Unlimited fee-free transactions; no overdraft fees.
Earn 1.30% interest on account balances up to and including $250,000. Terms apply.
Access up to $3 million in FDIC insurance with Insured Cash Sweep.
No fees at MoneyPass ATMs.
Account holders are assigned to a dedicated banker or customer support representative.
Bill pay tools and invoicing with built-in payment links.
Cons
No fee-free cash deposits.
Fee for using out-of-network ATMs.
Does not offer jointly-owned accounts.
Bluevine Business Checking offers pretty much everything we look for in a free business checking account: A competitive APY (1.30% on account balances up to and including $250,000; terms apply), unlimited fee-free transactions, free access to an ATM network, the ability to deposit cash (albeit for a fee) and checks. You’ll also get access to useful software tools, like accounts payable services and sub-accounts, to help you manage expenses.
What it lacks: Branches. Bluevine is a financial technology company; it partners with FDIC-insured Coastal Community Bank to provide banking services.
Read full review
Free cash deposits
No
Fees vary by location.
Bluevine Business Checking
Best for Online business banking
Best for Online business banking
APY
1.30%
With $0 min. balance for APY
Bonus
$500
Requirements to qualify
at Bluevine, Deposits are FDIC Insured
Pros
No monthly fees or minimum opening deposit.
Unlimited fee-free transactions; no overdraft fees.
Earn 1.30% interest on account balances up to and including $250,000. Terms apply.
Access up to $3 million in FDIC insurance with Insured Cash Sweep.
No fees at MoneyPass ATMs.
Account holders are assigned to a dedicated banker or customer support representative.
Bill pay tools and invoicing with built-in payment links.
Cons
No fee-free cash deposits.
Fee for using out-of-network ATMs.
Does not offer jointly-owned accounts.
Bluevine Business Checking offers pretty much everything we look for in a free business checking account: A competitive APY (1.30% on account balances up to and including $250,000; terms apply), unlimited fee-free transactions, free access to an ATM network, the ability to deposit cash (albeit for a fee) and checks. You’ll also get access to useful software tools, like accounts payable services and sub-accounts, to help you manage expenses.
What it lacks: Branches. Bluevine is a financial technology company; it partners with FDIC-insured Coastal Community Bank to provide banking services.
Read full review
Free cash deposits
No
Fees vary by location.
American Express® Business Checking
Best for 24/7 customer support
APY
1.30%
With $0 min. balance for APY
Bonus
30,000 points
Requirements to qualify
at American Express National Bank, Member FDIC
Pros
No monthly fees or minimum opening deposit.
No excess transaction fees and no charge for domestic incoming wires.
Earn 1.30% APY on balances up to $500,000.
24/7 customer support.
No fees on withdrawals at more than 70,000 MoneyPass and Allpoint ATMs in the U.S.
Cons
Can’t deposit cash.
No outgoing international wire transfers.
Does not offer jointly owned accounts.
The American Express Business Checking account ticks a lot of boxes for businesses seeking online banking, especially thanks to its 24/7 customer support via phone or the bank’s mobile app — customer support is often a top complaint among business owners using online accounts. AmEx’s account also offers a competitive APY (1.30% on balances up to $500,000) and fee-free access to more than 70,000 MoneyPass and Allpoint ATMs.
The key drawback: American Express Business Checking does not accept cash deposits.
Read full review
American Express® Business Checking
Best for 24/7 customer support
Best for 24/7 customer support
APY
1.30%
With $0 min. balance for APY
Bonus
30,000 points
Requirements to qualify
at American Express National Bank, Member FDIC
Pros
No monthly fees or minimum opening deposit.
No excess transaction fees and no charge for domestic incoming wires.
Earn 1.30% APY on balances up to $500,000.
24/7 customer support.
No fees on withdrawals at more than 70,000 MoneyPass and Allpoint ATMs in the U.S.
Cons
Can’t deposit cash.
No outgoing international wire transfers.
Does not offer jointly owned accounts.
The American Express Business Checking account ticks a lot of boxes for businesses seeking online banking, especially thanks to its 24/7 customer support via phone or the bank’s mobile app — customer support is often a top complaint among business owners using online accounts. AmEx’s account also offers a competitive APY (1.30% on balances up to $500,000) and fee-free access to more than 70,000 MoneyPass and Allpoint ATMs.
The key drawback: American Express Business Checking does not accept cash deposits.
Read full review
Relay Business Checking
Best for Expense management tools
at Relay, Deposits are FDIC Insured
Pros
No required monthly fee or minimum balance requirement.
Unlimited fee-free transactions; no overdraft fees.
No foreign transaction fees when you use your Relay Visa® Debit abroad.
Free incoming wires and low outgoing wire transfer fees.
Up to 50 debit cards.
Direct integration with Shopify.
Cons
Deposited checks may be held for up to 6-7 business days.
No bill pay feature in the free plan.
Relay’s free online business checking account comes with several features that benefit midsize businesses and growing startups, including the option to open multiple accounts (up to 20; 10 for sole proprietorships) and ability to invite team members, assign roles and permissions, and set spending limits.
Relay has no monthly fees, includes unlimited fee-free transactions and free incoming wires, and allows for direct integrations with QuickBooks Online and Xero.
One downside: Deposited checks may have long hold times — potentially six to seven business days.
Read full review
Relay Business Checking
Best for Expense management tools
Best for Expense management tools
at Relay, Deposits are FDIC Insured
Pros
No required monthly fee or minimum balance requirement.
Unlimited fee-free transactions; no overdraft fees.
No foreign transaction fees when you use your Relay Visa® Debit abroad.
Free incoming wires and low outgoing wire transfer fees.
Up to 50 debit cards.
Direct integration with Shopify.
Cons
Deposited checks may be held for up to 6-7 business days.
No bill pay feature in the free plan.
Relay’s free online business checking account comes with several features that benefit midsize businesses and growing startups, including the option to open multiple accounts (up to 20; 10 for sole proprietorships) and ability to invite team members, assign roles and permissions, and set spending limits.
Relay has no monthly fees, includes unlimited fee-free transactions and free incoming wires, and allows for direct integrations with QuickBooks Online and Xero.
One downside: Deposited checks may have long hold times — potentially six to seven business days.
Read full review
U.S. Bank Business Essentials
Best for Brick-and-mortar banking
Bonus
$400
Requirements to qualify
Best free account
at U.S. Bank, Member FDIC
Pros
No monthly service fee.
Welcome bonus for new customers (terms apply).
Unlimited fee-free electronic and debit card transactions.
Supports Zelle for Business.
Account holders are assigned to a dedicated banker or customer support representative.
Accept payments with free mobile card reader, no monthly software fee. Processing fees apply.
Cons
$100 minimum opening deposit.
Low limit on fee-free cash deposits.
Fee for using out-of-network ATMs.
High overdraft, wire transfer fees.
$1 fee for outgoing domestic ACH transfers.
It’s unusual to find a free business checking account from a big brick-and-mortar bank, but that’s what you’ll get with this U.S. Bank business account. You can open an account online, by phone or in person — U.S. Bank has more than 2,000 branches across 26 states.
While the account does not have a monthly service fee, U.S. Bank does still charge for overdrafts, ACH transfers and wire transfers.
Read full review
Free cash deposits
Yes
Up to 250 free cash deposit units per statement cycle.
U.S. Bank Business Essentials
Best for Brick-and-mortar banking
Best for Brick-and-mortar banking
Bonus
$400
Requirements to qualify
Best free account
at U.S. Bank, Member FDIC
Pros
No monthly service fee.
Welcome bonus for new customers (terms apply).
Unlimited fee-free electronic and debit card transactions.
Supports Zelle for Business.
Account holders are assigned to a dedicated banker or customer support representative.
Accept payments with free mobile card reader, no monthly software fee. Processing fees apply.
Cons
$100 minimum opening deposit.
Low limit on fee-free cash deposits.
Fee for using out-of-network ATMs.
High overdraft, wire transfer fees.
$1 fee for outgoing domestic ACH transfers.
It’s unusual to find a free business checking account from a big brick-and-mortar bank, but that’s what you’ll get with this U.S. Bank business account. You can open an account online, by phone or in person — U.S. Bank has more than 2,000 branches across 26 states.
While the account does not have a monthly service fee, U.S. Bank does still charge for overdrafts, ACH transfers and wire transfers.
Read full review
Free cash deposits
Yes
Up to 250 free cash deposit units per statement cycle.
Grasshopper Innovator Business Checking Account
Best for 1% cash back on debit card purchases
APY
1.55%
With $25,000 min. balance for APY
Bonus
N/A
Cash back on debit
at Grasshopper Bank, Member FDIC
Pros
Unlimited 1% cash back on qualified debit card purchases.
Earn up to 1.55% APY.
No monthly fees, transaction fees or overdraft charges.
Free, built-in bookkeeping and invoicing software.
Free incoming domestic wires; low fees on other wire transfers.
Cons
Can’t deposit cash.
$100 minimum opening deposit.
No weekend support.
Grasshopper bank’s free business checking account includes two features rarely offered in tandem on business checking accounts: unlimited 1% cash back on qualified debit card purchases and up to 1.55% APY. Plus, the account includes unlimited transactions, free incoming wires and fee-free access to an ATM network.
Grasshopper business customers get free, built-in access to Autobooks, as well as business tools like invoicing and cash management. That helps make it one of our best banks for startups.
Like some other online-only accounts, however, Grasshopper business checking accounts do not support cash deposits.
Read full review
Grasshopper Innovator Business Checking Account
Best for 1% cash back on debit card purchases
Best for 1% cash back on debit card purchases
APY
1.55%
With $25,000 min. balance for APY
Bonus
N/A
Cash back on debit
at Grasshopper Bank, Member FDIC
Pros
Unlimited 1% cash back on qualified debit card purchases.
Earn up to 1.55% APY.
No monthly fees, transaction fees or overdraft charges.
Free, built-in bookkeeping and invoicing software.
Free incoming domestic wires; low fees on other wire transfers.
Cons
Can’t deposit cash.
$100 minimum opening deposit.
No weekend support.
Grasshopper bank’s free business checking account includes two features rarely offered in tandem on business checking accounts: unlimited 1% cash back on qualified debit card purchases and up to 1.55% APY. Plus, the account includes unlimited transactions, free incoming wires and fee-free access to an ATM network.
Grasshopper business customers get free, built-in access to Autobooks, as well as business tools like invoicing and cash management. That helps make it one of our best banks for startups.
Like some other online-only accounts, however, Grasshopper business checking accounts do not support cash deposits.
Read full review
Mercury Business Bank Account
Best for Free wire transfers
Bonus
$300
Requirements to qualify
at Mercury, Deposits are FDIC Insured
Pros
No monthly fees or minimum opening deposit.
Unlimited fee-free U.S. dollar transactions; no overdraft fees.
Free domestic and international U.S. dollar wire transfers.
Advanced digital tools including API access to automate and customize your banking.
Unlimited refunds on all domestic ATM fees.
Cons
Can’t deposit cash.
Mercury is not part of a fee-free ATM network.
Mercury is a free online banking platform that’s designed for startups. Mercury includes a free business checking account along with a business savings account and the option to open a treasury account to earn a yield on excess cash (its savings account doesn’t earn interest). Mercury also has no wire transfer fees when sending or receiving U.S. dollars and does not charge to send or receive checks.
The platform offers built-in digital tools that allow you to track and manage your payments and expenses, create virtual debit cards and corporate credit cards and manage employee spending.
Read full review
Mercury Business Bank Account
Best for Free wire transfers
Best for Free wire transfers
Bonus
$300
Requirements to qualify
at Mercury, Deposits are FDIC Insured
Pros
No monthly fees or minimum opening deposit.
Unlimited fee-free U.S. dollar transactions; no overdraft fees.
Free domestic and international U.S. dollar wire transfers.
Advanced digital tools including API access to automate and customize your banking.
Unlimited refunds on all domestic ATM fees.
Cons
Can’t deposit cash.
Mercury is not part of a fee-free ATM network.
Mercury is a free online banking platform that’s designed for startups. Mercury includes a free business checking account along with a business savings account and the option to open a treasury account to earn a yield on excess cash (its savings account doesn’t earn interest). Mercury also has no wire transfer fees when sending or receiving U.S. dollars and does not charge to send or receive checks.
The platform offers built-in digital tools that allow you to track and manage your payments and expenses, create virtual debit cards and corporate credit cards and manage employee spending.
Read full review
Found Small Business Banking
Best for Self-employed workers
Bonus
$125
Requirements to qualify
at Found, Deposits are FDIC Insured
Pros
No required monthly fee or minimum opening deposit.
No excess transaction fees or overdraft fees; free incoming domestic wires.
Free, built-in invoicing, bookkeeping and tax-planning features.
Integrates with popular business and gig work apps, including Stripe, DoorDash, Uber, Etsy and PayPal.
Account holders are assigned to a dedicated banker or customer support representative.
Built-in payroll features for contractors.
Cons
No weekend or after-hours phone support.
Not available to partnerships or nonprofit organizations.
No fee-free cash deposits.
The Found business account offers more than just free business checking. You’ll also get built-in invoicing, bookkeeping and tax-planning tools, so you can generate profit and loss reports, automatically save for business taxes and schedule recurring invoices. Found integrates with popular business and gig work apps, like Stripe, Square, Uber, PayPal and Lyft, and you can use the platform to pay contractors working in your business.
Make sure to review Found’s deposit and transfer limits before applying, as these can be low compared with competitors. Found is also not available to businesses organized as partnerships.
Read full review
Found Small Business Banking
Best for Self-employed workers
Best for Self-employed workers
Bonus
$125
Requirements to qualify
at Found, Deposits are FDIC Insured
Pros
No required monthly fee or minimum opening deposit.
No excess transaction fees or overdraft fees; free incoming domestic wires.
Free, built-in invoicing, bookkeeping and tax-planning features.
Integrates with popular business and gig work apps, including Stripe, DoorDash, Uber, Etsy and PayPal.
Account holders are assigned to a dedicated banker or customer support representative.
Built-in payroll features for contractors.
Cons
No weekend or after-hours phone support.
Not available to partnerships or nonprofit organizations.
No fee-free cash deposits.
The Found business account offers more than just free business checking. You’ll also get built-in invoicing, bookkeeping and tax-planning tools, so you can generate profit and loss reports, automatically save for business taxes and schedule recurring invoices. Found integrates with popular business and gig work apps, like Stripe, Square, Uber, PayPal and Lyft, and you can use the platform to pay contractors working in your business.
Make sure to review Found’s deposit and transfer limits before applying, as these can be low compared with competitors. Found is also not available to businesses organized as partnerships.
Read full review
nbkc Business Account
Best for Simple online banking
Bonus
$250
Requirements to qualify
at nbkc bank, Member FDIC
Pros
No monthly fees or minimum opening deposit.
Unlimited fee-free transactions, no overdraft fees and free incoming domestic wires.
Up to $12 in monthly refunds for ATM fees charged by other banks worldwide.
Unlimited cash deposits via MoneyPass and Allpoint ATMs.
Accept contactless payments via the NBKC app (iOS only). Fees apply.
Unlimited debit cards.
Cons
High fee ($45) for international wire transfers.
Phone support only available during business hours.
No third-party app integrations.
NBKC’s Business Account is a free business checking account with very few fees, but few bells and whistles. This account includes unlimited transactions, fee-free ATM access through the MoneyPass and Allpoint networks (with the ability to deposit cash) and up to $12 in monthly refunds for ATM fees charged by other banks worldwide.
Additionally, there are no incoming domestic wire fees, overdraft, stop payment or other similar incidental fees with the NBKC business checking account. Outgoing domestic wires cost just $5.
If you want add-on software, you can subscribe to Autobooks via NBKC for $10 per month. That service offers invoicing with payment links, tap-to-pay acceptance and basic accounting reports.
Read full review
nbkc Business Account
Best for Simple online banking
Best for Simple online banking
Bonus
$250
Requirements to qualify
at nbkc bank, Member FDIC
Pros
No monthly fees or minimum opening deposit.
Unlimited fee-free transactions, no overdraft fees and free incoming domestic wires.
Up to $12 in monthly refunds for ATM fees charged by other banks worldwide.
Unlimited cash deposits via MoneyPass and Allpoint ATMs.
Accept contactless payments via the NBKC app (iOS only). Fees apply.
Unlimited debit cards.
Cons
High fee ($45) for international wire transfers.
Phone support only available during business hours.
No third-party app integrations.
NBKC’s Business Account is a free business checking account with very few fees, but few bells and whistles. This account includes unlimited transactions, fee-free ATM access through the MoneyPass and Allpoint networks (with the ability to deposit cash) and up to $12 in monthly refunds for ATM fees charged by other banks worldwide.
Additionally, there are no incoming domestic wire fees, overdraft, stop payment or other similar incidental fees with the NBKC business checking account. Outgoing domestic wires cost just $5.
If you want add-on software, you can subscribe to Autobooks via NBKC for $10 per month. That service offers invoicing with payment links, tap-to-pay acceptance and basic accounting reports.
Read full review
Axos Bank® Basic Business Checking
Best for ATM fee refunds
Bonus
$200
Requirements to qualify
at Axos Bank®, Member FDIC
Pros
No monthly fees or minimum opening deposit.
Unlimited fee-free transactions and free incoming wires.
Automatic refunds of all ATM fees (domestic).
Cash deposits via Allpoint ATMs.
Welcome bonus for new customers (terms apply).
Cons
$25 fee for insufficient funds/uncollected funds returned.
No third-party app integrations.
Axos Bank’s Basic Business Checking offers unlimited transactions, plus cash deposits via Allpoint+ ATMs. The bank also offers free nationwide ATM access with unlimited refunds for fees charged by other banks and ATM operators in the U.S.
Unlike some online business checking accounts, whose banking services are provided and insured by other financial institutions, Axos Bank is a Federal Deposit Insurance Corp.-insured institution and provides all of its business banking products and services directly.
Read full review
Axos Bank® Basic Business Checking
Best for ATM fee refunds
Best for ATM fee refunds
Bonus
$200
Requirements to qualify
at Axos Bank®, Member FDIC
Pros
No monthly fees or minimum opening deposit.
Unlimited fee-free transactions and free incoming wires.
Automatic refunds of all ATM fees (domestic).
Cash deposits via Allpoint ATMs.
Welcome bonus for new customers (terms apply).
Cons
$25 fee for insufficient funds/uncollected funds returned.
No third-party app integrations.
Axos Bank’s Basic Business Checking offers unlimited transactions, plus cash deposits via Allpoint+ ATMs. The bank also offers free nationwide ATM access with unlimited refunds for fees charged by other banks and ATM operators in the U.S.
Unlike some online business checking accounts, whose banking services are provided and insured by other financial institutions, Axos Bank is a Federal Deposit Insurance Corp.-insured institution and provides all of its business banking products and services directly.
Read full review
North One Standard Business Checking
Best for High APY
APY
2.50%
With $0 min. balance for APY
at North One, Deposits are FDIC Insured
Pros
No monthly fees or excess transaction fees.
Same-day deposits from Amazon, Cash App, Square, Stripe and Venmo. Direct payments supported from a variety of other business platforms, including Etsy, Lyft, Shopify and Airbnb.
Sub-accounts that you can use to save for specific goals.
Direct integration with Shopify, Etsy and Amazon.
Account holders are assigned to a dedicated banker or customer support representative.
Cons
Low cash deposit limits ($1,500 per day, $5,000 per month). Service fee of up to $4.95 per deposit.
Can’t send or receive international wires.
No weekend customer support.
Not available to nonprofit organizations.
No spend controls on employee debit cards.
North One’s free online business checking account offers an industry-leading 2.50% APY on all balances.
This account is a particularly good choice for e-commerce businesses, since it supports same-day deposits from Amazon, Cash App, Square, Stripe and Venmo and direct payments from a variety of other business platforms, including Etsy, Lyft, Shopify and Airbnb. That can help you get funds into your account — so they can start earning interest — faster.
Key drawbacks: No cash deposits or fee-free ATM network. International wires aren’t supported, either.
Read full review
Free cash deposits
No
NorthOne does not accept cash deposits
North One Standard Business Checking
Best for High APY
Best for High APY
APY
2.50%
With $0 min. balance for APY
at North One, Deposits are FDIC Insured
Pros
No monthly fees or excess transaction fees.
Same-day deposits from Amazon, Cash App, Square, Stripe and Venmo. Direct payments supported from a variety of other business platforms, including Etsy, Lyft, Shopify and Airbnb.
Sub-accounts that you can use to save for specific goals.
Direct integration with Shopify, Etsy and Amazon.
Account holders are assigned to a dedicated banker or customer support representative.
Cons
Low cash deposit limits ($1,500 per day, $5,000 per month). Service fee of up to $4.95 per deposit.
Can’t send or receive international wires.
No weekend customer support.
Not available to nonprofit organizations.
No spend controls on employee debit cards.
North One’s free online business checking account offers an industry-leading 2.50% APY on all balances.
This account is a particularly good choice for e-commerce businesses, since it supports same-day deposits from Amazon, Cash App, Square, Stripe and Venmo and direct payments from a variety of other business platforms, including Etsy, Lyft, Shopify and Airbnb. That can help you get funds into your account — so they can start earning interest — faster.
Key drawbacks: No cash deposits or fee-free ATM network. International wires aren’t supported, either.
Read full review
Free cash deposits
No
NorthOne does not accept cash deposits
Lili Basic Business Checking
Best for Early access to payments
at Lili, Deposits are FDIC Insured
Pros
No monthly fees, transaction fees or incoming wire fees.
No fees at MoneyPass ATMs.
Cash deposits via Green Dot network (fees and limits apply).
Early payment feature allows you to receive funds up to two days sooner than with a traditional bank account.
Direct integrations with Square, Shopify, Etsy and eBay.
Cons
Fee for using out-of-network ATMs.
No fee-free cash deposits.
Bill pay not included; must upgrade to Lili Smart or higher.
Not available to nonprofit organizations.
No spend controls on employee debit cards.
When a customer pays you via ACH transfer, Lili says it can make those funds available in your account within 1-3 days instead of 3-5 days. The free account also has an automatic saving feature to help build your emergency fund.
If you upgrade to one of Lili’s paid plans, which start at $9 per month, you’ll get access to tools that can help with tax planning, invoicing, expense reports and more.
Read full review
Free cash deposits
No
Fee of up to $4.95 per cash deposit.
Lili Basic Business Checking
Best for Early access to payments
Best for Early access to payments
at Lili, Deposits are FDIC Insured
Pros
No monthly fees, transaction fees or incoming wire fees.
No fees at MoneyPass ATMs.
Cash deposits via Green Dot network (fees and limits apply).
Early payment feature allows you to receive funds up to two days sooner than with a traditional bank account.
Direct integrations with Square, Shopify, Etsy and eBay.
Cons
Fee for using out-of-network ATMs.
No fee-free cash deposits.
Bill pay not included; must upgrade to Lili Smart or higher.
Not available to nonprofit organizations.
No spend controls on employee debit cards.
When a customer pays you via ACH transfer, Lili says it can make those funds available in your account within 1-3 days instead of 3-5 days. The free account also has an automatic saving feature to help build your emergency fund.
If you upgrade to one of Lili’s paid plans, which start at $9 per month, you’ll get access to tools that can help with tax planning, invoicing, expense reports and more.
Read full review
Free cash deposits
No
Fee of up to $4.95 per cash deposit.
Navy Federal Credit Union Business Checking
Best for Military-affiliated entrepreneurs
APY
0.01%
With $0 min. balance for APY
Pros
No monthly fees.
Unlimited fee-free electronic transactions and free incoming wires.
No dollar limit on cash deposits (other limits may apply).
24/7 customer service.
No fees to deposit cash at Navy Federal or Co-Op Network ATMs.
Cons
High opening deposit (up to $255).
$29 fee for overdrafts, insufficient funds.
Eligibility limited to veterans, military members, Department of Defense employees and their families.
Does not offer jointly owned accounts.
No spend controls on employee debit cards.
Navy Federal Credit Union offers a free business checking account to qualifying members. Business owners can join Navy Federal Credit Union if they have served in a branch of the U.S. armed forces (either active duty or as a reservist), if they have worked for the Department of Defense or as a contractor, or if they are immediate family of someone who meets the above criteria for membership.
This account also includes unlimited fee-free transactions and 30 fee-free non-electronic transactions per month, free starter checks and 24/7 customer support.
Read full review
Navy Federal Credit Union Business Checking
Best for Military-affiliated entrepreneurs
Best for Military-affiliated entrepreneurs
APY
0.01%
With $0 min. balance for APY
Pros
No monthly fees.
Unlimited fee-free electronic transactions and free incoming wires.
No dollar limit on cash deposits (other limits may apply).
24/7 customer service.
No fees to deposit cash at Navy Federal or Co-Op Network ATMs.
Cons
High opening deposit (up to $255).
$29 fee for overdrafts, insufficient funds.
Eligibility limited to veterans, military members, Department of Defense employees and their families.
Does not offer jointly owned accounts.
No spend controls on employee debit cards.
Navy Federal Credit Union offers a free business checking account to qualifying members. Business owners can join Navy Federal Credit Union if they have served in a branch of the U.S. armed forces (either active duty or as a reservist), if they have worked for the Department of Defense or as a contractor, or if they are immediate family of someone who meets the above criteria for membership.
This account also includes unlimited fee-free transactions and 30 fee-free non-electronic transactions per month, free starter checks and 24/7 customer support.
Read full review
Jump to
Other free business checking accounts
NerdWallet’s editorial team rates more than 50 business checking accounts. We focus on accounts from the largest U.S. banks by assets and the largest U.S. credit unions by membership.
I chose to exclude some accounts with high ratings that aren’t available to the majority of business owners, like Brex. I also included some with relatively lower ratings, like Lili, since they offer something unique.
Here are all the other banks, credit unions and fintech companies we monitor that have free business checking accounts:
🏦 Banks and fintech companies NerdWallet covers with free business accounts
America First Credit Union.
Blue Federal Credit Union.
Boeing Employees Credit Union.
Brex.
Citizens Bank.
Comercia Bank.
Consumers Credit Union.
Digital Federal Credit Union (DCU).
Fifth Third Bank.
First Citizens Bank.
First Horizon Bank.
First Internet Bank.
Flagstar Bank.
Holdings.
Huntington Bank.
Northern Bank.
Novo.
QuickBooks.
Rho.
Square.
Truist.
🏦 State-by-state list of other banks with free business accounts
What other fees do business bank accounts charge?
Even if your business checking account has no monthly fee, you’ll still have to pay for other banking services. Most banks charge you for using out-of-network ATMs, sending wire transfers, depositing more than a certain amount of cash and other types of transactions.
Before you open an account, ask your potential bank for a copy of its fee schedule. Then check to see whether those costs line up with the standard ones below.
💸 Transaction fees
Most banks allow you to make at least 100 transactions (either electronic, in-person or both) each month. Transaction fees tend to be pretty small — generally around 50 cents apiece — but they can add up over time. Unlimited fee-free transactions are ideal. American Express and Relay both offer that.
💸 Overdraft fees
Overdraft fees kick in if you try to spend more money than you have in your account. They usually cost between $30 and $35 per overdraft. Some banks, like Huntington and Chase, allow you a grace period of up to 24 hours or up to around $50 before you’re charged.
Some online-only neobanks don’t allow overdrafts at all. If you don’t have sufficient funds, your purchase just won’t go through. But you won’t be charged a fee either.
💸 ATM fees
Nearly all business banks provide fee-free access to ATMs affiliated with the bank or with an ATM network, like MoneyPass or Allpoint. Need to use an out-of-network ATM? That ATM will most likely charge you a fee. Your bank may or may not charge another one.
Axos offers the best-case scenario. They refund out-of-network ATM fees, allowing you to withdraw cash virtually anywhere for free. But if your bank has several ATMs that are convenient to where you live and work, you should be able to go to an in-network ATM for free most of the time.
💸 Cash deposit fees
Most banks limit how much cash you can deposit per day or per month for free. After you reach that limit — which is often around $5,000 per month — your bank may charge a small volume-based fee, such as 10 cents for every $100 over the limit. Some banks also charge transaction fees for each deposit.
Some brick-and-mortar banks only charge for deposits with a bank teller. You can make unlimited deposits at ATMs. That’s the case with Capital One and Chase (though neither bank offers a free account).
💸 Wire transfer fees
Wire transfer fees are common. Most banks charge fees for both sending and receiving wires, and fees tend to be higher for international wire transfers. Free wires are a rare perk — so if they’re a top priority for your business, prioritize them in your search. For example, Mercury offers free domestic and international wire transfers in U.S. dollars (a 1% currency exchange fee applies to transfers not in U.S. dollars).
How to waive the monthly fee on a business checking account
Entry-level business checking accounts at brick-and-mortar banks usually have monthly fees of $10 to $15. Often, if you keep a certain amount of money in your account or meet certain activity requirements, the bank will waive that fee.
That might be easy. For example, BMO charges $10 per month for its Simple Business Checking account. It waives that fee when you keep an average balance of $100 or more. And Mountain America Credit Union waives the $5 fee on its Business Essential Checking account if you enroll in e-statements.
If your business has steady cash flow and you’ll typically meet the necessary requirements, it’s worth considering these banks. That’s especially true if you’re thinking ahead to getting a business loan. If you already have an account with a bank, they may be more open to lending to you.
When should you upgrade to an account with a monthly fee?
Brick-and-mortar banks usually have a few business checking accounts at different price points. Higher monthly fees usually come with higher transaction limits and lower fees on other services, like wire transfers.
Some online banks have free accounts, but offer extra software features if you pay a monthly subscription fee. Bluevine, for instance, ups your APY and lowers your wire and ACH transfer fees when you upgrade.
Fees for premium accounts generally start around $30. Most banks will waive these fees if you maintain a higher minimum balance. My recommendation: Start with the free account and use it for a few months. If you want more advanced software tools or need a higher transaction limit after that, consider upgrading. If you’re consistently meeting the higher minimum balance requirement, it’s likely worth it. If not, add up the fee savings or use our compound interest calculator to see if the perks offset the cost.
Why are so many free business accounts from online banks?
Most online banks and neobanks offer free business checking accounts. In part, that’s because they have lower overhead by not operating branches. Unfortunately many also reduce overhead in other ways, like limiting customer support.
Brick-and-mortar banks tend to charge monthly fees, even for their entry-level accounts. In exchange, you get access to branches and, in general, more responsive customer service. Banks will usually offer to waive those monthly fees if you maintain a certain average balance or transact often enough.
🙋 Are online banks safe?
Online banks aren’t less safe or secure than brick-and-mortar banks, as long as they offer security measures like fraud alerts and two-factor authentication.
Beyond that, insurance from the Federal Deposit Insurance Corp. protects customer funds at all the institutions NerdWallet recommends. If the bank holding your cash fails, the FDIC promises to cover up to $250,000 per depositor, per institution.
There’s one wrinkle when it comes to neobanks. These are tech companies, like Bluevine, Relay and Found, that focus on software tools. They partner with FDIC-insured banks for banking services, and those partner banks actually hold your funds.
If one of those fintech companies were to go under, customer funds should be safe in the partner bank’s coffers. But account holders could have to deal with the headaches of locating and moving your funds. It can be wise to keep an emergency fund at a different bank to avoid that kind of cash flow interruption.
Notes from NerdWallet partners
Lili is a financial technology company, not a bank. Banking services provided by Sunrise Banks N.A., Member FDIC.
Relay is a financial technology company, not a bank. Banking services provided by Thread Bank, Member FDIC. The Relay Visa Debit Card is issued by Thread Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used anywhere Visa cards are accepted.
Found is a financial technology company, not a bank. Banking services are provided by Lead Bank, Member FDIC.
Note on American Express® Business Checking : At Allpoint® and MoneyPass® locations in the U.S., you can withdraw cash and get balance information with no fee. Access to ATMs outside of the Allpoint® and MoneyPass® networks are subject to fees by the ATM owner and/or network. ATM withdrawal limits apply. American Express applies foreign exchange fees to withdrawals in foreign currencies. American Express does not accept ATM cash deposits into your Business Checking account at this time. Visit americanexpress.com/atm-locator to find participating ATMs in the U.S.
Last updated on October 22, 2025
Frequently Asked Questions
Most online banks and business accounts offer free business checking, including Relay, NBKC, Axos and American Express. Free small-business checking accounts are available from local, national and regional banks, too, including:
Scroll up for a state-by-state breakdown of banks that offer free business checking accounts.
Methodology
NerdWallet evaluates more than 50 business bank accounts from national, regional and online banks. Collectively, these accounts represent the largest banks by assets and the largest credit unions by membership, along with notable and emerging fintech companies and online banks.
We consider more than 20 data points for each account, including services, fees, features and rewards. We gather this information from rates and fees documents, deposit account agreements, financial institution websites and company representatives.
Our editorial team regularly reviews and updates our data to ensure consistency and accuracy. We also update our scoring on an ongoing basis to reflect changing industry norms and business owner needs. For instance, in 2025, we introduced bonus points for notable built-in software features, like the ability to accept tap-to-pay payments from customers using a mobile app.
Final star ratings are presented on a scale of one to five stars, where a five-star score represents the best available product for the largest number of business owners. Learn more about how we rate business checking accounts.
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