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Best Business Savings Accounts – USA

Best Business Savings Accounts

Savings Accounts for – Small businesses & freelancers

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USA – February 2024
  • Compare and choose the best business savings provider for you
  • Find the highest APY with the lowest fees
  • All services are FDIC insured
Last Updated February 2024
  • Compare and choose the best business savings provider for you
  • Find the highest APY with the lowest fees
  • All services are FDIC insured

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Top10BusinessBanks is a free online resource meant to help users find the information they need in order to make a confident decision. We spend countless hours of research to find the most relevant content and present it in the most accessible way. However, please don’t view the information presented here as a recommendation from our end.

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Business Banks Monthly Fees Card APY Benefits Score
Free plan More info Mercury Debit Mastercard 4.75%
  • Gain 4.75% APY on your savings
  • Unlimited fee-free transactions
  • Venture debt loans available for startups
9.8

Payments

Cards
  • Mercury Debit Mastercard
  • IO Credit Mastercard
Domestic wires
  • Free
USD international wires
  • Free
Currency exchange
  • 1% rate

Accounting Tools

  • green-check-mark Accounting integration
  • green-check-mark Money management

Security Features

  • Deposits up to $5,000,000 are insured by Choice Financial Group and Evolve Bank & Trust; Members FDIC.

Account Access

Based on 764 reviews
$15
monthly fee More info
US bank Debit Visa 4.5%
  • Fee waived with $10,000 minimum balance
  • Physical branches in over 2,000 locations
9.5

Payments

ATM access

Yes

Checking account link

Can be linked to your U.S. Bank business checking account for overdraft protection

Opening deposit

$100 minimum opening deposit

Accounting Tools

  • green-check-mark Invoicing
  • green-check-mark Checking
  • green-check-mark Billpay

Security Features

  • Deposits up to $250k are insured by U.S. Bank National Association; Member FDIC

Account Access

Based on 754 reviews
Free plan More info 4.0%
  • Open online account in minutes
  • 4.0% APY with zero monthly fees
9.1

Payments

Monthly Fees

$0

Min. Daily Balance

$0

Min. Opening Deposit

$0

Accounting Tools

  • green-check-mark Quickbooks

Security Features

  • Deposits are insured up to $250,000 by Live Oak bank, Member FDIC

Account Access

Based on 308 reviews
Free plan More info Relay Debit Visa 1%-3%
  • Get up to 3% APY in your savings
  • Get personalized customer support by email
8.8

Payments

Domestic Transfers

Free ACH Bank Transfer

$5 fee for sending Wire transfer
International Transfers

Wire transfers

$10 fee for sending Wire transfer
Card

Relay Debit Visa

Cash

Deposits available at 55,000+ AllPoint ATMs.
Withdrawls are fee-free on any ATM

Check

Recieve: Check scanner
Send: Mailed for you on-demand.

 

Accounting Tools

  • green-check-mark Billpay
  • green-check-mark Savings account
  • close-mark-black Free unlimited invoicing
  • green-check-mark Expanse management
  • green-check-mark integration with QuickBooks, Xero, Gusto, Yodlee and more

Security Features

  • Deposits up to $2,500,000 are insured by the Evolve Bank & Trust and Thread Bank; Members FDIC.
  • Secure collaboration with accountants

Account Access

Based on 1,204 reviews
$15 / $30 / $95
monthly fee More info
Chase Debit Visa 0.01%
  • 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
Free plan More info Bluevine Debit Mastercard Up to 4.25%
  • Earn 2%- 4.25% APY on balances up to $3M
  • Quick & easy migration of existing bank accounts
8.2

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 90,000+ 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
1
  • Unlimited fee-free transactions
  • Venture debt loans available for startups
More info + Free Plan
2
  • Online and mobile banking available
  • Physical branches in over 2,000 locations
More info + $0/$20/$30 month
3
  • Open online account in minutes
  • 4.0% APY with zero monthly fees
More info + Free plan
4
  • Get up to 3% APY in your savings
  • Get personalized customer support by email
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
  • Earn 2%- 4.25% APY on balances up to $3M
  • Quick & easy migration of existing bank accounts
More info + Free Plan

Why is it Beneficial to Open a Business Savings Account?

Small business owners face unique financial challenges that require careful planning and management. One essential step towards success is opening a dedicated business savings account. By separating personal and business finances, entrepreneurs can track the company’s financial standing more accurately and make informed decisions.

A business savings account also offers a range of benefits that can help entrepreneurs manage their finances and achieve their goals. For example, having a separate savings account allows entrepreneurs to allocate excess funds to investments, prepare for emergencies, and have a financial cushion during challenging times. By building a healthy savings balance, entrepreneurs can also access favorable rates and terms on loans and other financial products, making it easier to grow their business over time.

Why is it Beneficial to Open a Business Savings Account?

Small business owners face unique financial challenges that require careful planning and management. One essential step towards success is opening a dedicated business savings account. By separating personal and business finances, entrepreneurs can track the company’s financial standing more accurately and make informed decisions.

A business savings account also offers a range of benefits that can help entrepreneurs manage their finances and achieve their goals. For example, having a separate savings account allows entrepreneurs to allocate excess funds to investments, prepare for emergencies, and have a financial cushion during challenging times. By building a healthy savings balance, entrepreneurs can also access favorable rates and terms on loans and other financial products, making it easier to grow their business over time.

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.
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.

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.
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. FDIC regulates deposit insurance to at least $250,000
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.
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.