking | Freelancers and ecommerce payments | $0 | None | Not accepted | No transaction limit and free standard ACH; outgoing domestic wire fees apply |
| nbkc Business Account | Straightforward, low-fee banking | $0 | None on checking | Available at nbkc branches and eligible deposit-taking MoneyPass and Allpoint ATMs; ATM owners may charge a fee | Unlimited transactions; incoming domestic wires are free, and outgoing domestic wires cost $5 |
| Lili Core | High-yield savings on large cash reserves | $0 | Linked savings earns 2.25% APY on balances up to $500,000 and 4.00% APY on the portion above $500,000 through $1 million; checking does not earn APY | Available at Green Dot locations; retailer fees may be up to $4.95 | Standard ACH and bill pay are free; Express ACH and wire fees apply |
Why you can trust Fit Small Business
I reviewed each provider’s official website, account disclosures, fee schedule, APY requirements, transaction costs, cash deposit options, integrations, and FDIC insurance structure. Terms were last verified in September 2026.
I evaluated each provider based on monthly fees, minimum balance requirements, APY, transaction allowances, wire costs, cash deposit access, branch availability, accounting integrations, team permissions, financial management tools, customer support options, and overall value for different types of businesses.
I did not open and transact through every account featured in this guide. My recommendations are based on my banking experience and a comparison of current provider disclosures and account terms, not a claim that I personally tested every application, dashboard, or support channel.
I am committed to delivering expert answers to your small business questions with accuracy, clarity, authority, objectivity, and accessibility. These standards align with the Fit Small Business Editorial Policy.
My methodology
To build this list of the best online business banks, I examined Relay Starter, Mercury’s business banking account, Bluevine Standard, Grasshopper Accelerator Checking, Novo Business Checking, the nbkc Business Account, and Lili Core.
I focused on providers that serve common small-business needs, including cash-flow management, startup banking, interest-bearing checking, ecommerce payments, straightforward banking, and high-yield savings.
My goal was to identify the best online business bank account for different types of business owners rather than recommend one provider for everyone. I reviewed each provider’s official website, account disclosures, pricing information, and available fee schedules. Rates, fees, and account terms were last verified in September 2026.
Each online business bank account was evaluated using consistent criteria that reflect how business owners compare banking providers in real purchasing decisions, including the following categories:
Pricing and value: I compared monthly fees, minimum balance requirements, transaction limits, cash-deposit costs, and fees for ACH transfers, domestic wires, international wires, and expedited services.
Core features: I evaluated APY and its qualification requirements, cash-flow tools, subaccounts, invoicing, bill pay, team permissions, debit card controls, ATM access, cash deposits, and branch availability. I also noted whether APY applies to checking or a linked savings account.
Ease of use: I considered application requirements, online and mobile banking capabilities, account-management options, and how easily business owners can complete everyday banking tasks. I did not open or fund new accounts or submit new applications specifically for this update.
Integrations: I reviewed connections with accounting, payroll, payment-processing, and ecommerce platforms, including QuickBooks, Xero, Gusto, Shopify, Stripe, Square, and PayPal.
Customer support: I compared available support channels, service hours, help-center resources, and access to phone, email, or chat assistance. I did not contact or test customer support channels specifically for this update.
User feedback: I considered recurring themes in customer feedback to identify common strengths and limitations. Provider websites and official fee disclosures remained the primary sources for factual information about rates, fees, features, and account terms.
I also considered my experience working as a banker and helping business owners choose accounts that fit their cash-flow and operational needs.
Features
- No monthly maintenance fees
- Opening deposit not required
- Custom spending controls for team members
- Eligible deposits may qualify for up to $3 million in FDIC insurance through Thread Bank’s deposit sweep program; conditions apply
- Ability to create additional accounts for taxes, payroll, or business projects
Relay Starter Business Checking terms
| Required opening deposit | $0 |
| Required minimum balance | None |
| Transaction limit before fees | Unlimited |
| Monthly fee | $0 |
| Domestic wire transfer fees |
|
| International wire transfer fees |
|
| ATM fees | None at Allpoint ATMs; Relay doesn’t charge out-of-network ATM fees, although third-party fees will apply |
| Cash deposited | $0 through Allpoint+ ATMs and $4.95 per deposit at Green Dot retail locations |
| APY | 1.11% APY on linked Starter savings accounts |
| Other products available |
|
| 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
If cash-flow management is a top priority, Relay stands out because its Starter plan lets you open multiple checking accounts for payroll, taxes, operating expenses, profit, and other savings goals. I’ve seen businesses with multiple revenue streams or tight budgeting needs benefit from having that level of organization built directly into an online business bank account.
Relay is also a strong fit for growing teams. You can issue physical, virtual, or temporary debit cards, establish spending limits, restrict purchases, and control account access without implementing a more complex treasury management system.
When to choose an alternative
Relay may not be the best online business bank account if earning interest directly on your checking balance is a priority. Relay Starter checking does not earn APY, although linked Starter savings accounts currently earn 1.11% APY. Choose Bluevine or Grasshopper if you want to earn interest without moving funds from checking to savings.
Relay may also fall short for cash-heavy businesses. Cash deposits are available through eligible Allpoint+ ATMs and Green Dot retailers, but deposit limits and retailer fees can make this less convenient than using a traditional bank with branch access.
Features
- Customer service available 24/7
- Up to $5M FDIC insurance coverage available
- Integration with payment processing and accounting software
- Virtual debit cards available for employees and vendors
- Multi-account support available for funds segregation
- Ability to set up custom user permissions
- API access for custom integrations
- Ability to create automated workflows
Mercury Business Checking terms
| Required opening deposit | $0 |
| Required minimum balance | $0 |
| Transaction limit before fees | No monthly transaction limit; fees may apply to premium, international, and API-based services |
| Monthly fee | No required monthly maintenance fee |
| Domestic wire transfer fees | Inbound: $0 Outbound: $0 |
| International wire transfer fees | Inbound: $0 Outbound: $0 Non-USD outbound: 1% currency exchange rate |
| ATM fees | No charge for use within the Mercury network; third-party fees may apply |
| Cash deposited | Cash deposits not accepted |
| APY | N/A |
| Other products available |
|
| Mercury is a fintech company, not an FDIC-insured bank. Banking services provided through Choice Financial Group and Column N.A., Members FDIC. FDIC deposit insurance covers the failure of an insured bank. Deposits in checking and savings accounts are FDIC-insured through Choice Financial Group and Column N.A. and their Sweep Program Network Banks. Certain conditions must be satisfied for pass-through FDIC insurance to apply. | |
When to choose Mercury
Mercury is a strong choice for digital-first businesses that need flexible payment tools and customizable financial workflows. Its dashboard allows businesses to manage team permissions, automate payments, issue virtual cards, and separate funds across multiple accounts.
Mercury also integrates with widely used platforms, including QuickBooks, Stripe, Shopify, PayPal, and Xero. This makes it a good online business bank account for ecommerce companies, remote teams, and businesses processing a high volume of digital transactions.
The account is particularly appealing to businesses that send frequent electronic payments. Standard ACH transfers and domestic wires are free, and standard USD international wires are available without a Mercury fee, although intermediary banks may deduct fees from the recipient’s payment. Mercury also provides API access and expanded financial tools for businesses with more complex needs.
When to choose an alternative
Mercury may not be the best online business bank account for businesses that regularly deposit cash or need access to physical branches. It may also offer more financial workflow features than a small local or service-based business needs.
Mercury checking does not earn APY. If you want to earn interest directly on your checking balance, Bluevine or Grasshopper may be a better fit. Mercury Treasury also requires at least $250,000 across Mercury accounts, which puts it out of reach for businesses with smaller cash reserves.
Earn APY with Bluevine Standard or compare Grasshopper’s balance-based APY
Features
- Subaccounts can be opened to keep funds separated
- Mobile check deposit capabilities through the app
- Incoming domestic wires are free
- Options available for built-in invoicing
- Same-day ACH is available for a fee
- Debit card management and spending controls are available
Bluevine Standard terms
| Required opening deposit | None |
| Required minimum balance | None |
| Transaction limit before fees | Unlimited |
| Monthly fee | $0 |
| Domestic wire transfer fees |
|
| International wire transfer fees |
|
| ATM fees | None at MoneyPass locations; $2.50 plus operator fees for non-network ATM use |
| Cash deposited |
|
| APY |
|
| Other products available |
|
| Bluevine is a financial technology company, not a bank. Bluevine deposits are FDIC-insured through Coastal Community Bank, Member FDIC, and program banks. | |
When to choose Bluevine
Bluevine is a strong choice for business owners who want to earn interest directly on their checking balance. Bluevine Standard earns 1.30% APY on balances up to $250,000 and has no monthly fee or transaction limit. Businesses with larger balances can consider the Plus or Premier plans for higher APYs, although monthly fees and waiver requirements apply.
I also like Bluevine for businesses that want an online business bank account with payments, invoicing, subaccounts, and access to financing in one platform. Its business checking and lending products can be useful for growing companies that may need working capital, although financing is subject to eligibility and approval.
Bluevine is also a good fit for businesses that make frequent electronic payments. Standard ACH transfers are free, while same-day ACH and wire transfers are available for a fee.
When to choose an alternative
Bluevine may not be the best online business bank account for businesses that need more sophisticated permissions, integrations, or automated financial workflows. Mercury may be a stronger choice for digital businesses managing complex payments and multiple users.
Bluevine Standard allows up to five subaccounts, but businesses that want more extensive account segmentation may prefer Relay, which allows up to 20 checking accounts on its Starter plan. Bluevine may also be less practical for cash-heavy businesses because it has no branches and charges fees for cash deposits.
Open a Mercury account for digital financial workflows
Open multiple Relay accounts for cash-flow management
Grasshopper Accelerator Checking terms
| 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
Grasshopper Accelerator Checking is a strong online business bank account for companies that want to earn interest without paying a monthly fee. It earns 1.00% APY on balances below $25,000, 1.35% APY on balances from $25,000 to $250,000, and 1.00% APY on balances above $250,000. The account also offers unlimited 1% cash back on qualifying debit card purchases, subject to eligibility requirements.
Grasshopper is particularly useful for early-stage businesses and companies that want built-in financial tools. It offers unlimited transactions, free ACH transfers, invoicing, mobile check deposit, accounting software integrations, and team permissions.
Grasshopper works best for businesses that operate primarily online and do not need physical branches or a way to deposit cash.
When to choose an alternative
Grasshopper may not be the best fit if you need advanced cash flow organization. Although it offers interest and digital banking tools, it does not provide the same level of account segmentation as Relay. Relay lets you create multiple checking accounts for payroll, taxes, operating expenses, and other savings goals.
Choose nbkc if you prefer straightforward business checking with limited fees and some branch access in the Kansas City area. Novo may be a better choice for freelancers and ecommerce businesses that want payment integrations and tools for managing online income.
Open multiple Relay accounts for cash flow management
Features
- Free ACH transfers
- No charge for incoming wires
- Immediate processing of domestic wires
- No overdraft fees
- Exclusive partner discounts
- Integrates with Stripe, Shopify, Square, QuickBooks, Xero, and other business platforms
- Built-in fraud monitoring
- Create up to 20 Novo Reserves to organize money for taxes, payroll, and other expenses
- Earn up to 2% cash back on eligible debit card purchases
Novo Business Checking terms
| Required opening deposit | $0 |
| Required minimum balance | $0 |
| Transaction limit before fees | Unlimited |
| Monthly fee | $0 |
| Domestic wire transfer fees | Inbound: $0 Outbound: Up to $30 |
| International wire transfer fees | Only available through the third-party platform Wise; fees apply |
| ATM fees | Use any ATM nationwide and receive up to $7 reimbursement each statement cycle |
| Cash deposited | Cash deposits not accepted |
| APY | N/A |
| Other products available |
|
| Novo Platform Inc. (“Novo”) is a fintech, not a bank. Banking services provided by Middlesex Federal Savings, F.A., Member FDIC. Deposits are insured for up to $250,000 through our partner bank, Middlesex Federal Savings, Member FDIC. | |
When to choose Novo
Novo is a strong fit for freelancers, ecommerce sellers, and newer business owners who want uncomplicated online banking. It integrates with more than 40 business platforms, including Shopify, Stripe, Square, QuickBooks, and Xero, which can help business owners collect payments and keep their financial records organized.
Novo also works well for smaller businesses that want an online business bank account without monthly fees, minimum balance requirements, or standard transaction limits. Its built-in invoicing tools, up to $7 in monthly ATM fee reimbursements, and up to 20 Novo Reserves add value for solo operators and fully online businesses.
When to choose an alternative
Novo may not be the best fit for a growing company that needs granular team permissions, employee spending controls, or multiple independently owned checking accounts. Relay may be a stronger choice when detailed cash flow segmentation and team controls are priorities.
Novo also does not pay interest on checking balances or accept direct cash deposits. If earning APY is a priority, consider Bluevine or Grasshopper. If you regularly deposit cash or need branch access, nbkc may be a better fit.
Earn APY with Bluevine Standard or compare Grasshopper’s balance-based APY
Features
- Incoming domestic wires are free
- Free bill pay is included with online banking
- Create, send, and track invoices through Autobooks
- Mobile check deposits available through the app
- Access to over 90,000 ATMs globally
- Up to $12 refunded monthly in third-party ATM fees
- Application process does not impact credit score
nbkc Business Account terms
| Required opening deposit | $0 |
| Required minimum balance | $0 |
| Transaction limit before fees | Unlimited |
| Monthly fee | $0 |
| Domestic wire transfer fees | Inbound: $0 Outbound: $5 |
| International wire transfer fees | Inbound: $45 Outbound: $45 |
| ATM Fees | No nbkc fee at MoneyPass, Allpoint, or nbkc ATMs; up to $12 in monthly reimbursements for fees charged by other ATM operators |
| Cash deposited | Cash deposits are available at Kansas City branches and compatible cash deposit enabled MoneyPass and Allpoint ATMs; ATM operator fees and deposit limits may apply |
| APY | N/A |
| Other products available |
|
| nbkc, Member FDIC. | |
When to choose nbkc
nbkc is a strong option for business owners who want straightforward online banking without monthly fees, minimum balance requirements, or standard transaction limits. Unlike the fintech providers on this list, nbkc is an FDIC-insured bank. It also operates physical branches in the Kansas City area and supports cash deposits at its branches and compatible deposit enabled ATMs.
This online business bank account is also a good fit for businesses that want access to additional banking products. nbkc offers business money market and high-yield savings accounts, business credit cards, lines of credit, equipment financing, SBA loans, commercial real estate loans, and other lending options.
Open an nbkc account for straightforward banking with minimal fees
When to choose an alternative
nbkc may not be the best fit for businesses that need multiple checking accounts, granular employee permissions, or advanced cash flow automation. Relay is a stronger choice for businesses that want to divide funds among accounts for payroll, taxes, operating expenses, and other goals.
Novo may be a better option for freelancers and ecommerce businesses that rely on integrations with Shopify, Stripe, Square, and other digital platforms. Mercury may suit companies with more complex payment workflows, API needs, and approval controls.
Open multiple Relay accounts for cash flow management, or open a Novo account for ecommerce payments
Features
- Mobile check deposit
- Fee-free MoneyPass ATM access
- Real-time transaction notifications
- Standard ACH transfers
- Domestic and international wires
- Integrations with business software
- Linked business savings account
Lili Core Business Checking terms
| Required opening deposit | None |
| Required minimum balance | None |
| Transaction limit before fees | Unlimited |
| Monthly fee | None |
| Domestic wire transfer fees |
|
| International wire transfer fees |
|
| ATM fees | No charge at MoneyPass network; $2.50 fee for out-of-network fees + third-party fees may apply |
| Cash deposited | Available at participating Green Dot retailers; retailer fees may be up to $4.95, and deposit limits apply |
| APY | Linked savings earns 2.25% APY on balances up to $500,000 and 4.00% APY on the portion above $500,000 up to $1 million. Amounts above $1 million do not earn interest. Available with all Lili plans. |
| Other products available |
|
| Lili is a financial technology company, not a bank. Banking services are provided by Sunrise Banks, N.A., Member FDIC. The Lili Visa® Debit Card is issued by Sunrise Banks, N.A., Member FDIC, pursuant to a license from Visa U.S.A., Inc. The Card may be used everywhere Visa debit cards are accepted. | |
When to choose Lili
Lili Core is a strong choice for freelancers, independent contractors, and other business owners who want an online business bank account without a monthly fee or minimum balance requirement. Core includes business checking, a Visa debit card, software integrations, domestic and international wire capabilities, and access to a linked savings account.
The linked savings account is available with every Lili plan. It earns 2.25% APY on balances up to $500,000 and 4.00% APY on the portion above $500,000 up to $1 million. The checking balance itself does not earn interest.
Business owners who want additional tax and accounting assistance can upgrade to a paid plan. Automatic tax savings and expense categorization require Lili Pro or higher. Invoicing, automated bookkeeping, financial reports, and tax preparation tools require Lili Smart or Premium.
Open a Lili Core checking account and earn APY through linked savings.
When to choose an alternative
Lili may not be the best fit if you need multiple checking accounts for separating payroll, taxes, operating expenses, and other funds. Relay provides stronger account segmentation and cash flow controls.
Mercury may be a better choice for businesses that need more complex payment workflows, API access, and approval controls. Businesses that make frequent cash deposits may prefer nbkc because Lili cash deposits must be made through participating Green Dot retailers, where fees and deposit limits apply.
Open multiple Relay accounts for cash flow management.
How to choose the best online business bank account for your business
The best online business bank account should help reduce friction in your daily operations. While many online banking providers advertise similar benefits, the details behind those features can make a major difference once you start using the account.
Here are some of the most important features to evaluate before choosing an online business bank account:
Low or no monthly fees
Many providers advertise business checking with no monthly fee, but some still charge for wires, expedited ACH transfers, cash deposits, or premium tools. The best online business bank account should be transparent about costs and easy to maintain without complicated balance requirements.
Expected transaction volume
Review the account’s limits on ACH transfers, wires, bill payments, check deposits, and other transactions. A business with a high volume of payments should choose an account with generous limits and minimal transaction fees.
Wire transfer activity
Compare incoming and outgoing wire fees, transfer limits, delivery times, and international wire availability. These details are especially important if your business regularly pays vendors or receives customer payments by wire.
Strong integrations
An online business bank account should connect easily with accounting software, payment processors, ecommerce tools, and payroll platforms. Good integrations help reduce manual work and make bookkeeping easier.
Cash flow management tools
Features like subaccounts, savings buckets, budgeting categories, and real-time transaction tracking can make an online business bank account more useful for managing expenses and staying organized.
Team access and permissions
If multiple people manage business finances, look for an online business bank account with customizable permissions, approval controls, and employee debit card controls to help maintain visibility and security.
Cash deposits and branch access
Consider how often your business handles cash or needs in-person assistance. Some online providers do not accept cash, while others allow deposits through participating retailers or compatible ATMs for a fee. If you regularly deposit cash, need cash management services, or prefer face-to-face support, prioritize an account with convenient deposit options or branch access.
Interest earning potential
Some online business bank accounts allow you to earn APY on checking balances. Others offer APY only through a linked savings account or an upgraded plan. Review the balance and activity requirements before opening an account.
When an online business bank account may not be the right fit
While the best online business bank account can simplify financial management for many companies, online banking is not ideal for every business model. Some businesses still benefit from branch access or a traditional banking relationship.
An online business bank account may not be the best choice if your business:
- Makes frequent cash deposits
- Relies heavily on in-person banking services
- Needs a complex lending relationship
- Prefers face-to-face customer support
In some cases, business owners use both a traditional bank and an online business bank account. This hybrid setup provides access to modern digital tools while preserving access to physical banking services when needed.
Quick choice table
If you feel overwhelmed comparing providers, focus on how your business handles payments, cash flow, savings, and daily financial tasks. The best online business bank account should fit naturally into your workflow and make managing your finances easier.
Use this quick guide to narrow down the best online business bank for your needs.
| If this sounds like you | Recommended account and why | Next step |
| You want multiple accounts for organizing cash flow | Relay lets you divide funds among multiple checking accounts for payroll, taxes, operating expenses, and other goals. | Open multiple Relay accounts for cash flow management. |
| You manage complex digital payment workflows | Mercury offers API access, payment automation, approval controls, integrations, and support for multiple accounts. | Open a Mercury account for digital payment workflows. |
| You want to earn interest on checking | Bluevine Standard pays APY on eligible checking balances when activity requirements are met. Grasshopper uses balance-based APY tiers without a monthly fee. | Earn APY with Bluevine Standard or compare Grasshopper’s balance-based APY. |
| You are a freelancer or ecommerce seller | Novo offers invoicing, budgeting Reserves, and integrations with platforms such as Shopify, Stripe, Square, and QuickBooks. | Open a Novo account for ecommerce payments. |
| You want straightforward banking with minimal fees | nbkc has no monthly fee, minimum balance requirement, or standard transaction limit. It also accepts cash deposits and operates branches in the Kansas City area. | Open an nbkc account for straightforward banking with minimal fees. |
| You want tax organization tools | Lili offers automatic tax savings with Pro and accounting, invoicing, and tax preparation tools with Smart and Premium. Its free Core checking account provides a lower-cost starting point. | Open a Lili checking account and choose the tax tools your business needs. |
Frequently asked questions (FAQs)
What is the best online business bank account for small businesses?
Relay is my top choice for small businesses that want multiple checking accounts and stronger cash flow organization. However, the best online business bank account depends on how your business manages payments, savings, cash deposits, and daily financial tasks. Bluevine and Grasshopper are better for earning interest, while Novo is a strong choice for freelancers and ecommerce sellers.
Are online business bank accounts safe?
Online business bank accounts can be safe, but not every provider is itself an FDIC-insured bank. Some providers are fintech companies that place customer deposits with partner banks.
FDIC insurance protects eligible deposits if an insured bank fails. Pass-through coverage through a fintech depends on requirements such as proper account ownership and recordkeeping. Before opening an account, confirm the partner bank, coverage limit, and conditions that apply. The FDIC provides additional guidance for customers using third-party financial applications.
Can I use an online business bank account as my primary bank?
Yes, many businesses use an online business bank account as their primary business account. Online accounts can handle everyday tasks such as ACH transfers, bill payments, invoicing, and expense tracking. However, businesses that frequently handle cash or rely on in-person services may prefer a hybrid setup with both online and traditional banking.
Do online business bank accounts charge monthly fees?
Many online business bank accounts have no monthly maintenance fee, but some providers charge for premium features, outgoing wires, expedited transfers, or cash deposits. Review the complete fee schedule before opening an account.
What should I look for in an online business bank account?
Compare monthly fees, transaction limits, wire costs, cash deposit options, accounting integrations, team permissions, customer support, and branch availability. You should also determine whether APY applies to checking, a linked savings account, or only an upgraded plan.
Bottom line
Choose Relay for cash flow organization, multiple accounts, and envelope-style budgeting.
Open multiple Relay accounts for cash flow management
Choose Mercury for complex digital payment workflows, API access, and approval controls.
Open a Mercury account for digital payment workflows
Choose Bluevine or Grasshopper if earning interest on checking is your priority.
Earn APY with Bluevine Standard or compare Grasshopper’s balance-based APY
Choose Novo if you are a freelancer or ecommerce seller who wants invoicing and payment integrations.
Open a Novo account for ecommerce payments
Choose nbkc for straightforward banking with minimal fees, cash deposit options, and limited branch access.
Open an nbkc account for straightforward banking with minimal fees
Choose Lili for free Core checking with room to add paid tax and accounting tools.
Open a Lili Core checking account and add the tax tools your business needs
Open multiple Relay accounts for cash flow management
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