Best Business Checking Accounts – USA

Best Business Checking Accounts

USA flag
USA – May 2022
  • Top banking solutions for E-commerce, small businesses & freelancers.
  • All services are FDIC insured by US banking institutions.
  • Save money with low or no fees on transactions.
Last Updated May 2022
  • No paperwork, FDIC insured banks
  • Low or no fees on all transactions
  • Perfect for small businesses

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Business Banks Pricing Card Regulation Main Advantages Score Open an Account
Free Plan More Info BlueVine Corporate Mastercard FDIC
  • 1.5% APY interest for eligible customers
  • Flexible loans available on-demand
  • No-fees ATMs & cash deposit on 37000 locations
9.8

Payments

Account Types
  • USD
Card type
  • Business debit Mastercard
Domestic Payments
  • ACH
  • Wire transfers
International Payments
  • Wire transfers

Accounting Tools

  • green-check-mark Expense Management
  • green-check-mark Bookkeeping
  • green-check-mark Savings tools
  • green-check-mark Invoicing

Security Features

  • Deposits are FDIC insured to at least $250,000 through The Bancorp Bank

Account Access

Based on 6,771 reviews
Free plan More Info Novo Corporate Mastercard FDIC
  • No monthly fee and no minimum balance
  • Apply for an account in less than 10 minutes
  • Free transfers, mailed checks & incoming wires
9.5

Payments

Card type
  • Business Mastercard
International transfers
  • Via Wise (Transferwise)
Transactions
  • Free transactions within the US

Accounting Tools

  • green-check-mark Expense Management
  • green-check-mark Bookkeeping
  • green-check-mark Invoicing
  • green-check-mark integration with Slack, Xero, Stripe & more

Security Features

  • Deposits are insured up to $250,000 via Middlesex Federal Savings, Member FDIC

Account Access

Based on 1,067 reviews
Free plan More Info Relay Mastercard Debit Card FDIC
  • Organize expenses and cash reserves using up to 20 checking accounts
  • Issue up to 50 physical or virtual Mastercard® debit cards
9.1

Payments

Account Types
  • USD
International Transfers
  • Wire transfers
10$ fee for sending Wire transfer
Domestic Transfers
  • Free ACH Bank Transfer
5$ fee for sending Wire transfer

Accounting Tools

  • green-check-mark Expense Management
  • green-check-mark Bookkeeping
  • green-check-mark Invoicing
  • green-check-mark integration with Quickbooks, Xero, Gusto and more

Security Features

  • Deposits are FDIC insured to at least $250,000 through The Evolve Bank & Trust.

Account Access

Based on 353 reviews
$15 per month
$2K min. balance More Info
Chase Business VISA card FDIC
  • Accept card payments anytime in the US
  • Same-day deposits at no additional cost
8.8

Payments

Currency
  • USD
Card type
  • VISA card

Accounting Tools

  • close-mark-black Accounting integration
  • close-mark-black Money management
  • green-check-mark Payment processing
  • close-mark-black Invoicing

Security Features

  • Member FDIC

Account Access

Based on 852 reviews
10$ Per Month More Info NorthOne Corporate Mastercard FDIC
  • Deposits are FDIC-insured to at least $250,000
  • Automatic savings management by sub-accounts
8.5

Payments

Card type
  • Mastercard Business debit
Checks
  • Deposit checks from phone/web
  • Send a check via mail
Fee free
  • ACH | deposits | transfers | purchases

Accounting Tools

  • green-check-mark Accounting integration
  • green-check-mark Money management
  • green-check-mark Payment processing
  • green-check-mark Invoicing

Security Features

  • Supervised by The Bancorp Bank, Member FDIC
  • Funds insured to at least $250,000

Account Access

Based on 105 reviews
20$ Gift for Funding an account
Free plan More Info Divvy Visa Business Card FDIC
  • No hidden fees. No contracts
  • Get rewarded on your business purchases
8.2

Payments

Card type
  • VISA Business
Domestic Transfers
  • Free
Rewards
  • Restaurants, hotels, software subscriptions

Accounting Tools

  • green-check-mark Expense Managements
  • green-check-mark Accounting integration
  • green-check-mark Invoicing

Security Features

  • Card issued by Cross River Bank, member FDIC

Account Access

Based on 145 reviews
Free plan More Info Axos Visa Debit Card FDIC
  • New businesses get a $100 welcome bonus
  • Surcharge-free ATM network, nationwide
7.9

Payments

Account Types
  • USD
Automated Payments
  • Direct debits
Domestic Transfers
  • First set of 50 checks free
International Transfers
  • Wire transfers

Accounting Tools

  • green-check-mark Expense Management
  • green-check-mark Savings tools
  • close-mark-black Bookkeeping
  • close-mark-black Invoicing
  • close-mark-black QuickBooks integration

Security Features

  • FDIC-insured financial institution
  • Fingerprints, voiceprints, and facial recognition

Account Access

Based on 134,292 reviews
Best for Small Businesses
1
score 9.8
  • 1.5% APY interest for eligible customers
  • Flexible loans available on-demand
More Info +
Best choice for Freelancers
2
score 9.5
  • No monthly fee and no minimum balance
  • Apply for an account in less than 10 minutes
More Info +
3
score 9.1
  • Organize expenses and cash reserves using up to 20 checking accounts
  • Issue up to 50 physical or virtual Mastercard® debit cards
More Info +
4
score 8.8
  • Accept card payments anytime in the US
  • Same-day deposits at no additional cost
More Info +
5
score 8.5
  • Deposits are FDIC-insured to at least $250,000
  • Automatic savings management by sub-accounts
More Info +
6
score 8.2
  • No hidden fees. No contracts
  • Get rewarded on your business purchases
More Info +
7
score 7.9
  • New businesses get a $100 welcome bonus
  • Surcharge-free ATM network, nationwide
More Info +

Why is it Important to Open a Business Bank Account?

As a freelancer, sole trader, partnership, or corporation, it’s important to establish a separate financial identity for your business. A personal bank account isn’t geared towards business activity and does not intend to confer the same benefits as a business bank account.

Debtors, creditors and their banking institutions are much more comfortable dealing with business to business accounts for transactions processing purposes, taxes and invoices. A business bank account establishes credibility, professionalism, and trust. When payroll is needed, a business bank account is a must-have.

Tax reporting is significantly easier to manage with a business bank account. When a personal account is used for business activity, co-mingling of income and expenses takes place. This complicates matters. Besides, business bank accounts make it much easier for you to effectively control incomes and expenses with your business.

Business Bank Accounts – FAQs

Why is it Important to Open a Business Bank Account?

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As a freelancer, sole trader, partnership, or corporation, it’s important to establish a separate financial identity for your business. A personal bank account isn’t geared towards business activity and does not intend to confer the same benefits as a business bank account.

Debtors, creditors and their banking institutions are much more comfortable dealing with business to business accounts for transactions processing purposes, taxes and invoices. A business bank account establishes credibility, professionalism, and trust. When payroll is needed, a business bank account is a must-have.

Tax reporting is significantly easier to manage with a business bank account. When a personal account is used for business activity, co-mingling of income and expenses takes place. This complicates matters. Besides, business bank accounts make it much easier for you to effectively control incomes and expenses with your business.

How Do I Compare & Choose the Best Bank account for My Business?

Accordeon button
Features Icon
Banking Features
At the core, check for payment options, local and international money transfer services, corporate cards, account types and currencies available as well as invoicing and bookkeeping tools.
Fees Icon
Fees
Look for accounts offering simple & clear-cut plans, minimal or no fees on transfers & payments and free withdrawal options.
Corporate card
All business accounts include corporate cards for you & your employees – either through MasterCard or Visa. Check how many cards are included for free in your chosen plan & how much each additional card will cost if required.
Security Icon
Security
The banks we compare & review on Top10BusinessBanks.com are regulated by local authorities. FDIC regulates deposit insurance to at least $250,000
Accounting Icon
Accounting tools
Look for built in expense reporting, scheduled/recurring payments & direct debits. Most banks also offer seamless integration with bookkeeping & accounting tools.
Access Icon
Account Access
Today, some banks offer account access 24 hours a day, 7 days a week. While the majority of providers offer access via both mobile and desktop/web apps, some business banks only offer one or the other so check you have the access you need when selecting your preferred bank.