Best Business Checking Accounts – USA
Best Business Checking Accounts
US
– April 2024
- FDIC insured by US banking institutions.
- Top checking accounts for E-commerce & SMBs.
- Money saving with low or no fees on transactions.
Advertiser disclosure
| Business Bank | Pricing | Card | Regulation | Main Advantages | Score | Open an Account | |
|---|---|---|---|---|---|---|---|
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1
Our Top Choice
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FDIC
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9.8
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Account Access
Based on 704 reviews
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2
Best for employers
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FDIC
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9.5
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Account Access
Based on 7111 reviews
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3
Best for LLC
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FDIC
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9.1
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Account Access
Based on 1811 reviews
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4
Best for sole proprietors
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FDIC
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8.8
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Account Access
Based on 97 reviews
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5
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FDIC
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8.5
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Account Access
Based on 1104 reviews
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6
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FDIC
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8.2
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Account Access
Based on 58 reviews
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Based on 704 reviews
- Deposits are FDIC insured to at least $250,000
- Secure banking access for financial advisors & team members
- Human-powered customer support
- Integrations: Plaid, QuickBooks Online, Xero, Gusto, Yodlee, and more
- Pro features: auto bill payments, same-day ACH, free outgoing wires, and more
- No monthly fee and no minimum balance
- 20 free checking accounts & 50 debit cards
Based on 7111 reviews
- Deposits are FDIC-insured to up to $3M
- Up to 5 sub-accounts with unique account no.
- Dedicated secure access for team members
- Vendor payments are automatically processed
- Paper checkbooks & cash deposits are available
- No-fee for ATMs use in 37,000 locations
- Eligible customers earn 2.0% APY up to $250k
- Business loans are available up to $250K
Based on 1811 reviews
- Deposits are insured up to $250,000
- Free outgoing transfers & incoming wires
- Unlimited ATM fee refunds
- Human-powered customer service
- Integrations: Stripe, Square, Paypal, Wise, Woocommerce, Amazon, Ebay, Etsy, Shopify, Xero, Quickbooks, Slack, Zapier, and more
- 95% faster payment processing with Stripe
- Free ACH and Wire transfers
Based on 97 reviews
- Deposits are insured up to $250,000 via Piermont Bank, Member FDIC
- Automatic expense tracking in real time
- Built-in tax calculator and tax-saving tools
- Unlimited transactions and customizable invoices
- Unlimited free ACH transfers
- Integrations: Stripe, Square, PayPal & more
- All-in-one banking simplifies self-employment
Based on 1104 reviews
- 15,000+ free Chase ATMs. $3 fee out-of-network
- International out-of-network ATM fees are $5
- No additional charge for same-day deposits
- $15/m on checking & $5/m on savings account
Based on 58 reviews
- Earn 0.20% APY
- Cash deposits via MoneyPass and AllPoint
- A min. opening deposit of $1000 is required
Relay
Relay is a powerful and easy-to-use online payment solution. It includes secure collaboration, automated payment processing, and full transparency of spending activity. Also, all accounts are FDIC-insured accounts up to $250K.
- Direct integrations with QuickBooks Online and Xero accounts.
- Free cash deposits and withdrawals at Allpoint ATMs.
- Delegate money management with role-based user permissions.
- Pre-categorizes card purchases and keeps a record of team spending.
- Automate the transfer of income into each account using dollar amounts or percentages.
Bluevine
Bluevine is an innovative fintech company that allows small businesses access to cutting-edge fintech solutions with secure and user-friendly offerings where all accounts are insured by the Federal Deposit Insurance Corp. up to $250,000.
- No monthly or overdraft fees.
- Earn high-yield interest of 2% on your balance up to $250,000.
- Deposits or payments with no limit on your number of transactions.
- Easily sync with QuickBooks® online accounting software.
- Securely share access with your team using dedicated logins.
Novo
Novo is a FinTech platform of choice for SMBs, start-ups, and freelancers and ensures the security of deposits by the Middlesex Federal Savings (FDIC-insured) up to $250K.
- Apply in under 10 minutes.
- Human-powered customer service.
- Free transfers, mailed checks, and incoming wires.
- Unlimited ATM fee refunds.
- Integrates with other small business tools.
- Simple, easy-to-use mobile apps.
What are the benefits of opening a business bank account?
It’s important to establish a financial identity for your business, whether you’re a freelancer, sole trader, partnership, or corporation. A business bank account is geared towards business activity and is intended to confer the same benefits as a personal bank account.
All parties involved (debtors, creditors, and more) will benefit from dealing with each other through business-to-business accounts for transactions, taxes, and invoices. A business bank account establishes credibility, professionalism, and trust. Also, business banks offer business accounts for those looking to receive company check payments, manage money and process transactions, and more vital features for your business.
Additionally, a business bank account makes tax reporting much convenient. By using a personal account for business expenses, income and expenses are co-mingled while business bank accounts make it easy for you to control.
What’s the best way to choose a business bank account?
Banking Features
Check for payment options, local and international money transfer services, corporate cards, account types and currency available as well as invoicing and bookkeeping tools.
Fees
It’s always nice to deal with an account that offers simple, clear-cut plans, has a low fee on transfers, payment, and withdrawal options options.
Corporate Cards
All business accounts include corporate cards for you and your employees. Find out how many cards are included in your chosen plan and the cost of any additional cards you might require.
Regulation
These banks that we review have all been approved by the regulatory bodies. The FDIC requires banks to insure their deposits of at least $250,000.
Accounting tools
Make sure the system has built-in expense reporting, recurring payments, and direct debits. The majority of banks also integrate seamlessly with accounting and bookkeeping software.
Account Access
There are some banks today that allow customers access to their accounts 24 hours a day, 7 days a week. Most providers offer mobile and desktop/web access, but some business banks offer only one or the other, so make sure your bank offers what you need.