Best Business Checking Accounts Of June 2024

We chose the NBKC Bank Business Checking Account because it doesn’t have fees or minimums, making it friendly to small businesses and startups without a lot of capital. NBKC also stands out as a full-service digital bank.

Why We Like It

We like that this free account helps business owners save time and money. It doesn’t charge fees found with many business bank accounts or require owners to maintain a certain balance or activity level to get the most benefit. We also like that NBKC offers many business accounts, lending options and payment solutions so small businesses can grow without switching banks.

What We Don’t Like

Although the NBKC online platform and mobile app are user-friendly, they’re more basic than offerings from other banks and don’t have many business-specific tools for budgeting and accounting.

Who It’s Best For

The NBKC Bank Business Checking Account is best for smaller businesses that want to save on banking and have the flexibility to let their balances fluctuate. It’s ideal for those without complicated money management or app integration needs.

NBKC Bank offers a single mobile app for both business and personal banking. The account offers surcharge-free ATM access at over 37,000 MoneyPass ATMs. Suppose 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 free business checking account, NBKC Bank offers business savings deposit accounts—both money market accounts and certificates of deposit (CDs)—business loans and lines of credit, and business solutions including cash management, fraud management, collections and disbursement services.

The NBKC Bank Business Checking Account does not have active sign-up or referral bonuses at this time.

We picked the Bank of America Business Advantage Relationship Banking account because it offers widespread in-person access as one of the largest banks in the country and high customer satisfaction for business accounts.

Why We Like It

We like Bank of America because it ranks highly for merchant services satisfaction with J.D. Power and has nearly 3,800 bank branches in the U.S.

What We Don’t Like

We don’t like that this account has a high monthly fee and a high minimum balance requirement of at least $100 to waive it.

Who It’s Best For

This account is best for business owners who prefer doing their banking in person and will qualify to waive the maintenance fee every month.

Consider the Bank of America Business Advantage Fundamentals™ Banking instead if you need an account with a lower monthly fee that’s easier to waive, but note that this option—which also scored highly in our analysis—carries lower free transaction and cash deposit limits and more service fees.

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. When you need general customer service support, you can call Monday through Friday, 7 a.m. to 11 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 does not offer a bonus for the Bank of America Business Advantage Relationship Banking account, but the Bank of America Business Advantage Fundamentals™ Banking offers the following cash bonus: Earn a $200 cash bonus when you open a Bank of America Business Advantage Relationship Banking or Bank of America Business Advantage Fundamentals™ Banking by June 30, 2024, make a qualifying deposit within 30 days, then maintain a balance of at least $5,000 for the following 60 days—until the 90th day after the account was opened..

We picked the Axos Bank Business Interest Checking account because it offers several free business services and earns competitive interest. It also comes with access to dedicated Axos Bank relationship managers.

Why We Like It

We like this account because it includes unlimited domestic ATM reimbursements for third-party ATMs and discounted business services with partners Celero and ADP. And, of course, it earns up to 1.01% APY on balances below $50,000.

What We Don’t Like

We don’t like that this account carries a $10 monthly fee and has a low remote deposit limit of 60 items per month. It also only earns the best interest rate on balances below $50,000.

Who It’s Best For

Axos Business Interest Checking is best for business owners open to using Axos’ service partners who plan to keep between $5,000 and $50,000 in the bank. More or less than this and you’re probably better off going with a different account.

Axos Business Interest Checking earns up to 1.01% APY on balances below $50,000, 0.20% APY on balances between $50,000 and $249,999.99 and 0.10% APY on all other balances. The account limits free remote deposits to 60 items per month and a monthly processing limit of 100, including remote deposits. This account offers a complimentary starter set of paper checks.

Dedicated banking relationship managers are available Monday through Friday. This account charges fees for paper statements, checks and outgoing wire transfers. Axos also offers business savings accounts, a business money market account, a nonprofit money market account, business CDs and loans. Merchant services are provided through a partnership with Celero Merchant Solutions. Payroll services are provided through a partnership with Roll by ADP.

Axos offers a cash bonus of up to $400 when opening an account and meeting certain requirements by June 30, 2024, using offer code NEW400. To qualify, you must make a deposit within 30 days of opening your new account, and your balance will be used to determine the amount of your bonus. To earn $400, which is paid as $100 for up to four statement cycles, you will need to have an average balance above $50,000 in your new account, a minimum of 10 POS transactions of at least $3 each posted to your account each month and bill pay set up for your account. You need to submit an application by June 30, 2024 to qualify.

Business owners who are also interested in opening a personal checking account can qualify for a bonus of up to $700 when they open a business checking account and a high-yield Rewards Checking account at the same time. To qualify for this bonus, you will use the code AXOS700 to apply for both accounts by June 30, 2024. Then, you must meet individual bonus requirements for each account.

We picked the First Internet Bank Do More Business™ Checking account because it includes interest and perks like unlimited transactions and $10 in monthly ATM reimbursements, in addition to being one of the only competitive business checking accounts out there without a monthly fee.

Why We Like It

We like this account because instead of paying the best interest rate on smaller balances, as many business checking accounts do, it pays 0.50% APY for accounts with an average daily balance of $10,000 APY on accounts with an average daily balance of $10,000.

What We Don’t Like

We don’t like that balances below $10,000 don’t earn interest with this account. First Internet Bank also doesn’t have an ATM network of its own or partner with an existing network, so business owners may have trouble staying under the out-of-network reimbursement limit.

Who It’s Best For

The First Internet Bank Do More Business Checking account is best for mature businesses that keep larger balances in the bank and transact often, but it could also meet the needs of smaller businesses with less to deposit.

Interest for this account is compounded and credited monthly on the last day of each month. The Do More Business Checking account has no minimum deposit, balance or monthly maintenance fee. Regardless of your balance, you will be reimbursed up to $10 per month in ATM fees. First Internet Bank also offers several business deposit accounts, including a savings account, money market account and CDs.

The First Internet Bank Do More Business Checking account does not have active sign-up or referral bonuses at this time.

We chose the PNC Bank Business Checking Plus account because it comes with a sign-up bonus and offers ongoing cash-back rewards through PNC Purchase Payback. Cash-back promotions change often and vary by location but may help some save on business spending.

Why We Like It

We like this account not just for the rewards but also because it permits businesses to deposit up to $10,000 in cash fee-free each month. PNC Bank also offers tools to help businesses track their spending and manage their cash flow, as well as in-person branches in many states.

What We Don’t Like

On the list of things we don’t like about it, this account’s $22 monthly fee is at the top. And while it is waivable, the requirements to avoid it may be too high for small businesses. PNC Bank also requires some business owners to visit a branch to finish opening their accounts.

Who It’s Best For

PNC Business Checking Plus is best for established businesses with high deposit volumes and frequent debit card use. While PNC Bank offers mobile and digital banking, this account may be best suited for business owners who prefer banking at a branch.

PNC Business Checking Plus is a non-interest-bearing account. The first 500 transactions (including deposits, paid items and ACH transfers) and $10,000 in cash deposits are free each month.

The $22 monthly account maintenance fee is waived when you either: maintain a $5,000 average monthly balance, use your PNC debit card to make $5,000 in purchases, receive $5,000 in deposits from a linked Merchant Account, or maintain an average combined collected balance of $20,000 across all business checking and money market accounts. This account carries a number of incidental fees you may be charged. PNC Bank has branches in 28 states.

New PNC Business Checking or Business Checking Plus accounts are eligible for a $200 cash bonus at sign-up. To earn the bonus, you must open an account by June 30, 2024, maintain the minimum average balance of $5,000 for the first three statement cycles and make a minimum of 20 qualifying purchases using the PNC Bank Visa Business Debit Card within the first three statement cycles. These requirements are the same for both accounts mentioned.

We chose the TD Bank Business Convenience Checking Plus account because it provides easy-to-reach customer service to business owners, including support on the weekends, along with a variety of ways to avoid overdraft fees.

Why We Like It

TD Bank offers a lot of flexibility for small businesses that need help with their accounts. We like that the bank provides business account support Monday through Friday from 7:00 a.m. to 9:00 p.m. ET and on weekends from 8:00 a.m. to 8:00 p.m. ET. The account also offers overdraft protection, a one-day overdraft grace period and optional overdraft protection lines of credit.

What We Don’t Like

The Business Convenience Checking Plus account doesn’t earn any interest, and its $5,000 cash deposit limit is lower than some other banks. Small businesses will have to pay $0.30 for every $100 deposited over the limit.

Who It’s Best For

The TD Bank Business Convenience Checking Plus account is best for businesses that value readily available customer service. It’s also a good fit for small business owners who plan to keep low balances and may benefit from overdraft protection services.

For higher deposit and transaction limits at a higher price point, the TD Business Premier Checking account is another option that scored highly in our analysis. Also an all-around strong choice, according to our research, is the TD Business Simple Checking account, which promises a lower monthly fee with reduced limits.

TD Bank Business Convenience Checking Plus offers online customer account service and extended banking hours. There is a $3 fee for using an out-of-network ATM.

The account provides 500 free transactions and up to $5,000 in cash deposits per statement cycle. After reaching these maximums, you will pay $0.50 for each transaction and $0.30 per $100 deposited.

There is a $25 monthly fee that can be waived by maintaining an account balance of $1,500 in combination with a TD Bank personal checking account. The TD Business Premier Checking and TD Business Interest Checking Plus accounts also scored highly and offer additional benefits, like interest or lowered service fees. TD Bank maintains a network of 1,100 branches and 2,600 ATMs, primarily along the East Coast.

The TD Bank Business Convenience Checking Plus account does not have active sign-up or referral bonuses at this time.

We chose KeyBank Business Reward Checking because of its high cash deposit limit and low over-limit fees, its unlimited incoming wire transfers and its affordable merchant services.

Why We Like It

We like this account because it has many perks for sole proprietors. Although the cash deposit limit of $25,000 and low fees may appeal to any business, the account lets sole proprietors count personal balances toward fee waiver requirements. And with modestly priced Key Merchant Services, business owners may save when processing card payments.

What We Don’t Like

We don’t like this account’s steep requirements to waive the monthly service fee, with higher balance minimums than other business checking accounts. Business owners must maintain a $7,500 average daily balance or have $20,000 in combined balances to avoid the $25 fee unless they’re enrolled in Key Merchant Services.

Who It’s Best For

The KeyBank Business Reward Checking account is best for business owners who need to make frequent cash deposits and sole proprietors looking to avoid fees. KeyBank could also be attractive to business owners who like banking in person, as the bank has more than 1,000 branches across 15 states.

KeyBank Business Reward Checking has a $25 minimum opening deposit requirement and comes with a $25 monthly fee, which is waived for the first two months. After that, the fee can be waived with an average daily balance of at least $7,500 in this account or a combined average daily balance of $20,000 across eligible business deposit and credit accounts. It is also waived for customers with Key Merchant Services subscriptions. Overdraft protection is available when linked to an eligible KeyBank business account.

Customers can deposit up to $25,000 in cash per month without paying any fees and will pay $0.18 per $100 deposited over that limit. There is a 500-item monthly transaction limit, and each transaction made above this incurs a $0.40 charge. This is a non-interest-bearing account, but the KeyBank Business Interest Checking account ranked comparably in our analysis, though it only offers 0.01% APY on all balance tiers.

The KeyBank Business Reward Checking account does not have active sign-up or referral bonuses at this time. However, KeyBank is offering a $300 statement credit for new Key Merchant Services accounts. To qualify, new account holders must process at least $5,000 in credit or debit card transactions within three months of onboarding, and the account must be open and in good standing—with no uncollected chargebacks or ACH rejections—to qualify for the credit.

We picked the U.S. Bank Gold Business Checking Account Package package because it offers widespread in-person access to ATMs for convenient deposits and withdrawals, and it also offers perks for small businesses with multiple employees who need to use the account.

Why We Like It

We like that this account provides customizable access options for employees. Business owners can share account access with others at no cost and choose from a long list of permissions to grant or deny. And between U.S. Bank’s many ATMs and the bank’s partnership with the MoneyPass ATM network, account holders can easily avoid fees when handling cash.

What We Don’t Like

This account lacks the management tools, app integrations and rewards available with many of the best business accounts. It also doesn’t earn interest, and its transaction and deposit limits are comparatively low. While U.S. Bank has an extensive ATM network, this account permits only $10,000 in free monthly cash deposits, which is on the low side.

Who It’s Best For

The U.S. Bank Gold Business Checking Package is best for businesses that want convenient access to branches and ATMs without the fees often found at big banks. It’s also one of our top picks for businesses with employees.

The U.S. Bank Silver Business Checking Account Package package is another worthy option from this bank. This package has no monthly maintenance fee and offers reduced deposit and transaction limits for businesses with less activity.

A $100 minimum deposit is required to open a Gold Business Checking account. The account’s $20 monthly maintenance fee is waived with a combined average checking balance of $10,000 or $25,000 for interest accounts, a combined average deposit balance of $20,000 or $50,000 for interest accounts, or a combined average collected business deposit and credit balance of $50,000.

Transactions that count toward the monthly limit include teller deposits, ATM deposits and check and debit card purchases. Transactions are $0.45 each above the 300 limit, and cash deposits over the $10,000 monthly limit cost $0.33 per unit (where units are calculated by dividing each cash deposit amount by 100 and rounding the resulting value to a whole number). If you need to write paper checks, you can receive a 50% discount on the first check order up to $100. U.S. Bank also offers business savings deposit options, including savings accounts, money market accounts and CDs.

This account does not offer a welcome bonus.

We chose Relay because its fee-free digital account lets business owners seamlessly integrate with accounting and payment software and create sub-accounts to separate their funds. Relay offers both a free business checking account and a paid account with more integrations.

Why We Like It

We like that Relay lets business owners open up to 20 checking accounts, issue up to 50 virtual debit cards to employees and connect accounting, payroll and receipt management software. Plus, Relay’s paid checking account—Relay Pro—offers even more integrations and a few waived service fees. Both versions have no minimums or transaction limits.

What We Don’t Like

As an online-only financial technology company, Relay doesn’t offer a traditional banking experience. Along with a lack of branches, this means cash deposits are only accepted at ATMs, and the platform has a long hold time for depositing checks.

Who It’s Best For

Relay is best for tech-savvy business owners who prefer online banking, already use software that’s compatible with the platform, and will make use of free sub-accounts and extra debit cards. It’s a good option for business owners who want to save as well, as Relay also offers a savings account that earns 1.00% to 3.00% APY with extended FDIC insurance coverage.

This account doesn’t earn interest. Fees are charged for wire transfers and foreign transactions. This checking account has eight tiers based on transaction history and volume. Limits on deposits and withdrawals depend on your account’s tier.

Receive a $100 bonus for holding $10,000+ in your Relay account within 30 days of account opening.¹

¹Limit of one (1) $100 USD cash reward per business. To qualify for this offer, your Relay application must be completed, and your account must have a balance of at least $10,000 USD within 30 days of account approval. An average balance of $5,000 USD or more must be maintained at least until the bonus amount of $100 has been deposited. $100 (‘The Offer’) will be automatically applied to an approved Relay account within 10 business days of fulfilling the eligibility requirement(s). Offer cannot be combined with other offers.

We picked the Wells Fargo Initiate Business Checking Account because it’s an accessible business banking solution for small businesses and entrepreneurs with low monthly transaction volumes, with one of the lowest deposit requirements and monthly fees on this list.

Why We Like It

We like that Wells Fargo offers a full suite of business products and services to accommodate business owners as their needs expand. This account has a low monthly transaction limit of 100 items and a cash deposit limit of $5,000, making it best suited to new and growing businesses.

What We Don’t Like

Compared to other business checking accounts, this account has meager deposit and transaction limits. Business owners may outgrow it quickly as they increase their volume—or be stuck paying relatively high per-transaction fees.

Who It’s Best For

The Wells Fargo Initiate Business Checking is best for new business owners who are just getting started and can stay under the monthly deposit and transaction limits. It is not the right choice for businesses with a lot of monthly activity or extensive integration needs.

The Wells Fargo Initiate Business Checking account requires a $25 opening deposit. It comes with a $10 monthly service fee that is waived with a $500 minimum daily balance or $1,000 average ledger balance on the account.

Business owners can deposit $5,000 and make 100 fee-free transactions each month. After that, cash deposits cost $0.30 per $100 deposited, and account holders will pay $0.50 per additional transaction. Business owners have access to mobile and online banking, as well as Wells Fargo’s large national network of ATMs and branch locations.

The Wells Fargo Initiate Business Checking does not have active sign-up or referral bonuses at this time.

We picked the Bluevine Business Checking account because it has unlimited transactions and very few fees, and it earns up to 2.00% APY on balances up to and including $250,000 with the Standard plan. (Balances over $250,000 do not earn interest.)

Why We Like It

We like that this account lets you create five subaccounts, with adjustable permissions and individual account numbers, to take full advantage of perks and features. It also provides expanded FDIC coverage of up to $3 million through a deposit sweep program.

What We Don’t Like

We don’t like that Bluevine requires you to meet account activity requirements to qualify for the interest or that the fintech charges a fee for cash deposits.

Who It’s Best For

The Bluevine Business Checking account is best for business owners who can easily qualify for the best APY and who will use the many business tools available with the account.

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. Bluevine Plus and Premier plan holders automatically earn interest and can qualify for higher rates of 3.00% and 4.25% APY, respectively.

Bluevine’s accounts payable feature allows business owners to automate workflows and delegate tasks, and account owners can connect their Bluevine accounts with QuickBooks Online. Bluevine charges no ATM fees at 37,000+ MoneyPass ATMs nationwide, does not assess non-sufficient funds fees and offers two free books of checks. Deposits are FDIC-insured through a sweep network of program banks for up to $3 million. This coverage is above the standard $250,000 limit per account because Bluevine deposits are held with multiple banks.

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.

The Bluevine business checking account does not have active sign-up or referral bonuses at this time.