Top Business Checking Accounts for Your Company

Small business owners can keep their personal and business funds separate with a business checking account.

You need a checking or savings account to keep track of your bills and invoices, no matter what type of business you run. A checking account is also required to receive and deposit payments made by clients or customers. You will probably need a business debit card as well, which allows you to pay directly for business expenses.

Best business checking accounts allow you to easily create a “homebase” for your finances. You can use it to accept payments, manage payroll and take advantage of important banking services. Some of the top business checking accounts offer cash bonuses if you set up direct deposits, or maintain a minimum balance. Many of the best business checking accounts are available online. This means you can open a virtual account without leaving your house.

Best Business Checking Accounts for 2023

You have many things to consider as a business owner. You shouldn’t have to worry about your business checking account. We compared the top business checking account options available today in order to find those with the most features and benefits at the lowest (or no) fees.

Start your search for a new business checking account here.

Bonus of $300 when you open an account and perform certain activities
– Monthly variable fees waived if you have a qualifying minimum balance or qualify for qualifying activities
– Access to 16,000 ATMs at nearly 4,900 branches
Electronic Deposits are Unlimited

No hidden charges or account fees
Earn 1.0% APY up to $100,000 on your account
FDIC insured for at least $250,000.
Unlimited transactions
Live customer support
Transfer money to another account with ease

No hidden charges or account fees
No minimum balance required
Mobile app allows you to manage money, make transfers and pay bills while on the move.
Get all ATM fees reimbursed
-FDIC-insured

No monthly fees or minimum balance required
Access to over 3100 ATMs and 1100 branches of banks nationwide
Free 200 transactions per month

Earn.80% APR on your deposits if you maintain a minimum daily balance
Reimbursement of ATM fees for domestic transactions is unlimited
Minimum deposit of $100 required to start.
Get up to 50 transactions free per month

-Available at over 43,000 ATMs across the country without any fee
Most transactions are unlimited
No monthly service fees or minimum account balances
-Mobile deposit available

-A large ATM network of more than 39,000 machines available across the country
If you average a daily balance of more than $25,000, the $35 monthly fee is waived
Unlimitable transactions per month
Free online bill payment and business debit cards

-Qualify to receive 150 free transactions in a statement cycle ($.50 for each transaction after that)
Free Cash Deposits – -25 per statement cycle
Access to over 3,000 branches
Access U.S. Bank ATMs, MoneyPass and 7-Eleven participating stores.

Best Business Checking Reviews

Business checking accounts are a great way to offer small businesses perks and features without imposing any fees. These reviews will cover the best features of each checking account, including what each one offers in terms of checking features. They’ll also discuss monthly fees and how to avoid paying them.

Chase Business Checking

Chase business checking is a popular product among consumers because of its user-friendly features. You can currently get $300 when you sign up for a Chase Business Checking (r) account and perform qualifying activities. The requirements to receive the cash bonus, if you read the fine-print, are reasonable. You only need to open an account, make a deposit of at least $2,000 within 20 days and complete 5 debits or direct transfers within 60 days. You can claim the bonus once you have completed the qualifying activities, and maintained the balance for 60 days.

Chase Business Checking offers many other benefits, including convenient access to almost 4,900 branches and 16,000 ATMs nationwide, no-cost electronic deposits, online banking, bill payment, and 24/7 customer support. Chase Business Checking charges a variable monthly fee for business checking accounts. The conditions for waiving the fee differ by product.

Highlights:

Open a Chase Business Checking account and earn $300 when you do qualifying business activities.
With a qualifying minimum balance or with qualifying activities, the monthly variable fee is waived.
You can find 16,000 ATMs nationwide and nearly 4,900 branches of banks.
Electronic deposits are unlimited

BlueVine

BlueVine, a company well-known for its small business lending offers, also has a lucrative offer on business checking. The company offers unlimited transactions, live support and no hidden fees.

The first $100,000 of money you deposit in your BlueVine Business Checking account earns a 1.0% APY. This rate is only applicable to the first $100,000. This account comes with two free checkbooks, which you can use to pay bills and other expenses that aren’t easy to pay online. MoneyPass ATMs are available nationwide and you can access your money without charge. Your deposits are insured up to $250,000 by the FDIC.

Highlights:

No hidden charges or account fees
FDIC insured for at least $250,000.
Up to $100,000 can earn 1.0% APY
Live customer support and unlimited transactions
Transfer money to another account with ease

Novo

Novo provides small-business checking for entrepreneurs, freelancers, and business owners. No account fees or hidden charges are charged for the business checking account. There is also no minimum balance requirement to open or maintain an account.Novo reimburses your ATM fees nationwide so that you don’t need to drive around the city trying to find a networked ATM. Novo’s mobile app allows you to manage your money while on the move, as well as pay bills and send money.

You can also receive free ACH transfers and incoming wires. It only takes a few minutes to open an account. Your small-business checking account from Novo is also insured by the FDIC.

Highlights:

Minimum balance is not required
No monthly fees or hidden charges
You can manage your money, make transfers and pay bills using the mobile app
All ATM fees are reimbursed
FDIC-insured

Citizens Bank Clearly Better Business Checking

If you live near a Citizens Bank branch, you may also want to check out Citizens Bank Better Business Checking. No monthly fee is charged and there is no minimum balance required. Your first 200 transactions are free every month. This is enough for small businesses.

Citizens Bank’s downside is that it only has 1,100 branches in the United States and their business checking account is not available everywhere. Citizens Bank has over 3,100 ATMs that you can use without paying a fee. They also have their own app.

This business checking accounts is ideal for those who live near ATMs that qualify, make less than 200 transactions per month and don’t mind paying fees.

Highlights:

No minimum balance or monthly fees
You can find over 3100 ATMs and 1100 branches of banks nationwide
Every month, 200 transactions are free

Axos Business Interest Checking

The majority of business checking accounts do not offer interest on deposit. Axos Business Interest Checking It is one of the rare ones that do. This account offers.80% APY without any monthly fees, provided that you maintain a daily average balance of $5,000. Online and mobile banking is available, as well as bill payment and remote deposit options.

Axos Business Interest Checking also offers unlimited reimbursements for domestic ATM fees and the first 50 checks are free. Also, you get 50 transactions free per month (each additional transaction is $0.50) and 60 remote deposits per monthly. This account requires only an initial $100 deposit to open.

Highlights:

You can earn.80% on your deposits if you maintain a minimum daily balance.
Reimbursement of ATM fees in the United States and Canada
Minimum $100 deposit to start.
Enjoy up to 50 transactions free per month

BBVA USA Business Connect checking

BBVA USA’s Business Connect Checking is a checking account that makes it easy to do business banking online, on mobile devices and at ATMs. This account does not have monthly fees and no minimum balance requirement. All BBVA Compass ATMs, Allpoint and participating 7-11 ATMs are available to you, so no matter where in the world you live, you can easily access your money.

You can also qualify for a debit account that is linked to your checking account. This card comes at no extra cost. The majority of transactions are unlimited, but you can only make five withdrawals in branch or process five checks per month. This account can be opened with just $100.

Highlights:

You can use over 43,000 ATMs in the United States without paying a fee
The majority of transactions are unlimited
No minimum monthly charges or service fees
Mobile deposit available

Capital One Spark Business Checking

Capital One offers a popular business checking account. Capital one Spark Business Checking promises to “unlimit” your business with unlimited free transactions every month. You can also get your first five domestic wire transfers for free every month.

This account has a monthly service charge of $35. However, you can waive it if your average balance for the last 30 to 90 days is at least $25,000. Your account also comes with free online bill payment and debit cards. You’ll also have access to more than 39,000 Capital One and Allpoint ATMs across the country.

Highlights:

Wide ATM network of more than 39,000 ATMs available across the country
If you average a daily balance of more than $25,000, the $35 monthly fee is waived
Every month, you can make unlimited transactions
Online bill payment and business debit cards

U.S. Bank Business Silver Checking

Silver business checking from U.S. Bank can be a good account for any small business. This account offers 150 free transactions, 25 free cash deposit per statement cycle and remote check deposit.

There are no monthly fees for this account. It also includes mobile and online bill payment. U.S. Bank also has more than 3,000 branches, mostly located on the East Coast. If you live close to one, you can do some of your online banking.

Highlights:

You can get 150 transactions free per statement cycle (plus $0.50 per transaction).
Cash Deposits: 25 Free Cash Deposits per Statement Cycle
Over 3,000 branches are available to you
Access U.S. Bank ATMs, MoneyPass and 7-Eleven participating stores.

How to Choose the Best Business Checking Accounts

We didn’t just make this list up. We compared more than 30 different business checking accounts and based our top picks on these factors.

Pay Low or No Fees

We believe that these monthly fees should be avoided whenever possible. We only looked at business checking accounts with no monthly fees, or fees that can be avoided by qualifying activity. We made sure that the qualifying activity is “reasonable”, and achievable for small businesses.

Broad ATM Network

We chose business checking accounts that have a large ATM network because most business owners require an easy method to withdraw cash from their account. We also looked at banks that provide free debit cards to account holders, as this allows them to access their funds directly and make purchases.

Online and Mobile Access

You need a bank in today’s world that allows you to manage your account, pay bills and stay up-to-date with transactions while on the move. For this list, we only looked at banks that have a strong mobile and online presence. However, some brick-and-mortar banks also made it.

Limitations on transactions

The banks that made our list were also scrutinized for unreasonably high limits on transactions. We found that while some banks on our list limit transactions, their limits are reasonable for most business.

How to Choose the Best Business Checking account — A Guide for You

The business checking accounts on our list are all good, but you may find that a few would better suit your needs than others. Consider and compare these factors before signing up.

Local ATM Access

If you need to use your debit card to withdraw money, make sure that your bank has ATMs near where you live or your workplace. Although many banks have a large network, that does not mean they have an ATM in your locality. You can check on each bank’s website or ATM search page. You could end up paying more than you intended for foreign ATM fees if you don’t check to make sure that you will have access local ATMs.

Brick and Mortar Banks Branches

You can bank online or you prefer to visit a branch. You should ask yourself this question when comparing banks and their services. You can visit some of the brick-and-mortar locations to deposit money and ask questions. Some banks are primarily online.

Features and Functions

Consider banks that provide the features you want, such as a mobile app or remote deposit options. Our list of banks tends to have the most common features, but it’s still worth checking to ensure that your new business account allows you to bank in the way you prefer.

Maintenance fees

If you are considering an account that charges a monthly fee, you may be able get it waived if you meet a minimum balance or activity requirement. Monthly maintenance fees for business checking accounts are common, so you shouldn’t let them stop you from opening a new account. You should either be comfortable with the monthly maintenance fee, or you can easily waive it.

Limits on Transactions

The transaction limits of many business checking account are also a major issue. This is true especially for small businesses who make a lot of small transactions every month. Even small transaction fees, such as $.50 per transaction, can quickly add up.

This detail may not be important to you if your business has only a few transactions per month. You should still check your existing business checking account for an idea of the average number of debits and deposits your business needs each month. You can then choose a checking account for your business that allows you to make enough transactions each month.

Best Practices for Business Checking Accounts

You’re probably on the right path if you’re looking for a business checking account. Separate accounts for managing your business income, payments to vendors and other business transactions can help keep you organized. It can also give you access to powerful tools to help take your business to the top.

Use these tips to choose a business account.

1. To achieve your goals more quickly, use a business checking or savings account.

A business checking account will help you achieve your goals faster, no matter what they are for your small or start-up business. You can save time and earn interest by combining your business finances into a single account.

2. Separate business accounts are recommended for each business venture.

Consider whether opening additional business accounts makes sense if you have a second business idea, and don’t want to mix funds. Many business checking accounts do not charge any fees. This allows you to manage your account without paying extra.

3. Choose a credit card for your business that will work with your checking account.

Check if the bank that you are considering has a credit card for business. Many of the bigger banks offer this. Chase offers not only popular business accounts, but also rewards and travel cards for small businesses. These cards allow people to earn cash back on every dollar spent or flexible travel rewards.

4. Sign up for notifications and download the mobile app of your bank.

Consider downloading the mobile app of your bank if it has one. This will allow you to check your balance, upcoming bills and account balance while on the move. You can also sign up for notifications alerting you when your account balance drops or a deposit has been made.