Top Business Checking Accounts

All business owners or potential owners need to have a small business checking account. If not, you could be missing out on several opportunities including access to credit which helps you operate your business.  Also, you could have liability problems from your business with limited legal protection from lawsuits.

So one of the main things is to ensure your business finances are separate from your personal finances by opening a business bank account. Below we will provide you with information on business checking accounts that you could open up today that aren't necessarily the big bank names you most likely are already aware of.

The top business checking accounts don't charge monthly service fees. The best business checking accounts make banking even more affordable by requiring zero or low minimum opening deposits, wire transfers, overdraft, or out-of-network ATM fees.

Checking accounts need to be right for your business which includes being convenient for your type of business. Need to deposit cash? Then an online account with no way to deposit cash won't make sense.

Can you make a check deposit electronically? Will it sync with your accounting software?

Do you have a high volume of transactions every month? You should seek an account with unlimited free monthly withdrawals and deposits.

How To Open A Business Checking Account

To open a small business checking account , you will need the following information and documents:

 

  • Name, address, and state of your business and all owners

  • Employer Identification Number(EIN) or Social Security Number

  • Business tax ID

  • Business license

  • Articles of incorporation (for corporations)

  • Articles of organization (for LLCs)

  • Partnership agreement (for partnerships)

  • Sole proprietors are often approved but it depends on the bank.

Carefully read the terms and conditions of your business checking account. Note any fees or balance requirements and see if they make sense for your business.

This is not an endorsement for these companies so please perform your own due diligence before working with them.

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Novo

Novo is a great option for a no-fee digital banking platform for business owners that are small to medium in size.  

They have a technologically advanced app, check deposit via photo, no fees, and they have several integrations to connect with the other tools you already use. That goes above what many many others offer at no cost for a business bank account.

 

Novo Benefits: 

  • Free, simple to use, online business checking. 

  • Can apply in under 10 minutes

  • Free ACH transfers, mailed checks, and incoming wires

  • Thousands of dollars in exclusive perks

  • No monthly fees or minimum balance requirements

  • Integrates with the services like Quickbooks, Xero, Shopify, and Stripe

Novo is FDIC Insured through Middlesex Federal Savings

Our dedicated security teams and bank-grade encryption ensures that your information remains safe 24/7

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Bluevine

Bluevine launched a business checking product in December 2019 that provides a free business checking account.

This business checking offers:

  • unlimited transactions per month.

  • no minimum balance requirements

  • free online statements

  • live support

  • No monthly or NSF fees

  • features and support designed to streamline your banking

  • pay 1.00% APY on your balance up to $100,000

  • two free checkbooks

  • many software integrations

Lightning speed

With a sign-up process that takes just a few minutes, opening an account with Bluevine couldn't be easier.

BlueVine is a financial technology company, not a bank.
BlueVine deposits are FDIC insured through The Bancorp Bank; Member FDIC.

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nbkc bank

nbkc banks business checking account is simple, transparent, and free.

The Business Account is :

  • $0 a month.

  • No hidden fees, No gimmicks.

  • Zero dollar minimum.

  • Write as many checks, pay as many bills and make as many deposits as you need – even from your phone = $0 a month.

  • Unlimited nbkc account support

nbkc does have Add-ons for additional costs if you need them:

  • With nbkc’s ACH Credits and Debits add-on in your toolkit, you’ll have the time and resources to take that next bold step with your business.

  • Direct deposit, payroll, and vendor payments

  • Rent, subscriptions, and fee collection

  • Dual control capabilities

  • Out-of-band authentication

 

Overall nbkc has good customer service, smart technology, and solid offerings.

nbkc is - Member FDIC | Equal Housing Lender | NMLS# 409631

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BBVA

BBVA Business Connect Checking

Managing your business is an around-the-clock job. Bank on the go with free Online Banking, Mobile Banking, and Bill Pa, plus never worry about maintaining a minimum account balance again.

BBBVA benefits Include:

  • No monthly Service Charge

  • Up to $5,000 in cash processing per month

  • Unlimited debit card and ATM transactions at no additional charge1

  • Total of five processed checks and in-branch withdrawals2 and two in-branch deposits3 processed per month at no additional charge

  • No BBVA USA fee to use another bank’s ATM

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Axos Bank

Axos is a technology-driven financial services company providing a diverse and ever-growing range of innovative products and services for personal, business and institutional clients nationwide.

Powered by exceptional team members, a clearly defined set of values and a culture that is both meritocratic and self-governing, we are transforming banking as we know it.

Axos mission is summed up in two words: Banking Evolved.

Banking Evolved means providing products and services that are technologically superior to our competitors and that offer our customers an unbeatable value proposition.

Banking Evolved means continuously innovating and excelling in the following areas:

  • The incubation, creation and deployment of new businesses and tools that best serve our customers;

  • The evolution, optimization, delivery, distribution and marketing of our products;

  • The harnessing of data and technology to manage our business most effectively and efficiently; and

  • The development and engagement of our team members.

Axos Basic Business Checking

Designed for small businesses with moderate account activity.

No monthly maintenance fees and a low minimum deposit requirement to open an account.

Axos Business Interest Checking (0.81% APY)

Perfect for growing businesses with cash reserves.

No monthly maintenance fees when you maintain an average daily balance of at least $5,000.

This account is a great solution for established businesses who are looking to grow their reserve funds.

Merchant Services

Help your small business grow with payment processing tools. Through Axos' Celero partner, we offer point-of-sale terminals and options for mobile commerce, check acceptance, security PCI compliance, and more.