Best Business Savings Accounts – USA

Best Business Savings Accounts

Savings Accounts for – Small businesses & freelancers

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

Advertiser Disclosure

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.

Please note:

  • All the information displayed in this site is completely subjective. Moreover, we have broad editorial discretion as to the content we publish on the site and due to various reasons, the information you see may be incomplete and/or inaccurate. Please don’t hesitate to double-check the information we provide. It’s okay, we won’t be offended – on the contrary, we would love to hear your feedback!
  • We’re able to offer this completely free-of-charge online resource thanks to the referral fees we receive from our partners (some of the companies listed on this site). While this may affect the location of these companies and the content we feature on the site, it’s not possible to purchase a favorable review or a position on this site.
Business Banks Monthly Fees APY Benefits Score
Free plan More info 5.85%
  • Gain 5.85% yield on your idle cash
  • 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
Special Offer: Deposit $10K within your first 90 days and get $250 cash
Free plan More info 3.80%
  • Open online account in minutes
  • 3.80% APY with zero monthly fees
  • Dedicated and personalized customer service
9.5

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
$15
monthly fee More info
Up to 3.50%
  • Fee waived with $10,000 minimum balance
  • Physical branches in over 2,000 locations
9.1

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

  • Deposit products (up to $250k) offered by U.S. Bank National Association. Member FDIC

Account Access

Based on 754 reviews
Free plan More info 3.30%
  • No monthly fee and unlimited transactions
  • Open online in as little as 5 minutes
8.8

Payments

Domestic Transfers

Free incoming and outgoing ACH and Wire Transfer

 

International Transfers
  • International Wire Out: $25
  • International Wire In: $5
Checks

Mobile Check Deposit & Mailed Checks

Debit Card

Visa Rewards Debit Card with cash back & virtual cards. Earn more with Visa SavingsEdge.

Accounting Tools

  • green-check-mark Quickbooks
  • green-check-mark Bill Pay
  • green-check-mark Autobooks
  • green-check-mark Plaid
  • green-check-mark Digital Invoicing
  • green-check-mark Additional tools & Integrations available

Security Features

  • Grasshopper, Member FDIC. Deposits are insured up to $250,000.
  • Clients also have access to enhanced FDIC insurance up to $125 million. 

Account Access

Based on 112 reviews
Free plan More info 1%-3%
  • Get up to 3% APY in your savings
  • Get personalized customer support by email
8.5

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
  • 90,000+ Green Dot® Network partnering retailers

 

Withdrawals are fee-free on any ATM

Check

Recieve: Check scanner
Send: Mailed 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
Free Plan More info up to 4.01%
  • Free domestic and international incoming wires
  • No monthly maintenance fee
8.2

Payments

Monthly Fees

Free

Average Daily Balance

Not required

Min Opening Deposit

$0

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
Free plan More info Up to 4.25%
  • Earn 1.5%- 4.25% APY on balances up to $3M
  • Quick & easy migration of existing bank accounts
7.9

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
Our Top Choice
1
  • Unlimited fee-free transactions
  • Venture debt loans available for startups
More info + Free Plan
Get $250 cash when deposit $10K in the first 90 days
2
  • Open online account in minutes
  • 4.0% APY with zero monthly fees
More info + Free plan
3
  • Online and mobile banking available
  • Physical branches in over 2,000 locations
More info + $15 monthly fee
4
  • Earn up to 2.00% APY and 1% Cash Back
  • Unlimited transactions and no monthly fees
More info + Free Plan
5
  • Get up to 3% APY in your savings
  • Get personalized customer support by email
More info + Free Plan
6
  • Domestic ATM fee reimbursements
  • Eligible customers earn 1.01% APY up to $50k
More info + $10/month
7
  • Earn 1.5%- 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.

Customer Experiences

Great high-yield savings account for our small business. Easy to sign up, transfer funds, earn interest, and connect the account to our QuickBooks for tracking.
B
Bryan
Jun 8, 2024
Live Oak are great folk! They are exceptional business partners focused on business and owners’ success.
M
Mike Harrison
Apr 18, 2024
The on-line system is very user friendly. The staff at Live Oak have helped when I needed personal attention. Their interest rates are really good for a business account.
K
Kathy
Apr 22, 2024
I have been banking with Relay for over three years, some of which was in their early startup phase.This is by far the best banking platform for my company and I am so grateful my accountant shared.
I have been banking with Relay for over three years, some of which was in their early startup phase.This is by far the best banking platform for my company and I am so grateful my accountant shared.

How to Compare and Choose the Best Business Checking Account?

Banking Features
Check for a variety of payment options, local and international money transfer services, corporate cards, account types and available currencies, as well as integrated invoicing and bookkeeping tools.
Fees
Look for built-in expense reporting, scheduled payments, and direct debits. Most banks integrate easily with bookkeeping and accounting tools.
Corporate Card
All business accounts offer MasterCard or Visa corporate cards for you and your employees. Verify the number of free cards included in your chosen plan and the cost of each additional card.
Security
The banks we compare & review on Top10BusinessBanks.com are regulated by local authorities. FDIC regulates deposit insurance to at least $250,000
Accounting Tools
Look for built in expense reporting, scheduled/recurring payments & direct debits. Most banks also offer seamless integration with bookkeeping & accounting tools.
Account Access
Some banks offer 24/7 account access through mobile and desktop apps, but others may not. Ensure your bank suits your needs.

How to Compare and Choose the Best Business Checking Account?

Banking Features
Accordeon button
Check for a variety of payment options, local and international money transfer services, corporate cards, account types and available currencies, as well as integrated invoicing and bookkeeping tools.
Fees
Accordeon button
Look for built-in expense reporting, scheduled payments, and direct debits. Most banks integrate easily with bookkeeping and accounting tools.
Corporate Card
Accordeon button
All business accounts offer MasterCard or Visa corporate cards for you and your employees. Verify the number of free cards included in your chosen plan and the cost of each additional card.
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 Tools
Accordeon button
Look for built in expense reporting, scheduled/recurring payments & direct debits. Most banks also offer seamless integration with bookkeeping & accounting tools.
Account Access
Accordeon button
Some banks offer 24/7 account access through mobile and desktop apps, but others may not. Ensure your bank suits your needs.