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Best Business Checking Accounts – USA

Best Business Checking Accounts

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USA – December 2022
  • 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 July 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
$10 Per month More Info NorthOne Corporate Mastercard FDIC
  • Deposit / withdrawal at 300,000 fee-free ATMs
  • Automatic savings management by sub-accounts
  • Deposits are FDIC-insured to at least $250,000
9.8 30$ Gift for Funded Account

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 118 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
  • $2,000 minimum balance
9.5

Payments

Card type
  • VISA card
Domestic Transfers
  • ACH transfers: Outgoing: 25$+15¢ per payment
  • Wire Transfers: Incoming: 15$, Outgoing:25$/35$
International Transfers
  • Wire Transfers: Incoming: 15$, Outgoing:40$

Accounting Tools

  • close-mark-black Accounting integration
  • green-check-mark Bill Pay
  • green-check-mark Payment processing
  • close-mark-black Invoicing

Security Features

  • Member FDIC

Account Access

Based on 852 reviews
Free plan More Info Lili Visa Business Debit Card FDIC
  • Automatic tax saving and write-off tracker tools
  • Transaction categorization & receipts scanning features
9.1

Payments

Account Types
  • USD
Domestic Transfers
  • Free ACH Bank Transfer
International Transfers
  • Free debit transactions

Accounting Tools

  • green-check-mark Expense Management
  • green-check-mark Savings tools
  • green-check-mark Bookkeeping
  • green-check-mark Invoicing
  • green-check-mark QuickBooks, Venmo & more

Security Features

  • Deposits are insured up to $250,000 via Choice Financial Group, Member FDIC

Account Access

Based on 824 reviews
Free plan More Info Divvy Visa Business Card FDIC
  • Rewards on Business purchases
  • Spend management card
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
$10 Per month More Info Axos Visa Debit Card FDIC
  • $5,000 min. daily balance to waive monthly fee
  • Domestic ATM fee reimbursements
8.5

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 33 reviews
1
  • Automatic savings with sub-accounts
  • Deposit / withdrawal at 300,000 fee-free ATMs
More Info +
30$ Gift for Funded Account
2
  • Same-day deposits at no additional cost
  • $15 monthly fee + $2,000 min. balance required
More Info +
3
  • Automatic tax saving & write-off tracker
  • Transaction categorization & receipts scanning features
More Info +
4
  • Rewards on Business purchases
  • Spend management card
More Info +
5
  • Domestic ATM fee reimbursements
  • $5,000 min. daily balance to waive $10 monthly fee
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.

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.

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. 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.

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

Features Icon
Banking Features
Accordeon button
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
Accordeon button
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
Accordeon button
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
Accordeon button
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
Accordeon button
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
Accordeon button
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.