Best Business Checking Accounts – USA

Best Business Checking Accounts

USA flag
USA – May 2024
  • 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 May 2024
  • 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 nearside Mastercard Enhanced Debit FDIC
  • No monthly minimum balance
  • Universal cashback of 2.2% on most purchases
  • Access to deals with Square | quickbooks | yelp
9.8

Payments

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

Accounting Tools

  • green-check-mark Accounting integration

Security Features

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

Account Access

Based on 17 ratings
Free plan More Info Novo Debit Mastercard FDIC
  • Integration with 50+ automation tools
  • Free & unlimited invoicing automation
  • No fees on transfers by ACH and Wire
9.5

Payments

Card Type
  • Business Mastercard
Domestic Transfers

Free incoming/outgoing ACH
Free incoming wire

International Transfers

Outgoing wire Via Wise (Transferwise)

Accounting Tools

  • green-check-mark Expense Management
  • green-check-mark Savings tools
  • green-check-mark Bookkeeping
  • green-check-mark Invoicing
  • green-check-mark Integration with Xero, Quickbooks & Zapier

Security Features

  • Deposits up to $250k are insured by Middlesex Federal Savings; Member FDIC

Account Access

Based on 3,018 reviews
Free plan More Info Bluevine Debit Mastercard FDIC
  • 2.0% APY on positive balance up to $250k for eligible customers
  • Quick & easy migration of existing accounts
9.1

Payments

Domestic Transfers

Free ACH Transfers
Wire transfers

Standard ACH fee: $0
Same-day ACH fee: $10
Incoming Wire Fee: $0
Outgoing Wire Fee: $15
International Transfers

Transfers to 32 countries outside the U.S in 15 currencies

Outgoing transfer fee (USD): $25
foreign transfer fee: $25 + 1.5% on base payment amount
Card

Business debit Mastercard

Cash

Deposits and withdrawals available at 91,500+ Green Dot ATMs

Checks

Recieve: Check scanner.
Send: 2 free checkbooks.

After 2 checkbooks – $18.22 per checkbook, plus taxes and shipping.
Checking

Accounting Tools

  • green-check-mark Bill pay
  • green-check-mark Free unlimited invoicing
  • green-check-mark Expense Management
  • green-check-mark Payment approvals

Security Features

  • Deposits up to $3,000,000 are insured by Coastal Community Bank; Member FDIC and their program banks.

Account Access

Based on 7,503 reviews
Free plan More Info NorthOne Debit Mastercard FDIC
  • Quick payments: Automated Bill Hub, Same-Day ACH
  • SMBs & teams friendly, cards for every owner
8.8

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 QuickBooks
  • green-check-mark FreshBooks
  • green-check-mark Patriot
  • green-check-mark Zoho Books

Security Features

  • Deposits up to $250k are insured by Bancorp Bank; Member FDIC

Account Access

Based on 159 reviews
$15 / $30 / $95
monthly fee More Info
Chase Debit Visa FDIC
  • Fee-free ATMs at 15,000 locations
  • Same-day cash deposits at no additional cost
8.5

Payments

Minimum Balance

$2k min. balance

Domestic Transfers

ACH transfers: Outgoing: $25 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

  • Deposits up to $250k are insured by Chase Bank; Member FDIC

Account Access

Based on 1,474 reviews
$9 / $20 / $35
According to plan More Info
Lili Debit Visa FDIC
  • Automated tax saving system
  • Expanse tracking feature & recipt scanner
8.2

Payments

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 2,481 reviews
Free plan More Info Divvy Visa Business Card FDIC
  • Rewards on Business purchases
  • Spend management card
7.9

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
$5k min. balance More Info
Axos Debit Visa FDIC
  • Unlimited domestic ATM fee reimbursements
  • Eligible customers earn 1.01% APY up to $50k
7.5

Payments

Cash Deposits
  • N/A
Minimum opening deposit
  • $100
Domestic Transfers
  • Free ACH transfers
  • $15 for outgoing wire transfers
International Transfers
  • $50 for outgoing international wire transfer

Accounting Tools

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

Security Features

  • Deposits up to $250k are insured by Axos Bank; Member FDIC

Account Access

Based on 119 reviews
1
  • No monthly minimum balance
  • Universal cashback of 2.2% on most purchases
More Info +
2
  • Free & unlimited invoicing automation
  • Integration with 50+ automation tools
More Info + Free Plan
3
  • 2.0% APY interest on eligible users’ balance
  • Quick & easy migration of existing bank accounts
More Info + Free Plan
4
  • Quick payments: Automated Bill Hub, Same-Day ACH
  • SMBs & teams -friendly, debit cards for every owne
More Info + Free Plan
5
  • Fee-free Chase ATMs at 15,000 locations
  • Same-day cash deposits at no additional cost
More Info + $15/$30/$95 month
6
  • Automated tax saving system
  • Expanse tracking feature & recipt scanner
More Info + Free Plan
7
  • Rewards on Business purchases
  • Spend management card
More Info +
8
  • Domestic ATM fee reimbursements
  • Eligible customers earn 1.01% APY up to $50k
More Info + $10/month

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?

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.