Best Business Checking Accounts – USA

Best Business Checking Accounts

USA – December 2021
  • No paperwork, fast approval & automated accounting from FDIC insured US banks
  • Save money with low or no fees on transactions
  • Perfect for small businesses & freelancers
Last Updated November 2021
  • 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
90-day free trial
$10 per month More Info
NorthOne Corporate Mastercard FDIC
  • No commitment. no minimum balance
  • Specially designed for Small Businesses
  • Over 300,000 NorthOne-network ATMs
  • Integrations with Quickbooks | Paypal | Stripe
9.8 90-day free trial

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 1,300 ratings
$10 per month More Info nearside Mastercard Enhanced Debit FDIC
  • No monthly minimum balance
  • Mastercard enhanced debit card included
  • Free in-network withdrawals at 55,000 ATMs
9.5

Payments

Card type
  • Mastercard enhanced debit
ATM withdrawals
  • Unlimited & Free in-networt ATM withdrawals
ACH transfers
  • Free
Insufficient funds
  • Free

Accounting Tools

  • close-mark-black Accounting integration

Security Features

  • Banking Services provided by LendingClub Bank
  • National Association, Member FDIC

Account Access

Based on 17 ratings
$15 per month
$2,000 minimum balance More Info
Chase Business VISA card FDIC
  • Accept card payments anytime in the US
  • Same-day deposits at no additional cost
9.1

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 1,713,148 reviews
Free More Info Divvy Corporate Mastercard FDIC
  • No hidden fees. No contracts
  • Get rewarded on your business purchases
8.8

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 Novo Corporate Mastercard FDIC
  • No monthly fee & no minimum balance
  • Appy for an account in less than 10 minutes
8.5

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

Best Bank for Freelancers and Entrepreneurs
Best Bank for Freelancers and Entrepreneurs
Free Plan More Info Axos Bank Corporate Mastercard FDIC
  • New businesses get a $100 welcome bonus
  • Surcharge-free ATM network, nationwide
8.2

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
Free Account More Info lili Corporate Mastercard FDIC
  • Specially designed for freelancers
  • Get paid earlier via direct deposit
7.9

Payments

Account Types
  • USD
Automated Payments
  • N/A
Domestic Transfers
  • Free ACH Bank Transfer
International Transfers
  • Free debit transactions

Accounting Tools

  • green-check-mark Expense Management
  • green-check-mark Savings tools
  • close-mark-black Bookkeeping
  • close-mark-black Invoicing
  • green-check-mark Xero, PayPal & more

Security Features

  • Freeze/ unfreeze your card

Account Access

Based on 1 reviews
Free Account More Info BlueVine Corporate Mastercard FDIC
  • Unlimited transactions
  • No minimum balance required
7.5

Payments

Account Types
  • USD
Automated Payments
  • Recurring & scheduled payments
Domestic Payments
  • ACH
  • Wire transfers
International Payments
  • Wire transfers

Accounting Tools

  • green-check-mark Expense Management
  • green-check-mark Savings tools
  • green-check-mark Bookkeeping
  • green-check-mark Invoicing
  • green-check-mark Connect your invoicing & accounting software

Security Features

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

Account Access

Based on 3,280 reviews
Top rated choice
1
score 9.8
  • No commitment. no minimum balance
  • Over 300,000 NorthOne-network ATMs
More Info +
90-day free trial
2
score 9.5
  • No monthly minimum balance
  • Mastercard enhanced debit card included
More Info +
3
score 9.1
  • Accept card payments anytime in the US
  • Same-day deposits at no additional cost
More Info +
4
score 8.8
  • No hidden fees. No contracts
  • Get rewarded on your business purchases
More Info +
5
score 8.5
  • Free ACH transfers
  • Create and manage invoices
More Info +
6
score 8.2
  • New businesses get a $100 welcome bonus
  • Surcharge-free ATM network, nationwide
More Info +
7
score 7.9
  • Specially designed for freelancers
  • Get paid earlier via direct deposit
More Info +
8
score 7.5
  • Unlimited transactions
  • No minimum balance required
More Info +

Why is it Important to Open a Business Bank Account?

A personal bank account is not intended to confer the same benefits as a business bank account. As a freelancer, sole trader, partnership, or corporation, it’s important to establish a separate identity for your business. Personal accounts are not geared towards business activity. For privacy reasons, your personal account should not be mixed with your business activity.

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. Separation of personal and business finances is always recommended, especially when business debit cards and/or credit cards are issued to company personnel.

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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A personal bank account is not intended to confer the same benefits as a business bank account. As a freelancer, sole trader, partnership, or corporation, it’s important to establish a separate identity for your business. Personal accounts are not geared towards business activity. For privacy reasons, your personal account should not be mixed with your business activity.

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. Separation of personal and business finances is always recommended, especially when business debit cards and/or credit cards are issued to company personnel.

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?

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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. Note that fees may vary depending on the plan you choose (free plans will often incur higher fees than premium plans).
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. Check for regulations such as FCA (Financial Conduct Authority) or the FCS (Financial Compensation Scheme) in the UK & FIN-FSA, BaFin, DNB, ECB & ACPR in Europe.
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. For example, Qonto integrates with Sage and QuickBooks.
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.