Best Business Checking Accounts Of June 2023

Founded in 1999, nbkc bank is a Kansas-based online bank with only four physical branches, all located in Kansas and Missouri. The nbkc bank Business Account is the bank’s only business checking offering and it prides itself on the account’s general lack of fees.

There is no minimum deposit requirement and no monthly maintenance fee, which can be found at other banks. However, nbkc takes things even further: There are no overdraft or non-sufficient funds fees, no fees for generating electronic statements and no fees for stop payments or for bill pay services.

nbkc bank offers a complimentary debit Mastercard, which can be used surcharge-free at more than 37,000 MoneyPass ATMs across the U.S. and Puerto Rico. If you need to use an out-of-network ATM that charges a fee, nbkc refunds up to $12 per statement period.

In addition to a great checking account, nbkc bank offers business savings deposit accounts—both money market accounts and certificates of deposit (CDs)—four business credit cards, business loans and lines of credit, and business solutions including cash management, fraud management, collections and disbursement services.

Read our full nbkc bank Business Checking Review.

Details

nbkc bank offers a single mobile app that can accommodate both business and personal banking.

TIAA Bank, based in Florida, is a division of TIAA, FSB, a global leader in the financial services space with a long history of service to educators and others. TIAA Bank offers robust business checking services, savings deposit accounts and treasury services.

TIAA Bank Small Business Checking is designed specifically for the sole proprietor and single-member limited liability company (LLC). This is an interest-bearing checking account, which pays 0.10% APY on all balances. The minimum deposit to open a Small Business Checking account is $1,500 and there is no monthly maintenance fee.

You have surcharge-free ATM access at any Allpoint or MoneyPass ATMs in the U.S. If you maintain a balance of $5,000 or more in the account, TIAA Bank will reimburse you for all U.S. ATM fees charged by other banks. If the account balance is below $5,000, you will receive up to $15 per month in U.S. ATM fee reimbursements.

For small businesses with moderate transaction volume, the bank also offers theTIAA Business Checking, which provides up to 200 free transactions and 10 free online bill payments per month. TIAA Business Checking does not earn interest and has a monthly maintenance fee that can be waived with a $5,000 balance. TIAA Bank offers several other checking solutions and savings deposit accounts that include business money market accounts and CDs, plus a variety of treasury and merchant services.

Read our full TIAA Bank Business Checking Review.

Radius, an online bank founded in 1987, was acquired by LendingClub, one of the largest online lending marketplaces, in February 2020, and now operates as LendingClub Bank. LendingClub Tailored Checking is its primary business checking option, which—unlike other accounts on this list—both earns interest and awards cash back.

LendingClub Tailored Checking pays 1.50% APY on the first $100,000 of any balance and 0.10% APY on balance portions over 100,000.

In an unusual feature for a business checking account, online and signature-based “credit” transactions made with the LendingClub debit card earn unlimited 1.00% cash back, provided you meet the account requirements, including an average monthly balance of $500 or more. LendingClub charges no ATM fees and rebates fees charged by other ATMs, worldwide.

The LendingClub Tailored Checking account offers unlimited free transactions. The $10 monthly maintenance fee is waived when you maintain an average monthly balance of $500 or more. After a $100 minimum deposit to open a Tailored Checking account, there is no minimum balance requirement.

LendingClub Bank offers several savings deposit options for small business and commercial applications, including savings accounts, money market accounts and CDs. LendingClub also provides a variety of cash management and business lending solutions, including being a nationwide Preferred SBA Lender.

Read our full Radius, Now LendingClub, Business Checking Review.

BlueVine, an online banking platform founded in 2013, offers a business checking account that features unlimited transactions and very few fees. BlueVine Business Checking earns a very competitive 2.00% APY on balances up to and including $100,000. (Balances over $100,000 do not earn interest.)

To earn the 2.00% APY, you will need to spend $500 per month with your BlueVine Business Debit Mastercard or receive $2,500 per month in customer payments into your BlueVine Business Checking account via ACH, wire transfer, mobile check deposit or directly from your merchant payment processing provider.

There is no required minimum deposit, no monthly service fee, no minimum balance requirement and there are no ATM fees at 37,000+ MoneyPass ATMs nationwide. BlueVine does not assess non-sufficient funds fees and, for those who write paper checks, you receive two free books of checks.

BlueVine provides a Mastercard business debit card. Business owners have an unlimited number of transactions with which to pay vendors and bills via ACH transfer, wire or check. It’s easy to transfer money to and from other accounts and to schedule one-time and recurring payments.

The BlueVine mobile app provides 24/7 access to your banking relationship and, when you need help, there’s an online resource center and customer service that’s reachable by phone or email. BlueVine also offers business lines of credit to qualifying customers.

Small business owners who need to make cash deposits can do so for a fee through BlueVine’s partnership with Green Dot, with over 90,000 U.S. retail locations. BlueVine is a financial technology company, not a bank. Deposits are FDIC insured through Coastal Community Bank.

Read our full BlueVine Business Checking Review.

U.S. Bank, the fifth largest U.S. bank based on assets, offers five business checking accounts, including specialty accounts for nonprofit organizations and businesses with complex needs.

For new and small businesses with basic banking needs, the U.S. Bank Silver Business Checking Package provides a straightforward business checking account, with no monthly maintenance fee. A $100 minimum deposit is required to open a Silver Business Checking account.

You can perform 125 free transactions per statement cycle; these transactions include teller deposits, ATM deposits and check and debit card purchases. Transactions are $0.50 each above the 125 limit.

You can make up to 25 free cash deposits per statement cycle. If you need to write paper checks, you can receive a 50% discount on the first check order up to $50.

All five U.S. Bank business checking accounts include a debit card and surcharge-free transactions at U.S. Bank ATMs, online and mobile banking with mobile check deposit and access to a variety of business services and payment solutions. U.S. Bank also offers business savings deposit options, including saving accounts, money market accounts and CDs.

Read our full U.S. Bank Silver Business Checking Review.

First Internet Bank is an Indiana-based digital bank that was founded in 1999. It offers two business checking accounts: Small Business Checking and Commercial Checking. The Small Business Checking account, featured on this list, comes with no minimum deposit, no minimum balance and no monthly maintenance fee.

First Internet Bank Small Business Checking also pays an 0.50% APY for accounts with an average daily balance of $10,000 APY for accounts with an average daily balance of $10,000. You can conduct an unlimited number of monthly transactions and you will be reimbursed up to $10 per month in ATM fees.

Another business checking option is First Internet Bank Commercial Checking, which is designed for businesses that need access to extra banking services like sweep services, remote deposit capture, wire services and more.

First Internet Bank also offers several business deposit accounts, including a savings account, money market account and CDs.

Read our full First Internet Bank Business Checking Review.

Novo stands out among the other banks listed here for its sole focus on business banking. Novo is a banking platform, not a bank, whose deposits are insured by partner bank Middlesex Federal Savings, F.A. Designed to serve U.S.-based small business owners, entrepreneurs, and freelancers, Novo offers a single business checking account.

The account has no monthly maintenance fee and no minimum balance requirement. Novo does request an opening minimum of $0 to unlock all of the account features. There are very few fees attached to this account at all: Novo Business Checking offers free transfers, mailed checks and incoming wires and it refunds all ATM fees.

The account integrates with other small business tools you may be using to manage your business, including Stripe, Shopify and QuickBooks. It also integrates with Zapier and Slack. If you need to send a paper check, you can request online for one to be sent at no charge. When you need to deposit cash, you can purchase a money order and deposit the money order through the mobile check deposit feature.

Read our full Novo Business Checking Review.

Bank of America offers two primary business checking accounts: Business Advantage Fundamentals Banking and Business Advantage Relationship Banking. The Fundamentals business checking account, featured here, provides essential small business banking features and flexible account tools at a low monthly cost. The account has a monthly fee of $16, which can be waived by maintaining certain account minimums and other activities (see Details).

With Business Advantage Fundamentals Banking, your business can enjoy online banking and bill pay, mobile banking (including mobile check deposit), automatic account alerts to help prevent fraudulent activity and business debit cards with Total Security Protection.

Bank of America also provides Account Management services, including integration with QuickBooks, for $15 per month. The Fundamentals account includes access to Bank of America’s Cash Flow Monitor and Connected Apps to help track your business’s financial performance.

When you need general customer service support, you can call Monday through Friday, 7 a.m. to 1 p.m. ET and Saturday, 8 a.m. to 8 p.m. ET. For specific questions about business banking services like remote deposit or online banking, you can call additional dedicated service lines.

Bank of America also offers a wide variety of additional business banking features, including savings accounts and CDs, business management tools and services, credit cards, lending and retirement solutions from Merrill Edge.

Read our full Bank of America Business Checking Review.

Chase Business Complete Banking pairs a business checking account with Chase QuickAccept. With Chase QuickAccept, your business can accept card payments as an integrated feature of your small business bank account. For a small fee, you can process card payments, and you also receive same-day deposits into your business checking account.

The monthly service fee, $15, is waived if you meet specific monthly account requirements (see Details). There is no fee for the first 20 deposits and withdrawals made either at the teller or by paper check. Each additional paper check or teller transaction incurs a 40-cent fee.

The Chase Business Complete Checking debit card has a daily purchase limit of $10,000. You can withdraw up to $3,000 cash per day at Chase in-branch ATMs. Chase charges for using out-of-network ATMs in the U.S. and internationally.

You can send and receive money using Chase QuickDeposit, wire transfer and Chase Online Bill Pay. Enrollment in Chase QuickDeposit is subject to approval and requires a two-year agreement and a monthly maintenance fee for the check scanner.

As your business grows, Chase also offers Performance Business Checking and Platinum Business Checking, which have additional fees and features. Chase also offers business savings accounts and CDs, small business financing—including loans and lines of credit—and business credit cards.

Read our full Chase Business Complete Banking Review.

A full-service online bank since 2000, Axos Bank offers two business checking accounts: Basic Business Checking and Business Interest Checking.

Axos Basic Business Checking, featured here, has no opening deposit requirement, no monthly maintenance fee and no minimum balance requirement. If you want to use paper checks, your first set of 50 checks is complimentary. The account provides a Visa debit card, with unlimited reimbursement of domestic ATM fees. Dedicated banking relationship managers are available Monday through Friday. There is no limit to the number of transactions—debits, credits or deposited items—that can be processed each month. You also get two reimbursed domestic wires per month.

The bank also offers the , which pays up to 1.01% APY on balances below $50,000. This account requires only a $100 minimum opening deposit. The $10 monthly maintenance fee can be waived with a $5,000 minimum average daily balance. Business Interest Checking also features unlimited domestic ATM fee reimbursement. The first 100 transactions are free each month, with a $0.50 fee for each additional transaction.

Axos Bank also offers two business savings accounts, a business money market account, a nonprofit money market account and business CDs. Merchant services are provided through a partnership with Celero Merchant Solutions.

Read our full Axos Bank Business Checking Review.